Ashish Kacholia Gains Rs 2,31,09,714 In A Single Day As Defence HVAC Company Supplies Systems For Newly Commissioned Indian Navy Warships

On Monday, Indian equity benchmarks ended higher, with the benchmark Nifty 50 index rising 0.37 per cent to 24,102.90. Amid the positive market sentiment, Shree Refrigerations share price traded at Rs 380.00, up 5.25 per cent from the previous close of Rs 361.05 after the company announced its contribution to two newly commissioned Indian Navy warships through the supply of mission-critical Marine Air-Conditioning Plants.

Supplied Critical HVAC Systems For Newly Commissioned Naval Warships

Shree Refrigerations said it supplied Marine Air-Conditioning Plants for INS Dunagiri and INS Agray, two of the three warships commissioned into the Indian Navy by Prime Minister Narendra Modi in Kolkata. The commissioning ceremony, held at Garden Reach Shipbuilders & Engineers (GRSE), also marked the induction of INS Sandhayak.

According to the company, the marine air-conditioning systems have been successfully type-tested and commissioned for onboard operational use by the Indian Navy. This marks the second consecutive naval commissioning ceremony where Shree Refrigerations' systems have been deployed on two of the three platforms inducted into service.

Shree Refrigerations Repeat Selection Reinforces Defence Capabilities

The company highlighted that its Marine AC Plants were also installed on INS Nilgiri and INS Vaghsheer, two of the three naval platforms commissioned in January 2025.

Commenting on the achievement, Chairman and Managing Director R. G. Shende said it was a matter of immense pride that the company's systems were selected for two of the three naval platforms commissioned on both occasions. The company stated that the repeat selection demonstrates its capabilities in delivering specialised HVAC solutions for mission-critical defence applications.

New Facility To More Than Double Capacity

Shree Refrigerations recently inaugurated a new 50,000 sq. ft. manufacturing facility, which is expected to more than double its production capacity.

The company said the expansion will strengthen its ability to cater to increasing requirements from the Indian Navy and the broader defence ecosystem, while supporting the government's Atmanirbhar Bharat initiative through indigenous manufacturing.
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Ashish Kacholia Gains Rs 2.31 Crore In A Single Day

According to the latest shareholding pattern, ace investor Ashish Kacholia holds 12,19,513 equity shares, representing a 3.42 per cent stake in Shree Refrigerations.

With the stock rising Rs 18.95 during Monday's session, the value of his holding increased by approximately Rs 2,31,09,713.50 in a single trading day.

Shareholding Pattern

As per the latest available shareholding data, Foreign Institutional Investors (FIIs) held a 0.12 per cent stake in the company, down from 0.70 per cent in the previous quarter. Domestic Institutional Investors (DIIs) held an 8.74 per cent stake, compared with 9.19 per cent in the preceding quarter.

About Shree Refrigerations

Shree Refrigerations Ltd is engaged in the manufacturing of specialised refrigeration and air-conditioning systems for industrial, marine and defence applications. The company provides mission-critical HVAC solutions designed for demanding operational environments, including naval and strategic defence platforms.

Its product portfolio includes marine air-conditioning plants, refrigeration systems and customised HVAC solutions for defence, industrial and infrastructure projects. The company continues to expand its manufacturing capabilities to support growing demand from India's defence and industrial sectors.

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Disclaimer: The article is for informational purposes only and not investment advice.