Ships of the First Training Squadron of the Indian Navy
Credit: PTI File Photo
Mumbai: Shree Refrigerations Limited (SRL) has secured multiple fresh orders worth more than Rs 40 crore in the last 2 months, from the Indian Navy, reinforcing its strong position in the defence segment.
These orders predominantly pertain to retrofitting / upgrading existing equipment with newer and higher performance equipment and replenishing spare parts for earlier installed equipment.
With the addition of these orders, SRL’s total closing order book is now more than Rs 320 crore (excluding GST), providing strong medium-term revenue visibility and supporting sustained business growth.
These order wins add to SRL’s growing presence in mission-critical HVAC and refrigeration systems and reflect continued confidence from defence establishments in the Company’s engineering capabilities and execution track record. The projects will be executed using indigenously developed technologies, aligned with India’s focus on self-reliance in critical infrastructure.
“Shree Refrigerations Limited has delivered a strong financial performance during the current financial year. The Company has surpassed its total revenue of the previous financial year within the first nine months and achieved revenues of Rs 100 crore as of December 31, driven by steady order inflows and disciplined project execution,” a press statement said.
Based on current order visibility and execution momentum, the company continues to execute orders in alignment with the guidance of 40 percent year-on-year revenue growth for the financial year, underscoring confidence in its business outlook and medium-term growth trajectory.
The latest defence orders further enhance SRL’s order book strength and provide improved earnings visibility, positioning the Company well for sustained growth supported by a diversified and robust project pipeline.