Shree Refrigerations Share Surges 19% on ₹106.6 Cr Defence Supply Order Win

The stock of Shree Refrigerations Ltd (BSE: 544458) surged on Monday after the company said it has secured a ₹106.63 crore defence supply order from Hindustan Shipyard Limited, a Government of India enterprise under the Ministry of Defence. The stock closed at ₹213.20, 18.31% higher than Friday’s closing price of ₹180.20, the sharpest single-day rise in months.

A Deeper Dive Into Order Details

The contract entails supplying and installing HVAC systems for five Fleet Support Ships, with an execution period up to March 31, 2028. The transaction provides the company with a long-term earnings stream and highlights its expanding presence within India’s defence infrastructure value chain.

• Awarding Party: Hindustan Shipyard Limited (Ministry of Defence)
• Order Value: ₹106,62,65,465 (₹106.63 crore)
• Nature: Supply & installation of HVAC systems for 5 Fleet Support Ships
• Execution Date: March 31, 2028
• Promoter/Related Party Interest: None reported

How the Stock Market Reacted

Shree Refrigerations share price opened at ₹187.80, touched an intraday high of ₹216.20, before closing, hitting a new 52-week high. The market capitalisation of the company increased to ₹764.09 crore, while turnover crossed ₹36.11 crore on the BSE SME platform, indicating high investor demand.

• Previous Close: ₹180.20
• Day’s Range: ₹187.80 – ₹216.20
• 52-Week Range: ₹153.00 – ₹216.20
• Market Cap: ₹764.09 crore

Management Commentary

Referring to the development, Ravalnath Gopinath Shende, Managing Director, said the order is a “significant milestone” for the company’s defence sector business and demonstrates its capability to supply innovative HVAC solutions for high-value naval infrastructure.

Shree Refrigerations Ltd, listed on the BSE SME IPO platform, operates in the industrial products segment with a focus on refrigeration and HVAC systems. The company, formerly known as Shree Refrigerations Pvt. Ltd., is headquartered in Karad, Maharashtra.

REF: https://www.bseindia.com/xml-data/corpfiling/AttachLive/84bd50bb-ca2f-4b07-b238-abe24cc1dbb0.pdf

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