Shree Refrigerations Ltd
Incorporated in 2006, Shree Refrigerations
Ltd is a defence-focused manufacturer of advanced refrigeration and HVAC systems.[1]
- Market Cap ₹ 642 Cr.
- Current Price ₹ 180
- High / Low ₹ 197 / 153
- Stock P/E 46.7
- Book Value ₹
- Dividend Yield 0.00 %
- ROCE 17.8 %
- ROE 15.0 %
- Face Value ₹ 2.00
Pros
- Company has delivered good profit growth of 43.5% CAGR over last 5 years
Cons
- Promoter holding has decreased over last quarter: -12.0%
- Company has high debtors of 352 days.
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Peer comparison
Industrials Capital Goods Industrial Manufacturing Industrial Products
Part of BSE SME IPO
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
| Operating Profit |
| OPM % |
| Interest |
| Depreciation |
| Profit before tax |
| Tax % |
| EPS in Rs |
| Raw PDF |
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|
| 13 | 10 | 45 | 51 | 80 | 99 | |
| 14 | 8 | 33 | 38 | 55 | 72 | |
| Operating Profit | -1 | 3 | 12 | 12 | 25 | 27 |
| OPM % | -9% | 26% | 26% | 25% | 31% | 27% |
| 0 | 0 | 0 | 0 | 1 | 0 | |
| Interest | 3 | 2 | 4 | 4 | 5 | 4 |
| Depreciation | 1 | 0 | 4 | 4 | 4 | 4 |
| Profit before tax | -4 | 0 | 5 | 5 | 17 | 19 |
| Tax % | -24% | 80% | 26% | 35% | 30% | 27% |
| -3 | 0 | 3 | 3 | 12 | 14 | |
| EPS in Rs | 4.88 | |||||
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 50% |
| 3 Years: | 30% |
| TTM: | 23% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 43% |
| 3 Years: | 60% |
| TTM: | 13% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | % |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 20% |
| 3 Years: | 19% |
| Last Year: | 15% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|
| Equity Capital | 3 | 3 | 3 | 4 | 5 | 6 |
| Reserves | -0 | -0 | 3 | 24 | 60 | 113 |
| 19 | 36 | 50 | 49 | 35 | 42 | |
| 8 | 14 | 24 | 17 | 25 | 30 | |
| Total Liabilities | 30 | 53 | 80 | 94 | 125 | 192 |
| 4 | 3 | 4 | 10 | 11 | 22 | |
| CWIP | 1 | 1 | 1 | 0 | 0 | 0 |
| Investments | 2 | 2 | 2 | 5 | 6 | 9 |
| 24 | 46 | 73 | 79 | 108 | 160 | |
| Total Assets | 30 | 53 | 80 | 94 | 125 | 192 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|
| -9 | -5 | -6 | -5 | -25 | ||
| -6 | -6 | -8 | -3 | -14 | ||
| 15 | 11 | 15 | 6 | 44 | ||
| Net Cash Flow | -0 | -0 | 2 | -1 | 5 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|
| Debtor Days | 160 | 95 | 172 | 228 | 289 | 352 |
| Inventory Days | 414 | 2,821 | 429 | 464 | 299 | 351 |
| Days Payable | 147 | 809 | 186 | 158 | 115 | 126 |
| Cash Conversion Cycle | 427 | 2,106 | 415 | 534 | 474 | 576 |
| Working Capital Days | -58 | 615 | 158 | 207 | 222 | 345 |
| ROCE % | 8% | 18% | 14% | 25% | 18% |
Documents
Announcements
-
Disclosure Under Regulation 30 Of The SEBI (LODR) Regulations, 2015
19 Aug - Shree Refrigerations signed agreement with MUFG Intime on Aug 19, 2025 for e‑voting services.
-
Announcement under Regulation 30 (LODR)-Change in Management
18 Aug - Board approved re-appointment of Devashree Vishwesh Nampurkar as Whole-time Director on Aug 18, 2025, subject to AGM approval.
-
Disclosure Under Regulation 30 Of The SEBI (LODR) Regulations, 2015
18 Aug - RTA agreement with MUFG Intime being processed; will be executed and disclosed per Regulation 7.
-
Announcement under Regulation 30 (LODR)-Change in Management
18 Aug - Board appointed CS Mohit Singhal as secretarial auditor for FY2025-26 on 18 Aug 2025.
-
Board Meeting Outcome for Outcome Of Board Meeting Held On Monday, August 18, 2025, At 11:00 A.M. Pursuant To Regulation 30 Of The Securities Exchange Board Of India (LODR) Regulations, 2015
18 Aug - Board approved e-voting, director re-appointment, secretarial auditor, AGM notice, and investment of surplus funds.
Business Overview:[1]
SRL is engaged in the manufacturing
of chillers, refrigeration and air-conditioning appliances, and components associated with
the Heating, Ventilation, and Air Conditioning (HVAC) industry. The company offers a range
of advanced systems and equipment catering primarily to the domestic industrial market.