Shree Refrigerations Ltd
Incorporated in 2006, Shree Refrigerations
Ltd is a defence-focused manufacturer of advanced refrigeration and HVAC systems.[1]
- Market Cap ₹ 739 Cr.
- Current Price ₹ 208
- High / Low ₹ 230 / 153
- Stock P/E 53.7
- 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
-
Announcement under Regulation 30 (LODR)-Press Release / Media Release
2d - SRL's Sept 9, 2025 MoU with Smardt via Trezor; data‑centre chillers; 10–15% revenue in three years.
-
Submission Of Press Release - 'Shree Refrigerations Joins Hands With Smardt'
2d - MoU with Smardt (Sep 9, 2025) to supply magnetic-bearing chillers; expects 10-15% revenue in three years.
-
Submission Of Corporate Presentation - Formal Exchange Of Agreement Held On September 09, 2025
9 Sep - Corporate presentation for formal exchange of agreement held September 9, 2025.
-
Outcome Of Meeting And Formal Exchange Of Agreement Held On September 09, 2025
9 Sep - Sept 9, 2025: formal exchange of signed agreement; attendees list provided; no UPSI shared.
-
Revised Intimation Under Regulation 30 Of SEBI (LODR) Regulations, 2015- Schedule Of Meeting For Formal Exchange Of Agreement
5 Sep - Formal agreement exchange meeting between Trezor (subsidiary) and Smardt on Sep 9, 2025, 11:00 AM, Mumbai.
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.