Shree Refrigerations Ltd
Incorporated in 2006, Shree Refrigerations
Ltd is a defence-focused manufacturer of advanced refrigeration and HVAC systems.[1]
- Market Cap ₹ 740 Cr.
- Current Price ₹ 208
- High / Low ₹ 312 / 153
- Stock P/E 120
- Book Value ₹ 56.1
- Dividend Yield 0.00 %
- ROCE 17.8 %
- ROE 15.0 %
- Face Value ₹ 2.00
Pros
- Company has reduced debt.
- Company has delivered good profit growth of 43.5% CAGR over last 5 years
Cons
- Though the company is reporting repeated profits, it is not paying out dividend
- 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 Aerospace & Defense Aerospace & Defense
Part of BSE SME IPO
Half Yearly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|
| 13.07 | 10.49 | 45.31 | 50.54 | 80.26 | 98.73 | 98.15 | |
| 14.22 | 7.72 | 33.32 | 38.14 | 55.35 | 71.68 | 80.98 | |
| Operating Profit | -1.15 | 2.77 | 11.99 | 12.40 | 24.91 | 27.05 | 17.17 |
| OPM % | -8.80% | 26.41% | 26.46% | 24.54% | 31.04% | 27.40% | 17.49% |
| 0.09 | 0.25 | 0.09 | 0.33 | 0.88 | 0.27 | 0.50 | |
| Interest | 2.88 | 2.27 | 3.84 | 4.42 | 4.61 | 4.48 | 4.42 |
| Depreciation | 0.51 | 0.45 | 3.70 | 3.57 | 3.82 | 4.15 | 4.83 |
| Profit before tax | -4.45 | 0.30 | 4.54 | 4.74 | 17.36 | 18.69 | 8.42 |
| Tax % | -24.27% | 80.00% | 26.43% | 35.44% | 29.67% | 26.65% | |
| -3.37 | 0.06 | 3.34 | 3.06 | 12.20 | 13.71 | 6.16 | |
| EPS in Rs | 4.88 | 2.09 | |||||
| Dividend Payout % | 0.00% | 0.00% | 0.00% | 0.01% | 0.00% | 0.00% |
| 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 | Sep 2025 | |
|---|---|---|---|---|---|---|---|
| Equity Capital | 3.19 | 3.29 | 3.29 | 4.06 | 4.90 | 5.61 | 7.13 |
| Reserves | -0.35 | -0.19 | 3.15 | 24.32 | 59.56 | 113.03 | 192.88 |
| 18.92 | 35.55 | 49.94 | 49.33 | 35.30 | 42.44 | 26.18 | |
| 7.88 | 13.97 | 23.58 | 16.78 | 25.11 | 30.46 | 12.06 | |
| Total Liabilities | 29.64 | 52.62 | 79.96 | 94.49 | 124.87 | 191.54 | 238.25 |
| 3.56 | 3.34 | 4.38 | 10.35 | 10.60 | 22.44 | 20.02 | |
| CWIP | 0.72 | 1.00 | 0.81 | 0.00 | 0.34 | 0.06 | 0.14 |
| Investments | 1.79 | 1.79 | 1.84 | 5.26 | 6.05 | 8.59 | 62.86 |
| 23.57 | 46.49 | 72.93 | 78.88 | 107.88 | 160.45 | 155.23 | |
| Total Assets | 29.64 | 52.62 | 79.96 | 94.49 | 124.87 | 191.54 | 238.25 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|
| -9.06 | -5.05 | -5.76 | -5.33 | -24.83 | ||
| -5.65 | -6.35 | -7.63 | -2.53 | -14.47 | ||
| 14.56 | 11.17 | 15.28 | 6.39 | 44.27 | ||
| Net Cash Flow | -0.16 | -0.23 | 1.90 | -1.47 | 4.97 | |
| Free Cash Flow | -9.56 | -6.44 | -6.39 | -6.76 | -38.33 | |
| CFO/OP | -327% | -42% | -46% | -26% | -114% |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|
| Debtor Days | 159.74 | 94.64 | 171.50 | 228.07 | 289.10 | 351.95 |
| Inventory Days | 414.49 | 2,820.98 | 429.27 | 464.01 | 299.36 | 350.79 |
| Days Payable | 146.93 | 809.45 | 186.24 | 157.98 | 114.63 | 126.26 |
| Cash Conversion Cycle | 427.30 | 2,106.17 | 414.53 | 534.10 | 473.83 | 576.49 |
| Working Capital Days | -58.37 | 614.83 | 157.81 | 207.20 | 221.97 | 345.11 |
| ROCE % | 8.48% | 17.64% | 13.66% | 24.75% | 17.83% |
Insights
In beta| Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|
| Average Collection Period Days |
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| Manufacturing Facility Area Square Feet |
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| Total Employee Count Number |
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| Operating Cycle Days |
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| Order Book INR Million |
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Extracted by Screener AI
Documents
Announcements
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Announcement under Regulation 30 (LODR)-Award_of_Order_Receipt_of_Order
17 Apr - Received Rs 4.83 crore order from Cochin Shipyard for 8 kW refrigeration plant, delivery by 4 February 2030.
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Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
14 Apr - Depositories and Participants) Regulation, 2018, the Company is hereby submitting the Confirmation Certificate as provided by Registrar and Transfer Agent of the Company relating to …
- Closure of Trading Window 25 Mar
-
Announcement under Regulation 30 (LODR)-Award_of_Order_Receipt_of_Order
18 Mar - Indian Navy order: supply spare items for B Class Ship, Rs.2,41,22,007, delivery by 18 Mar 2027.
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Annoucement Under Regulation 30 Of SEBI (LODR) Regulations, 2015, Update : The Company Has Entered Into A Turbocor® Authorized Service Partner Agreement With Danfoss LLC, USA, On 17Th March 2026.
18 Mar - Signed Turbocor Authorized Service Partner Agreement with Danfoss LLC on 17 March 2026 for local compressor repairs.
Concalls
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Nov 2025Transcript PPT REC
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Nov 2025TranscriptAI SummaryPPT
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.