Key Financials Snapshot

TTM · Consolidated · ₹ in Cr
Market Cap
₹1149 Cr.
Stock P/E
53.4
P/B
5.3
Current Price
₹321
Book Value
₹ 60.3
Face Value
2
52W High
₹439
52W Low
₹ 161
Dividend Yield
0%

Shree Refrigerations Overview

Business

Shree Refrigerations Ltd. is an Indian company operating in the Engineering - Industrial Equipments sector, specifically focusing on industrial refrigeration. The company likely designs, manufactures, installs, and provides after-sales service for industrial refrigeration systems and equipment. This typically includes solutions for cold storage, process cooling for various industries (e.g., food processing, pharmaceuticals, chemicals), and other specialized temperature control applications for industrial clients. Its core business model involves securing projects for new installations, supplying custom-engineered equipment, and offering maintenance and repair services, thereby generating revenue from equipment sales, project execution, and service contracts.

Revenue Mix

Specific details on key segments and their revenue contribution are not available from the provided information. However, based on the industry, the company's revenue would primarily be derived from:

Equipment Sales: Manufacturing and selling various refrigeration units, compressors, evaporators, condensers, and other components.

Project & Installation Services: Designing, engineering, and installing complete industrial refrigeration systems for clients.

After-Sales Service & Maintenance: Providing ongoing support, spare parts, and preventive maintenance contracts for installed systems.

Industry

The industrial refrigeration industry in India is characterized by a mix of large multinational players and numerous domestic manufacturers and service providers. It is often project-based, requiring significant engineering expertise and customization. Shree Refrigerations Ltd. likely operates as a specialized player within this competitive landscape, potentially focusing on specific industrial niches or regions within India. Its positioning would depend on its technical capabilities, cost efficiency, quality of service, and established client relationships. It competes with both larger, diversified engineering firms and other specialized refrigeration companies.

MOAT

Without more specific information, it's challenging to identify a wide, durable competitive advantage. Potential advantages for a company like Shree Refrigerations could include:

Specialized Engineering Expertise: Deep knowledge in specific industrial cooling applications, allowing for tailored and efficient solutions.

Client Relationships & Customization: Strong, long-term relationships with industrial clients built on reliable project execution and ability to meet unique requirements.

Cost Efficiency (Local Manufacturing): Potentially lower manufacturing and service costs compared to international competitors due to local operations.

Service Network: An efficient local service and support network that ensures quick response times for industrial clients where downtime is critical.

Growth Drivers

Growth in Indian Industrial Sector: Expansion of manufacturing, food processing, pharmaceuticals, and chemical industries drives demand for process cooling and cold storage.

Cold Chain Infrastructure Development: Government and private sector investment in cold chain logistics to reduce food waste and enhance supply chain efficiency.

Technological Upgrades & Energy Efficiency: Demand for more energy-efficient, environmentally friendly, and automated refrigeration systems to reduce operating costs and comply with regulations.

Infrastructure Projects: Development of new industrial parks, logistics hubs, and food processing zones requiring new refrigeration facilities.

"Make in India" Initiatives: Government push for domestic manufacturing could favor local industrial equipment suppliers.

Risks

Economic Cyclicality: Demand for industrial equipment is highly sensitive to overall economic health and industrial capital expenditure cycles.

Raw Material Price Volatility: Fluctuations in prices of key raw materials like steel, copper, and refrigerants can impact margins.

Intense Competition: A fragmented market with competition from both domestic and international players can lead to pricing pressure.

Project Execution Risk: Large, complex projects carry risks of delays, cost overruns, and contractual disputes.

Technological Obsolescence: Failure to adapt to new refrigeration technologies or evolving environmental regulations regarding refrigerants.

Dependency on Industrial Investments: A slowdown in private or public sector industrial investments can directly impact order inflows.

Management & Ownership

Information regarding the promoters, specific management quality, and detailed ownership structure is not provided in the prompt. As an Indian company, it is likely promoted by a founding family or a group of individuals who maintain a significant ownership stake, influencing strategic direction.

Outlook

Shree Refrigerations Ltd. operates in a sector poised to benefit from India's ongoing industrialization, growth in the food processing industry, and the significant push for cold chain infrastructure development. These macroeconomic tailwinds provide a strong underlying demand for industrial refrigeration solutions. However, the company faces a competitive market with both domestic and international players, which can exert pressure on pricing and margins. Its success will likely depend on its ability to maintain specialized engineering expertise, execute projects efficiently, adapt to technological advancements (especially in energy efficiency and environmental compliance), and nurture strong, long-term relationships with its industrial client base. While the market opportunity is substantial, navigating the cyclical nature of industrial investments and managing raw material costs will be crucial for sustained performance.

Shree Refrigerations Share Price

Live · BSE · Inception: 2006
₹ | |
Volume
Price

Key Financials — Profit & Loss

₹ in Cr · Consolidated · annual

Shree Refrigerations Quarterly Results

#(Fig in Cr.)
Net Sales
Other Income
Total Income
Total Expenditure
Operating Profit
Interest
Depreciation
Exceptional Income / Expenses
Profit Before Tax
Provision for Tax
Profit After Tax
Adjustments
Profit After Adjustments
Adjusted Earnings Per Share

Shree Refrigerations Profit & Loss

#(Fig in Cr.) Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026 TTM
Net Sales 45 51 80 99 154
Other Income 0 0 1 0 2
Total Income 45 51 81 99 155
Total Expenditure 33 38 56 72 121
Operating Profit 12 13 26 27 34
Interest 4 5 5 5 4
Depreciation 4 4 4 4 6
Exceptional Income / Expenses 0 0 0 0 0
Profit Before Tax 4 4 17 19 25
Provision for Tax 2 2 7 6 3
Profit After Tax 2 3 10 13 22
Adjustments 0 0 0 0 0
Profit After Adjustments 2 3 10 13 22
Adjusted Earnings Per Share 1 1.3 4.2 4.5 6

Shree Refrigerations Balance Sheet

#(Fig in Cr.) Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Shareholder's Funds 23 45 61 114 216
Minority's Interest 0 0 0 0 0
Borrowings 5 5 5 9 4
Other Non-Current Liabilities 2 3 3 1 0
Total Current Liabilities 52 42 54 59 74
Total Liabilities 81 94 124 183 294
Fixed Assets 6 6 7 14 18
Other Non-Current Assets 7 13 7 8 33
Total Current Assets 68 75 107 161 243
Total Assets 81 94 124 183 294

Shree Refrigerations Cash Flow

#(Fig in Cr.) Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Opening Cash & Cash Equivalents 2 1 2 1 6
Cash Flow from Operating Activities -5 -4 -5 -25 14
Cash Flow from Investing Activities -8 -8 -2 -9 -31
Cash Flow from Financing Activities 11 14 6 39 69
Net Cash Inflow / Outflow -2 2 -1 5 52
Closing Cash & Cash Equivalent 1 2 1 6 58

Shree Refrigerations Ratios

# Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Earnings Per Share (Rs) 1.03 1.27 4.21 4.49 6.04
CEPS(Rs) 3.28 3.02 5.77 6.01 7.67
DPS(Rs) 0 0 0 0 0
Book NAV/Share(Rs) 1.32 12.23 23.74 40.72 60.58
Core EBITDA Margin(%) 23.78 22.29 27.77 24.29 19.07
EBIT Margin(%) 16.65 16.47 24.72 20.8 16.58
Pre Tax Margin(%) 8.06 7.64 19.01 16.7 14.52
PAT Margin (%) 3.34 4.63 11.64 11.37 12.51
Cash Profit Margin (%) 10.66 11.04 15.94 15.19 15.87
ROA(%) 2.08 2.93 9.45 8.22 9.04
ROE(%) 78.27 19.07 24.88 14.63 13.04
ROCE(%) 15.02 13.71 25.22 18.05 13.83
Receivable days 153.36 173.48 195.77 261.11 212.72
Inventory Days 202.58 190.4 127.79 130.96 108.36
Payable days 280.47 217.96 106.36 111.84 100.16
PER(x) 0 0 0 0 28.59
Price/Book(x) 0 0 0 0 2.85
Dividend Yield(%) 0 0 0 0 0
EV/Net Sales(x) 1.25 1.07 0.53 0.45 3.88
EV/Core EBITDA(x) 4.68 4.26 1.64 1.63 17.35
Net Sales Growth(%) 0 11.62 58.78 22.94 55.53
EBIT Growth(%) 0 8.57 139.37 5.22 23.69
PAT Growth(%) 0 51.91 300.97 22.21 70.71
EPS Growth(%) 0 23.03 232.59 6.63 34.48
Debt/Equity(x) 1.56 0.73 0.66 0.39 0.17
Current Ratio(x) 1.31 1.79 1.98 2.74 3.29
Quick Ratio(x) 0.77 1.07 1.38 1.93 2.55
Interest Cover(x) 1.94 1.87 4.33 5.07 8.05
Total Debt/Mcap(x) 0 0 0 0 0.06

Growth Rates

Compounded annual
# 1 Year 3 Year 5 Year 10 Year
Sales CAGR +56% +45% — —
Operating Profit CAGR +26% +38% — —
PAT CAGR +69% +94% — —
Share Price CAGR +23% — — —
ROE Average +13% +18% +30% +30%
ROCE Average +14% +19% +17% +17%

Shree Refrigerations Shareholding Pattern

Latest · Mar 2026
100% held
Promoters 44.6 %
FII 0.12 %
DII (MF + Insurance) 8.74 %
Public (retail) 46.55 %
# Jun 2025 Aug 2025 Sep 2025 Mar 2026
Promoter 44.644.644.644.6
FII 3.973.970.70.12
DII 14.0514.059.188.74
Public 37.3837.3845.5246.55
Others 0000
Total 100100100100

Shree Refrigerations Peer Comparison

Engineering - Industrial Equipments Edit Columns

Shree Refrigerations Quarterly Price

10-year quarterly close · BSE
Show Value Show %

News & Updates

See more…

Shree Refrigerations Pros & Cons

Pros

  • Debtor days have improved from 111.84 to 100.16days.
  • Company has reduced debt.
  • Company is almost debt free.

Cons

  • Though the company is reporting repeated profits, it is not paying out dividend.
  • Promoter holding is low: 44.6%.
  • Stock is trading at 5.3 times its book value.
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