Shree Refrigerations shares gained 1.41% to close at ₹406.60 following the announcement of a significant defense contract. According to reports from Business Standard, the company secured an order worth ₹3.93 crore from the Indian Navy's Controller of Procurement, Material Organisation, Mumbai. The order involves the supply of a magnetic bearing compressor-based AC plant with delivery scheduled by 28 August 2027.
As reported by Business Standard, the order was received on 28 August 2026, with a delivery timeline of 365 days from the order date. The company clarified that the transaction does not constitute a related-party transaction and stated that neither its promoters nor members of the promoter group have any interest in the contract. This defense contract represents a significant addition to the company's order book.
According to Business Standard, Shree Refrigerations operates in the manufacturing of chillers, refrigeration and air conditioning appliances, and other parts of the Heating, Ventilation, and Air Conditioning (HVAC) industry. The company primarily serves industries in the domestic market with an array of advanced systems and equipment. The stock's positive response reflects investor confidence in the company's ability to execute this defense contract successfully.
As reported by Business Standard, the company demonstrated robust financial performance in FY26 with standalone net profit jumping 64.6% year-on-year to ₹21.40 crore compared with ₹13 crore in FY25. Revenue from operations surged 55.5% YoY to ₹153.55 crore in FY26, indicating strong operational growth across the company's core business segments.
