Shree Refrigerations Limited · BSE:SHREEREF
Shree Refrigerations — Investor Presentation (August 2026)
33 slides from Shree Refrigerations's investor presentation, Aug 26, 2026
Slide 1: Regulation 30 submission letter to BSE
26th August 2026 To, Department of Corporate Services/ Listing BSE LIMITED 25th Floor, P J Towers, Dalal Street, Mumbai-400001 Subject: Submission of Updated Investor Presentation w.r.t New Manufacturing Facility Ref: Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regula
Slide 2: Shree Refrigerations Ltd Investor Presentation August 2026
SHREE REFRIGERATIONS LTD DEFENCE | DATA CENTRES We don’t just make Products, We manufacture Pride I N V E S T O R P R E S E N TAT I O N August 2026
Slide 3: Key Financial Highlights (FY26)
Key Financial Highlights (FY26) Cash flow from Revenue EBITDA Net Profit EPS Operations turned Positive in FY26 INR 1,535 INR 328 INR 214 INR 6.47 Mn Mn Mn Working capital cycle 55.5% YoY 21.8% YoY 64.7% YoY 28.4% YoY improved from ~570 days (FY25) to ~370 days (FY26) SHREE REFRIGERATIONS LIMITED 2
Slide 4: Company Overview
COMPANY OVERVIEW SHREE REFRIGERATIONS LIMITED 3
Slide 5: Inside Shree Refrigerations
Inside Shree Refrigerations DECADE+ OF SERVING INDIAN NAVY 10+ years India's leading defence-oriented manufacturer of high- performance HVAC System and AC & Ref Plant for mission-critical applications. of trusted Indian Navy engagement from first marine HVAC orders (2012) to Corporate indigenous sub
Slide 6: What Drives Us
What Drives Us Core Vision Building a stronger nation with indigenous products and Values cooling solutions. Collaboration Transparency Mission Integrity Provide reliable, high-quality products for defence and Agility engineering sectors, supporting India’s self-reliance and technological excellence
Slide 7: Our Journey of Engineering
Our Journey Of Engineering 1990 1994 1995 1998 2002 2006 Started as a Introduced Manufactured first Moved to owned Developed first Became a private partnership firm in condensing units for chiller for newspaper premises calorimeter test rig limited company rented premises milk cooling printing and r
Slide 8: Business Overview
BUSINESS OVERVIEW SHREE REFRIGERATIONS LIMITED 7
Slide 9: Core Business Identity
Core Business Identity . Defence-focused Trusted supplier to the Indian Navy, manufacturer of marine- Indian PSUs, shipyards, and private grade HVAC & refrigeration industrial clients systems Only Indian company registered across all 3 Turnkey HVAC&R Solutions AC & Ref Plants Electrical Control Pane
Slide 10: Business Model
Business Model MANUFACTURING VALUE-ADDED & SUPPLY SERVICES Equipment (New + Retrofit) Installation & Commissioning Turnkey HVAC & R, AC & Ref Plants, Heat Exchangers, Electrical On-site execution, training, operations and maintenance Control Panels handover Spares (Recurring Revenue) AMC & Life Cycl
Slide 11: Marine HVAC&R Portfolio
Marine HVAC&R Portfolio AC Plant Marinised Split Air Conditioner Marine HVAC&R 5 TR to 300 TR (seawater or air-cooled) Designed for maritime environments Systems ▪ Chillers for warships and submarines – NHQ/ DME Approved Starter & Control Panels Refrigeration Plant ▪ Turnkey HVAC&R for For pumps and
Slide 12: SRL's Projects (1/2)
SRL’s Projects (1/2) Project/Ship Product Project Status INS Dhruv (Project VC 11184) AC & Ref Plant with Control Panel Completed INS Jalashwa SCAC with Control Panel Completed Brahmaputra Class AC Plant with Control Panel Completed Completed P17A, Nilgiri Class Ships AC Plant with Control Panel 06/
Slide 13: SRL's Projects (2/2)
SRL’s Projects (2/2) Project/Ship Product Project Status Fleet Support Ships AC Plant, HVAC and Ref Plant Ongoing Ongoing FPV Turnkey HVAC 02/14 Shipsets Delivered Beas MCB AC Plant with Control Panel Ongoing Shivalik MCB AC Plant with Control Panel Ongoing NGMV Ref Plant with Control Panel Ongoing
Slide 14: State-of-the-art Manufacturing Facility
State-of-the-art Manufacturing Facility Located at Karad, Equipped with advanced machinery, in-house design and naval-grade testing Maharashtra Every system inspected and signed off stage-by-stage as per naval quality standards Infrastructure Unit - 1 Unit – 2 (New Greenfield Expansion) (~20,000 sq.
Slide 15: Birds Eye View of the New Unit Inaugurated
Birds Eye View of the New Unit Inaugurated SHREE REFRIGERATIONS LTD 14
Slide 16: Overview of the New Plant
Overview of the New Plant (Unit 2 : Designed to enhance capacity, efficiency and operational scalability) New Capability Additions: 01 | Laser Cutting Machine Enhanced precision cutting capability 02 | Paint Shop Strengthen finishing capabilities and process control. 03 | Shot Blasting Supporting im
Slide 17: In-house Test Facility
In-house Test Facility . Our advanced in-house testing facility enables performance validation, quality assurance, and rigorous testing under controlled conditions Controlled Ambient AC Test Room Chiller Performance Test Bed Chiller Tilt • Test Bed facility for 650 KW Marine Plant – 2 nos • Leak tes
Slide 18: Our Strategic (Coastal) Presence
Our Strategic (Coastal) Presence Client Delhi Portfolio BD & Sales Office Defence & PSUs Mumbai Installation & Services Team Pune BD & Sales Office Kolkata Installation & Services Team Karad Vizag Head Office & Factory Installation & Services Team Goa Installation & Services Team Chennai Installatio
Slide 19: Registrations & Certifications
Registrations & Certifications Defence Registrations Directorate of Marine Engineering, Directorate of Electrical Engineering, Directorate of Naval Architecture, Ministry of Defence (Navy) for AC & Ref Plants Ministry of Defence (Navy) for Motor Starter Panels Ministry of Defence (Navy) for HVAC sys
Slide 20: Market Outlook
MARKET OUTLOOK SHREE REFRIGERATIONS LIMITED 19
Slide 21: Leveraging HVAC Expansion & Data Centre Acceleration
Leveraging HVAC Expansion & Data Centre Acceleration Macro Tailwinds Driving HVAC & Industrial Cooling Emerging High-Growth Cooling Segments Demand (Entering Multi-Year Growth Cycle) Defence Cooling Systems (An Existing Growth Lever) • Rising investments in defence infrastructure, naval assets, test
Slide 22: Marine & Defence Opportunity Landscape
Marine & Defence Opportunity Landscape Marine HVAC is becoming a strategic niche Defence Marine Opportunity • Indian Navy expected to expand to ~230 ships by 2035 • Government approvals received for projects worth ~INR 2.35 lakh crore Long qualification High reliability Strong Indian • Order inflows
Slide 23: Data Centre Cooling (A Decade-Long Opportunity)
Data Centre Cooling (A Decade-Long Opportunity) India Data Centre Capacity Expansion Structural Demand Why Cooling is Cooling Segment Build-Up Critical? Evolution • India data centre capacity expected to Data centres increasingly require: Traditional cooling systems are gradually increase from ~INR
Slide 24: Strategic Positioning of Shree Refrigerations
Strategic Positioning of Shree Refrigerations Defence + Data Centre = Dual Growth Engines Shree Refrigerations Structural Demand Build-Up Strategically Positioned for Shree Refrigerations has already demonstrated capability adoption in marine applications through – • Defence infrastructure expansion
Slide 25: Way Forward
WAY FORWARD SHREE REFRIGERATIONS LIMITED 24
Slide 26: Strategic Growth & Future Outlook
Strategic Growth & Future Outlook Scaling Manufacturing & In-House Capabilities for Faster Delivery Expanding capacity and internal capabilities ▪ ▪ Greenfield project spanning 50,000 sq. ft., expandable to 100,000 sq. ft. Aimed at streamlining and accelerating stage-wise inspections carried out by
Slide 27: Financial Highlights
FINANCIAL HIGHLIGHTS SHREE REFRIGERATIONS LIMITED 26
Slide 28: Annual Financial Performance (Standalone)
Annual Financial Performance (Standalone) Total Income from Operations (INR Mn) EBITDA (INR Mn) PAT (INR Mn) CAGR CAGR 328.2 CAGR 1,535.5 ~40% 214.0 ~45% 269.5 ~85% 241.5 987.3 130.0 803.1 110.3 119.0 505.8 33.8 FY23 FY24 FY25 FY26 FY23 FY24 FY25 FY26 FY23 FY24 FY25 FY26 30.1 27.3 23.5 21.4 13.7 13.
Slide 29: Annual Income Statement (Standalone)
Annual Income Statement (Standalone) Particulars (INR Mn) FY23 FY24 FY25 FY26 Revenue from Operations 505.8 803.1 987.3 1,535.5 Total expenditure 386.8 561.5 717.7 1,207.3 COGS 241.4 400.5 503.3 866.3 Employee benefit expenses 70.7 87.3 137.9 217.4 Other expenses 74.6 73.8 76.5 123.7 EBITDA 119.0 24
Slide 30: Annual Balance Sheet (Standalone)
Annual Balance Sheet (Standalone) Particulars (INR Mn) FY24 FY25 FY26 Particulars (INR Mn) FY24 FY25 FY26 EQUITY & LIABILITIES ASSETS Shareholders' Funds 647.4 1,182.1 2,196.4 Non Current Assets 177.8 277.3 569.0 Share Capital 49.0 56.1 71.3 Property, Plant & Equipment 48.1 175.3 215.4 Reserves & Su
Slide 31: Order Book Summary
Order Book Summary Chiller & Spares & Others Services 47.6 Turnkey 123.4 Refrigeration Plant 143.2 1.8x Closing 179.9 FY26 Revenue Order Book Closing Order Book (FY26) INR Mn Order Book HVAC (INR Mn) 1,596.9 Opening Order Book 2,154.1 AC Plant 616.6 Orders Received 2,089.1 Orders Executed 1,535.5 Un
Slide 32: Safe Harbor
Safe Harbor This document has been prepared for information purposes only and is not an offer or invitation or recommendation to buy or sell any securities of Shree Refrigerations Limited (“SRL”, “Shree”, “Shree Refrigerations“, "Company“), nor shall part, or all, of this document form the basis of,
Slide 33: Thank You!
Instagram: https://www.instagram.com/shree.ref/ Youtube: https://www.youtube.com/@Shreerefrigerations LinkedIn : https://www.linkedin.com/company/shree-refrigerations Website : https://shreeref.com/ THANK SHREE REFRIGERATIONS LTD KAPTIFY ® Consulting YOU! Plot No. 131/1+2, Mouje Virawade, Ogalewadi,
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