Shree Refrigerations: FY26 growth meets capacity build-out for the next order cycle

FY26 revenue from operations was INR 1,535.5 million, EBITDA was INR 328.2 million, and net profit was INR 214.0 million, as per the standalone financials in the presentation.

Unexecuted closing order book as on 31 March 2026 was INR 2,707.7 million, shown as about 1.8 times FY26 revenue.

The presentation splits the closing order book into HVAC (INR 1,596.9 million), AC Plant (INR 616.6 million), Refrigeration Plant (INR 179.9 million), Turnkey (INR 123.2 million), Spares and Services (INR 123.4 million), and Chiller and Others (INR 47.6 million).

Unit 2 is a new greenfield expansion of about 50,000 square feet, expandable to about 1,00,000 square feet. The presentation lists capability additions including a laser cutting machine, paint shop, and shot blasting.

The presentation states the working capital cycle improved from around 570 days in FY25 to around 370 days in FY26, and operating cash flow turned positive in FY26.

The presentation identifies data centre cooling as a new growth lever and states a technology cooperation agreement has been signed with Smartd (Canada) for oil-free data centre chillers.

The presentation states a target of around 40% compound annual growth rate for the next 3 to 5 years, based on FY26.