Shree Refrigerations Ltd has secured a significant ₹256 million order from Mazagon Dock Shipbuilders Ltd (MDL), reinforcing its role as a key HVAC solutions provider for India’s maritime defense sector. The order, confirmed today, involves the turnkey supply of HVAC systems for 14 Fast Patrol Vessels (FPVs) being built for the Indian Coast Guard under yard 16514.
Key Highlights:
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The ₹196.2 million contract from MDL covers design, supply, installation, and commissioning of marine-grade HVAC systems tailored for FPVs.
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An additional ₹41.3 million order from Material Organisation (Mumbai) includes a Magnetic Bearing Compressor-Based AC Plant, further expanding Shree’s defense portfolio.
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Deliveries for both contracts are scheduled through September 2029, indicating long-term engagement and operational continuity.
Strategic Outlook:
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These wins follow Shree’s ₹1.07 billion contract with Hindustan Shipyard Ltd and ongoing FPV work with Goa Shipyard Ltd, showcasing its growing footprint in naval infrastructure.
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With a strong CAGR of 43.5% over five years and rising market cap, Shree Refrigerations is emerging as a trusted partner in India’s defense and industrial HVAC space.
Sources: DSIJ, Machinist.in.