Shree Refrigerations Ltd Q4 FY26 Results & Concall Highlights: Revenue, Margins & Order Book
Published 14 Jun 2026 | Aerospace & Defense | Market Cap: ₹1.1K Cr
Management targets a 40% CAGR in revenue over the next 4-5 years, aiming to reach INR1,000 crore by FY30-'31. - FY26 revenue was INR153 crore, with current manufacturing capacity supporting up to around INR400 crore revenue. - New greenfield facility adds 50,000 sq. Shree Refrigerations targets a 40%-50% CAGR in revenue over the next 4-5 years, aiming for INR1,000 crore revenue by FY30-'31.
From Shree Refrigerations Ltd's Q4 FY26 earnings-call transcript · updated 23 Aug 2026.
Price
₹405
Market Cap
₹1.1K Cr
P/E Ratio
52.4
Revenue Rank
Margin Rank
How does Shree Refrigerations Ltd rank in Aerospace & Defense?
Compare Shree Refrigerations Ltd against every Aerospace & Defense company this quarter on revenue, margins and earnings-call signals.
📊 Revenue & Sales Performance
Rank 1- →Management targets a 40% CAGR in revenue over the next 4-5 years, aiming to reach INR1,000 crore by FY30-'31.
- →FY26 revenue was INR153 crore, with current manufacturing capacity supporting up to around INR400 crore revenue.
- →New greenfield facility adds 50,000 sq. ft expandable space, increasing total manufacturing to 80,000 sq. ft, expected to improve throughput and delivery cycles.
- →Data centre cooling revenues expected to start contributing from FY28 onward, not included in FY27 guidance.
- →Working capital improvements and bank funding/internal accruals to support growth without major equity fundraising.
- →Exports are at a nascent stage; focus currently on marine and defence segments.
- →Order book coverage is strong with 1.8x FY26 revenue, indicating robust future sales visibility.
📈 Profitability & Margins
Rank 2- →Shree Refrigerations targets a 40%-50% CAGR in revenue over the next 4-5 years, aiming for INR1,000 crore revenue by FY30-'31.
- →EBITDA margins expected to remain between 20%-24%, with improvement anticipated as spares and service revenue increases to 15%-20%.
- →PAT growth aligns with revenue growth, aiming for about INR120 crore PAT by FY30-'31.
- →EPS increased from INR5 to INR6.47 post-IPO and with improved profitability.
- →Working capital days reduced significantly from 570 to 370; further improvements expected, easing cash flows.
- →Operating leverage benefits expected: other expenses to grow slower than revenues, helping margin expansion.
- →Data centre revenue to start contributing from FY28, not included in FY27 guidance.
- →Export plans at nascent stage, with potential upside not yet factored into near-term earnings.
🏗️ Capital Expenditure Plans
Yes💰 Fundraising & Capital Structure
Yes- →No immediate external equity fundraising is indicated for growth; internal accruals and bank funding are expected to suffice.
- →The major funding requirement going forward will be for working capital.
- →Management is actively reducing working capital days to optimize fund usage.
- →Current balance sheet is not leveraged, providing capacity to raise necessary funds for working capital via bank debt if required.
- →Minor CapEx planned for business growth, with no major CapEx expected in the near term.
- →IPO of INR95 crores was done earlier, with proceeds utilized effectively; no new equity fundraising announced.
- →Overall, growth aspirations (40-50% CAGR over 4-5 years) will be funded by internal accruals, improving operations, and manageable bank borrowings without significant new equity issuance.
📋 Order Book & Pipeline
Yes- →As of March 31, the order book stood at approximately INR 270 crore.
- →The company has a strong hit rate of nearly 100% in retrofit orders.
- →New build projects have seen some tender losses, but retrofits remain strong.
- →The existing order book includes major orders in HVAC, AC plant, and refrigeration plants.
- →Market size in defence marine ecosystem and non-defence marine is around INR 3,000-3,500 crore over the next 2 to 2.5 years.
- →Approximately 60-odd tenders are expected in the current year.
- →Defence segment tender value expected to be around INR 1,000 crore in FY27, with a current 64% market share.
- →The company aims for significant order inflows in FY27 supported by strong market demand and its position as a turnkey solutions provider.
Key Metrics
Revenue
Margin
Capex
Fundraise
Order Book
Frequently Asked Questions
What were Shree Refrigerations Ltd Q4 FY26 results?
Management targets a 40% CAGR in revenue over the next 4-5 years, aiming to reach INR1,000 crore by FY30-'31. - FY26 revenue was INR153 crore, with current manufacturing capacity supporting up to around INR400 crore revenue. - New greenfield facility adds 50,000 sq. Shree Refrigerations targets a 40%-50% CAGR in revenue over the next 4-5 years, aiming for INR1,000 crore revenue by FY30-'31.
What is Shree Refrigerations Ltd share price analysis?
Shree Refrigerations Ltd currently shows a strong growth signal based on ranking data. The stock trades at a P/E of 52.4 with a market cap of ₹1,129 Cr. Investors should review the full earnings analysis for detailed insights.
Is Shree Refrigerations Ltd planning capital expenditure?
Total CapEx for Phase 1 at Hanbarwadi location is INR 25 crores; most of it done, plant to start June.
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This analysis is AI-generated based on publicly available earnings data and concall transcripts. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.