Shree Refrigerations Ltd, a key player in India’s defense manufacturing sector, specializes in advanced cooling systems for the Navy and other defense platforms, ensuring equipment operates effectively under harsh conditions. With a market capitalization of Rs 780 crore, the company reported a decline in revenue and profitability due to increased project costs and a shift towards onsite HVAC projects. Despite these challenges, its order book stands at Rs 327.6 crore, indicating strong future growth potential, especially as it plans to expand its manufacturing capacity and invest in new technologies. As India advances its Aatmanirbhar Bharat initiative, Shree Refrigerations is well-positioned to benefit from increased domestic defense procurement and infrastructure development.