Shree Refrigerations Ltd IPO

About Shree Refrigerations Ltd

Our Company was originally incorporated as a private limited company under the Companies Act, 1956 pursuant to a certificate of incorporation issued by the Registrar of Companies, Pune, Maharashtra dated April 24, 2006, with the name `Shree Refrigerations Private Limited' bearing Corporate Identification Number U29191PN2006PTC128377. Subsequently our Company was converted into a public limited company vide special resolution passed by the shareholders at the Extra Ordinary General Meeting held on May 23, 2023, and the name of our Company was changed from Shree Refrigerations Private Limited to Shree Refrigerations Limited. A fresh Certificate of Incorporation was granted to our Company consequent upon conversion into public limited company dated December 5, 2023, bearing Corporate Identification Number U29191PN2006PLC128377 by the Registrar of Companies, Pune, Maharashtra, at present, the registered office of the company is situated at Plot. No. 131/1+2, Opp. MSEB Stores, Virwade Road, Ogalewadi, Karad, Maharashtra-415105, India.

The global HVAC systems market was estimated at USD 241.52 billion in 2024 and is projected to reach USD 445.73 billion by 2033, growing at a Compound Annual Growth Rate (CAGR) of 7.0% from 2025 to 2033. This growth is propelled by energy efficiency regulations and government incentives for smart and sustainable HVAC systems. Technological advancements, including IoT-enabled monitoring, AI-driven optimization, and integration with renewable energy systems, are further encouraging system upgrades and new installations. Indian HVAC Industry: The Indian HVAC sector is experiencing significant expansion, fueled by rapid urbanization, increasing disposable incomes, and evolving climatic conditions. Government initiatives like 'Make in India' and 'Atmanirbhar Bharat', along with Production Linked Incentive (PLI) schemes, are contributing to the growth of an energy-efficient HVAC market. INDIAN MARINE HVAC The global marine HVAC market is experiencing growth driven by the increasing demand for climate control solutions in various marine vessels, coupled with stringent environmental regulations and technological advancements. Market size: The Marine HVAC Market was estimated at USD 25.69 billion in 2022 and is expected to grow from USD 27.84 billion in 2023 to USD 57.3 billion by 2032, with a CAGR of approximately 8.35% during the forecast period (2024-2032). The market is characterized by increasing environmental regulations, such as the International Maritime Organization's (IMO) 2020 sulfur cap, which has led to demand for energy-efficient and eco-friendly HVAC systems.

Our company is engaged in the business of manufacturing Chillers, refrigeration and air conditioning appliances and other parts of Heating, Ventilation, Air Conditioning (HVAC) Industry, offering array of advanced systems and equipment to industries majorly in domestic market. Our collection of products serves multiple industries including Automotive, Marine, Print Media, Chemical, Pharma and General engineering sectors. We are also actively involved in the manufacturing of marine chillers, having approved supplier registrations from various professional directorates of Indian Navy (Directorate of Electrical Engineering and backed by Directorate of Quality Assurance - Warship Projects).

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