Shreeref

Karad, India Founded: 1990 • Age: 36 yrs Listed
Fountain solution chillers are manufactured and provided as core services.

About Shreeref

Shreeref is a publicly listed company based in Karad (India) founded in 1990. Fountain solution chillers are manufactured and provided as core services. The company has 74 employees. Its chief executive, as recorded, is Abhijit Saoji. Its Indian entity Shree Refrigerations Limited reported revenue of ₹155 Cr. Its focus areas include Industrial Goods and Manufacturing and Manufacturing Services.

Company details

Shreeref was established in 1990 in Karad, India, where manufacturing operations for fountain solution chillers are conducted. Services focus on the production of these chillers, serving the printing and related industries. Leadership is provided by Managing Director Ravalnath Shende and CEO Abhijit Saoji. The company operates from its base in India, with activities centered on equipment fabrication and supply for specialized cooling needs.

  • Headquarters Karad, India
  • Employees 74
  • Stage Public
  • Sectors
    Industrial Goods & Manufacturing
  • Email
    ••••••••
  • Phone
    •••• ••••
  • Website shreeref.com
  • Social LinkedIn X Facebook Instagram
  • Legal Name Shree Refrigerations Limited
Key Metrics
  • Market Cap
    ₹1,141 Cr

    SHREEREF · BSE

  • Share Price
    ₹306.55

    -3.84% today

  • Revenue
    ₹154 Cr

    FY 2025-26 · +55.5% YoY

  • EBITDA
    ₹32.81 Cr

    Margin 21.4%

  • Net Profit
    ₹21.54 Cr

    FY 2025-26 · +69.5% YoY

  • P/E (TTM)
    56.3x

    P/B 5.6x

  • ROE
    13.0%

    ROCE 13.8%

  • Debt / Equity
    0.25

    Interest cover 13.1x

  • Employee Count
    74

Board of directors of Shree Refrigerations Limited (Shreeref)

Shree Refrigerations Limited is the primary company behind Shreeref. The board of Shree Refrigerations Limited currently have 8 directors; the longest-serving is Ravalnath Gopinath Shende, appointed in 2006. 3 earlier directors have ceased.

DirectorDesignationAppointedTenureEntity
Ravalnath Gopinath Shende
DIN 02028020
Managing Director24 Apr 200620 yrs 6 moShree Refrigerations Limited
Rajashri Ravalnath Shende
DIN 02028006
Whole-time director24 Apr 200620 yrs 6 moShree Refrigerations Limited
Devashree Nampurkar Vishwesh
DIN 03339312
Whole-time director23 May 20233 yrs 5 moShree Refrigerations Limited
Umesh Ramaswamy Shastry
DIN 03194924
Director19 Feb 20242 yrs 8 moShree Refrigerations Limited
Nandkumar Madhav Athawale
DIN 10404830
Director19 Feb 20242 yrs 8 moShree Refrigerations Limited
Lalit Rai
DIN 07480522
Director19 Feb 20242 yrs 8 moShree Refrigerations Limited
Vivek Karnavat
DIN 10631969
Director25 Nov 20241 yr 11 moShree Refrigerations Limited
Sunil Kaushik
DIN 10581764
Whole-time director25 Nov 20241 yr 11 moShree Refrigerations Limited

People of Shreeref

2 people are tracked at Shreeref (2 in leadership); the tracked headcount is 74.

NameRoleGroup
Managing DirectorLeadership
Abhijit Saoji
CEOLeadership
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Complete people profiles for Shreeref

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IPO & Listings of Shreeref

Shreeref is a publicly listed company on the BSE with ticker symbol SHREEREF in India, operating in the Producer manufacturing sector. As a publicly traded entity, the company provides investors with opportunities to participate in its growth story through equity ownership. The listing enables access to capital markets, enhances corporate visibility, and provides liquidity for shareholders while maintaining transparency through regulatory compliance and regular financial disclosures.

  • IPO date01 Aug 2025
  • Listed onBSE: 544458
  • Listed entityShree Refrigerations Limited
  • Exchange sectorProducer manufacturing
  • ISININE0FMZ01045
  • Share price₹354.50 (-1.85% on the day) · 2026-10-14
  • Market capitalisation₹1,313 Cr
  • Price to earnings58.7
  • EPS (diluted, trailing year)₹6.04
  • Volume (last session)101,500

Financials of Shreeref

Exchange-reported figures of Shree Refrigerations Limited, the listed company behind Shreeref (BSE: SHREEREF).

Financial Highlights

FY 2025-26 · Consolidated
Revenue
₹154 Cr
+55.5% YoY
EBITDA
₹32.81 Cr
+21.7% YoY
Profit After Tax
₹21.54 Cr
+69.5% YoY
Net Worth
₹216 Cr
+88.9% YoY
Total Assets
₹254 Cr
+59.1% YoY
Total Debt
₹37.46 Cr
-16.6% YoY

Revenue vs Net Profit ₹ Cr

Margin trends

Financial summary ₹ Cr

MetricsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21
Income statement
Revenue15498.7380.3150.5745.3110.49
Revenue growth+55.5%+22.9%+58.8%+11.6%+331.9%-
EBITDA32.8126.9524.9112.4111.982.77
EBITDA margin+21.4%+27.3%+31.0%+24.5%+26.4%+26.4%
Profit before tax25.0018.5216.904.264.02(0.17)
Net profit21.5412.7111.522.582.95(0.28)
Net profit margin+14.0%+12.9%+14.3%+5.1%+6.5%-2.7%
EPS (₹)6.044.494.7063.3589.72(9.20)
Balance sheet
Total assets25415910178.5564.0545.58
Net worth21611460.7245.2223.8020.85
Total debt37.4644.9138.2732.7034.2119.32
Cash & bank57.665.940.972.442.032.26
Net working capital19813582.6659.2251.7834.05
Cash flow
Cash from operations13.80(24.98)(5.16)(4.46)-(8.67)
Cash from investing(31.12)(9.28)(1.94)(7.63)-(5.65)
Cash from financing69.0339.235.6313.98-14.16
MetricsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Income statement
Revenue15498.7380.3150.5745.3110.4913.07
Revenue growth+55.5%+22.9%+58.8%+11.6%+331.9%-19.7%-
EBITDA32.8126.9624.9112.4112.002.77(1.15)
EBITDA margin+21.4%+27.3%+31.0%+24.5%+26.5%+26.4%-8.8%
Profit before tax24.8218.6917.364.754.550.30(4.45)
Net profit21.4113.1012.203.073.350.06(3.37)
Net profit margin+13.9%+13.3%+15.2%+6.1%+7.4%+0.6%-25.8%
EPS (₹)6.014.634.9875.40101.491.81(105.54)
Balance sheet
Total assets25916510278.3462.4144.0722.95
Net worth22011864.4648.2926.2522.912.84
Total debt39.4646.9235.3029.4330.1315.7418.92
Cash & bank57.515.930.962.422.012.242.40
Net working capital19713582.6659.0450.2932.5612.63
Cash flow
Cash from operations13.85(24.92)(5.33)(5.76)(5.05)(9.06)-
Cash from investing(31.12)(14.38)(2.53)(7.63)(6.35)(5.65)-
Cash from financing68.8544.276.3915.2811.1714.56-

Financial Statements

Figures in ₹ Cr; negatives in brackets. Updated 31 Oct 2026
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21
Revenue15498.7380.3150.5745.3110.49
Revenue growth+55.5%+22.9%+58.8%+11.6%+331.9%-
Other income1.510.360.880.330.090.25
Total expenses12171.7855.4038.1633.337.72
Employee cost18.2811.787.015.496.272.76
EBITDA32.8126.9524.9112.4111.982.77
EBITDA margin+21.4%+27.3%+31.0%+24.5%+26.4%+26.4%
Depreciation5.784.243.823.573.700.45
Interest3.544.555.074.914.352.74
Profit before tax25.0018.5216.904.264.02(0.17)
Tax3.465.915.371.681.070.11
Net profit21.5412.7111.522.582.95(0.28)
Net profit margin+14.0%+12.9%+14.3%+5.1%+6.5%-2.7%
EPS (₹)6.044.494.7063.3589.72(9.20)
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21
Equity & liabilities
Share capital7.135.614.9023.9723.1023.10
Reserves & surplus20910955.8221.250.70(2.25)
Shareholders' funds (net worth)21611460.7245.2223.8020.85
Minority interest0.000.000.000.000.000.00
Secured loans38.3140.7135.1530.5832.7816.25
Unsecured loans(0.85)4.203.122.121.433.07
Total debt37.4644.9138.2732.7034.2119.32
Total liabilities25415910178.5564.0545.58
Assets
Gross block33.3326.4420.6219.5312.7811.32
Net block22.2318.1411.9911.745.784.74
Capital work in progress17.550.060.340.000.811.00
Investments14.906.924.383.590.170.12
Inventories54.7747.4032.2029.9028.1224.50
Sundry debtors10595.1663.5731.5821.292.72
Cash & bank balances57.665.940.972.442.032.26
Loans & advances20.168.997.578.9917.4313.13
Total current assets23815710472.9168.8742.61
Total current liabilities40.4522.6421.6513.6917.098.56
Net working capital19813582.6659.2251.7834.05
Total assets25415910178.5564.0545.58
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21
Opening cash5.940.972.440.54-2.42
Net cash from operating activities13.80(24.98)(5.16)(4.46)-(8.67)
Net cash from investing activities(31.12)(9.28)(1.94)(7.63)-(5.65)
Net cash from financing activities69.0339.235.6313.98-14.16
Net change in cash51.724.97(1.47)1.90-(0.16)
Closing cash57.665.940.972.44-2.26
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21
Growth
Sales growth+55.5%+22.9%+58.8%+11.6%+331.9%-
EBITDA growth+21.7%+8.2%+100.7%+3.6%+332.5%-
PBT growth+35.0%+9.6%+296.7%+6.0%+9998.0%+9997.0%
Net income growth+69.5%+10.3%+346.5%-12.5%+1153.6%-
Revenue CAGR (3Y)+44.8%+29.6%+97.1%---
EBITDA CAGR (3Y)+38.3%+31.0%+108.0%---
Profitability & leverage
Net income margin+14.0%+12.8%+14.4%+5.1%+6.5%-2.7%
Return on capital employed+13.8%+17.7%+24.5%+12.9%+15.3%0.0%
Return on net worth+13.0%+14.4%+26.8%+17.5%+117.3%0.0%
Debt / equity0.250.480.670.971.200.93
Long-term debt / equity0.050.110.120.160.270.32
Interest cover13.1020.0424.0455.5452.54118.10
Efficiency & per share
Fixed asset turnover5.764.714.423.443.760.93
Inventory turnover3.372.792.861.921.720.43
Debtors turnover1.721.401.862.103.773.86
EPS (₹)6.044.494.7063.3589.72(9.20)
Dividend per share (₹)0.000.000.000.010.000.00
Book value per share (₹)60.5840.7224.79623.12121.2131.49
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Revenue15498.7380.3150.5745.3110.4913.07
Revenue growth+55.5%+22.9%+58.8%+11.6%+331.9%-19.7%-
Other income1.510.360.880.330.090.250.09
Total expenses12171.7755.4038.1633.317.7214.22
Employee cost18.2811.787.015.496.272.764.08
EBITDA32.8126.9624.9112.4112.002.77(1.15)
EBITDA margin+21.4%+27.3%+31.0%+24.5%+26.5%+26.4%-8.8%
Depreciation5.784.153.823.573.700.450.51
Interest3.724.484.614.423.842.272.88
Profit before tax24.8218.6917.364.754.550.30(4.45)
Tax3.415.695.151.681.200.24(1.08)
Net profit21.4113.1012.203.073.350.06(3.37)
Net profit margin+13.9%+13.3%+15.2%+6.1%+7.4%+0.6%-25.8%
EPS (₹)6.014.634.9875.40101.491.81(105.54)
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Equity & liabilities
Share capital7.135.614.9023.9723.1023.103.19
Reserves & surplus21311359.5624.323.15(0.19)(0.35)
Shareholders' funds (net worth)22011864.4648.2926.2522.912.84
Secured loans41.0243.1932.1827.3128.7012.6713.29
Unsecured loans(1.56)3.733.122.121.433.075.63
Total debt39.4646.9235.3029.4330.1315.7418.92
Total liabilities25916510278.3462.4144.0722.95
Assets
Gross block37.6230.7419.2318.1311.389.929.70
Net block26.5222.4410.6010.344.383.343.56
Capital work in progress17.550.060.340.000.811.000.72
Investments16.578.596.055.261.841.791.79
Inventories54.7747.4032.2029.9028.1224.508.04
Sundry debtors10595.1663.5731.5821.292.725.72
Cash & bank balances57.515.930.962.422.012.242.40
Loans & advances20.168.997.578.9915.9511.653.16
Total current assets23815710472.8967.3741.1119.32
Total current liabilities40.5022.6921.6413.8517.088.556.69
Net working capital19713582.6659.0450.2932.5612.63
Total assets25916510278.3462.4144.0722.95
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Opening cash5.930.962.420.532.242.40-
Net cash from operating activities13.85(24.92)(5.33)(5.76)(5.05)(9.06)-
Net cash from investing activities(31.12)(14.38)(2.53)(7.63)(6.35)(5.65)-
Net cash from financing activities68.8544.276.3915.2811.1714.56-
Net change in cash51.584.97(1.47)1.90(0.23)(0.16)-
Closing cash57.515.930.962.422.012.24-
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Growth
Sales growth+55.5%+22.9%+58.8%+11.6%+331.9%-19.7%-
EBITDA growth+21.7%+8.2%+100.7%+3.4%+333.2%+340.9%-
PBT growth+32.8%+7.7%+265.5%+4.4%+1416.7%+9998.0%+9997.0%
Net income growth+63.4%+7.4%+297.4%-8.4%+5483.3%+101.8%-
Revenue CAGR (3Y)+44.8%+29.6%+97.1%+57.0%---
EBITDA CAGR (3Y)+38.3%+31.0%+108.0%----
Profitability & leverage
Net income margin+13.9%+13.2%+15.2%+6.1%+7.4%+0.6%-25.8%
Return on capital employed+13.4%+17.4%+23.9%+13.0%+15.7%+7.6%0.0%
Return on net worth+12.7%+15.0%+23.7%+17.6%+68.0%+1.9%0.0%
Debt / equity0.260.420.560.800.931.356.66
Long-term debt / equity0.050.040.020.040.090.382.32
Interest cover13.7619.6421.8650.0046.2797.84-173.49
Efficiency & per share
Fixed asset turnover5.034.444.303.774.251.071.57
Inventory turnover3.372.792.591.921.720.641.89
Debtors turnover1.721.401.692.103.772.492.66
EPS (₹)6.014.634.9875.40101.491.81(105.54)
Dividend per share (₹)0.000.000.000.010.000.000.00
Book value per share (₹)61.6442.1126.32698.65195.6394.1489.11

Web traffic of Shreeref

The website of Shreeref (shreeref.com) receives about 2.3K visits a month.

  • Monthly visits
    2.3K

    ▼ 25% vs previous month

Top companies in Contract & Outsourced Manufacturing

3 companies that operate in the same segment as Shreeref (Contract & Outsourced Manufacturing) in India, ranked by their profile score on The Company Check.

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Industrial components, mould bases, and storage solutions are manufactured globally.
1986Coimbatore, Tamil Nadu, IndiaUSD 28 MUSD 853.09 M3,060
Single- and three-phase transformers are manufactured in Mumbai.
1993Mumbai, Maharashtra, IndiaUSD 114.37 M618
Apparel and clothing are manufactured and exported on contract.
1979Bengaluru, Karnataka, IndiaUSD 400 M40,280
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Related news about Shreeref

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Frequently Asked Questions about Shreeref

Shreeref was founded in 1990.

Shreeref is headquartered in Karad, India. It is registered at Karad, Maharashtra, India.

Abhijit Saoji is the CEO of Shreeref, as recorded in our data.

Shreeref has 74 employees.

The primary company behind Shreeref, Shree Refrigerations Limited, reported revenue of ₹155 Cr for FY 2026, up 56% year on year.

Shreeref was established in 1990 in Karad, India, where manufacturing operations for fountain solution chillers are conducted. Services focus on the production of these chillers, serving the printing and related industries. Leadership is provided by Managing Director Ravalnath Shende and CEO Abhijit Saoji. The company operates from its base in India, with activities centered on equipment fabrication and supply for specialized cooling needs.

Yes, Shreeref is publicly traded on BSE under the ticker symbol SHREEREF.

Shreeref operates through Shree Refrigerations Limited.

The legal entities of Shreeref currently have 11 directors, including Umesh Ramaswamy Shastry, Sudhakar Sadashiv Khirai, Nandkumar Madhav Athawale and others.

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