In a boost for India’s defence manufacturing ecosystem, Shree Refrigerations Ltd. (SRL), one of India’s leading defence-focused manufacturers, for vertical integration on Saturday inaugurated its new manufacturing facility in Karad, Maharashtra that would produce and supply advanced refrigeration and HVAC (Heating, Ventilation, Air Conditioning) systems to Indian Navy and strategic defence sectors.

The facility, funded partly from the proceeds of a recent IPO, was inaugurated by Vice Admiral B. Sivakumar, AVSM, VSM, Chief of Materiel, Indian Navy amidst the presence of local citizens and company employees. 

“The new facility marks a significant milestone in the company’s journey towards strengthening indigenous manufacturing capabilities in line with the Government of India’s ‘Make in India’ initiative,” said R. G. Shende, Chairman and Managing Director of Shree Refrigerations Ltd

“In the initial phase of the new facility, our focus will be on improving efficiency and strengthening the supply chain. This will improve manufacturing time and reduce logistical delays,” he said.

“The facility will also contribute to local employment generation and support the growth of the domestic manufacturing ecosystem,” he further said.

Developed in an area of over six acres, the new facility houses advanced manufacturing equipment like robotic welding, laser cutting, bending machines etc. and backwardly integrates various processes, including shot blasting and painting. 

With this, the company’s manufacturing footprint gets enhanced by 50,000 square feet, with the possibility of adding an additional 50,000 square feet, to meet future expansion requirements. 

It has been developed in compliance with the Indian Green Building Council (IGBC) standards.

Speaking on the occasion, Vice Admiral B. Sivakumar highlighted the importance of strengthening domestic manufacturing capabilities in alignment with the Government of India’s vision of self-reliance (Atmanirbhar Bharat). 

He noted that investments in modern manufacturing facilities such as this contribute to the development of a robust indigenous supply chain and support the nation’s long-term growth, particularly in the marine and defence sectors.

With this facility, the company which first started business operations 35 years back, is eyeing Compounded Annual Growth Rate (CAGR) of 40 to 45% for the next 3 to 5 years. 

In FY26 it had reported revenue of ₹155 crore and net profit of ₹21.4 crore, up 65% YoY.