Pursuant to the Provision of Regulation 30 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements), Regulations, 2015, we hereby ecnlose a press release ....
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Shree Refrigerations Ltd (SRL), a defence-sector cooling solutions provider listed on BSE SME, has signed an MoU with Canada-based Smardt Chillers Pte Ltd through its wholly-owned subsidiary Trezor Technologies Pvt. Ltd. The partnership aims to bring magnetic bearing (oil-free) chiller technology to India's data centre cooling market, which SRL estimates at $1.9 billion. Smardt has over 10,000 chiller installations globally, and its chillers are 20-50% more energy efficient than conventional oil-lubricated systems. SRL has already installed 40+ magnetic bearing chillers in India. Management expects this new data centre vertical to contribute 10-15% of revenues over the next three years. The formal agreement exchange was held on September 9, 2025 at ITC Maratha, Mumbai, and the deal is not a related-party transaction with no impact on management or control.
This marks SRL's entry into the high-growth commercial data centre cooling segment beyond its traditional defence base, potentially adding a meaningful new revenue stream over the next three years. The stock closed slightly down 0.35% at Rs 211.25 on the announcement day, suggesting the market had already priced in some of the news. Investors should watch for execution progress and actual revenue contribution from this vertical.