Pursuant to the provision of Regulation 30 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, we hereby submit a copy of the ....
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Shree Refrigerations submitted a corporate presentation to BSE made on September 9, 2025, at a formal exchange of agreement event held at ITC Maratha, Mumbai. The presentation details a strategic partnership with Smardt Chiller Group, a global leader in oil-free magnetic bearing chillers. Shree had earlier partnered with Smardt in 2018 to supply energy-efficient chillers to Indian Naval warships, capturing nearly 100% share of the naval magnetic bearing AC plant market. The two companies are now extending this proven cooperation to the land-based data centre cooling market. Smardt's existing customers include Amazon, Microsoft, Equinix, and NTT. Shree highlighted its trained service engineers based in coastal cities like Navi Mumbai, Vizag, and Chennai, where data centres are concentrated, calling the new tie-up a 'material development'.
This formal partnership announcement positions Shree Refrigerations to tap into India's rapidly growing data centre cooling market, which is expanding due to digitalisation and government policy on data localisation. For shareholders, this represents a significant diversification from naval contracts into a high-growth commercial segment, potentially opening a new revenue stream.