Transcipt of Post Earnings Conference Call of the Company for H2 and FY 2025-26 the held on Tuesday, May 26, 2026 at 3:00 P.M. is attached herewith and also uploaded on website of the Company.
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Shree Refrigerations, a defence HVAC and refrigeration systems supplier, hosted its H2 & FY26 earnings call. Revenue grew over 50% YoY, PAT rose 64% and EPS climbed 28% YoY despite share dilution from the IPO. H2 revenue nearly doubled to about INR 100 cr, lifting H2 EBITDA margin to 26.3% (vs 11% in H1) and full-year EBITDA margin to 22%. The company ended FY26 with an order book of INR 270 cr (1.8x revenue) and holds a 64%+ market share in naval HVAC. Management guided for 40% revenue CAGR over the next 3-5 years, EBITDA margins of 20-24% going forward, and sees the data centre cooling market (via Smardt partnership) as a major growth driver with reference installations targeted in FY27 and meaningful revenue from FY28. New CapEx at the Hanbarwadi plant was around INR 25 cr, and working capital days were cut sharply from 570 to 370 days.
The call reinforces a strong growth-and-margin story: order book visibility is solid, guided 40% CAGR and 20-24% EBITDA margins should support continued re-rating, while the data centre and Danfoss service partnership open a fresh growth lever. Shareholders can take comfort from the sharp improvement in working capital and deleveraging, though execution on data centre revenue and the lumpy H1/H2 delivery pattern remain things to watch.