The strategic association will enable the Indian defence HVAC&R leader to provide advanced oil-free chillers to meet the demand for more efficient cooling solutions in the data center segment in the country
MUMBAI, India, Sept. 11, 2025 /PRNewswire/ — Shree Refrigerations Limited (SRL), (BSE: SHREEREF), a leading player in cooling solutions serving the Defence sector, has announced a strategic association with Smardt Chillers Pte Ltd, the global leader in oil-free chillers for data centre cooling solutions. Through this strategic association, SRL will bring state-of-the-art magnetic bearing chiller technology, specially designed for mission-critical data center applications. The MoU was executed through Trezor Technologies Pvt. Ltd., a wholly-owned SRL subsidiary.
Partnering with a leading global player like Smardt aligns with SRL’s broader growth strategy. Speaking on the development, Mr. RG Shende, Chairman & Managing Director, Shree Refrigerations Limited, said, “Data centers demand the highest levels of efficiency and uptime. Our association with Smardt allows us to deliver cutting-edge magnetic bearing chiller technology to Indian customers, strengthening our commitment to deliver efficient and reliable cooling solutions for mission-critical infrastructure. Since we already have deep expertise in serving critical sectors, equipping India’s frontline warships and submarines, we are confident of providing tremendous value to the growing data center segment in India. This milestone marks a significant step forward in SRL’s growth journey, enabling us to expand beyond our established leadership in defence and industrial cooling, into the rapidly growing data center segment in India.”
This portfolio expansion opens new opportunities beyond SRL’s traditional defence base, adding a strong and scalable growth engine in the commercial cooling segment. Over the next three years, SRL expects this vertical to contribute 10–15% revenues, creating a balanced business mix while unlocking additional growth and margin potential.
Smardt chiller is the global leader in oil-free chillers with more than 10,000 chiller installations worldwide. These chillers, which rely on magnetic bearings instead of oil, deliver substantial power savings and lower maintenance costs. This makes Smardt chillers 20-50% more energy efficient than conventional oil-lubricated chillers, resulting in the lowest power utilization efficiency (PUE) levels—a very important requirement for any data center today—in the industry.
Highlighting the market opportunity, Derek Chan, Director Data Centers (Asia Pacific), Smardt Chillers Pte Ltd, said, “India is one of the fastest-growing data center markets globally, and we are delighted to work with Shree Refrigerations Limited to bring our world-class magnetic bearing chiller technology to this market. With SRL’s strong industry presence and technical expertise, we are confident of delivering unmatched value to customers seeking energy-efficient and future-ready cooling solutions.”
SRL has manufactured, installed and commissioned 40+ magnetic bearing chillers in India, demonstrating its expertise in advanced technology. Its entry into the rapidly growing data center cooling market in India marks a strategic move to cater to more critical sectors in India. By combining Smardt’s cutting-edge global technology, SRL is well-positioned to become a benchmark provider of next-generation cooling solutions along with its proven track record in engineering and service delivery for India’s digital infrastructure. It also positions SRL, through its subsidiary, to play a vital role in building India’s digital infrastructure while aligning with the Government’s vision of energy-efficient, sustainable growth.
About Shree Refrigerations Ltd
Shree Refrigerations Limited (SRL, BSE SME: “SHREEREF”) is a leading Indian engineering company specializing in precision air-conditioning, refrigeration, and turnkey HVAC&R solutions for Defence and Industrial applications. SRL’s headquarters and manufacturing plant is based in Karad, Maharashtra, with a strong sales and service presence in Chennai, Goa, Kolkata, Mumbai, Pune, and Vishakhapatnam. The organization’s indigenous R&D, product innovation and customized engineering delivers cutting-edge solutions that balance performance, reliability, and cost-effectiveness. SRL is also a trusted partner for Pharma and Chemical industries, offering efficient, reliable, and sustainable cooling solutions tailored for critical environments.
Founded with a vision to combine innovation with reliability, SRL has grown from a first-generation small enterprise into a publicly-listed company on the BSE, reflecting its strong foundation and trust built with stakeholders.
About Smardt Chillers Pte Ltd
Smardt Chiller Group is a leader in high-efficiency, oil-free chillers, providing innovative heating and cooling solutions for data centers, industrial applications, and commercial HVAC systems. With a strong focus on efficiency, Smardt’s product lineup includes air-cooled, water-cooled, and modular chiller solutions optimized for performance, reliability, and environmental impact. The introduction of the Smardt ECO platform broadens the company’s portfolio beyond oil-free technology, offering high-efficiency solutions tailored for a wider range of applications. Headquartered in Montreal, Canada, Smardt operates globally, serving customers across North America, Europe, Asia, and Australia.
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