ICEMAKE · NSE
Ice Make Refrigeration Limited
₹693.7
+1.18% (+₹8.1)
Prev. close
₹685.6
Volume
11,131
Delivery %
58.0%
As of
21 Sept 2026
Price history
No analyst calls on this stock in the last 90 days yet.
Explore by date range →Analyst opinions
Fundamentals
About Ice Make Refrigeration Limited
Ice Make Refrigeration Limited, together with its subsidiaries, manufactures and supplies refrigeration products and equipment under the Ice Make, Bharat, and TransFreez brands in India. The company offers cold storage products, including modular, combi, walk-in, custom-built, and solar cold rooms, as well as blast freezers and chillers, glass door display chillers, ripening chambers, cold room PUF panel and accessories, and cold room refrigeration units; and chest freezers and visi coolers. It also provides commercial refrigeration consisting of dairy processing plant solutions; curd incubation and mortuary chambers; ice cream plants; bulk milk chillers; batch pasteurizers; ageing vat; ice candy production machines; ice cream hardeners; mini blast freezers and chillers; heat pump food dehydrators; vacuum freeze dryers; and commercial, reach-in, and merchandising freezers. In addition, the company offers continuous sandwich PUF panels; industrial refrigeration products, including chilling plants and ice building tanks; transport refrigeration products comprising refrigerator, eutectic mobile, dry insulated, and MS corrugated refrigerated containers; and ammonia refrigeration products, such as turnkey projects for cold storages, and glycol and water chillers. It sells its products through dealers. The company exports its products to approximately 24 countries. It serves the dairy, agriculture, cold chain, food processing, retail, pharmaceutical, ice cream, hospitality, hospital, logistics, chemical, and e-commerce industries. Ice Make Refrigeration Limited was founded in 1989 and is headquartered in Gandhinagar, India.
Details
Sector
Industrials
Industry
Specialty Industrial Machinery
CEO
Mr. M. Srinivas Reddy
Headquarters
Gandhinagar
Employees
432
Website
icemakeindia.comExchange
View on NSE ↗Key stats
Market cap
₹1,094.64 Cr
P/E ratio (TTM)
91.2
Dividend yield
0.33%
EPS (TTM)
₹7.61
Beta (1Y · daily vs NIFTY 50)
0.89
Beta (5Y · monthly vs NIFTY 50)
1.28
Shares float
45.06 L
EPS · quarter ended Jun 2026
₹-1.04
Financial Performance
01 · Financials
FY21 growth needs FY20 filings, which the data source doesn't provide.
02 · Earnings Per Share (EPS)
03 · Dividend Profile
Growth compares completed fiscal-year dividend totals on the company's own calendar: April–March (Indian FY), taken from its reported period-ends. Payout ledger: NSE corporate actions.
04 · Operating Efficiency (Growth Rates)
Balance-sheet-based
05 · Capital Structure & Asset Utilization
Asset turnover needs a prior year of assets — omitted for the earliest available year.
06 · Asset Base Composition
07 · Debt Level & Coverage
08 · Profit & Loss
Annual
| Line item | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| ₹134.65 Cr | ₹206.10 Cr | ₹312.21 Cr | ₹378.38 Cr | ₹479.52 Cr | ₹668.20 Cr | |
| EBITDA | ₹11.55 Cr | ₹15.19 Cr | ₹33.23 Cr | ₹40.93 Cr | ₹43.44 Cr | ₹44.60 Cr |
| ₹3.61 Cr | ₹7.32 Cr | ₹20.80 Cr | ₹26.25 Cr | ₹23.11 Cr | ₹12.19 Cr | |
| Diluted EPS | ₹2.3 | ₹4.65 | ₹13.19 | ₹16.56 | ₹14.65 | ₹7.73 |
09 · Balance Sheet
Annual
| Line item | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| ₹108.00 Cr | ₹125.00 Cr | ₹159.00 Cr | ₹211.00 Cr | ₹368.00 Cr | ₹504.00 Cr | |
| ₹9.87 Cr | ₹11.02 Cr | ₹4.86 Cr | ₹27.25 Cr | ₹85.93 Cr | ₹158.41 Cr | |
| Stockholders' equity | ₹57.00 Cr | ₹62.00 Cr | ₹81.00 Cr | ₹104.00 Cr | ₹124.00 Cr | ₹133.00 Cr |
CWIP, Others, Long-term debt, Current (short-term) debt have filed figures for only some of the years shown — the missing years are left blank rather than estimated.
Annual only — the data source doesn’t publish quarterly balance-sheet detail for most NSE-listed companies.
10 · Cash Flow Statement
Annual
| Line item | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| ₹12.35 Cr | ₹8.31 Cr | ₹24.35 Cr | ₹10.38 Cr | ₹29.97 Cr | ₹-10.57 Cr | |
| Investing cash flow | ₹-3.32 Cr | ₹-4.82 Cr | ₹-14.29 Cr | ₹-23.30 Cr | ₹-83.35 Cr | ₹-40.45 Cr |
| ₹-9.24 Cr | ₹-3.42 Cr | ₹-9.27 Cr | ₹16.72 Cr | ₹48.67 Cr | ₹52.42 Cr | |
| Capital expenditure | ₹-4.90 Cr | ₹-4.03 Cr | ₹-3.77 Cr | ₹-33.03 Cr | ₹-82.33 Cr | ₹-39.92 Cr |
| End cash position | ₹42.04 L | ₹49.23 L | ₹1.28 Cr | ₹5.08 Cr | ₹37.79 L | ₹1.77 Cr |
Annual only — the data source has no quarterly cash-flow-statement coverage.
11 · Shareholding Pattern
NSE, quarterly
| Line item | Sep 21 | Dec 21 | Mar 22 | Jun 22 | Sep 22–Dec 24(10Q) | Mar 25 | Jun 25 | Sep 25 | Dec 25 | Mar 26–Jun 26(2Q) |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 74.82% | 74.86% | 74.89% | 74.63% | 74.49% | 74.41% | 74.40% | 74.36% | 74.26% | 74.20% |
| Public | 25.18% | 25.14% | 25.11% | 25.37% | 25.51% | 25.59% | 25.60% | 25.64% | 25.74% | 25.80% |
| Employee trusts | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Source: NSE quarterly shareholding-pattern filings, collapsed to periods where the reported percentages held steady — a column spanning several quarters means no change was filed across them. No FII/DII sub-split available from this source — Public includes all non-promoter, non-employee-trust holders.
12 · Peer Comparison
Industrials
| Company | ||||||||
|---|---|---|---|---|---|---|---|---|
| Larsen & Toubro Limited | ₹5.35 L Cr | ₹3,904.8 | 32.3 | 4.89 | 14.7% | 1.15 | +11.8% | +6.2% |
| Adani Ports and Special Economic Zone Limited | ₹4.20 L Cr | ₹1,787.1 | 31.2 | 4.37 | 13.3% | 0.66 | +27.1% | +25.2% |
| Hindustan Aeronautics Limited | ₹3.21 L Cr | ₹4,826 | 34.5 | 7.82 | 22.2% | 0.00 | +5.6% | -1.8% |
| Bharat Electronics Limited | ₹2.87 L Cr | ₹398.5 | 46.7 | 11.98 | 25.3% | 0.00 | +15.9% | -2.5% |
| InterGlobe Aviation Limited | ₹1.90 L Cr | ₹4,941 | — | 27.29 | -34.3% | 11.15 | +6.6% | -13.0% |
| ABB India Limited | ₹1.54 L Cr | ₹7,271 | 97.1 | 19.66 | 21.3% | 0.01 | +8.1% | +33.7% |
| Bharat Heavy Electricals Limited | ₹1.53 L Cr | ₹433.4 | 62.9 | 5.86 | 6.1% | 0.31 | +18.3% | +82.7% |
| Hitachi Energy India Limited | ₹1.46 L Cr | ₹31,870 | 126.6 | 28.16 | 19.1% | 0.02 | +27.2% | +67.5% |
| Cummins India Limited | ₹1.41 L Cr | ₹5,067 | 59.9 | 16.68 | 27.9% | 0.00 | +16.9% | +24.2% |
| CG Power and Industrial Solutions Limited | ₹1.41 L Cr | ₹910 | 112.3 | 17.63 | 15.1% | 0.01 | +25.1% | +16.8% |
| Siemens Limited | ₹1.39 L Cr | ₹3,887 | 82.6 | 10.54 | 15.9% | 0.01 | +16.2% | +16.9% |
| Ice Make Refrigeration Limited | ₹1,081.86 Cr | ₹693.7 | 90.1 | 8.13 | 9.2% | 1.19 | +39.4% | -8.7% |
Ranked by market cap within Industrials, same metrics as the Fundamentals screener. Click a column to sort.
Documents
Annual reports
Concall transcripts
Show all 18
Official documents linked from their sources — offer documents as filed with SEBI (sebi.gov.in), annual reports and earnings-call transcripts as published on BSE (bseindia.com) and NSE (nseindia.com). Links open the source's own hosting; nothing is re-hosted here.
Ice Make Refrigeration (NSE:ICEMAKE): Has It Filed the SEBI ICDR Auditor Compliance Certificate?
Kalkine India · 12 days ago
Ice Make Refrigeration ICEMAKE Preferential Allotment Sep 2026
Ice Make Refrigeration's board approved a preferential allotment of 2,367,573 equity shares at Rs 802.51 each to three non-promoter investors, including Galilei Holdings Co. Ltd. The company also approved a Rs 35.27 crore subscription to its joint venture, Ice Make Horeca Private Limited, for a 40% stake. This move introduces a new significant shareholder and expands the company's joint venture operations.