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Ice Make Refrigeration Limited

NSE: ICEMAKECapital Goods

Ice Make Refrigeration Limited Share Price & Analysis

₹738.60−0.09%Updated 4 Sept 2026, 03:30 pm IST
LTP
₹738.60−0.09%
Open
₹739.25
High
₹743.70
Low
₹735.05
Close
₹738.60
52W High
₹920.00
52W Low
₹660.00
Volume
7K
Lot Size
1
Sector
Capital Goods
Market Cap
₹1K Cr
Face Value
₹10
Small Cap

Price Chart

Candle
Range

Fundamentals

P/E
97.40
Sector P/E
48.40
P/B
8.61
EPS
₹8.74
ROE
9.49%
ROCE
11.60%
D/E Ratio
1.40
Div Yield
0.30%
Book Value
₹84.30

Strengths

    Concerns

    • Premium to sector peers (P/E 97.4x vs industry 48.4x)
    • High premium to book value (P/B 8.6x)

    Peer Comparison

    CompanyCMPMkt CapP/EP/BROE %ROCE %D/E
    HAL
    Hindustan Aeronautics Limited
    ₹4,856
    		₹3.2L Cr34.87.9124320
    BEL
    Bharat Electronics Limited
    ₹405
    		₹3.0L Cr48.212.3627.436.40
    TMCV
    Tata Motors Limited
    ₹475
    −0.03%    		₹1.7L Cr22.710.713435.90.44
    ABB
    ABB India Limited
    ₹7,410
    		₹1.6L Cr10216.822.429.90.02
    BHEL
    Bharat Heavy Electricals Limited
    ₹431
    		₹1.5L Cr61.75.746.239.140.45
    SIEMENS
    Siemens Limited
    ₹3,977
    		₹1.4L Cr94.210.2219.221.40.01
    CGPOWER
    CG Power and Industrial Solutions Limited
    ₹891
    		₹1.4L Cr11017.6120.526.70.02

    Showing 7 peers in the same sector · Sorted by market cap

    Shareholding Pattern

    ICEMAKE · as of Mar 2026

    Promoters74.41%0.08pp
    FII0.33%
    DII0.87%0.29pp
    Public24.39%0.54pp
    CategoryDec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
    Promoters74.49%74.49%74.49%74.49%74.49%74.41%
    FII0.02%—0.02%——0.33%
    DII————0.58%0.87%
    Public25.49%25.51%25.50%25.51%24.93%24.39%

    Corporate Events

    To consider and approve the financial results for the period ended March 31, 2026 and dividend

    Dividend28 May 2026

    Dividend - Rs 2.25 Per Share

    Record: 19 Sept 2025

    Dividend18 Sept 2025

    Annual General Meeting/Dividend - Rs 2 Per Share

    Dividend19 Sept 2024

    Annual General Meeting/Dividend - Rs 1.80 Per Share

    Dividend14 Sept 2023

    Latest News

    All news

    Ice Make Refrigeration hosts analyst con-call

    *Ice Make Refrigeration hosts analyst con-call* to discuss business updates and strategy. The session aimed at enhancing investor engagement and providing operational insights. No major financial announcements or guidance revisions were disclosed. Such meets typically result in marginal trading activity unless new catalysts emerge. 📊 *STOCKS:* ICEMAKEREFRIG | 🏢 *SECTOR:* CapitalMarkets | #LOWIMPACT #ConCall

    NSE Filing21 Aug
    Low Impact

    Ice Make Refrigeration publishes newspaper notice for general meeting.

    *Ice Make Refrigeration publishes newspaper notice for general meeting.* This is a routine compliance filing related to an upcoming shareholder meeting. No financial or operational updates were disclosed. Such publications are standard procedure under corporate regulations. 📊 *STOCKS:* $ICEMAKERE | 🏢 *SECTOR:* CapitalMarkets | #LOWIMPACT #CorporateFiling

    NSE Filing14 Aug
    Low Impact

    Ice Make Refrigeration ties up with Japan’s Galilei for JV and investment

    *Ice Make Refrigeration ties up with Japan’s Galilei for JV and investment.* The partnership includes a strategic investment by Galilei Holdings and the formation of a joint venture to expand cold chain and refrigeration solutions. The move aims to enhance technology transfer and scale operations in India and overseas. Financial terms were not fully disclosed. 📊 *STOCKS:* $ICEMAKERE | 🏢 *SECTOR:* CapitalMarkets | #MEDIUMIMPACT #JointVenture

    The Tribune29 Jul
    Medium Impact

    Financials

    Quarterly Results

    MetricDec 2025Sep 2025Jun 2025Mar 2025Dec 2024Sep 2024Jun 2024Mar 2024
    Revenue
    ₹153.36 Cr
    4.0%
    ₹147.49 Cr
    32.3%
    ₹111.5 Cr
    38.2%
    ₹180.35 Cr
    63.1%
    ₹110.56 Cr
    6.9%
    ₹103.39 Cr
    21.3%
    ₹85.23 Cr
    39.1%
    ₹139.92 Cr
    Op. Profit
    ₹9.9 Cr
    3.0%
    ₹9.61 Cr
    118.4%
    ₹4.4 Cr
    79.4%
    ₹21.39 Cr
    220.7%
    ₹6.67 Cr
    21.1%
    ₹8.45 Cr
    39.9%
    ₹6.04 Cr
    70.8%
    ₹20.69 Cr
    OPM
    6.5%
    0.9%
    6.5%
    65.1%
    4.0%
    66.7%
    11.9%
    96.7%
    6.0%
    26.2%
    8.2%
    15.2%
    7.1%
    52.1%
    14.8%
    Net Profit
    ₹1.45 Cr
    28.6%
    ₹2.03 Cr
    238.1%
    ₹-1.47 Cr
    112.6%
    ₹11.67 Cr
    315.3%
    ₹2.81 Cr
    41.3%
    ₹4.79 Cr
    31.6%
    ₹3.64 Cr
    74.5%
    ₹14.26 Cr
    EPS (₹)
    0.93
    27.9%
    1.29
    243.3%
    -0.9
    112.1%
    7.42
    307.7%
    1.82
    40.3%
    3.05
    29.8%
    2.35
    74.1%
    9.06

    Values in ₹ Cr · Source: Screener.in

    Annual Profit & Loss

    MetricMar 2025Mar 2024Mar 2023Mar 2022Mar 2021Mar 2020Mar 2019Mar 2018Mar 2017
    Revenue
    ₹480 Cr
    27.0%
    ₹378 Cr
    21.2%
    ₹312 Cr
    51.5%
    ₹206 Cr
    52.6%
    ₹135 Cr
    2.2%
    ₹138 Cr
    4.5%
    ₹132 Cr
    28.2%
    ₹103 Cr
    17.0%
    ₹88 Cr
    Expenses
    ₹437 Cr
    29.3%
    ₹338 Cr
    20.7%
    ₹280 Cr
    45.8%
    ₹192 Cr
    54.8%
    ₹124 Cr
    0.8%
    ₹125 Cr
    5.9%
    ₹118 Cr
    31.1%
    ₹90 Cr
    15.4%
    ₹78 Cr
    Op. Profit
    ₹43 Cr
    4.9%
    ₹41 Cr
    28.1%
    ₹32 Cr
    128.6%
    ₹14 Cr
    40.0%
    ₹10 Cr
    23.1%
    ₹13 Cr
    7.1%
    ₹14 Cr
    7.7%
    ₹13 Cr
    30.0%
    ₹10 Cr
    OPM
    9.0%
    18.2%
    11.0%
    10.0%
    10.0%
    42.9%
    7.0%
    12.5%
    8.0%
    11.1%
    9.0%
    10.0%
    10.0%
    16.7%
    12.0%
    9.1%
    11.0%
    Other Income
    ₹1 Cr
    0.0%
    ₹1 Cr
    0.0%
    ₹1 Cr
    0.0%
    ₹1 Cr
    0.0%
    ₹1 Cr
    ₹0 Cr
    ₹0 Cr
    ₹0 Cr
    ₹0 Cr
    Interest
    ₹4 Cr
    100.0%
    ₹2 Cr
    100.0%
    ₹1 Cr
    50.0%
    ₹2 Cr
    0.0%
    ₹2 Cr
    0.0%
    ₹2 Cr
    100.0%
    ₹1 Cr
    50.0%
    ₹2 Cr
    100.0%
    ₹1 Cr
    Depreciation
    ₹8 Cr
    100.0%
    ₹4 Cr
    0.0%
    ₹4 Cr
    0.0%
    ₹4 Cr
    0.0%
    ₹4 Cr
    33.3%
    ₹3 Cr
    50.0%
    ₹2 Cr
    0.0%
    ₹2 Cr
    0.0%
    ₹2 Cr
    PBT
    ₹31 Cr
    11.4%
    ₹35 Cr
    25.0%
    ₹28 Cr
    180.0%
    ₹10 Cr
    100.0%
    ₹5 Cr
    37.5%
    ₹8 Cr
    27.3%
    ₹11 Cr
    10.0%
    ₹10 Cr
    42.9%
    ₹7 Cr
    Tax %
    26.0%
    0.0%
    26.0%
    0.0%
    26.0%
    4.0%
    25.0%
    21.9%
    32.0%
    23.1%
    26.0%
    10.3%
    29.0%
    9.4%
    32.0%
    0.0%
    32.0%
    Net Profit
    ₹23 Cr
    11.5%
    ₹26 Cr
    23.8%
    ₹21 Cr
    200.0%
    ₹7 Cr
    75.0%
    ₹4 Cr
    33.3%
    ₹6 Cr
    14.3%
    ₹7 Cr
    0.0%
    ₹7 Cr
    40.0%
    ₹5 Cr
    EPS (₹)
    14.65
    12.0%
    16.64
    26.3%
    13.18
    182.8%
    4.66
    102.6%
    2.3
    36.8%
    3.64
    23.7%
    4.77
    12.8%
    4.23
    39.1%
    6.95
    Div Payout
    15.0%
    25.0%
    12.0%
    14.3%
    14.0%
    46.2%
    26.0%
    50.0%
    52.0%
    57.6%
    33.0%
    32.0%
    25.0%
    4.2%
    24.0%
    0.0%

    Values in ₹ Cr · Source: Screener.in

    Balance Sheet

    ItemSep 2025Mar 2025Mar 2024Mar 2023Mar 2022Mar 2021Mar 2020Mar 2019Mar 2018Mar 2017
    Liabilities
    Equity Capital
    ₹16 Cr
    0.0%
    ₹16 Cr
    0.0%
    ₹16 Cr
    0.0%
    ₹16 Cr
    0.0%
    ₹16 Cr
    0.0%
    ₹16 Cr
    0.0%
    ₹16 Cr
    0.0%
    ₹16 Cr
    0.0%
    ₹16 Cr
    128.6%
    ₹7 Cr
    Reserves
    ₹105 Cr
    2.8%
    ₹108 Cr
    22.7%
    ₹88 Cr
    35.4%
    ₹65 Cr
    41.3%
    ₹46 Cr
    12.2%
    ₹41 Cr
    7.9%
    ₹38 Cr
    11.8%
    ₹34 Cr
    17.2%
    ₹29 Cr
    262.5%
    ₹8 Cr
    Borrowings
    ₹169 Cr
    96.5%
    ₹86 Cr
    218.5%
    ₹27 Cr
    440.0%
    ₹5 Cr
    54.5%
    ₹11 Cr
    10.0%
    ₹10 Cr
    41.2%
    ₹17 Cr
    466.7%
    ₹3 Cr
    70.0%
    ₹10 Cr
    33.3%
    ₹15 Cr
    Other Liabilities
    ₹137 Cr
    13.3%
    ₹158 Cr
    97.5%
    ₹80 Cr
    9.6%
    ₹73 Cr
    40.4%
    ₹52 Cr
    23.8%
    ₹42 Cr
    23.5%
    ₹34 Cr
    17.2%
    ₹29 Cr
    7.4%
    ₹27 Cr
    8.0%
    ₹25 Cr
    Total Liabilities
    ₹426 Cr
    15.8%
    ₹368 Cr
    74.4%
    ₹211 Cr
    32.7%
    ₹159 Cr
    27.2%
    ₹125 Cr
    15.7%
    ₹108 Cr
    2.9%
    ₹105 Cr
    26.5%
    ₹83 Cr
    2.5%
    ₹81 Cr
    47.3%
    ₹55 Cr
    Assets
    Fixed Assets
    ₹141 Cr
    6.0%
    ₹133 Cr
    166.0%
    ₹50 Cr
    56.3%
    ₹32 Cr
    0.0%
    ₹32 Cr
    6.7%
    ₹30 Cr
    11.1%
    ₹27 Cr
    17.4%
    ₹23 Cr
    76.9%
    ₹13 Cr
    18.2%
    ₹11 Cr
    CWIP
    ₹12 Cr
    100.0%
    ₹6 Cr
    50.0%
    ₹12 Cr
    ₹0 Cr
    ₹0 Cr
    100.0%
    ₹1 Cr
    ₹0 Cr
    ₹0 Cr
    100.0%
    ₹1 Cr
    ₹0 Cr
    Investments
    ₹0 Cr
    ₹0 Cr
    ₹0 Cr
    100.0%
    ₹5 Cr
    ₹0 Cr
    ₹0 Cr
    ₹0 Cr
    ₹0 Cr
    ₹0 Cr
    ₹0 Cr
    Other Assets
    ₹274 Cr
    19.7%
    ₹229 Cr
    53.7%
    ₹149 Cr
    22.1%
    ₹122 Cr
    31.2%
    ₹93 Cr
    20.8%
    ₹77 Cr
    1.3%
    ₹78 Cr
    30.0%
    ₹60 Cr
    11.8%
    ₹68 Cr
    54.5%
    ₹44 Cr
    Total Assets
    ₹426 Cr
    15.8%
    ₹368 Cr
    74.4%
    ₹211 Cr
    32.7%
    ₹159 Cr
    27.2%
    ₹125 Cr
    15.7%
    ₹108 Cr
    2.9%
    ₹105 Cr
    26.5%
    ₹83 Cr
    2.5%
    ₹81 Cr
    47.3%
    ₹55 Cr

    Values in ₹ Cr · Source: Screener.in

    Cash Flow Statement

    ItemMar 2025Mar 2024Mar 2023Mar 2022Mar 2021Mar 2020Mar 2019Mar 2018Mar 2017
    Operating CF
    ₹30 Cr
    200.0%
    ₹10 Cr
    58.3%
    ₹24 Cr
    200.0%
    ₹8 Cr
    33.3%
    ₹12 Cr
    1300.0%
    ₹-1 Cr
    112.5%
    ₹8 Cr
    500.0%
    ₹-2 Cr
    125.0%
    ₹8 Cr
    Investing CF
    ₹-83 Cr
    260.9%
    ₹-23 Cr
    64.3%
    ₹-14 Cr
    180.0%
    ₹-5 Cr
    66.7%
    ₹-3 Cr
    57.1%
    ₹-7 Cr
    41.7%
    ₹-12 Cr
    200.0%
    ₹-4 Cr
    0.0%
    ₹-4 Cr
    Financing CF
    ₹49 Cr
    188.2%
    ₹17 Cr
    288.9%
    ₹-9 Cr
    200.0%
    ₹-3 Cr
    66.7%
    ₹-9 Cr
    250.0%
    ₹6 Cr
    160.0%
    ₹-10 Cr
    162.5%
    ₹16 Cr
    ₹0 Cr
    Net Cash Flow
    ₹-5 Cr
    225.0%
    ₹4 Cr
    300.0%
    ₹1 Cr
    ₹0 Cr
    ₹0 Cr
    100.0%
    ₹-2 Cr
    84.6%
    ₹-13 Cr
    218.2%
    ₹11 Cr
    266.7%
    ₹3 Cr
    Free Cash Flow
    ₹-52 Cr
    126.1%
    ₹-23 Cr
    209.5%
    ₹21 Cr
    425.0%
    ₹4 Cr
    42.9%
    ₹7 Cr
    177.8%
    ₹-9 Cr
    200.0%
    ₹-3 Cr
    57.1%
    ₹-7 Cr
    275.0%
    ₹4 Cr

    Values in ₹ Cr · Source: Screener.in

    Key Ratios History

    MetricMar 2025Mar 2024Mar 2023Mar 2022Mar 2021Mar 2020Mar 2019Mar 2018Mar 2017
    Debtor Days
    72d
    14.3%
    63d
    0.0%
    63d
    5.0%
    60d
    11.8%
    68d
    1.4%
    69d
    15.0%
    60d
    23.1%
    78d
    18.2%
    66d
    Inventory Days
    118d
    40.5%
    84d
    2.3%
    86d
    30.1%
    123d
    23.6%
    161d
    3.2%
    156d
    28.9%
    121d
    10.4%
    135d
    18.4%
    114d
    Days Payable
    121d
    59.2%
    76d
    9.5%
    84d
    1.2%
    83d
    19.4%
    103d
    12.0%
    92d
    8.2%
    85d
    11.5%
    96d
    11.9%
    109d
    Cash Conv. Cycle
    69d
    2.8%
    71d
    10.9%
    64d
    36.0%
    100d
    20.0%
    125d
    5.3%
    132d
    37.5%
    96d
    17.2%
    116d
    63.4%
    71d
    Working Capital Days
    21d
    56.3%
    48d
    11.6%
    43d
    18.9%
    53d
    23.2%
    69d
    11.3%
    62d
    3.1%
    64d
    23.1%
    52d
    477.8%
    9d
    ROCE
    21.0%
    38.2%
    34.0%
    8.1%
    37.0%
    117.6%
    17.0%
    70.0%
    10.0%
    33.3%
    15.0%
    31.8%
    22.0%
    18.5%
    27.0%
    —

    Source: Screener.in · Lower days = better efficiency

    About Ice Make Refrigeration Limited

    Incorporated in 1993, ICE Make Refrigeration Ltd provides customized cooling solutions across a wide range of industries[1]

    Capital GoodsIndustrial Manufacturing

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    Frequently Asked Questions

    What is Ice Make Refrigeration Limited share price today?
    Ice Make Refrigeration Limited (ICEMAKE) is currently trading at ₹738.6 on NSE, down 0.09% as of the last market session. Prices update daily after market close on MarketNetra.
    Is Ice Make Refrigeration Limited available in F&O (Futures & Options)?
    Yes, Ice Make Refrigeration Limited (ICEMAKE) is part of the NSE F&O segment with a lot size of 1 shares. Options are available with monthly expiry contracts. You can track the full option chain and OI analysis on MarketNetra.
    What is Ice Make Refrigeration Limited 52-week high and low?
    Ice Make Refrigeration Limited's 52-week high is ₹920 and the 52-week low is ₹660. The current price of ₹738.6 is 19.7% below the 52W high.
    What is Ice Make Refrigeration Limited P/E ratio?
    Ice Make Refrigeration Limited's current P/E ratio is 97.4. This indicates the market is paying ₹97.4 for every ₹1 of earnings. Compare this to the sector average to assess relative valuation.
    How to trade Ice Make Refrigeration Limited options?
    Ice Make Refrigeration Limited options are traded on NSE with monthly expiry contracts (lot size: 1 shares). To trade ICEMAKE options: select your expiry on the option chain page, identify key OI strikes, check the PCR and buildup type on OI analysis, and review FII/DII flows for institutional sentiment before taking a position.