ICE Make Refrigeration Ltd.

₹691.45

0.4 (0.1%)

ICEMAKE Share Price

Industrial Manufacturing

As on November 13, 2026

SectorCapital Goods

IndustryIndustrial Manufacturing

Basic IndustryIndustrial Products

Market Cap₹ 1,254.8 Cr

P/E Ratio89.5

Dividend Yield0.03 %

Trendline Performance

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Technicals

Indicators	Value	Signal
5-DMA	693.11	Bearish
10-DMA	682.19	Bullish
20-DMA	661.88	Bullish
50-DMA	674.64	Bullish
100-DMA	731.05	Bearish
200-DMA	753.31	Bearish

Historical Performance

1 Year

1.7%

3 Years

16.3%

5 Years

963.8%

10 Years

N/A

Shareholding Pattern

Values Analysis

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Profit & Loss

Below figures are in Rs. Crores

Particulars	Mar-2026	Mar-2025	Mar-2024	Mar-2023	Mar-2022
Net Sales	6,682	4,795	3,784	3,122	2,061
Total Expenditure	6,229	4,370	3,376	2,801	1,916
Other Income	7	9	6	11	7
Operating Profit	460	434	414	332	152
Interest	126	41	21	13	17
Depreciation	171	83	41	39	36
Profit Before Tax	164	310	352	281	98
Consolidated Net Profit	122	231	263	208	73
Adjusted EPS	8	15	17	13	5

Compounded Sales Growth

10 Years:50

5 Years:37.8

3 Years:16.4

TTM:6.9

Compounded Profit Growth

10 Years:19.5

5 Years:27.5

3 Years:-10.1

TTM:-12

Stock Price CAGR

10 Years:N/A

5 Years:60.5

3 Years:5.2

TTM:1.2

Return on Equity

10 Years:4.3

5 Years:4.7

3 Years:16.6

last year:7.7

Quarterly Results

Below figures are in Rs. Crores

Particulars	Sep-2024	Dec-2024	Mar-2025	Jul-2025	Sep-2025
Sales	1,70,754	1,35,936	1,28,552	1,22,189	1,05,161
Expenses	63,042	56,557	52,457	45,459	34,856
Operating Profit	1,07,712	79,379	76,096	76,730	70,304
OPM %	63%	58%	59%	63%	67%
Other Income	33,912	31,759	27,333	24,879	18,947
Interest	77,780	58,584	59,248	62,137	53,713
Depreciation	2,345	1,681	1,385	1,277	1,221
Profit Before Tax	61,498	50,873	42,796	38,195	34,318
Tax %	25%	25%	26%	29%	35%
Net Profit	46,149	38,151	31,857	27,296	22,446
EPS in Rs	83	69	58	50	42

Balance Sheet

Below figures are in Rs. Crores

Particulars	Mar-2026	Mar-2025	Mar-2024	Mar-2023	Mar-2022
Share Capital	158	158	158	158	157
Total Reserves	1,172	1,082	884	653	458
Long-Term Borrowings	---	---	---	---	---
Total Non-Current Liabilities	849	527	244	38	42
Other Current Liabilities	994	530	251	213	184
Short Term Borrowings	423	251	---	---	52
Total Liabilities	5,019	3,662	2,098	1,577	1,237
Capital Work in Progress	253	57	120	1	---
Long Term Loans & Advances	19	40	69	10	10
Currents Investments	---	---	---	47	---
Short Term Loans and Advances	235	142	63	39	40
Total Current Assets	3,333	2,218	1,401	1,239	903
Total Assets	5,019	3,662	2,098	1,577	1,237
Adjusted Book Value	84	79	66	51	39

Positive

(80 to 100)

Neutral

(60 to 79)

Negative

(0 to 59)

The stock has a high PE of 89.5, indicating expensive valuation or elevated growth expectations.
Over the last three years, the stock delivered a moderate 3-year price CAGR of 6.1%, reflecting average market performance.
The stock carries a beta of 0.9, indicating volatility broadly in line with the market.
In the last financial year, the company reported an EBITDA of ₹460 million, reflecting positive operating performance.
In the previous financial year, the company generated revenue of ₹6682 million, suggesting a mid-sized operation.

Investment Calculator

Investment Amount:₹

Investment Amount: ₹ 1000000

Current Value: ₹ 1012297.8

No. of Shares: 1464 (Approx)

Performance:1.2%

12297.8

NIFTY Performance: -3%

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