IC
ICE Make Refrigeration Ltd (ICEMAKE)
₹623.65
Mkt cap
₹1,082 Cr
P/E ratio
99.50
P/B
7.23
Div yield
0.33%
ROE
8.24%
ROCE
10.80%
EPS (TTM)
₹6.27
Book value
₹86
52W range
602–920
Sector
Industrials
Price history
Previous close
Incorporated in 1993, ICE Make Refrigeration Ltd provides customized cooling solutions across a wide range of industries [1]
NSE ICEMAKE
Health check
Cautious
ValuationExpensive
ProfitabilityAverage
GrowthHigh
TechnicalsBearish
52-week range
−32.21% from high₹624
₹602+3.60% from low₹920
Current
₹623.65
Prev close
₹629.55
Day
−0.94%
Price performance
1D
−0.46%
1W
−7.46%
1M
−14.56%
3M
−19.89%
6M
−5.82%
1Y
−18.75%
YTD
−22.77%
Financials
Revenue, profit & margin
P/E ratio
99.5×
ICEMAKE is 180% above the sector median of 35.6×
ICEMAKE99.5×
Sector median35.6×
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Trend | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 77.25 | 75.72 | 81.56 | 135.07 | 83.17 | 101.38 | 108.64 | 178.61 | 111.86 | 148.70 | 153.21 | 253.59 | 176.08 | |
| Expenses | 69.01 | 68.25 | 77.28 | 114.83 | 77.09 | 93.14 | 102.04 | 157.85 | 107.67 | 140.07 | 143.98 | 232.96 | 172.92 | |
| Operating Profit | 8.24 | 7.47 | 4.28 | 20.24 | 6.08 | 8.24 | 6.60 | 20.76 | 4.19 | 8.63 | 9.23 | 20.63 | 3.16 | |
| OPM % | 10.67% | 9.87% | 5.25% | 14.98% | 7.31% | 8.13% | 6.08% | 11.62% | 3.75% | 5.80% | 6.02% | 8.14% | 1.79% | |
| Other Income | 0.24 | 0.21 | 0.20 | 0.32 | 0.22 | 0.27 | 0.34 | 0.61 | 0.26 | 0.15 | 0.27 | 0.38 | 0.18 | |
| Interest | 0.22 | 0.68 | 0.60 | 0.35 | 0.41 | 0.87 | 1.11 | 1.50 | 2.26 | 2.72 | 3.82 | 3.60 | 3.26 | |
| Depreciation | 0.82 | 0.85 | 0.90 | 0.94 | 0.83 | 0.92 | 2.03 | 4.04 | 3.98 | 4.09 | 4.18 | 4.39 | 1.99 | |
| Profit before tax | 7.44 | 6.15 | 2.98 | 19.27 | 5.06 | 6.72 | 3.80 | 15.83 | -1.79 | 1.97 | 1.50 | 13.02 | -1.91 | |
| Tax % | 25.13% | 25.37% | 25.50% | 26.15% | 23.91% | 27.23% | 22.37% | 27.29% | -22.35% | 26.40% | 26.00% | 25.35% | -26.18% | |
| Net Profit | 5.58 | 4.59 | 2.22 | 14.23 | 3.85 | 4.89 | 2.96 | 11.52 | -1.39 | 1.45 | 1.11 | 9.72 | -1.41 | |
| EPS in Rs | 3.54 | 2.91 | 1.41 | 9.02 | 2.44 | 3.10 | 1.88 | 7.30 | -0.88 | 0.92 | 0.70 | 6.16 | -0.89 | |
| Raw PDF |
Earnings
Results dates & reactionsNo upcoming results date on calendar.
Fresh quarters land in the Financials table above, tagged NSE until screener catches up.
Avg earnings-day move −7.37% · closed higher next day 0 of last 1
| Q1FY27 | |
|---|---|
| Broadcast | 13 Aug '26◦ |
| Earnings day | −7.37% |
| +1 day | −10.97% |
| +5 days | −11.06% |
| +15 days | −8.98% |
| +30 days | −20.05% |
| Filing | XBRL |
Corporate actions
Last 6 monthsNo recent corporate actions
Dividends, splits, and bonuses in the last six months show up here.
Shareholding
as of Sep 202664.52%Promoter
Promoters64.52%9.68
FIIs0.01%0.30
DIIs0.88%0.50
Public34.60%10.49
Ownership trend
Peers
8 companiesValuation vs quality
P/E × ROCE · bubble = market cap| Name | CMP | P/E | Mkt Cap | Div Yld | NP Qtr | Qtr Profit Var | Sales Qtr | Qtr Sales Var | ROCE |
|---|---|---|---|---|---|---|---|---|---|
| Indo-MIM | ₹1,055.90 | 80.88 | 52,212 | 0.00% | 240 | +31.64% | 1,219 | +9.39% | 24.98% |
| Aditya Infotech | ₹3,355.10 | 83.16 | 39,691 | 0.05% | 142 | +332.48% | 1,402 | +89.51% | 28.56% |
| Syrma SGS Tech. | ₹1,728.90 | 89.76 | 33,338 | 0.09% | 106 | +101.19% | 1,589 | +68.29% | 16.78% |
| Honeywell Auto | ₹35,445.00 | 56.02 | 31,333 | 0.31% | 151 | +20.95% | 1,204 | +1.80% | 16.95% |
| Jyoti CNC Auto. | ₹1,049.70 | 74.20 | 23,873 | 0.00% | 57 | −19.99% | 508 | +23.97% | 21.32% |
| Kaynes Tech | ₹3,515.00 | 68.04 | 23,629 | 0.00% | 56 | −24.37% | 946 | +40.47% | 12.69% |
| LMW | ₹17,759.00 | 103.85 | 18,972 | 0.20% | 56 | +369.17% | 861 | +24.00% | 5.58% |
| ICE Make Refrig. | ₹685.60 | 99.53 | 1,082 | 0.33% | −1 | −1.44% | 176 | +57.41% | 10.77% |
| Median: 130 Co. | ₹354.52 | 35.58 | 705 | 0.00% | 6 | +33.06% | 76 | +23.71% | 15.61% |
Filings
Annual reports6
Concall transcripts57
TranscriptAug 2026PPTAug 2026RECAug 2026TranscriptJun 2026RECJun 2026TranscriptMar 2026PPTMar 2026RECMar 2026TranscriptNov 2025RECNov 2025PPTSep 2025TranscriptAug 2025TranscriptMay 2025TranscriptFeb 2025PPTFeb 2025TranscriptNov 2024PPTNov 2024RECNov 2024PPTOct 2024PPTAug 2024TranscriptAug 2024PPTAug 2024TranscriptJun 2024RECJun 2024
Credit ratings6
Announcements5
General Updates 10 Sep - Statutory auditors certified compliance with SEBI ICDR Regulation 169(4) on 10 September 2026.General Updates 10 Sep - Board approved preferential allotment of 23,67,573 shares at ₹802.51 and ₹35.27 crore JV investment.Outcome of Board Meeting 10 Sep - Board approved 23,67,573 share preferential allotment at ₹802.51 and ₹35.27 crore investment in Ice Make Horeca.Allotment of Securities 10 Sep - Board approved allotment of 23,67,573 shares at Rs802.51 and Rs35.27 crore investment in Ice Make Horeca.Copy of Newspaper Publication 9 Sep - Submitted newspaper clippings for 17th AGM notice and e-voting; AGM on 30 September 2026.