ICE Make Refrig.
NSE: ICEMAKE · Industrial Products
Snapshot
Unlock ICE Make Refrig.'s vital signs
Growth · Profitability · Valuation · Strength · Conviction
Company Overview
Business
Ice Make Refrigeration Limited manufactures and supplies a diverse range of refrigeration equipment, including cold rooms, commercial, industrial, and transport refrigeration solutions. The company serves a broad spectrum of industries such as pharmaceuticals, dairy, hospitality, and horticulture through customized cooling systems.
Business Model
The company generates revenue through the design, manufacturing, and installation of refrigeration products tailored to specific industrial and commercial requirements. It operates across both domestic and international markets, providing end-to-end cooling solutions.
- Founded:1989
Growth Outlook
Growth is driven by the increasing demand for cold chain infrastructure in India, particularly within the pharmaceutical and food processing sectors. Expansion into new industrial verticals and export markets remains a key focus for the company.
Key Risks
- Raw Material Price Volatility. Fluctuations in the prices of steel, copper, and other components can significantly impact manufacturing margins.
- Competitive Intensity. The refrigeration industry is highly fragmented, leading to intense price competition from both organised and unorganised players.
- Economic Cyclicality. Demand for industrial refrigeration equipment is closely linked to capital expenditure cycles in the food, dairy, and pharmaceutical industries.
- Technological Obsolescence. Failure to innovate or adopt energy-efficient cooling technologies could result in a loss of market share to more advanced competitors.
Price
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Key Metrics
REVENUE
₹668 Cr
TTM · consolidated
NET PROFIT
₹12 Cr
TTM · consolidated
EPS
₹7.72
TTM · consolidated
RETURN ON EQUITY
9.6%
TTM · consolidated
RETURN ON CAPITAL EMPLOYED
15.4%
TTM · consolidated
P/E
104.2x
Q4 FY26 · consolidated
EV/EBITDA
30.8x
Q4 FY26 · consolidated
EBITDA MARGIN
6.9%
TTM · consolidated
NET PROFIT MARGIN
4.0%
Q4 FY26 · consolidated
DEBT TO EQUITY
1.1x
Q4 FY26 · consolidated
Peers · Industrial Products
| Company | Mkt Cap (Cr) | P/E | EV/EBITDA | Rev Gr YoY | EBITDA Mgn | ROE | ROCE | 1Y Return |
|---|---|---|---|---|---|---|---|---|
ICE Make Refrig.ICEMAKE | 1,121 | 104.23 | 30.82 | 39.3% | 6.9% | 9.6% | 15.4% | +0.3% |
Everest KantoEKC | 1,149 | 8.80 | 6.49 | -1.9% | 15.3% | 11.7% | 12.8% | -18.0% |
Vinyas InnovativVINYAS | 1,135 | — | — | — | 12.0% | — | — | +4.1% |
Salasar TechnoSALASAR | 1,127 | 60.80 | 12.13 | 4.8% | 8.1% | 2.2% | 11.4% | -20.7% |
Walchan. Inds.WALCHANNAG | 977 | -114.09 | 53.39 | 6.2% | 12.9% | -4.0% | 5.0% | +10.8% |
Gala Precis. EngGALAPREC | 967 | 42.91 | 27.09 | 32.2% | 18.3% | 13.4% | 16.8% | +33.7% |
As of Q4 FY26
Financials
ICE Make Refrig.
NSE: ICEMAKE · Industrial Products
Snapshot
Unlock ICE Make Refrig.'s vital signs
Growth · Profitability · Valuation · Strength · Conviction
Company Overview
Business
Ice Make Refrigeration Limited manufactures and supplies a diverse range of refrigeration equipment, including cold rooms, commercial, industrial, and transport refrigeration solutions. The company serves a broad spectrum of industries such as pharmaceuticals, dairy, hospitality, and horticulture through customized cooling systems.
Business Model
The company generates revenue through the design, manufacturing, and installation of refrigeration products tailored to specific industrial and commercial requirements. It operates across both domestic and international markets, providing end-to-end cooling solutions.
- Founded:1989
Growth Outlook
Growth is driven by the increasing demand for cold chain infrastructure in India, particularly within the pharmaceutical and food processing sectors. Expansion into new industrial verticals and export markets remains a key focus for the company.
Key Risks
- Raw Material Price Volatility. Fluctuations in the prices of steel, copper, and other components can significantly impact manufacturing margins.
- Competitive Intensity. The refrigeration industry is highly fragmented, leading to intense price competition from both organised and unorganised players.
- Economic Cyclicality. Demand for industrial refrigeration equipment is closely linked to capital expenditure cycles in the food, dairy, and pharmaceutical industries.
- Technological Obsolescence. Failure to innovate or adopt energy-efficient cooling technologies could result in a loss of market share to more advanced competitors.
Price
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Start your research today
Unlock AI insights, financials, peers and live data on ICE Make Refrig. and 5,000+ companies — free.
Key Metrics
REVENUE
₹668 Cr
TTM · consolidated
NET PROFIT
₹12 Cr
TTM · consolidated
EPS
₹7.72
TTM · consolidated
RETURN ON EQUITY
9.6%
TTM · consolidated
RETURN ON CAPITAL EMPLOYED
15.4%
TTM · consolidated
P/E
104.2x
Q4 FY26 · consolidated
EV/EBITDA
30.8x
Q4 FY26 · consolidated
EBITDA MARGIN
6.9%
TTM · consolidated
NET PROFIT MARGIN
4.0%
Q4 FY26 · consolidated
DEBT TO EQUITY
1.1x
Q4 FY26 · consolidated
Peers · Industrial Products
As of Q4 FY26