Share Price and Basic Stock Data
Last Updated: December 23, 2025, 9:20 pm
| PEG Ratio | 5.31 |
|---|
Analyst Insight & Comprehensive Analysis
AI Stock Ranker – Real-Time Fundamental Strength Score
Business Overview and Revenue Trends
ICE Make Refrigeration Ltd operates within the food processing industry, focusing on bakery, dairy, fruits, and other sectors. As of the latest reports, the company’s stock price stood at ₹798, with a market capitalization of ₹1,260 Cr. The company has shown a strong upward trend in revenue, with sales increasing from ₹206 Cr in FY 2022 to ₹312 Cr in FY 2023, and further to ₹378 Cr in FY 2024. The trailing twelve months (TTM) revenue reached ₹550 Cr, indicating a robust growth trajectory. The quarterly sales figures reflect this trend, with the most recent quarter (Jun 2025) recording sales of ₹111.50 Cr, up from ₹85.23 Cr in Jun 2024. This consistent increase in revenue showcases the company’s ability to capture market share and indicates a growing demand for its products, driven by a diverse portfolio and effective market strategies.
Profitability and Efficiency Metrics
Profitability metrics for ICE Make Refrigeration Ltd highlight a mixed performance. The operating profit margin (OPM) stood at 3.95%, which is lower than the sector average, indicating potential challenges in cost management. However, net profit rose significantly from ₹21 Cr in FY 2023 to ₹23 Cr in FY 2025, reflecting a net profit margin of 4.77%. The return on equity (ROE) was reported at 20.3%, showcasing effective utilization of equity capital. The interest coverage ratio (ICR) was robust at 10.55x, indicating strong capacity to meet interest obligations. While the company’s cash conversion cycle (CCC) stood at 69 days, it shows room for improvement compared to industry standards. Overall, while profitability ratios show strengths, the OPM requires attention to enhance overall financial health.
Balance Sheet Strength and Financial Ratios
ICE Make Refrigeration Ltd’s balance sheet reflects a cautious approach to leverage, with total borrowings amounting to ₹169 Cr against reserves of ₹105 Cr. The debt-to-equity ratio stood at 0.65, suggesting a balanced capital structure, yet it indicates reliance on debt financing. The company reported a current ratio of 1.17, showing adequate short-term liquidity. Book value per share has increased steadily, reaching ₹78.60 in FY 2025. The price-to-book value ratio (P/BV) stood at 11.45x, which is high compared to typical sector ranges, suggesting that the stock may be overvalued relative to its book value. The return on capital employed (ROCE) was reported at 20.6%, indicating effective capital utilization. While the financial ratios indicate reasonable operational efficiency, the dependence on debt and high P/BV may pose risks if market conditions shift.
Shareholding Pattern and Investor Confidence
ICE Make Refrigeration Ltd’s shareholding pattern reveals a strong promoter holding of 74.36%, which indicates significant control by the management and aligns with investor confidence in the company’s governance. The foreign institutional investors (FIIs) have a minimal stake of 0.01%, while domestic institutional investors (DIIs) hold 1.31%. The public shareholding stands at 24.32%, with the total number of shareholders reported at 25,194. The stability in promoter holding suggests confidence in the company’s long-term strategy. However, the low presence of institutional investors might indicate a lack of broader market interest. The gradual increase in DII holdings from 0.00% in Mar 2023 to 1.31% in Sep 2025 reflects a slowly growing institutional interest in the stock, which could enhance liquidity and market perception.
Outlook, Risks, and Final Insight
The outlook for ICE Make Refrigeration Ltd hinges on its ability to sustain growth in revenue while improving profitability margins. The company faces several risks, including its high P/BV ratio, which may deter new investors, and the fluctuating operating profit margins that could impact long-term profitability. Additionally, the reliance on debt financing poses risks in an environment of rising interest rates. Conversely, strengths such as strong promoter backing, a solid ICR, and a growing market demand for processed foods provide a favorable backdrop. To enhance resilience, the company must focus on cost management to improve OPM and explore strategies to diversify its investor base to mitigate risks associated with low institutional participation. Long-term, if the company can address these challenges, it may position itself favorably within the competitive landscape of the food processing industry.
Source: Getaka Fundamental Analysis | Generated using proprietary financial data.
Competitors
| Stock Name ⇩ | Market Cap ⇩ | Current Price ⇩ | High / Low ⇩ | Stock P/E ⇩ | Book Value ⇩ | Dividend Yield ⇩ | ROCE ⇩ | ROE ⇩ | Face Value ⇩ |
|---|---|---|---|---|---|---|---|---|---|
| Mishtann Foods Ltd | 545 Cr. | 5.06 | 7.94/4.28 | 1.63 | 10.9 | 0.00 % | 42.2 % | 44.1 % | 1.00 |
| Mrs Bectors Food Specialities Ltd | 7,294 Cr. | 238 | 355/236 | 53.5 | 39.6 | 0.51 % | 18.1 % | 15.6 % | 2.00 |
| Nakoda Group of Industries Ltd | 55.1 Cr. | 31.4 | 48.0/22.2 | 18.8 | 0.00 % | 8.11 % | 15.4 % | 10.0 | |
| HMA Agro Industries Ltd | 1,452 Cr. | 29.0 | 41.7/27.5 | 11.7 | 17.3 | 1.03 % | 11.8 % | 11.5 % | 1.00 |
| Himalaya Food International Ltd | 82.2 Cr. | 9.69 | 19.3/8.95 | 14.3 | 21.8 | 0.00 % | 2.29 % | 2.79 % | 10.0 |
| Industry Average | 21,554.14 Cr | 678.70 | 132.52 | 91.71 | 0.25% | 16.37% | 17.51% | 5.78 |
Quarterly Result
| Metric | Jun 2022 | Sep 2022 | Dec 2022 | Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 64.85 | 67.12 | 66.68 | 113.56 | 79.14 | 76.89 | 82.43 | 139.92 | 85.23 | 103.39 | 110.56 | 180.35 | 111.50 |
| Expenses | 59.54 | 59.78 | 59.37 | 101.41 | 70.96 | 69.31 | 78.13 | 119.23 | 79.19 | 94.94 | 103.89 | 158.96 | 107.10 |
| Operating Profit | 5.31 | 7.34 | 7.31 | 12.15 | 8.18 | 7.58 | 4.30 | 20.69 | 6.04 | 8.45 | 6.67 | 21.39 | 4.40 |
| OPM % | 8.19% | 10.94% | 10.96% | 10.70% | 10.34% | 9.86% | 5.22% | 14.79% | 7.09% | 8.17% | 6.03% | 11.86% | 3.95% |
| Other Income | 0.06 | 0.19 | 0.14 | 0.73 | 0.17 | 0.13 | 0.10 | 0.23 | 0.10 | 0.12 | 0.22 | 0.46 | 0.13 |
| Interest | 0.31 | 0.18 | 0.57 | 0.19 | 0.23 | 0.70 | 0.66 | 0.52 | 0.45 | 0.90 | 1.15 | 1.63 | 2.29 |
| Depreciation | 0.91 | 0.94 | 1.00 | 1.06 | 0.97 | 1.01 | 1.03 | 1.07 | 0.95 | 1.04 | 2.15 | 4.16 | 4.08 |
| Profit before tax | 4.15 | 6.41 | 5.88 | 11.63 | 7.15 | 6.00 | 2.71 | 19.33 | 4.74 | 6.63 | 3.59 | 16.06 | -1.84 |
| Tax % | 25.30% | 27.61% | 24.66% | 25.80% | 25.17% | 25.17% | 25.46% | 26.23% | 23.00% | 27.75% | 22.01% | 27.40% | -20.11% |
| Net Profit | 3.10 | 4.64 | 4.43 | 8.63 | 5.36 | 4.49 | 2.02 | 14.26 | 3.64 | 4.79 | 2.81 | 11.67 | -1.47 |
| EPS in Rs | 1.96 | 2.94 | 2.81 | 5.47 | 3.40 | 2.86 | 1.28 | 9.06 | 2.35 | 3.05 | 1.82 | 7.42 | -0.90 |
Last Updated: August 20, 2025, 9:30 am
Below is a detailed analysis of the quarterly data for ICE Make Refrigeration Ltd based on the most recent figures (Jun 2025) and their trends compared to the previous period:
- For Sales, as of Jun 2025, the value is 111.50 Cr.. The value appears to be declining and may need further review. It has decreased from 180.35 Cr. (Mar 2025) to 111.50 Cr., marking a decrease of 68.85 Cr..
- For Expenses, as of Jun 2025, the value is 107.10 Cr.. The value appears to be improving (decreasing) as expected. It has decreased from 158.96 Cr. (Mar 2025) to 107.10 Cr., marking a decrease of 51.86 Cr..
- For Operating Profit, as of Jun 2025, the value is 4.40 Cr.. The value appears to be declining and may need further review. It has decreased from 21.39 Cr. (Mar 2025) to 4.40 Cr., marking a decrease of 16.99 Cr..
- For OPM %, as of Jun 2025, the value is 3.95%. The value appears to be declining and may need further review. It has decreased from 11.86% (Mar 2025) to 3.95%, marking a decrease of 7.91%.
- For Other Income, as of Jun 2025, the value is 0.13 Cr.. The value appears to be declining and may need further review. It has decreased from 0.46 Cr. (Mar 2025) to 0.13 Cr., marking a decrease of 0.33 Cr..
- For Interest, as of Jun 2025, the value is 2.29 Cr.. The value appears to be increasing, which may not be favorable. It has increased from 1.63 Cr. (Mar 2025) to 2.29 Cr., marking an increase of 0.66 Cr..
- For Depreciation, as of Jun 2025, the value is 4.08 Cr.. The value appears to be improving (decreasing) as expected. It has decreased from 4.16 Cr. (Mar 2025) to 4.08 Cr., marking a decrease of 0.08 Cr..
- For Profit before tax, as of Jun 2025, the value is -1.84 Cr.. The value appears to be declining and may need further review. It has decreased from 16.06 Cr. (Mar 2025) to -1.84 Cr., marking a decrease of 17.90 Cr..
- For Tax %, as of Jun 2025, the value is -20.11%. The value appears to be improving (decreasing) as expected. It has decreased from 27.40% (Mar 2025) to -20.11%, marking a decrease of 47.51%.
- For Net Profit, as of Jun 2025, the value is -1.47 Cr.. The value appears to be declining and may need further review. It has decreased from 11.67 Cr. (Mar 2025) to -1.47 Cr., marking a decrease of 13.14 Cr..
- For EPS in Rs, as of Jun 2025, the value is -0.90. The value appears to be declining and may need further review. It has decreased from 7.42 (Mar 2025) to -0.90, marking a decrease of 8.32.
Overall, while many items appear to show a positive trend, any significant downward movement warrant further investigation.
Profit & Loss - Annual Report
Last Updated: December 15, 2025, 5:14 am
| Metric | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 88 | 103 | 132 | 138 | 135 | 206 | 312 | 378 | 480 | 550 |
| Expenses | 78 | 90 | 118 | 124 | 124 | 192 | 280 | 338 | 437 | 508 |
| Operating Profit | 10 | 13 | 14 | 13 | 10 | 14 | 32 | 41 | 43 | 42 |
| OPM % | 11% | 12% | 10% | 10% | 8% | 7% | 10% | 11% | 9% | 8% |
| Other Income | 0 | 0 | 0 | 0 | 1 | 1 | 1 | 1 | 1 | 1 |
| Interest | 1 | 2 | 1 | 2 | 2 | 2 | 1 | 2 | 4 | 8 |
| Depreciation | 2 | 2 | 2 | 5 | 4 | 4 | 4 | 4 | 8 | 15 |
| Profit before tax | 7 | 10 | 11 | 7 | 5 | 10 | 28 | 35 | 31 | 21 |
| Tax % | 32% | 32% | 29% | 27% | 32% | 25% | 26% | 26% | 26% | |
| Net Profit | 5 | 7 | 7 | 5 | 4 | 7 | 21 | 26 | 23 | 15 |
| EPS in Rs | 6.95 | 4.23 | 4.77 | 3.22 | 2.30 | 4.66 | 13.18 | 16.64 | 14.65 | 9.63 |
| Dividend Payout % | 0% | 24% | 25% | 37% | 52% | 26% | 14% | 12% | 15% |
YoY Net Profit Growth
| Year | 2017-2018 | 2018-2019 | 2019-2020 | 2020-2021 | 2021-2022 | 2022-2023 | 2023-2024 | 2024-2025 |
|---|---|---|---|---|---|---|---|---|
| YoY Net Profit Growth (%) | 40.00% | 0.00% | -28.57% | -20.00% | 75.00% | 200.00% | 23.81% | -11.54% |
| Change in YoY Net Profit Growth (%) | 0.00% | -40.00% | -28.57% | 8.57% | 95.00% | 125.00% | -176.19% | -35.35% |
ICE Make Refrigeration Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 8 years from 2017-2018 to 2024-2025.
Growth
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 28% |
| 3 Years: | 33% |
| TTM: | 32% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 36% |
| 3 Years: | 47% |
| TTM: | -27% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | 66% |
| 3 Years: | 48% |
| 1 Year: | 5% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 21% |
| 3 Years: | 25% |
| Last Year: | 20% |
Last Updated: September 5, 2025, 6:35 am
Balance Sheet
Last Updated: December 10, 2025, 2:49 am
| Month | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 7 | 16 | 16 | 16 | 16 | 16 | 16 | 16 | 16 | 16 |
| Reserves | 8 | 29 | 34 | 38 | 41 | 46 | 65 | 88 | 108 | 105 |
| Borrowings | 15 | 10 | 3 | 17 | 10 | 11 | 5 | 27 | 86 | 169 |
| Other Liabilities | 25 | 27 | 29 | 34 | 42 | 52 | 73 | 80 | 158 | 137 |
| Total Liabilities | 55 | 81 | 83 | 105 | 108 | 125 | 159 | 211 | 368 | 426 |
| Fixed Assets | 11 | 13 | 23 | 31 | 30 | 32 | 32 | 50 | 133 | 141 |
| CWIP | 0 | 1 | 0 | 0 | 1 | 0 | 0 | 12 | 6 | 12 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 5 | 0 | 0 | 0 |
| Other Assets | 44 | 68 | 60 | 74 | 77 | 93 | 122 | 149 | 229 | 274 |
| Total Assets | 55 | 81 | 83 | 105 | 108 | 125 | 159 | 211 | 368 | 426 |
Below is a detailed analysis of the balance sheet data for ICE Make Refrigeration Ltd based on the most recent figures (Sep 2025) and their trends compared to the previous period:
- For Equity Capital, as of Sep 2025, the value is 16.00 Cr.. The value remains steady. There is no change compared to the previous period (Mar 2025) which recorded 16.00 Cr..
- For Reserves, as of Sep 2025, the value is 105.00 Cr.. The value appears to be declining and may need further review. It has decreased from 108.00 Cr. (Mar 2025) to 105.00 Cr., marking a decrease of 3.00 Cr..
- For Borrowings, as of Sep 2025, the value is 169.00 Cr.. The value appears to be increasing, which may not be favorable. However, Borrowings exceed Reserves, which may signal higher financial risk. It has increased from 86.00 Cr. (Mar 2025) to 169.00 Cr., marking an increase of 83.00 Cr..
- For Other Liabilities, as of Sep 2025, the value is 137.00 Cr.. The value appears to be improving (decreasing). It has decreased from 158.00 Cr. (Mar 2025) to 137.00 Cr., marking a decrease of 21.00 Cr..
- For Total Liabilities, as of Sep 2025, the value is 426.00 Cr.. The value appears to be increasing, which may not be favorable. It has increased from 368.00 Cr. (Mar 2025) to 426.00 Cr., marking an increase of 58.00 Cr..
- For Fixed Assets, as of Sep 2025, the value is 141.00 Cr.. The value appears strong and on an upward trend. It has increased from 133.00 Cr. (Mar 2025) to 141.00 Cr., marking an increase of 8.00 Cr..
- For CWIP, as of Sep 2025, the value is 12.00 Cr.. The value appears strong and on an upward trend. It has increased from 6.00 Cr. (Mar 2025) to 12.00 Cr., marking an increase of 6.00 Cr..
- For Investments, as of Sep 2025, the value is 0.00 Cr.. The value remains steady. There is no change compared to the previous period (Mar 2025) which recorded 0.00 Cr..
- For Other Assets, as of Sep 2025, the value is 274.00 Cr.. The value appears strong and on an upward trend. It has increased from 229.00 Cr. (Mar 2025) to 274.00 Cr., marking an increase of 45.00 Cr..
- For Total Assets, as of Sep 2025, the value is 426.00 Cr.. The value appears strong and on an upward trend. It has increased from 368.00 Cr. (Mar 2025) to 426.00 Cr., marking an increase of 58.00 Cr..
However, the Borrowings (169.00 Cr.) are higher than the Reserves (105.00 Cr.), which may signal higher financial risk.
Overall, while many items appear to show a positive trend, any significant downward movement or items where Borrowings exceed Reserves warrant further investigation.
Cash Flow
| Month | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|---|
Free Cash Flow
| Month | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|---|
| Free Cash Flow | -5.00 | 3.00 | 11.00 | -4.00 | 0.00 | 3.00 | 27.00 | 14.00 | -43.00 |
Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)
Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.
Financial Efficiency Indicators
| Month | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 66 | 78 | 60 | 69 | 68 | 60 | 63 | 63 | 72 |
| Inventory Days | 114 | 135 | 121 | 156 | 161 | 123 | 86 | 84 | 118 |
| Days Payable | 109 | 96 | 85 | 92 | 103 | 83 | 84 | 76 | 121 |
| Cash Conversion Cycle | 71 | 116 | 96 | 132 | 125 | 100 | 64 | 71 | 69 |
| Working Capital Days | 9 | 52 | 64 | 59 | 69 | 53 | 43 | 48 | 21 |
| ROCE % | 27% | 22% | 15% | 11% | 17% | 37% | 34% | 21% |
This stock is not held by any mutual fund.
Key Financial Ratios
| Month | Mar 25 | Mar 24 | Mar 23 | Mar 22 | Mar 21 |
|---|---|---|---|---|---|
| FaceValue | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 |
| Basic EPS (Rs.) | 14.65 | 16.64 | 13.19 | 4.66 | 2.31 |
| Diluted EPS (Rs.) | 14.65 | 16.64 | 13.19 | 4.65 | 2.30 |
| Cash EPS (Rs.) | 19.78 | 19.15 | 15.66 | 6.98 | 5.09 |
| Book Value[Excl.RevalReserv]/Share (Rs.) | 78.60 | 66.03 | 51.41 | 39.28 | 35.93 |
| Book Value[Incl.RevalReserv]/Share (Rs.) | 78.60 | 66.03 | 51.41 | 39.28 | 35.93 |
| Revenue From Operations / Share (Rs.) | 303.88 | 239.79 | 197.85 | 131.26 | 85.92 |
| PBDIT / Share (Rs.) | 27.53 | 26.23 | 21.06 | 9.67 | 7.37 |
| PBIT / Share (Rs.) | 22.27 | 23.65 | 18.59 | 7.35 | 4.59 |
| PBT / Share (Rs.) | 19.66 | 22.31 | 17.79 | 6.25 | 3.37 |
| Net Profit / Share (Rs.) | 14.51 | 16.56 | 13.18 | 4.66 | 2.31 |
| NP After MI And SOA / Share (Rs.) | 14.65 | 16.64 | 13.18 | 4.66 | 2.31 |
| PBDIT Margin (%) | 9.05 | 10.93 | 10.64 | 7.36 | 8.57 |
| PBIT Margin (%) | 7.32 | 9.86 | 9.39 | 5.60 | 5.33 |
| PBT Margin (%) | 6.46 | 9.30 | 8.99 | 4.76 | 3.92 |
| Net Profit Margin (%) | 4.77 | 6.90 | 6.66 | 3.55 | 2.68 |
| NP After MI And SOA Margin (%) | 4.81 | 6.93 | 6.66 | 3.55 | 2.68 |
| Return on Networth / Equity (%) | 18.63 | 25.19 | 25.64 | 11.86 | 6.41 |
| Return on Capital Employeed (%) | 19.74 | 28.68 | 34.02 | 17.16 | 11.66 |
| Return On Assets (%) | 6.28 | 12.41 | 13.08 | 5.85 | 3.35 |
| Long Term Debt / Equity (X) | 0.38 | 0.22 | 0.03 | 0.05 | 0.05 |
| Total Debt / Equity (X) | 0.65 | 0.24 | 0.03 | 0.14 | 0.13 |
| Asset Turnover Ratio (%) | 1.66 | 2.04 | 2.20 | 1.73 | 1.24 |
| Current Ratio (X) | 1.17 | 1.72 | 1.70 | 1.56 | 1.58 |
| Quick Ratio (X) | 0.59 | 0.98 | 0.99 | 0.69 | 0.71 |
| Inventory Turnover Ratio (X) | 5.71 | 4.71 | 4.25 | 3.43 | 2.59 |
| Dividend Payout Ratio (NP) (%) | 13.65 | 10.81 | 9.10 | 25.73 | 15.53 |
| Dividend Payout Ratio (CP) (%) | 10.04 | 9.36 | 7.66 | 17.19 | 7.03 |
| Earning Retention Ratio (%) | 86.35 | 89.19 | 90.90 | 74.27 | 84.47 |
| Cash Earning Retention Ratio (%) | 89.96 | 90.64 | 92.34 | 82.81 | 92.97 |
| Interest Coverage Ratio (X) | 10.55 | 19.57 | 26.57 | 8.79 | 6.07 |
| Interest Coverage Ratio (Post Tax) (X) | 6.56 | 13.36 | 17.63 | 5.24 | 2.90 |
| Enterprise Value (Cr.) | 1497.64 | 763.24 | 406.77 | 158.84 | 110.83 |
| EV / Net Operating Revenue (X) | 3.12 | 2.02 | 1.30 | 0.77 | 0.82 |
| EV / EBITDA (X) | 34.47 | 18.44 | 12.24 | 10.46 | 9.59 |
| MarketCap / Net Operating Revenue (X) | 2.96 | 1.97 | 1.33 | 0.73 | 0.77 |
| Retention Ratios (%) | 86.34 | 89.18 | 90.89 | 74.26 | 84.46 |
| Price / BV (X) | 11.45 | 7.17 | 5.10 | 2.47 | 1.86 |
| Price / Net Operating Revenue (X) | 2.96 | 1.97 | 1.33 | 0.73 | 0.77 |
| EarningsYield | 0.01 | 0.03 | 0.05 | 0.04 | 0.03 |
After reviewing the key financial ratios for ICE Make Refrigeration Ltd, here is a detailed analysis based on the latest available data and recent trends:
- For FaceValue, as of Mar 25, the value is 10.00. This value is within the healthy range. There is no change compared to the previous period (Mar 24) which recorded 10.00.
- For Basic EPS (Rs.), as of Mar 25, the value is 14.65. This value is within the healthy range. It has decreased from 16.64 (Mar 24) to 14.65, marking a decrease of 1.99.
- For Diluted EPS (Rs.), as of Mar 25, the value is 14.65. This value is within the healthy range. It has decreased from 16.64 (Mar 24) to 14.65, marking a decrease of 1.99.
- For Cash EPS (Rs.), as of Mar 25, the value is 19.78. This value is within the healthy range. It has increased from 19.15 (Mar 24) to 19.78, marking an increase of 0.63.
- For Book Value[Excl.RevalReserv]/Share (Rs.), as of Mar 25, the value is 78.60. It has increased from 66.03 (Mar 24) to 78.60, marking an increase of 12.57.
- For Book Value[Incl.RevalReserv]/Share (Rs.), as of Mar 25, the value is 78.60. It has increased from 66.03 (Mar 24) to 78.60, marking an increase of 12.57.
- For Revenue From Operations / Share (Rs.), as of Mar 25, the value is 303.88. It has increased from 239.79 (Mar 24) to 303.88, marking an increase of 64.09.
- For PBDIT / Share (Rs.), as of Mar 25, the value is 27.53. This value is within the healthy range. It has increased from 26.23 (Mar 24) to 27.53, marking an increase of 1.30.
- For PBIT / Share (Rs.), as of Mar 25, the value is 22.27. This value is within the healthy range. It has decreased from 23.65 (Mar 24) to 22.27, marking a decrease of 1.38.
- For PBT / Share (Rs.), as of Mar 25, the value is 19.66. This value is within the healthy range. It has decreased from 22.31 (Mar 24) to 19.66, marking a decrease of 2.65.
- For Net Profit / Share (Rs.), as of Mar 25, the value is 14.51. This value is within the healthy range. It has decreased from 16.56 (Mar 24) to 14.51, marking a decrease of 2.05.
- For NP After MI And SOA / Share (Rs.), as of Mar 25, the value is 14.65. This value is within the healthy range. It has decreased from 16.64 (Mar 24) to 14.65, marking a decrease of 1.99.
- For PBDIT Margin (%), as of Mar 25, the value is 9.05. This value is below the healthy minimum of 10. It has decreased from 10.93 (Mar 24) to 9.05, marking a decrease of 1.88.
- For PBIT Margin (%), as of Mar 25, the value is 7.32. This value is below the healthy minimum of 10. It has decreased from 9.86 (Mar 24) to 7.32, marking a decrease of 2.54.
- For PBT Margin (%), as of Mar 25, the value is 6.46. This value is below the healthy minimum of 10. It has decreased from 9.30 (Mar 24) to 6.46, marking a decrease of 2.84.
- For Net Profit Margin (%), as of Mar 25, the value is 4.77. This value is below the healthy minimum of 5. It has decreased from 6.90 (Mar 24) to 4.77, marking a decrease of 2.13.
- For NP After MI And SOA Margin (%), as of Mar 25, the value is 4.81. This value is below the healthy minimum of 8. It has decreased from 6.93 (Mar 24) to 4.81, marking a decrease of 2.12.
- For Return on Networth / Equity (%), as of Mar 25, the value is 18.63. This value is within the healthy range. It has decreased from 25.19 (Mar 24) to 18.63, marking a decrease of 6.56.
- For Return on Capital Employeed (%), as of Mar 25, the value is 19.74. This value is within the healthy range. It has decreased from 28.68 (Mar 24) to 19.74, marking a decrease of 8.94.
- For Return On Assets (%), as of Mar 25, the value is 6.28. This value is within the healthy range. It has decreased from 12.41 (Mar 24) to 6.28, marking a decrease of 6.13.
- For Long Term Debt / Equity (X), as of Mar 25, the value is 0.38. This value is within the healthy range. It has increased from 0.22 (Mar 24) to 0.38, marking an increase of 0.16.
- For Total Debt / Equity (X), as of Mar 25, the value is 0.65. This value is within the healthy range. It has increased from 0.24 (Mar 24) to 0.65, marking an increase of 0.41.
- For Asset Turnover Ratio (%), as of Mar 25, the value is 1.66. It has decreased from 2.04 (Mar 24) to 1.66, marking a decrease of 0.38.
- For Current Ratio (X), as of Mar 25, the value is 1.17. This value is below the healthy minimum of 1.5. It has decreased from 1.72 (Mar 24) to 1.17, marking a decrease of 0.55.
- For Quick Ratio (X), as of Mar 25, the value is 0.59. This value is below the healthy minimum of 1. It has decreased from 0.98 (Mar 24) to 0.59, marking a decrease of 0.39.
- For Inventory Turnover Ratio (X), as of Mar 25, the value is 5.71. This value is within the healthy range. It has increased from 4.71 (Mar 24) to 5.71, marking an increase of 1.00.
- For Dividend Payout Ratio (NP) (%), as of Mar 25, the value is 13.65. This value is below the healthy minimum of 20. It has increased from 10.81 (Mar 24) to 13.65, marking an increase of 2.84.
- For Dividend Payout Ratio (CP) (%), as of Mar 25, the value is 10.04. This value is below the healthy minimum of 20. It has increased from 9.36 (Mar 24) to 10.04, marking an increase of 0.68.
- For Earning Retention Ratio (%), as of Mar 25, the value is 86.35. This value exceeds the healthy maximum of 70. It has decreased from 89.19 (Mar 24) to 86.35, marking a decrease of 2.84.
- For Cash Earning Retention Ratio (%), as of Mar 25, the value is 89.96. This value exceeds the healthy maximum of 70. It has decreased from 90.64 (Mar 24) to 89.96, marking a decrease of 0.68.
- For Interest Coverage Ratio (X), as of Mar 25, the value is 10.55. This value is within the healthy range. It has decreased from 19.57 (Mar 24) to 10.55, marking a decrease of 9.02.
- For Interest Coverage Ratio (Post Tax) (X), as of Mar 25, the value is 6.56. This value is within the healthy range. It has decreased from 13.36 (Mar 24) to 6.56, marking a decrease of 6.80.
- For Enterprise Value (Cr.), as of Mar 25, the value is 1,497.64. It has increased from 763.24 (Mar 24) to 1,497.64, marking an increase of 734.40.
- For EV / Net Operating Revenue (X), as of Mar 25, the value is 3.12. This value exceeds the healthy maximum of 3. It has increased from 2.02 (Mar 24) to 3.12, marking an increase of 1.10.
- For EV / EBITDA (X), as of Mar 25, the value is 34.47. This value exceeds the healthy maximum of 15. It has increased from 18.44 (Mar 24) to 34.47, marking an increase of 16.03.
- For MarketCap / Net Operating Revenue (X), as of Mar 25, the value is 2.96. This value is within the healthy range. It has increased from 1.97 (Mar 24) to 2.96, marking an increase of 0.99.
- For Retention Ratios (%), as of Mar 25, the value is 86.34. This value exceeds the healthy maximum of 70. It has decreased from 89.18 (Mar 24) to 86.34, marking a decrease of 2.84.
- For Price / BV (X), as of Mar 25, the value is 11.45. This value exceeds the healthy maximum of 3. It has increased from 7.17 (Mar 24) to 11.45, marking an increase of 4.28.
- For Price / Net Operating Revenue (X), as of Mar 25, the value is 2.96. This value is within the healthy range. It has increased from 1.97 (Mar 24) to 2.96, marking an increase of 0.99.
- For EarningsYield, as of Mar 25, the value is 0.01. This value is below the healthy minimum of 5. It has decreased from 0.03 (Mar 24) to 0.01, marking a decrease of 0.02.
Overall, while many metrics show healthy performance, any figures highlighted in red or significant downward trends warrant further investigation.
Strength and Weakness
| Strength | Weakness |
|---|---|
|
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Stock Analysis
- Considering all of the following key financial indicators, prospective investors are encouraged to conduct thorough research and seek professional guidance before considering any investment in ICE Make Refrigeration Ltd:
- Net Profit Margin: 4.77%
- Net Profit Margin: This metric indicates the percentage of profit a company makes from its total revenue. A higher net profit margin is generally desirable as it reflects better profitability.
- ROCE: 19.74% (Industry Average ROCE: 16.37%)
- ROCE (Return on Capital Employed): ROCE measures a company's profitability and the efficiency with which its capital is employed. A higher ROCE indicates efficient use of capital.
- ROE%: 18.63% (Industry Average ROE: 17.51%)
- ROE (Return on Equity): ROE measures a company's profitability relative to shareholders' equity. A higher ROE indicates efficient use of shareholders' funds.
- Interest Coverage Ratio (Post Tax): 6.56
- Interest Coverage Ratio: The interest coverage ratio measures a company's ability to cover its interest payments on outstanding debt. A ratio greater than 2 is generally considered healthy as it indicates the company can meet its interest obligations comfortably.
- Quick Ratio: 0.59
- Quick Ratio: The quick ratio assesses a company's ability to cover its short-term liabilities with its most liquid assets. A ratio higher than 1 suggests the company can meet its short-term obligations without relying heavily on inventory.
- Stock P/E: 82.9 (Industry average Stock P/E: 132.52)
- Stock P/E (Price-to-Earnings) Ratio: The P/E ratio compares a company's current share price to its earnings per share. A lower P/E ratio relative to industry peers or historical values may indicate that the stock is undervalued.
- Total Debt / Equity: 0.65
- Total Debt / Equity: This ratio measures a company's financial leverage by comparing its total debt to its total equity. A lower ratio indicates lower financial risk and greater financial stability.
Stock Rating: - Net Profit Margin: 4.77%
About the Company - Qualitative Analysis
| INDUSTRY | ADDRESS | CONTACT |
|---|---|---|
| Engineering - General | B-1, Vasupujya Chamber, Ahmedabad Gujarat 380009 | Contact not found |
| Management | |
|---|---|
| Name | Position Held |
| Mr. Chandrakant P Patel | Chairman & Managing Director |
| Mr. Rajendra P Patel | Joint Managing Director |
| Mr. Vipul I Patel | Joint Managing Director |
| Mr. Harshadrai P Pandya | Independent Director |
| Mr. Krishnakant L Patel | Independent Director |
| Ms. Darsha R Kikani | Independent Director |
FAQ
What is the intrinsic value of ICE Make Refrigeration Ltd?
ICE Make Refrigeration Ltd's intrinsic value (as of 23 December 2025) is 1036.85 which is 29.93% higher the current market price of 798.00, indicating undervalued. Calculated using the PE ratio method, this valuation considers the company's 1,259 Cr. market cap, FY2025-2026 high/low of 1,089/575, reserves of ₹105 Cr, and liabilities of 426 Cr.
What is the Market Cap of ICE Make Refrigeration Ltd?
The Market Cap of ICE Make Refrigeration Ltd is 1,259 Cr..
What is the current Stock Price of ICE Make Refrigeration Ltd as on 23 December 2025?
The current stock price of ICE Make Refrigeration Ltd as on 23 December 2025 is 798.
What is the High / Low of ICE Make Refrigeration Ltd stocks in FY 2025-2026?
In FY 2025-2026, the High / Low of ICE Make Refrigeration Ltd stocks is 1,089/575.
What is the Stock P/E of ICE Make Refrigeration Ltd?
The Stock P/E of ICE Make Refrigeration Ltd is 82.9.
What is the Book Value of ICE Make Refrigeration Ltd?
The Book Value of ICE Make Refrigeration Ltd is 76.8.
What is the Dividend Yield of ICE Make Refrigeration Ltd?
The Dividend Yield of ICE Make Refrigeration Ltd is 0.28 %.
What is the ROCE of ICE Make Refrigeration Ltd?
The ROCE of ICE Make Refrigeration Ltd is 20.6 %.
What is the ROE of ICE Make Refrigeration Ltd?
The ROE of ICE Make Refrigeration Ltd is 20.3 %.
What is the Face Value of ICE Make Refrigeration Ltd?
The Face Value of ICE Make Refrigeration Ltd is 10.0.