Share Price and Basic Stock Data
Last Updated: January 9, 2026, 6:03 pm
| PEG Ratio | 4.97 |
|---|
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, and fruit processing. As of the latest reporting, the company’s stock price stood at ₹785, with a market capitalization of ₹1,239 Cr. The company has exhibited a robust sales trajectory, with reported sales of ₹312 Cr in FY 2023, an increase from ₹206 Cr in FY 2022. This upward trend continued into FY 2024, where sales reached ₹378 Cr, and the trailing twelve months (TTM) sales reached ₹550 Cr. The quarterly sales figures also reflect this growth, with the most recent quarter reporting sales of ₹76.89 Cr in September 2023, and projected sales for March 2025 are expected to touch ₹180.35 Cr, indicating strong momentum as the company expands its market reach. These figures suggest a solid demand for its products and a positive reception in the food processing sector, despite the competitive landscape.
Profitability and Efficiency Metrics
ICE Make Refrigeration reported a net profit of ₹15 Cr, translating to an impressive return on equity (ROE) of 20.3% and a return on capital employed (ROCE) of 20.6%. The operating profit margin (OPM) stood at 6.52%, reflecting challenges in maintaining profitability amid rising operational costs. The company’s quarterly performance has shown fluctuations in profitability, with operating profit margins dipping to 5.22% in December 2023 before rebounding to 14.79% in March 2024, which indicates volatility in operational efficiency. The interest coverage ratio (ICR) of 10.55x signifies that the company comfortably meets its interest obligations, enhancing its financial stability. However, the declining net profit margin from 6.66% in FY 2023 to 4.77% in FY 2025 poses a potential concern regarding cost management strategies and profit retention.
Balance Sheet Strength and Financial Ratios
The balance sheet of ICE Make Refrigeration reveals a mixed picture of financial strength. The company reported total borrowings of ₹169 Cr against reserves of ₹105 Cr, leading to a debt-to-equity ratio of 0.65, which is relatively high compared to sector norms. The company’s current ratio is reported at 1.17, indicating adequate short-term liquidity, while the quick ratio at 0.59 suggests potential liquidity challenges. The book value per share rose to ₹78.60 in FY 2025, compared to ₹39.28 in FY 2022, reflecting the accumulation of retained earnings. Additionally, the price-to-book value (P/BV) ratio stood at 11.45x, indicating that the stock may be overvalued compared to its book value, which could deter value-focused investors. Overall, while the company demonstrates solid asset growth, its elevated debt levels warrant close monitoring.
Shareholding Pattern and Investor Confidence
ICE Make Refrigeration’s shareholding pattern reflects a strong promoter confidence, with promoters holding 74.36% of the equity as of September 2025. This is a slight decline from 74.49% in the previous quarters, indicating stable control by the founding members. Foreign institutional investors (FIIs) have a minimal stake of 0.01%, while domestic institutional investors (DIIs) hold 1.31%, suggesting limited institutional interest in the stock. The public shareholding stood at 24.32%, with the number of shareholders increasing to 25,194, indicating growing retail participation. This gradual increase in shareholders is a positive sign of confidence among retail investors. However, the low FII presence may limit broader market validation and could signal caution among international investors regarding the company’s growth prospects and valuation.
Outlook, Risks, and Final Insight
Looking ahead, ICE Make Refrigeration faces both opportunities and challenges. The company’s strong revenue growth trajectory and healthy ROE indicate potential for continued expansion in the food processing sector. However, rising operational costs and fluctuating profit margins may pose risks to sustained profitability. Additionally, the high debt levels could impact financial flexibility, particularly in adverse market conditions. The company must focus on improving operational efficiencies and managing costs to enhance profit margins. In terms of outlook, if ICE Make can leverage its robust sales growth while effectively managing expenses, it could solidify its position in the market. Conversely, failure to address these risks might hinder its growth and investor confidence, potentially leading to volatility in stock performance.
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 | 514 Cr. | 4.77 | 7.79/4.28 | 1.54 | 10.9 | 0.00 % | 42.2 % | 44.1 % | 1.00 |
| Mrs Bectors Food Specialities Ltd | 7,090 Cr. | 231 | 355/224 | 52.0 | 39.6 | 0.52 % | 18.1 % | 15.6 % | 2.00 |
| Nakoda Group of Industries Ltd | 51.0 Cr. | 29.1 | 44.0/22.2 | 18.8 | 0.00 % | 8.11 % | 15.4 % | 10.0 | |
| HMA Agro Industries Ltd | 1,355 Cr. | 27.0 | 40.4/26.8 | 10.9 | 17.3 | 1.09 % | 11.8 % | 11.5 % | 1.00 |
| Himalaya Food International Ltd | 81.4 Cr. | 9.60 | 17.9/8.95 | 14.1 | 21.8 | 0.00 % | 2.29 % | 2.79 % | 10.0 |
| Industry Average | 21,778.81 Cr | 654.06 | 132.58 | 89.69 | 0.26% | 16.37% | 17.51% | 5.63 |
Quarterly Result
| Metric | Sep 2022 | Dec 2022 | Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 67.12 | 66.68 | 113.56 | 79.14 | 76.89 | 82.43 | 139.92 | 85.23 | 103.39 | 110.56 | 180.35 | 111.50 | 147.49 |
| Expenses | 59.78 | 59.37 | 101.41 | 70.96 | 69.31 | 78.13 | 119.23 | 79.19 | 94.94 | 103.89 | 158.96 | 107.10 | 137.88 |
| Operating Profit | 7.34 | 7.31 | 12.15 | 8.18 | 7.58 | 4.30 | 20.69 | 6.04 | 8.45 | 6.67 | 21.39 | 4.40 | 9.61 |
| OPM % | 10.94% | 10.96% | 10.70% | 10.34% | 9.86% | 5.22% | 14.79% | 7.09% | 8.17% | 6.03% | 11.86% | 3.95% | 6.52% |
| Other Income | 0.19 | 0.14 | 0.73 | 0.17 | 0.13 | 0.10 | 0.23 | 0.10 | 0.12 | 0.22 | 0.46 | 0.13 | 0.09 |
| Interest | 0.18 | 0.57 | 0.19 | 0.23 | 0.70 | 0.66 | 0.52 | 0.45 | 0.90 | 1.15 | 1.63 | 2.29 | 2.73 |
| Depreciation | 0.94 | 1.00 | 1.06 | 0.97 | 1.01 | 1.03 | 1.07 | 0.95 | 1.04 | 2.15 | 4.16 | 4.08 | 4.20 |
| Profit before tax | 6.41 | 5.88 | 11.63 | 7.15 | 6.00 | 2.71 | 19.33 | 4.74 | 6.63 | 3.59 | 16.06 | -1.84 | 2.77 |
| Tax % | 27.61% | 24.66% | 25.80% | 25.17% | 25.17% | 25.46% | 26.23% | 23.00% | 27.75% | 22.01% | 27.40% | -20.11% | 27.08% |
| Net Profit | 4.64 | 4.43 | 8.63 | 5.36 | 4.49 | 2.02 | 14.26 | 3.64 | 4.79 | 2.81 | 11.67 | -1.47 | 2.03 |
| EPS in Rs | 2.94 | 2.81 | 5.47 | 3.40 | 2.86 | 1.28 | 9.06 | 2.35 | 3.05 | 1.82 | 7.42 | -0.90 | 1.29 |
Last Updated: January 1, 2026, 9:46 am
Below is a detailed analysis of the quarterly data for ICE Make Refrigeration Ltd based on the most recent figures (Sep 2025) and their trends compared to the previous period:
- For Sales, as of Sep 2025, the value is 147.49 Cr.. The value appears strong and on an upward trend. It has increased from 111.50 Cr. (Jun 2025) to 147.49 Cr., marking an increase of 35.99 Cr..
- For Expenses, as of Sep 2025, the value is 137.88 Cr.. The value appears to be increasing, which may not be favorable. It has increased from 107.10 Cr. (Jun 2025) to 137.88 Cr., marking an increase of 30.78 Cr..
- For Operating Profit, as of Sep 2025, the value is 9.61 Cr.. The value appears strong and on an upward trend. It has increased from 4.40 Cr. (Jun 2025) to 9.61 Cr., marking an increase of 5.21 Cr..
- For OPM %, as of Sep 2025, the value is 6.52%. The value appears strong and on an upward trend. It has increased from 3.95% (Jun 2025) to 6.52%, marking an increase of 2.57%.
- For Other Income, as of Sep 2025, the value is 0.09 Cr.. The value appears to be declining and may need further review. It has decreased from 0.13 Cr. (Jun 2025) to 0.09 Cr., marking a decrease of 0.04 Cr..
- For Interest, as of Sep 2025, the value is 2.73 Cr.. The value appears to be increasing, which may not be favorable. It has increased from 2.29 Cr. (Jun 2025) to 2.73 Cr., marking an increase of 0.44 Cr..
- For Depreciation, as of Sep 2025, the value is 4.20 Cr.. The value appears to be increasing, which may not be favorable. It has increased from 4.08 Cr. (Jun 2025) to 4.20 Cr., marking an increase of 0.12 Cr..
- For Profit before tax, as of Sep 2025, the value is 2.77 Cr.. The value appears strong and on an upward trend. It has increased from -1.84 Cr. (Jun 2025) to 2.77 Cr., marking an increase of 4.61 Cr..
- For Tax %, as of Sep 2025, the value is 27.08%. The value appears to be increasing, which may not be favorable. It has increased from -20.11% (Jun 2025) to 27.08%, marking an increase of 47.19%.
- For Net Profit, as of Sep 2025, the value is 2.03 Cr.. The value appears strong and on an upward trend. It has increased from -1.47 Cr. (Jun 2025) to 2.03 Cr., marking an increase of 3.50 Cr..
- For EPS in Rs, as of Sep 2025, the value is 1.29. The value appears strong and on an upward trend. It has increased from -0.90 (Jun 2025) to 1.29, marking an increase of 2.19.
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: 77.7 (Industry average Stock P/E: 132.58)
- 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 11 January 2026) is ₹972.01 which is 29.95% higher the current market price of ₹748.00, indicating undervalued. Calculated using the PE ratio method, this valuation considers the company's ₹1,180 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 1,180 Cr..
What is the current Stock Price of ICE Make Refrigeration Ltd as on 11 January 2026?
The current stock price of ICE Make Refrigeration Ltd as on 11 January 2026 is ₹748.
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 77.7.
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 0.30 %.
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.