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ICE Make Refrigeration Ltd.

NSE: ICEMAKE · Consumer Durables

Sector

Consumer Durables

Size band

Small cap

Market cap

1,139cr

P/E

89.8

ROE

19.6%

Dividend yield

0.3%

No price is shown on this page, live or delayed. It records what management said on the earnings call, and the company’s filings.

Measured against

Operating margin1.7%
peer 8.0%
Revenue growth60.4%
peer 25.8%
ICE Make Refrigeration Ltd.peer median

Peer set

Consumer Durables · largest 12 of 22 measured at Q1 FY27 · financials via Screener
CompanyOperating marginRevenue growth
Dixon Technologies (India) Ltd.3.0%21.1%
Voltas Ltd.4.9%18.7%
Honeywell Automation India Ltd.14.0%1.8%
Amber Enterprises India Ltd.8.0%12.7%
Netweb Technologies India Ltd.15.0%172.4%
PG Electroplast Ltd.7.0%35.2%
Whirlpool Of India Ltd.5.0%12.1%
TTK Prestige Ltd.10.0%33.7%
Ethos Ltd.13.0%33.5%
Symphony Ltd.12.0%50.6%
Bajaj Electricals Ltd.7.0%2.3%
ICE Make Refrigeration Ltd.1.7%60.4%

What management said

5 statements on record

Earnings call · Q1 FY27, quarter ended June 30, 2026 · 24 Aug 2026

  • EBITDA margin→around 6 to 6.5 percent· whole of the year this year
    “As far as the EBITDA guidance is concerned, currently Q1 we are impacted on the profitability. We are giving a guidance of around 6 to 6.5 percent for the whole of the year this year.”
  • EBITDA margin→6 to 6.5 % EBITDA· Q2 and Q3 FY27
    “So, this quarter and next quarter (Q2and Q3) we are expecting 6 to 6.5 % EBITDA, So, after averaging out full year we can achieve 6 to 6.5 % EBITDA margins.”
  • Installed capacity revenue potential→Rs 950 crore plus top line contribution· After the first phase of capacity building
    “After the first phase of capacity building, we can expect Rs 950 crore plus top line contribution. It is our installed capacity.”
  • Debt repayment→Rs. 40 crore repayment of debt
    “Rs. 40 crore repayment of debt is there in our preferential object and the other, Rs. 39 Crore is as a GCP is mostly towards the working capital need so, that is exactly where we are planning to pay the debt which is earlier used for the capex purpose.”
  • JV production start→targeted production by February 2028· February 2028
    “We have targeted production by February 2028. Our partner has given us a roadmap of 18 months.”

Taken from management commentary on the company’s earnings call and quoted verbatim. These are statements of intent made by the company, not forecasts by Bharatstox, and nothing here records whether they were met.

No broadcast calls recorded.

We log calls made about a company on business television — Zee Business, CNBC Awaaz and NDTV Profit — as they are stated on air. Nothing is on record for ICE Make Refrigeration Ltd..

Shareholding

change across 4 filings
CategorySep 26Jun 26Mar 26Dec 25Change
Promoters64.574.274.274.3−9.8
Foreign institutions0.00.30.20.1−0.1
Domestic institutions0.91.41.62.0−1.1
Retail & others34.624.123.923.6+11.0

As filed with the exchange for the periods ending Dec 25 to Sep 26.

Filings

latest 25 of 149

The 25 most recent of 149 filings we hold for ICEMAKE, back to January 2024. Every filing, by day.

Disclaimer

Guidance is quoted from management commentary on quarterly earnings calls; the words are the company's own and the targets are theirs, not ours. Peer comparisons use quarterly financials sourced from Screener, with every company measured at the same fiscal quarter; the peer set is companies sharing the same industry classification, and comparisons are descriptive, not a ranking or a view. Filings are reproduced as companies filed them to the NSE and BSE; Bharatstox does not verify, endorse or comment on their contents. This page is for informational and educational purposes only and does not constitute investment advice, research, or a recommendation to buy or sell any security. Investing in securities markets is subject to market risks. Read all related documents carefully before investing.

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