TipHub

₹855.8

▼ -7.42 -0.86%

As of 28 Jul 2026 · delayed

NSE Listed · Engineering

ICE Make Refrigeration Ltd. (ICEMAKE)

Volume: 30,228Avg Vol 1W: 95,258Avg Vol 1M: 44,64252W Range:₹660.3₹920
NSE BSE www.icemakeindia.com AI Report
Key Ratios
Checked 7h ago
Market Cap₹1,350 Cr
Current Price₹855.8
Previous Close₹863.22
High / Low (52w)₹920 / ₹660.3
Volume30,228
Avg Vol (1W)95,258
Avg Vol (1M)44,642
Stock P/E110.71
Book Value₹84.28
Dividend Yield26%
ROE9.17%
ROA240.67%
Revenue (TTM)—
Revenue Growth26.73%
Profit Margin182.43%
Total Debt₹48 Cr
Shares Outstanding2 Cr
Face Value₹10
EPS (TTM)₹7.73
P/B10.15
Debt / Equity1.19
50 DMA₹791.87
200 DMA₹764.52
Day change-0.86%
Price Chart
₹855.8▲ 10.30% · 1Y
₹886₹6656.4L
2025-07-29
2026-07-28

20-day avg volume: 45K shares

Pros
  • Pays a dividend yield of 26.0%.
  • Company is almost debt-free.
  • Revenue grew 66% YoY.
  • Net profit is growing year over year.
Cons
  • Stock trades at a high P/E of 111.
Quarterly Results
MetricJun 2024Sept 2024Dec 2024Mar 2025Jun 2025Sept 2025Dec 2025Mar 2026
Revenue₹85 Cr₹103 Cr₹111 Cr₹180 Cr₹112 Cr₹147 Cr₹153 Cr₹256 Cr
EBITDA₹5 Cr₹8 Cr₹5 Cr₹18 Cr₹0 Cr₹6 Cr₹6 Cr₹17 Cr
Net Profit₹4 Cr₹5 Cr₹3 Cr₹12 Cr₹-1 Cr₹2 Cr₹1 Cr₹10 Cr
EPS————————
Profit & Loss (Annual)
MetricSept 2024Dec 2024Mar 2025Mar 2025Jun 2025Sept 2025Dec 2025Mar 2026
Revenue₹101 Cr₹109 Cr₹480 Cr₹179 Cr₹112 Cr₹149 Cr₹153 Cr₹254 Cr
EBITDA₹8 Cr₹5 Cr₹35 Cr₹17 Cr₹0 Cr₹5 Cr₹5 Cr₹17 Cr
Net Profit₹5 Cr₹3 Cr₹23 Cr₹12 Cr₹-1 Cr₹1 Cr₹1 Cr₹10 Cr
EPS——14.65—————
Balance Sheet
MetricMar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Total Assets₹81 Cr₹83 Cr₹101 Cr₹108 Cr₹125 Cr₹159 Cr₹211 Cr₹368 Cr
Total Liabilities₹37 Cr₹33 Cr₹48 Cr₹51 Cr₹63 Cr₹78 Cr₹107 Cr₹244 Cr
Equity₹45 Cr₹50 Cr₹54 Cr₹56 Cr₹62 Cr₹81 Cr₹104 Cr₹124 Cr
Total Debt————————
Cash Flow
MetricMar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Operating₹2 Cr₹12 Cr₹1 Cr₹14 Cr₹11 Cr₹31 Cr₹19 Cr₹39 Cr
Investing₹-4 Cr₹-11 Cr₹-7 Cr₹-3 Cr₹-5 Cr₹-14 Cr₹-23 Cr₹-83 Cr
Financing₹16 Cr₹-10 Cr₹6 Cr₹-9 Cr₹-3 Cr₹-9 Cr₹17 Cr₹49 Cr
Free Cash Flow₹2 Cr₹12 Cr₹1 Cr₹14 Cr₹11 Cr₹31 Cr₹19 Cr₹39 Cr
Shareholding
Promoter 74.2% Institutions 1.69% Public 24.11%
Efficiency & Working Capital
ROCE9.9%
Interest Coverage8.5
Dividend Payout—
Debtor Days72 d
Inventory Days82 d
Payable Days84 d
Cash Conversion Cycle70 d
Working Capital Days154 d
Shareholding Details

As of 2026-06-30

Promoter74.2%
FII0.3%
DII1.4%
Institutions1.7%
Public24.1%
Promoter Pledge8%
No. of Shareholders23,616
Shareholding Pattern

Quarterly — figures in %. Latest 12 quarters.

PeriodSept 2023Dec 2023Mar 2024Jun 2024Sept 2024Dec 2024Mar 2025Jun 2025Sept 2025Dec 2025Mar 2026Jun 2026
Promoters74.5%74.5%74.5%74.5%74.5%74.5%74.4%74.4%74.4%74.3%74.2%74.2%
FIIs0.1%0%0%0%0%0%0.3%0%0%0.1%0.2%0.3%
DIIs0%0%0%0%0%0%0%0%0%2%1.6%1.4%
Public25.5%25.5%25.5%25.5%25.5%25.5%25.3%25.6%25.6%23.6%23.9%24.1%
Promoter Pledge0%0%0%0%4.2%4.2%4.2%8%8%7.9%0%8%
No. of Shareholders14,48119,28522,66823,22524,54324,77624,63225,65625,19424,24925,55123,616
Returns History (ROE / ROCE / ROA)
PeriodROEROCEROAP/E
202503————
Major Shareholders (>1%)
NameCategoryStakeShares
Patel Rajendrabhai PShareholding of Promoter and Promoter Group23.5%37,03,280
Vipulbhai Ishwarbhai PatelShareholding of Promoter and Promoter Group23.2%36,55,360
Chandrakant Popatbhai PatelShareholding of Promoter and Promoter Group23%36,27,024
Popatbhai Laljibhai PatelShareholding of Promoter and Promoter Group1.5%2,36,960
Niveshaay Hedgehogs FundPublic Shareholding1.3%2,11,757
Alpesh Bhaichandbhai SoniPublic Shareholding1.3%2,03,000
Ishwarbhai Laljibhai PatelShareholding of Promoter and Promoter Group0.6%96,000
Gauriben Popatbhai PatelShareholding of Promoter and Promoter Group0.5%80,000
Kantaben Ishwarlal PatelShareholding of Promoter and Promoter Group0.5%80,000
Kapilaben Vipulbhai PatelShareholding of Promoter and Promoter Group0.5%74,000
Jyotsnaben Rajendrabhai PatelShareholding of Promoter and Promoter Group0.5%72,000
Ramilaben Chandrakantbhai PatelShareholding of Promoter and Promoter Group0.4%62,149
Manishaben Bhailal PatelShareholding of Promoter and Promoter Group0.1%20,000
Monika G PatelShareholding of Promoter and Promoter Group0%650
Gaurav G PatelShareholding of Promoter and Promoter Group0%550
Manharbhai Polabhai PatelShareholding of Promoter and Promoter Group0%0
Kantibhai K PatelShareholding of Promoter and Promoter Group0%0
Patel Ashishbhai ParsottambhaiShareholding of Promoter and Promoter Group0%0
Patel Labhuben ManharbhaiShareholding of Promoter and Promoter Group0%0
Patel Devarsh ChandrakantShareholding of Promoter and Promoter Group0%0
Ketul PatelShareholding of Promoter and Promoter Group0%0
Patel Saroj PankajbhaiShareholding of Promoter and Promoter Group0%0
Alpaben Vipulkumar PatelShareholding of Promoter and Promoter Group0%0
Rajubhai Maharbhai PatelShareholding of Promoter and Promoter Group0%0
Vidhi PatelShareholding of Promoter and Promoter Group0%0
Promoter Pledges
HolderPledged Shares% of HoldingAs of
Patel Rajendrabhai P1,50,0004.1%2026-06-30
Vipulbhai Ishwarbhai Patel1,50,0004.1%2026-06-30
Chandrakant Popatbhai Patel6,39,65017.6%2026-06-30
Board of Directors
NameDesignationYear
Chandrakant P PatelChairman / Executive Director / M D / Promoter2025
Rajendra P PatelED / Joint MD / Promoter2025
Vipul I PatelED / Joint MD / Promoter2025
Darsha R KikaniIndependent Non Exe. Director2025
Harshadrai P PandyaIndependent Non Exe. Director2025
Krishnakant L PatelIndependent Non Exe. Director2025
Mandar DesaiCompany Sec. & Compli. Officer2025
Segments — Product
SegmentRevenueShare
Manufacturing of Cold Rooms, Freeze₹0 Cr—
Capital Structure (₹ Cr)
YearFace ValueAuthorisedIssuedPaid-up
2025₹10181616
Corporate Actions
TypeDateValueRemark
forthcoming2026-07-24Board Meetings—
dividend2025-09-19₹2.25 (22.5%)Final
Related-Party Transactions (₹ Cr)
YearSubsidiariesAssociatesJVKMPOthersTotal
202532002135
202517002018
202515000116
Company Information
Incorporated2009
ChairmanChandrakant P Patel
AuditorUmesh Shah & Associates
Investor Email[email protected]
🌐 www.icemakeindia.com ↗

📍 B-1 Vasupujya Chamber, Neer Navdeep Bldg IT Cross Rod, Ahmedabad, Gujarat, 380009

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