Ice Make Refrigeration Limited

Web: icemakeindia.com NSE: ICEMAKE SECTOR: Capital Goods - Industrial Manufacturing

867 12(-1%)

Near 52W High of 920

Volume

82k as on 23, Jun

Open

742

High

796

Low

742

879

VWAP

775

52 Week High

920

52 Week Low

660

Viand Research Rating

Quality Score

19/100

Growth Score

60/100

Valuation Score

50/100

Momentum Score

45/100

Analyst Recommendations

BUY/SELL

Hold | Buy | Strong Buy

Analyst Price Target

Market Cap (cr)

1,368

No. of Shares

1.58

P/E

P/B

Face Value

Div. Yield

Book Value (TTM)

CASH

DEBT

EPS (TTM)

ROE

ROCE

Profit Growth

Listing Date

12-Oct-20

Promoter Holding

74.2%

FII Holding

0.22%

DII Holding

1.64%

Price Chart

Price Performance

1 Week2%

1 Month2%

3 Months10%

6 Months7%

1 Year7%

YTD7%

Moving Average

5 Day SMA762

10 Day SMA765

20 Day SMA780

30 Day SMA777

50 Day SMA786

61 Day SMA773

80 Day SMA0

200 Day SMA0

PIVOT LEVEL

	Standard	Camarilla	Fibonacci	Woodie's
Resistance 3	806	780	794	811
Resistance 2	794	778	786	796
Resistance 1	784	776	780	789
Pivot Point	772	774	772	774
Support 1	762	772	764	767
Support 2	750	770	758	752
Support 3	740	768	750	745

Competitors/Peers

#	Symbol	MCAP	LTP	1W	1M	6M	1Y	P/E	Ind PE	Debt/Eq	NP Qtr Rs.Cr.
1	HAL	3,06,834	4588	3%	1%	5%	3%	31	94	0	9116
2	BEL	2,96,302	405	1%	6%	3%	2%	49	94	0	6062
3	ABB	1,59,609	7532	4%	3%	58%	31%	93	94	0.01	1668
4	CUMMINSIND	1,55,509	5610	1%	3%	37%	54%	74	94	0	2362
5	TMCV	1,50,246	408	4%	1%	9%	23%	0	94	0.44	3030
6	POWERINDIA	1,42,988	32080	6%	13%	90%	61%	150	94	0.02	988
7	BHEL	1,42,068	408	0%	1%	66%	66%	409	94	0.31	1600
8	CGPOWER	1,39,149	884	2%	5%	59%	34%	119	94	0.01	1199
9	POLYCAB	1,34,724	8943	3%	9%	30%	32%	52	94	0.02	2708
10	SIEMENS	1,30,874	3675	2%	3%	25%	16%	66	94	0.02	2754
Load More

Shareholding Pattern (%)

	Mar 2026	Dec 2025	Sep 2025	Jun 2025	Mar 2025	Dec 2024	Sep 2024	Jun 2024	Mar 2024	Dec 2023	Sep 2023	Jun 2023	Mar 2023	Dec 2022	Sep 2022	Jun 2022	Mar 2022	Dec 2021	Sep 2021
Promoters	(-0.11) 74.20%	(-0.11) 74.26%	(0.01) 74.36%	(0.01) 74.40%	(-0.11) 74.41%	(0.01) 74.49%	(0.01) 74.49%	(0.01) 74.49%	(0.01) 74.49%	(0.01) 74.49%	(0.01) 74.49%	(0.01) 74.49%	(0.01) 74.49%	(0.01) 74.49%	(-0.11) 74.49%	(-0.31) 74.63%	(0.01) 74.89%	(0.01) 74.86%	(0.01) 74.82%
FIIs	(0.11) 0.22%	(0.11) 0.11%	(0.01) 0.01%	(-0.31) 0.01%	(0.31) 0.33%	(0.01) 0.00%	(0.01) 0.00%	(0.01) 0.02%	(0.01) 0.00%	(0.01) 0.02%	(0.01) 0.05%	(0.01) 0.05%	(0.01) 0.05%	(0.01) 0.05%	(0.11) 0.05%	(0.01) 0.00%	(0.01) 0.00%	(0.01) 0.00%	(0.01) 0.00%
DIIs	(-0.41) 1.64%	(0.71) 1.99%	(0.11) 1.31%	(0.31) 1.21%	(0.31) 0.87%	(0.61) 0.58%	(0.01) 0.00%	(0.01) 0.00%	(0.01) 0.00%	(0.01) 0.00%	(0.01) 0.00%	(0.01) 0.00%	(0.01) 0.00%	(0.01) 0.00%	(0.01) 0.00%	(0.01) 0.00%	(0.01) 0.00%	(0.01) 0.00%	(0.01) 0.00%
Public	23.94%	23.64%	24.32%	24.38%	24.39%	24.93%	25.51%	25.50%	25.51%	25.49%	25.46%	25.46%	25.46%	25.46%	25.46%	25.50%	25.13%	25.14%	25.18%
No. of Shareholders	25,551	24,249	25,194	25,656	24,633	24,776	24,543	23,225	22,668	19,285	14,481	11,566	10,042	8,462	5,596	3,907	4,338	4,401	3,990

Quarterly Results

	Mar 2026	Dec 2025	Sep 2025	Jun 2025	Mar 2025	Dec 2024	Sep 2024	Jun 2024	Mar 2024	Dec 2023	Sep 2023	Jun 2023	Mar 2023	Dec 2022	Sep 2022	Jun 2022	Mar 2022	Dec 2021	Sep 2021	Jun 2021
Sales	256	153	147	112	180	111	103	85	140	82	77	79	114	66.68	67.12	64.85	77	48.86	47.9	32.44
Sales Growth % (YoY)	41.9%	38.7%	42.6%	30.8%	28.9%	34.1%	34.5%	7.7%	23.2%	23.6%	14.6%	22%	47.7%	36.5%	40.1%	99.9%	42.9%	46.5%	56.5%	92.1%
Sales Growth % (QoQ)	67.3%	4.1%	31.2%	-37.8%	62.2%	7.8%	21.2%	-39.3%	70.7%	6.5%	-2.5%	-30.7%	71%	-0.7%	3.5%	-15.8%	57.6%	2%	47.7%	-
Expenses	234	143	138	107	159	104	95	79	119	78	69	71	101	59.37	59.78	59.54	68	45.93	44.96	32.45
Operating Profit	21	10	10	4	21	7	8	6	21	4	8	8	12	7.31	7.34	5.31	9	2.93	2.94	-0.01
OPM %	8	6	7	4	12	6	8	7	15	5	10	10	11	10.96	10.94	8.19	11	6	6.14	-0.03
Other Income	0	0	0	0	0	0	0	0	0	0	0	0	1	0.14	0.19	0.06	0	0.14	0.09	0.12
Interest	4	4	3	2	2	1	1	0	1	1	1	0	0	0.57	0.18	0.31	1	0.51	0.41	0.27
Depreciation	4	4	4	4	4	2	1	1	1	1	1	1	1	1	0.94	0.91	1	0.85	0.84	0.95
Profit before tax	14	2	3	-2	16	4	7	5	19	3	6	7	12	5.88	6.41	4.15	7	1.71	1.78	-1.11
Tax %	25	24	27	-20	27	22	28	23	26	25	25	25	26	24.66	27.61	25.3	26	25.73	24.16	-26.13
Net Profit	10	1	2	-1	12	3	5	4	14	2	4	5	9	4.43	4.64	3.1	6	1.27	1.34	-0.83
Net Profit Growth % (QoQ)	900%	-50%	300%	-108.3%	300%	-40%	25%	-71.4%	600%	-50%	-20%	-44.4%	103.2%	-4.5%	49.7%	-48.3%	372.4%	-5.2%	261.4%	-
Net Profit Growth % (YoY)	-16.7%	-66.7%	-60%	-125%	-14.3%	50%	25%	-20%	55.6%	-54.9%	-13.8%	61.3%	50%	248.8%	246.3%	473.5%	-	-	-	-
TTM Net Profit	12	14	16	19	24	26	25	24	25	20	22.43	23.07	21.17	18.17	15.01	11.71	7.78	1.78	0.51	0
EPS in Rs	6.41	0.93	1.29	-0.9	7.42	1.82	3.05	2.35	9.06	1.28	2.86	3.4	5.47	2.81	2.94	1.96	3.52	0.81	0.85	-0.53

Profit and Loss

	Mar 2026	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021	Mar 2020	Mar 2019	Mar 2018	Mar 2017
Sales	668	480	378	312	206	135	138	132	103	88
Sales Growth %	39.4%	26.7%	21.2%	51.5%	53.1%	-2.2%	4.6%	28.1%	16.9%	-
Expenses	623	437	338	280	192	124	125	118	90	78
Operating Profit	45	43	41	32	14	10	13	14	13	10
OPM %	7	9	11	10	7	8	9	10	12	11
Other Income	1	1	1	1	1	1	0	0	0	0
Interest	13	4	2	1	2	2	2	1	2	1
Depreciation	17	8	4	4	4	4	3	2	2	2
Profit before tax	16	31	35	28	10	5	8	11	10	7
Tax %	26	26	26	26	25	32	26	29	32	32
Net Profit	12	23	26	21	7	4	6	7	7	5
Net Profit Growth %	-47.8%	-11.5%	23.8%	200%	75%	-33.3%	-14.3%	-	40%	-
EPS in Rs	7.73	14.65	16.64	13.18	4.66	2.3	3.64	4.77	4.23	6.95
Dividend Payout %	29	15	12	14	26	52	33	25	24	0

Cash Flows

	Mar 2026	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021	Mar 2020	Mar 2019	Mar 2018	Mar 2017
Cash from Operating Activity	-11	30	10	24	8	12	-1	8	-2	8
Cash from Investing Activity	-40	-83	-23	-14	-5	-3	-7	-12	-4	-4
Cash from Financing Activity	52	49	17	-9	-3	-9	6	-10	16	0
Net Cash Flow	1	-5	4	1	0	0	-2	-13	11	3

Balance Sheet

	Mar 2026	Sep 2025	Mar 2025	Sep 2024	Mar 2024	Mar 2023	Mar 2022	Mar 2021	Mar 2020	Mar 2019	Mar 2018	Mar 2017
Equity Capital	16	16	16	16	16	16	16	16	16	16	16	7
Reserves	117	105	108	94	88	65	46	41	38	34	29	8
Borrowings	158	169	86	81	27	5	11	10	17	3	10	15
Other Liabilities	212	137	158	93	80	73	52	42	34	29	27	25
Total Liabilities	504	426	368	284	211	159	125	108	105	83	81	55
Fixed Assets	140	141	133	53	50	32	32	30	27	23	13	11
CWIP	25	12	6	52	12	0	0	1	0	0	1	0
Investments	0	0	0	0	0	5	0	0	0	0	0	0
Other Assets	338	274	229	180	149	122	93	77	78	60	68	44
Total Assets	504	426	368	284	211	159	125	108	105	83	81	55

Delivery

#	Date	719 28% 920	Value (Cr)	Q/T 19	Del 44	Del 7
1	22-Jul	879	20	18	37	8
2	21-Jul	839	3	18	61	2
3	20-Jul	837	7	19	62	5
4	17-Jul	801	2	15	62	1
5	16-Jul	805	3	13	54	2
6	15-Jul	788	2	13	57	1
7	14-Jul	786	3	16	58	2
8	13-Jul	765	1	16	61	1
9	10-Jul	764	1	12	51	1
10	9-Jul	758	1	11	52	0
11	8-Jul	748	1	13	55	1
12	7-Jul	767	1	10	55	0
13	6-Jul	774	1	12	57	0
14	3-Jul	782	1	12	44	1
15	2-Jul	791	1	15	53	1
16	1-Jul	796	4	20	35	2
17	30-Jun	796	5	14	54	3
18	29-Jun	761	1	16	55	1
19	25-Jun	769	1	13	51	1
20	24-Jun	780	2	14	43	1
21	23-Jun	777	6	21	38	2
22	22-Jun	774	3	20	41	1
23	19-Jun	752	2	20	49	1
24	18-Jun	751	2	14	63	1
25	17-Jun	758	1	14	57	1
26	16-Jun	762	2	17	63	1
27	15-Jun	763	2	16	58	1
28	12-Jun	776	2	15	42	1
29	11-Jun	777	3	17	56	1
30	10-Jun	762	2	15	53	1
31	9-Jun	755	2	16	53	1
32	8-Jun	741	7	23	45	3
33	5-Jun	753	3	21	57	2
34	4-Jun	768	5	17	38	2
35	3-Jun	780	4	17	57	3
36	2-Jun	771	3	15	55	2
37	1-Jun	788	9	17	44	4
38	29-May	835	9	15	36	3
39	27-May	877	9	15	46	4
40	26-May	886	57	28	24	14
41	25-May	816	4	21	64	3
42	22-May	794	3	25	59	2
43	21-May	779	3	20	52	2
44	20-May	751	1	12	54	1
45	19-May	747	1	10	51	0
46	18-May	751	2	16	60	1
47	15-May	768	1	11	45	0
48	14-May	767	1	14	47	1

Daily Market Cap

Date	Total Market Cap	Change	Chg %
23-Jul	1,368c	21c	1.48
22-Jul	1,389c	57c	4.27
21-Jul	1,332c	66c	5.24
17-Jul	1,266c	8L	0.01
16-Jul	1,266c	23c	1.88
15-Jul	1,242c	32c	2.64
14-Jul	1,210c	7c	0.56
13-Jul	1,204c	1c	0.11
10-Jul	1,202c	7c	0.61
09-Jul	1,195c	12c	0.97
08-Jul	1,184c	29c	2.42
07-Jul	1,213c	18c	1.46
06-Jul	1,231c	29c	2.33
02-Jul	1,260c	32L	0.03
30-Jun	1,261c	60c	5.04
29-Jun	1,200c	8c	0.65
26-Jun	1,208c	15c	1.19
25-Jun	1,223c	11c	0.91
24-Jun	1,234c	2c	0.14
23-Jun	1,236c	18c	1.49
22-Jun	1,217c	23c	1.92
19-Jun	1,195c	5c	0.39
18-Jun	1,190c	7c	0.62
17-Jun	1,197c	14c	1.15
16-Jun	1,211c	8c	0.67
15-Jun	1,203c	25c	2.04
12-Jun	1,228c	1c	0.11
11-Jun	1,227c	22c	1.81
10-Jun	1,205c	0	0

Stock Checklist

Price is above from 52 week high low average: 59%

Stock is trading above all short term SMAs: NO

Stock is trading above all long term SMAs: YES

Stock is Consistently Improving Long Term: NO

FII purchased in last quarter: YES

Promoters are buying the stock: NO

Mutual Fund Holdings

No mutual fund holding data available.

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