Ice Make Refrigeration Limited

Web: icemakeindia.com NSE: ICEMAKE SECTOR: Capital Goods - Industrial Manufacturing | Add Note | View Notes

628 16(-3%)

Near 52W Low of 602

Volume

53k as on 18, Sep

Open

742

High

796

Low

742

644

VWAP

683

52 Week High

920

52 Week Low

602

Viand Research Rating

Quality Score

5/100

Growth Score

60/100

Valuation Score

50/100

Momentum Score

0/100

Analyst Recommendations

BUY/SELL

Hold | Buy | Strong Buy

Analyst Price Target

Market Cap (cr)

1,140

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

Rank/Sector Rank

#1523/#235

Promoter Holding

74.2%

FII Holding

0.31%

DII Holding

1.38%

Price Chart

Price Performance

1 Week6%

1 Month6%

3 Months9%

6 Months16%

1 Year18%

YTD18%

Moving Average

5 Day SMA690

10 Day SMA710

20 Day SMA723

30 Day SMA740

50 Day SMA773

61 Day SMA773

80 Day SMA774

200 Day SMA0

PIVOT LEVEL

	Standard	Camarilla	Fibonacci	Woodie's
Resistance 3	709	676	699	705
Resistance 2	699	673	690	697
Resistance 1	684	671	684	680
Pivot Point	674	669	674	673
Support 1	659	667	665	656
Support 2	650	664	659	648
Support 3	634	662	650	631

Competitors/Peers

#	Symbol	MCAP	LTP	1W	1M	6M	1Y	P/E	Ind PE	Debt/Eq	NP Qtr Rs.Cr.
1	HAL	3,24,650	4854	7%	6%	14%	3%	31	94.2	0	9116
2	BEL	2,71,339	371	2%	2%	17%	10%	49	94.2	0	6062
3	TMCV	1,53,572	417	3%	1%	5%	28%	0	94.2	0.44	3030
4	BHEL	1,42,834	410	0%	6%	41%	86%	409	94.2	0.22	1578
5	ABB	1,39,001	6560	0%	3%	1%	30%	93	94.2	0.02	1668
6	CGPOWER	1,29,346	821	1%	1%	12%	14%	119	94.2	0.01	1199
7	POWERINDIA	1,25,025	28050	5%	4%	3%	66%	150	94.2	0.02	988
8	CUMMINSIND	1,23,077	4440	5%	7%	9%	15%	74	94.2	0	2330
9	SIEMENS	1,21,815	3421	1%	3%	2%	17%	66	94.2	0.02	2754
10	POLYCAB	1,17,107	7770	0%	1%	4%	7%	52	94.2	0.01	2601
Load More

Shareholding Pattern (%)

	Jun 2026	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	(0.01) 74.20%	(-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) 0.31%	(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	(-0.31) 1.38%	(-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	24.11%	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	23,616	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

	Jun 2026	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	178.88	255.85	153.36	147.49	111.5	180.35	110.56	103.39	85.23	139.92	82.43	76.89	79.14	114	66.68	67.12	64.85	77	48.86	47.9	32.44
Sales Growth % (YoY)	60%	42%	39%	43%	31%	29%	34%	34%	8%	23%	24%	15%	22%	47.7%	36.5%	40.1%	99.9%	42.9%	46.5%	56.5%	92.1%
Sales Growth % (QoQ)	-30.1%	66.8%	4%	32.3%	-38.2%	63.1%	6.9%	21.3%	-39.1%	69.7%	7.2%	-2.8%	-30.6%	71%	-0.7%	3.5%	-15.8%	57.6%	2%	47.7%	-
Expenses	175.9	234.46	143.46	137.88	107.1	158.96	103.89	94.94	79.19	119.23	78.13	69.31	70.96	101	59.37	59.78	59.54	68	45.93	44.96	32.45
Operating Profit	2.98	21.39	9.9	9.61	4.4	21.39	6.67	8.45	6.04	20.69	4.3	7.58	8.18	12	7.31	7.34	5.31	9	2.93	2.94	-0.01
OPM %	1.67	8.36	6.46	6.52	3.95	11.86	6.03	8.17	7.09	14.79	5.22	9.86	10.34	11	10.96	10.94	8.19	11	6	6.14	-0.03
Other Income	0.11	0.38	0.13	0.09	0.13	0.46	0.22	0.12	0.1	0.23	0.1	0.13	0.17	1	0.14	0.19	0.06	0	0.14	0.09	0.12
Interest	3.27	3.72	3.85	2.73	2.29	1.63	1.15	0.9	0.45	0.52	0.66	0.7	0.23	0	0.57	0.18	0.31	1	0.51	0.41	0.27
Depreciation	2.05	4.49	4.28	4.2	4.08	4.16	2.15	1.04	0.95	1.07	1.03	1.01	0.97	1	1	0.94	0.91	1	0.85	0.84	0.95
Profit before tax	-2.23	13.56	1.9	2.77	-1.84	16.06	3.59	6.63	4.74	19.33	2.71	6	7.15	12	5.88	6.41	4.15	7	1.71	1.78	-1.11
Tax %	-26.01	25.37	23.68	27.08	-20.11	27.4	22.01	27.75	23	26.23	25.46	25.17	25.17	26	24.66	27.61	25.3	26	25.73	24.16	-26.13
Net Profit	-1.66	10.12	1.45	2.03	-1.47	11.67	2.81	4.79	3.64	14.26	2.02	4.49	5.36	9	4.43	4.64	3.1	6	1.27	1.34	-0.83
Net Profit Growth % (QoQ)	-116.4%	597.9%	-28.6%	238.1%	-112.6%	315.3%	-41.3%	31.6%	-74.5%	605.9%	-55%	-16.2%	-40.4%	103.2%	-4.5%	49.7%	-48.3%	372.4%	-5.2%	261.4%	-
Net Profit Growth % (YoY)	-12.9%	-13.3%	-48.4%	-57.6%	-140.4%	-18.2%	39.1%	6.7%	-32.1%	58.4%	-54.4%	-3.2%	72.9%	50%	248.8%	246.3%	473.5%	-	-	-	-
TTM Net Profit	11.94	12.13	13.68	15.04	17.8	22.91	25.5	24.71	24.41	26.13	20.87	23.28	23.43	21.17	18.17	15.01	11.71	7.78	1.78	0.51	0
EPS in Rs	-1.04	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

Delivery Data: ICEMAKE

#	Date	602 39% 834	Value (Cr)	Q/T 12	Del 50	Del 4
1	21-Oct	625	1	9	33	0
2	19-Oct	644	1	10	50	0
3	16-Oct	665	0	9	51	0
4	15-Oct	667	0	8	47	0
5	14-Oct	666	1	13	63	0
6	13-Oct	674	1	8	60	0
7	12-Oct	682	1	10	56	1
8	9-Oct	661	1	9	46	1
9	8-Oct	660	3	13	24	1
10	7-Oct	673	5	15	45	2
11	6-Oct	631	1	12	53	0
12	5-Oct	629	1	10	58	1
13	1-Oct	624	2	12	49	1
14	30-Sep	630	1	12	66	1
15	29-Sep	634	3	19	71	2
16	28-Sep	649	2	13	68	1
17	25-Sep	664	4	19	56	2
18	24-Sep	677	3	11	75	2
19	23-Sep	699	1	13	65	1
20	22-Sep	702	1	12	61	1
21	21-Sep	694	1	3	58	0
22	18-Sep	686	4	22	73	3
23	17-Sep	669	3	5	61	2
24	16-Sep	672	3	4	61	2
25	15-Sep	696	2	16	63	1
26	11-Sep	730	1	15	60	1
27	10-Sep	728	1	12	37	0
28	9-Sep	726	1	7	52	0
29	8-Sep	730	1	10	61	0
30	7-Sep	725	1	12	65	0
31	4-Sep	739	1	12	67	0
32	3-Sep	739	1	16	56	1
33	2-Sep	740	1	10	58	0
34	1-Sep	733	1	10	50	0
35	31-Aug	749	2	13	60	1
36	28-Aug	743	1	11	60	0
37	27-Aug	748	2	14	47	1
38	26-Aug	734	0	14	70	0
39	25-Aug	726	1	9	62	1
40	24-Aug	726	2	13	58	1
41	21-Aug	722	2	15	63	1
42	20-Aug	726	1	14	61	1
43	19-Aug	728	3	17	47	1
44	18-Aug	728	7	15	36	3
45	17-Aug	722	5	18	66	4
46	14-Aug	752	10	20	73	8
47	13-Aug	811	2	15	58	1

Daily Market Cap

Date	Total Market Cap	Change	Chg %
21-Oct	1,140c	24c	2.04
19-Oct	1,163c	44c	3.60
17-Oct	1,207c	0	0
16-Oct	1,207c	11c	0.89
15-Oct	1,218c	3c	0.27
14-Oct	1,214c	6c	0.49
13-Oct	1,220c	15c	1.25
12-Oct	1,236c	55c	4.65
09-Oct	1,181c	6c	0.49
08-Oct	1,187c	59c	5.20
05-Oct	1,128c	5c	0.48
01-Oct	1,123c	42c	3.58
29-Sep	1,164c	139c	13.53
28-Sep	1,026c	10c	0.91
25-Sep	1,035c	69c	6.27
24-Sep	1,104c	24L	0.02
22-Sep	1,105c	40c	3.80
17-Sep	1,064c	75c	6.59
10-Sep	1,139c	14c	1.25
07-Sep	1,154c	0	0

Stock Checklist

Price is above from 52 week high low average: 8%

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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