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ICE MAKE REFRIGERATION Financial Statement Analysis
[NSE : ICEMAKE]

The Revenues of ICE MAKE REFRIGERATION have increased by 39.35% YoY .
The Earnings Per Share (EPS) of ICE MAKE REFRIGERATION has decreased by -47.24 % YoY.
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ICE MAKE REFRIGERATION Last 5 Annual Financial Results
[NSE : ICEMAKE]

ConsolidatedMar2026
Mar2025
Mar2024
Mar2023
Mar2022
Revenues ₹668 Cr₹480 Cr₹378 Cr₹312 Cr₹206 Cr
Expenses ₹623 Cr₹437 Cr₹338 Cr₹280 Cr₹192 Cr
Operating Profit (Excl OI) ₹45 Cr₹43 Cr₹41 Cr₹32 Cr₹14 Cr
Other Income ₹0.72 Cr₹0.90 Cr₹0.62 Cr₹1.12 Cr₹0.71 Cr
Interest ₹13 Cr₹4.12 Cr₹2.12 Cr₹1.25 Cr₹1.73 Cr
Depreciation ₹17 Cr₹8.31 Cr₹4.08 Cr₹3.91 Cr₹3.64 Cr
Profit Before Tax ₹16 Cr₹31 Cr₹35 Cr₹28 Cr₹9.82 Cr
Profit After Tax ₹12 Cr₹23 Cr₹26 Cr₹21 Cr₹7.32 Cr
Consolidated Net Profit ₹12 Cr₹23 Cr₹26 Cr₹21 Cr₹7.32 Cr
Earnings Per Share (Rs)₹7.73₹14.65₹16.64₹13.18₹4.66
PAT Margin (%)1.824.786.916.663.55
ROE(%)9.4420.0728.2129.1812.46
ROCE(%)11.8420.9634.9437.9417.11
Total Debt/Equity(x)1.130.660.240.040.14

Key Financials

Market Cap : ₹ 1,181.8 Cr
Revenue (TTM) : ₹ 735.6 Cr
Net Profit(TTM) : ₹ 11.9 Cr
EPS (TTM) : ₹ 6.6
P/E (TTM) : 99.0

Industry Peers & Returns1W1M1Y
ICE MAKE REFRIGERATION 3.9% 3% -9.3%
BHARAT HEAVY ELECTRICALS -1.7% -6.3% 73.8%
THERMAX -2.2% -5.5% -2.5%
KIRLOSKAR OIL ENGINES -1% -25.2% 109.9%
TRIVENI TURBINE 5.2% -13.7% -10.4%
JYOTI CNC AUTOMATION 0.1% -14.9% 5.9%
INOX INDIA -2% -10.2% 58.1%
AZAD ENGINEERING -4% -16.1% 52.4%
TEGA INDUSTRIES -1.1% -18.4% -6.4%


ICE MAKE REFRIGERATION Revenues
[NSE : ICEMAKE]

Y-o-Y

39.35 %

5 Yr CAGR

34.19 %

Years Revenues % Change
Mar2026 ₹668 Cr
39.35
Mar2025 ₹480 Cr
26.73
Mar2024 ₹378 Cr
21.20
Mar2023 ₹312 Cr
51.49
Mar2022 ₹206 Cr -


ICE MAKE REFRIGERATION Operating Profit
[NSE : ICEMAKE]

Y-o-Y

6.52 %

5 Yr CAGR

33.01 %

Years Operating Profit % Change
Mar2026 ₹45 Cr
6.52
Mar2025 ₹43 Cr
4.36
Mar2024 ₹41 Cr
26.94
Mar2023 ₹32 Cr
121.80
Mar2022 ₹14 Cr -

Operating Margins
Y-o-Y

-23.56 %

5 Yr CAGR

-0.90 %

Years Operating Margin% % Change
Mar2026 6.78%
-23.56
Mar2025 8.87%
-17.64
Mar2024 10.77%
4.66
Mar2023 10.29%
46.37
Mar2022 7.03% -

ICE MAKE REFRIGERATION Profit After Tax
[NSE : ICEMAKE]

Y-o-Y

-47.25 %

5 Yr CAGR

13.60 %

Years Profit After Tax % Change
Mar2026 ₹12 Cr
-47.25
Mar2025 ₹23 Cr
-11.97
Mar2024 ₹26 Cr
26.21
Mar2023 ₹21 Cr
184.17
Mar2022 ₹7.32 Cr -

PAT Margins
Y-o-Y

-61.92 %

5 Yr CAGR

-15.38 %

Years PAT Margin(%) % Change
Mar2026 1.82 %
-61.92
Mar2025 4.78 %
-30.82
Mar2024 6.91 %
3.75
Mar2023 6.66 %
87.61
Mar2022 3.55 % -

ICE MAKE REFRIGERATION Earnings Per Share (EPS)
[NSE : ICEMAKE]

Y-o-Y

-47.24 %

5 Yr CAGR

13.49 %

Years EPS % Change
Mar2026 ₹7.73
-47.24
Mar2025 ₹15
-11.96
Mar2024 ₹17
26.25
Mar2023 ₹13
182.83
Mar2022 ₹4.66 -

ICE MAKE REFRIGERATION Return on Capital Employed (ROCE)
[NSE : ICEMAKE]

Y-o-Y

-43.51 %

5 Yr CAGR

-8.79 %

Years ROCE % Change
Mar2026 11.84%
-43.51
Mar2025 20.96%
-40.01
Mar2024 34.94%
-7.91
Mar2023 37.94%
121.74
Mar2022 17.11% -

ICE MAKE REFRIGERATION Share Price vs Sensex

Current Share Price : ₹653.0
Current MarketCap: ₹ 1,181.8 Cr
Updated EOD on :Oct 30,2026

Share Price Returns(%) 1 Week 1 Month 1 Year
ICE MAKE REFRIGERATION

3.9%

3%

-9.3%

SENSEX

1.8%

2.3%

-11.9%

ICE MAKE REFRIGERATION related INDICES

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FAQ about ICE MAKE REFRIGERATION Financials


How the annual revenues of ICE MAKE REFRIGERATION have changed ?

The Revenues of ICE MAKE REFRIGERATION have increased by 39.35% YoY .

How the Earnings per Share (EPS) of ICE MAKE REFRIGERATION have changed?

The Earnings Per Share (EPS) of ICE MAKE REFRIGERATION has decreased by -47.24 % YoY .