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Quality Score 
0/0
Growth Score
0/0
Valuation Score
0/0
Momentum Score
0/0
Today’s Range
52 Week Range
Liquidity
Market cap
₹1,250 Cr
Revenue (TTM)
₹593 Cr
Net Profit (TTM)
₹14 Cr
ROE
20.1 %
ROCE
21 %
P/E Ratio
90.7
P/B Ratio
10.2
Industry P/E
39.39
EV/EBITDA
30.5
Div. Yield
0.3 %
Debt to Equity
0.7
Book Value
₹77.7
EPS
₹8.7
Face value
10
Shares outstanding
15,779,735
CFO
₹99.60 Cr
EBITDA
₹197.12 Cr
Net Profit
₹107.58 Cr
|
Company
|
YTD
|
1 Month
|
3 Months
|
1 Year
|
3 Years
|
5 Years
|
10 Years
|
|---|---|---|---|---|---|---|---|
|
ICE Make
| -3.8 | -3.5 | -4.6 | -12.2 | 45.1 | 62.8 | -- |
|
BSE CG
| 2.6 | -0.7 | 2.3 | 12.1 | 25.4 | 26.4 | 18.5 |
|
Company
|
2025
|
2024
|
2023
|
2022
|
2021
|
2020
|
2019
|
|---|---|---|---|---|---|---|---|
|
ICE Make
| 6.2 | 21.6 | 144.0 | 251.0 | -29.2 | 88.2 | -26.1 |
|
BSE Small Cap
| -6.6 | 29.0 | 47.5 | -1.8 | 62.8 | 32.1 | -6.8 |
|
BSE CG
| -1.0 | 21.6 | 66.9 | 16.0 | 53.4 | 10.6 | -10.0 |
Is there a threat to the company's solvency?
Can creative accounting be detected through the financial numbers?
How did the company perform in the last one year?
5Y Avg -- 3Y Avg -- TTM --
P/E Ratio
--
--Min --Median --Max
P/B Ratio
--
--Min --Median --Max
Earnings Yield (%)
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Earnings Yield (%) = EBIT / Enterprise value
PEG Ratio
--
Price = Price / Earnings to growth ratio
Company |
Price (₹) | Market Cap (₹ Cr) | Revenue (TTM) | Net Profit (TTM) | OPM (%) | ROE (%) | P/E | P/B |
|---|---|---|---|---|---|---|---|---|
|
ICE Make
|
779.3 | 1,250.2 | 592.7 | 13.7 | 4.8 | 11.2 | 90.7 | 10.2 |
| 3,545.1 | 32,774.1 | 4,310.6 | 1,149.3 | 25.1 | 16.3 | 28.2 | 4.3 | |
| 479.5 | 5,547.0 | 2,100.6 | 221.1 | 11.9 | 18.5 | 25.1 | 4.3 | |
| 398.8 | 8,885.1 | 2,418.0 | 478.5 | 19.2 | 19.5 | 18.4 | 3.8 | |
| 887.4 | 4,001.0 | 3,387.0 | 12.7 | 7.8 | 8.1 | 226.8 | 3.4 | |
| 908.6 | 6,636.4 | 6,515.0 | 277.3 | 8.0 | 12.3 | 28 | 2.3 | |
| 747.6 | 16,924.8 | 2,069.7 | 354.4 | 24.7 | 20.2 | 47.8 | 8.8 | |
| 1,395.4 | 20,693.3 | 7,337.7 | 533.8 | 16.2 | 16.8 | 37.8 | 5.9 | |
| 42.4 | 6,213.1 | 1,038.1 | 139.1 | 13.9 | 17.6 | 38.5 | 4.9 | |
| 1,670.7 | 12,765.7 | 1,701.3 | 196.0 | 13.2 | 14.1 | 63.2 | 4.0 |
No Review & Analysis are available.
Ice Make Refrigeration Limited, together with its subsidiaries, manufactures and supplies refrigeration products and equipment under the Ice Make, Bharat, and TransFreez brands in India. The company offers cold storage products, including modular,... combi, walk-in, custom-built, and solar cold rooms, as well as blast freezers and chillers, glass door display chillers, ripening chambers, cold room PUF panel and accessories, and cold room refrigeration units; and chest freezers and visi coolers. It also provides commercial refrigeration consisting of dairy processing plant solutions; curd incubation and mortuary chambers; ice cream plants; bulk milk chillers; batch pasteurizers; ageing vat; ice candy production machines; ice cream hardeners; mini blast freezers and chillers; heat pump food dehydrators; vacuum freeze dryers; and commercial, reach-in, and merchandising freezers. In addition, the company offers continuous sandwich PUF panels; industrial refrigeration products, including chilling plants and ice building tanks; transport refrigeration products comprising refrigerator, eutectic mobile, dry insulated, and MS corrugated refrigerated containers; and ammonia refrigeration products, such as turnkey projects for cold storages, and glycol and water chillers. It sells its products through dealers. The company exports its products to approximately 24 countries. It serves the dairy, agriculture, cold chain, food processing, retail, pharmaceutical, ice cream, hospitality, hospital, logistics, chemical, and e-commerce industries. Ice Make Refrigeration Limited was founded in 1989 and is headquartered in Gandhinagar, India. Read more
Incorporated
2009
Chairman
Chandrakant P Patel
Managing Director
Chandrakant P Patel
Headquarters
Ahmedabad, Gujarat
Website
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The share price of ICE Make Refrigeration Ltd is ₹779.25 (NSE) as of 20-Mar-2026 11:34 IST. ICE Make Refrigeration Ltd has given a return of 45.07% in the last 3 years.
The P/E ratio of ICE Make Refrigeration Ltd is 90.69 times as on 20-Mar-2026, a 130 premium to its peers’ median range of 39.39 times.
The P/B ratio of ICE Make Refrigeration Ltd is 10.20 times as on 20-Mar-2026, a 166 premium to its peers’ median range of 3.84 times.
PE & PB ratio at the end of financial year.
| Year | P/E Ratio | P/B Ratio |
|---|---|---|
|
2025
|
61.47
|
11.45
|
|
2024
|
28.44
|
7.17
|
|
2023
|
19.89
|
5.10
|
|
2022
|
20.83
|
2.48
|
|
2021
|
28.95
|
1.87
|
The 52-week high and low of ICE Make Refrigeration Ltd are Rs 1,088.75 and Rs 666.30 as of 20-Mar-2026.
ICE Make Refrigeration Ltd has a market capitalisation of ₹ 1,250 Cr as on 20-Mar-2026. As per SEBI classification, it is a Small Cap company.
Before investing in ICE Make Refrigeration Ltd, assess your goals, risk tolerance, and if the company aligns with your long-term plan. Carefully review its business model, financials, and valuation. Avoid making decisions based on tips or short-term trends.
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