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ICE MAKE REFRIGERAT

ICE MAKE REFRIGERAT Latest Share Price (ICEMAKE)

TechnicalsTV Chart
₹643.70
21.20−3.19%
Overall Score36/100
Day range641
₹643.70
679
52-week602
₹643.70
920
Above low+6.9%
Below high30.0%
Range position13%
Open664.90
Prev Close664.90
Bid643.67100
Ask643.73100

TODAY IN ONE LINE

ICEMAKE dropped 3.2% on light volume, lagging Nifty's -1.1% move, with no exchange filing today, suggesting a market-driven move.

With a market cap of ₹1,163.33 Cr., it trades at a P/E of 84.57. Track live valuations, technical indicators, and peers comparison below. Check delivery conviction and recent filings to build your view.

Volume8.8K−64%vs 20D avg
Price Band20
Lower Band533.8
Upper Band800.7
Tick Size0.05
Daily Volatility2.48%
Annualised Vol47.38%
Market Cap₹1,163.33 Cr.
Promoter64.52%
Face Value₹10
Fwd P/E—
PEG2.22
EV/EBITDA47.02
P/S1.43
ROA4.05%
Beta0.88
Div Payout29.11%
THE STOCK SCORE
Overall Score36/100
Updated 19 Oct

How good is this company?

Overall performance across 5 key dimensions.

Each card tappable → shows formula + inputs
FLAGS & NEWS

ICE MAKE REFRIGERAT flags & news 

Key strengths, potential risks, and recent updates.

✅ 2 green flags🚩 5 red flags

Green Flags

  • ●High Promoter HoldingPromoters hold 64.5% skin-in-the-game
  • ●Zero Pledge RiskNo recent active promoter pledging found

Red Flags

  • ●Earnings DeclineEPS (TTM) has contracted by 13.6% YoY
  • ●Poor Capital ReturnsLow ROE of 8.0%
  • ●Negative EarningsCompany is reporting negative EPS of ₹-1.04 (Loss Making)
  • ●Promoter SellingPromoter holding decreased by 9.68% QoQ
  • ●Rising Receivables vs SalesReceivables grew 47.8% outpacing sales growth of 26.7%

Latest ICE MAKE REFRIGERAT News

THE CHANGELOG

What changed recently?

Recent events, corporate actions, and announcements.

No recent changes found for this period.
🔒Prime: full history + alerts on this stock
Valuation

ICE MAKE REFRIGERAT valuation: P/E, P/B and sector benchmarks.

Twelve years of multiples investors have paid for ICE MAKE REFRIGERAT, framed against the sector median so the premium or discount is obvious at a glance.

ICE MAKE REFRIGERAT trades at a P/E of 84.57× and P/B of 7.61×.

Key MetricsMarket + reported · 19 Oct 2026Consolidated

Market-priced ratios use the latest available quote; accounting metrics use the latest reported filing. Compare values with matched peers and the company's own history.

Valuation

Valuation

Market Cap
₹1,163.33 Cr.
P/E Ratio
84.57
P/B Ratio
7.61
EPS
₹-1.04
Profitability

Profitability

ROE
8.01%
ROCE
7.12%
Net Margin
1.82%
Op Margin
4.06%
Growth

Growth

EPS YoY
-13.6%
Revenue YoY
41.9%
Qtr Sales
—
Qtr Profit
—
Financial Health

Financial Health

Debt / Equity
1.1
Book Value
₹84.04
Div Yield
—
Promoter Holding
64.52%
Technicals

ICE MAKE REFRIGERAT technical analysis: indicators, pivots and CPR.

Latest RSI, MACD and moving-average signals plus the latest pivot and Central Pivot Range levels for ICE MAKE REFRIGERAT — derived from the latest tape, not yesterday's close.

ICE MAKE REFRIGERAT last traded at ₹643.7 with an intraday range of ₹641.05–₹678.95 — latest indicator, pivot and CPR signals below.

Last updated: 20 October 2026, 4:08 pm IST

Pivot points

Standard pivot — most widely referenced.

Pivot levels · Classic

Last: ₹643.70
LevelPrice (₹)Distance% Δ
R4743.88+100.18+15.56%
R3705.98+62.28+9.68%
R2692.47+48.77+7.58%
R1668.08+24.38+3.79%
PIVOT654.5710.871.69%
CURRENT643.70——
S1630.18-13.52-2.10%
S2616.67-27.03-4.20%
S3592.28-51.42-7.99%
S4554.38-89.32-13.88%
CPR Levels
Support
Resistance
S4
S3
S2
S1
| CPR |
BC: 649.13P: 654.57TC: 660.00
R1
R2
R3
R4
indicator
LTP: 643.70
PDH: 669.50
PDL: 656.05
● Market Sentiment

ICEMAKE is trading Below CPR, indicating Bearishness

● CPR Width

CPR is Wider, suggesting unlikely for trending moves

● Opening Range

Day's range: ₹658.6–₹678.95

● Price Position

Trading Below opening range, showing Bearishness

Financials

ICE MAKE REFRIGERAT financials: P&L, balance sheet, cash flow, ratios.

Reported annual and quarterly results for ICE MAKE REFRIGERAT — consolidated or standalone — with margins, YoY growth and key ratios inline.

ICE MAKE REFRIGERAT reports its full P&L, balance sheet, cash flow and ratios on this page — current market capitalisation of ₹1,163.33 Cr. and reported EPS of ₹-1.04.

iTap any row for a plain-English meaning▲▼Change vs a year ago — green means the move is healthy for that line, red means it isn’tDerivedCalculated by us, not reported directly
Mobile view
Latest vs previous year
MetricMar 2026May 2026
Revenue from Operations668
668
▲ 0.0%
Sales Growth YoY %Derived39.35%
—
Other Income1
1
▲ 0.0%
Total Income669
669
▲ 0.0%
474
474
▲ 0.0%
Gross ProfitDerived194
194
▲ 0.0%
Gross Margin %Derived29.07%
29.07%
149
149
▲ 0.0%
EBITDA (Operating Profit)Derived45
45
▲ 0.0%
OPM %Derived6.78%
6.78%
30
30
▲ 0.0%
Profit Before Tax (PBT)16
16
▲ 0.0%
4
4
▲ 0.0%
Effective Tax %Derived25.99%
25.99%
Total Profit for Period12
12
▲ 0.0%
Less: Non-controlling Interests-0
-0
▲ 0.0%
Net Profit (Owner's PAT)Derived12
12
▲ 0.0%
Net Profit Margin %Derived1.82%
1.82%
PAT Growth YoY %Derived-47.25%
—
Earnings Per Share (EPS ₹)7.73
7.73
▲ 0.0%
Diluted Shares Outstanding (Cr)2
2
▲ 0.0%
Other Comprehensive Income (Net of Tax)0
0
▲ 0.0%
Total Expenses (incl. D&A & Interest)653
653
▲ 0.0%
Material Cost % of RevenueDerived73.99%
73.99%
Employee Cost % of RevenueDerived5.48%
5.48%
Other Cost % of RevenueDerived16.81%
16.81%
Interest Coverage (x)Derived2.24x
2.24x
Sales CAGR · 3Y
+11.7%
Sales CAGR · 5Y
+12.0%
PAT CAGR · 3Y
-19.2%
PAT CAGR · 5Y
-14.2%
all values in ₹ Cr unless marked % / x / ₹ · fiscal-period end shown · reported figures via Stockezee financials API · annual results may be audited; quarterly results may be unaudited or limited-review
Segment Analysis

ICE MAKE REFRIGERAT segment analysis : revenue and profit mix.

Disclosed business segments at ICE MAKE REFRIGERAT with their share of revenue and profit, switchable between consolidated and standalone reporting.

ICE MAKE REFRIGERAT discloses revenue and profit across multiple business segments — toggle between consolidated and standalone views to see the mix.

Segment-wise Financial Analysis

Thesis

The Bull, Bear, and Flip case for ICE MAKE REFRIGERAT.

Our AI distills the core fundamental drivers supporting ICE MAKE REFRIGERAT, the risks that threaten it, and the quantitative conditions that could weaken the thesis.

ICE MAKE REFRIGERAT's investment case rests on 0 positive markers and 1 flagged concerns drawn from the latest reported filings.

bull case

What you're getting.

No strengths or opportunities on record.

bear case

Key Risks.

  • SWOT generation temporarily unavailable due to model error. Bedrock invocation timeout

flip conditions

Flip Conditions.

  • Valuation risk. a P/E above 110 would leave less room for earnings disappointment.

  • Reassess if quarterly profit growth turns negative for two consecutive quarters. The bull case relies on compounding earnings.

  • Watch interest coverage if debt-to-equity climbs above 1.60. Balance sheet risk re-prices growth multiples fast.

  • Return-quality risk. ROE below 8% would indicate weaker capital compounding.

Shareholding

ICE MAKE REFRIGERAT shareholding pattern: promoters, FII, DII and public.

Quarter-on-quarter ownership shifts in ICE MAKE REFRIGERAT — who is buying, who is exiting, and which institutions hold the largest positions.

Shareholding Pattern

Annual • Sep 2026

DII0.25%↓1.13%
FII0.03%↓0.28%
Public35.20%↑11.09%
Promoters64.52%↓9.68%

Ownership Distribution

Domestic Institutions
0.25%
Foreign Institutions
0.03%
Retail & Public
35.20%
Promoters
64.52%

Category Trends

Foreign Institutions Breakdown
Total Holding: 0.03%
Net Change: -0.28%
Category Total0.03%
Total Holding0.03%
Net Change-0.28%
Aggregate Data
Institution Name
Trend (Last 6)
Holding %
QoQ Change
YoY ChangePeriod

Foreign Institutions: 0.03%

Individual institutional breakdown is not disclosed by the company, but aggregate holding data is shown above.

💡 This category has 0.03% total holding without detailed institution-wise disclosure
Peers

ICE MAKE REFRIGERAT peer comparison — same-sector benchmarks.

Same-sector listed peers ranked on P/E, market cap, dividend yield and growth — ICE MAKE REFRIGERAT is highlighted for quick read-across.

Quick Compare

Largest by Market Cap
TATA MOTORS
₹1.54 Lakh Cr
Best Profit Growth
BEEKAY STEEL INDS.
289.45 %
Highest Dividend Yield
SRIKPRIND
3.85 %

Peer Comparison

Company Name
09 · Chart Patterns

ICE MAKE REFRIGERAT chart patterns: breakouts, tops and bottoms.

Auto-detected classical chart patterns for ICE MAKE REFRIGERAT — Double Top/Bottom, Head & Shoulders, Triple Bottom and more — with break levels, targets and quality scores across Intraday, Daily and Weekly timeframes.

Delivery Conviction

ICE MAKE REFRIGERAT delivery volume — last 20 sessions of conviction.

Daily traded volume and delivery percentage for ICE MAKE REFRIGERAT over 20 sessions — the gap between intraday flipping and genuine accumulation.

Latest session delivery in ICE MAKE REFRIGERAT stood at 49.8% of traded volume, against a 20-day average of 56.0%.

Avg Delivery (20D)56%-6.2 ppt latest vs avg
Highest Delivery74.8%on 24 Sept
Avg Volume (20D)24.2 K20-day run-rate
Conviction Trend↓ Weakening-6.2 ppt latest read
Volume & Delivery · last 20 sessions
Exchange Filings & Investor Updates

ICE MAKE REFRIGERAT announcements: results, concalls, ratings, M&A.

Filings ICE MAKE REFRIGERAT sent to the exchanges, sequenced as they hit the tape — concall transcripts, results, credit ratings and presentations.

ICE MAKE REFRIGERAT files concall transcripts, results, credit ratings and corporate-action notices on the NSE and BSE exchange portals — latest 96 documents below.

  1. 10 Oct 2026Certificate under SEBI (Depositories and Participants) Regulations, 2018View PDF

    Certificate under SEBI (Depositories and Participants) Regulations, 2018

    Ice Make Refrigeration Limited has informed the Exchange about Certificate under SEBI (Depositories and Participants) Regulations, 2018

  2. 30 Sept 2026AppointmentView PDF

    Appointment

    Ice Make Refrigeration Limited has informed the Exchange regarding Appointment of Vipul Patel as Managing Director of the company w.e.f. September…

  3. 30 Sept 2026AppointmentView PDF

    Appointment

    Ice Make Refrigeration Limited has informed the Exchange regarding Appointment of Rajendra Patel as Managing Director of the company w.e.f.…

  4. 30 Sept 2026AppointmentView PDF

    Appointment

    Ice Make Refrigeration Limited has informed the Exchange regarding Appointment of Chandrakant Patel as Managing Director of the company w.e.f.…

  5. 30 Sept 2026Shareholders meetingView PDF

    Shareholders meeting

    Ice Make Refrigeration Limited has submitted the Exchange a copy Srutinizers report of Annual General Meeting held on September 30, 2026. Further,…

Corporate Actions

ICE MAKE REFRIGERAT dividend history, splits and bonus issues.

Every dividend, stock split and bonus issue ICE MAKE REFRIGERAT has declared, sequenced by announce and record date.

ICE MAKE REFRIGERAT corporate-action history below covers all declared dividends, stock splits and bonus issues recorded with NSE and BSE.

Insider Activity

ICE MAKE REFRIGERAT insider trading: promoter and management activity.

Promoter, director and designated-employee transactions in ICE MAKE REFRIGERAT as reported to SEBI — buying and selling signals from the people who know the business best.

ICE MAKE REFRIGERAT insider activity below tracks 6 reported promoter, director and designated-employee transactions under SEBI Regulation 7(2).

InsiderCategoryTxn DateActionQuantityValue (₹)Price
POPATBHAI LALJIBHAI PATELInsider05 Mar 2026buy+2.4 K₹20.01 L₹828.79
POPATBHAI LALJIBHAI PATELInsider04 Mar 2026buy+7.5 K₹60.55 L₹811.33
POPATBHAI LALJIBHAI PATELInsider09 Jun 2025sell−1.5 K₹12.42 L₹828.17
RAMILABEN CHANDRAKANTBHAI PATELInsider26 Mar 2025sell−2.2 K₹19.22 L₹873.75
RAMILABEN CHANDRAKANTBHAI PATELInsider24 Mar 2025sell−651₹5.96 L₹915.98
RAMILABEN CHANDRAKANTBHAI PATELInsider21 Mar 2025sell−9.0 K₹82.55 L₹917.22
About the Company

About ICE MAKE REFRIGERAT: business, sector, key facts.

What ICE MAKE REFRIGERAT does, where it operates, the people running it, and the numbers that describe the entity behind the ticker.

ICE MAKE REFRIGERAT operates in the Industrial Products industry under the Capital Goods sector, listed as NSE: ICEMAKE.

ICEMAKE
Capital Goods

ICE MAKE REFRIGERAT

NSE · ICEMAKE·www.icemakeindia.com

Ice Make Refrigeration Limited is a prominent Indian manufacturer and supplier of a wide range of refrigeration products and equipment. Their business model centers on providing comprehensive cooling solutions tailored to diverse industrial needs. They cater to a substantial market segment, serving clients across various sectors, indicating a robust and diversified business strategy.

The company's product portfolio is extensive and spans multiple categories, ensuring they can meet a broad spectrum of refrigeration requirements. This includes cold rooms and storage solutions, crucial for preserving perishable goods; commercial refrigeration units for businesses like restaurants and supermarkets; and industrial refrigeration systems for large-scale operations.

Beyond these core offerings, Ice Make also provides transport refrigeration, a vital component for maintaining the cold chain during product transportation, and specialized ammonia refrigeration products. This demonstrates a commitment to technological advancement and meeting the diverse needs of different clients and applications.

Ice Make's customer base is incredibly diverse, showcasing the adaptability and wide-ranging applicability of their products. They cater to industries as varied as dairy and ice cream production, food processing, agriculture, pharmaceuticals, cold chain logistics, hospitals, hospitality, and retail. This broad customer base significantly reduces their reliance on any single sector, mitigating risk and promoting stable growth.

The company's commitment to customization is a key differentiator. By providing tailored cooling solutions, Ice Make ensures its products precisely meet the specific needs of each client, thereby enhancing customer satisfaction and loyalty. This approach allows them to compete effectively in a potentially crowded marketplace.

Ice Make operates under multiple brand names, including Ice Make, Bharat, and TransFreez, potentially signifying a targeted approach to different market segments or product lines. Furthermore, their export activities underscore their ambitions to expand their market reach beyond India's borders, showcasing a proactive internationalization strategy.

Founded in 1989 and headquartered in Gandhinagar, India, Ice Make Refrigeration Limited has a long history in the industry, suggesting significant experience and established expertise in refrigeration technology and market understanding. Their continued success demonstrates a strong track record and a resilient business model within a competitive market.

company facts
Employees—
SectorCapital Goods
HeadquartersGandhinagar, India
Market Cap₹1,163.33 Cr.
Listed OnNSE
leadership21 on record
Dr. Hasmukh Patel
Non-Executive Independent Director
Mr. Ankit Patel
Chief Financial Officer
Mr. Ankit P. Patel
Chief Financial Officer
Mr. Chandrakant Patel
Chairman of the Board, Managing Director
Mr. Chandrakant Popatbhai Patel
Co-Founder, Chairman & MD
Mr. Deep Rajendrabhai Patel
Product Head of Continuous PU/PIR Sandwich Panels
Mr. Deep Rajendrabhai Patel
Product Head of Continuous Sandwich Panels Division
Mr. Devarsh Chandrakantbhai Patel
Divisional Head of Commercial Refrigeration Division
Mr. Harshadrai Pandya
Non-Executive Independent Director
Mr. Hiren Limbachiya
HR Head
Mr. Ketul Vipulbhai Patel
Divisional Head of Ref. Van & Cold Room
Mr. Krishnakant Patel
Non-Executive Independent Director
§ ∞ · Plainly Answered

Questions investors ask about ICE MAKE REFRIGERAT (ICEMAKE).

Quick answers grounded in this page's data — price action, fundamentals, ratios and ownership.

01What is the current share price of ICE MAKE REFRIGERAT (ICEMAKE)?

The current share price of ICE MAKE REFRIGERAT (ICEMAKE) is ₹643.70. Today, the stock has declined by ₹21.20 (3.19%), trading in a range of ₹641.05 to ₹678.95. The stock opened at ₹664.90 with a trading volume of 8,779 shares.

02Is ICE MAKE REFRIGERAT stock a good investment for long-term?

ICE MAKE REFRIGERAT can be considered for long-term investment based on several factors. The company has a market capitalization of ₹1,163.33 Cr., P/E ratio of 84.57, ROE of 8.01%, and ROCE of 7.12%. The dividend yield stands at 0%. However, investment decisions should be based on your financial goals, risk appetite, and thorough research. It's recommended to consult with a SEBI-registered financial advisor before making investment decisions.

03What is the 52-week high and low price of ICE MAKE REFRIGERAT stock?

The 52-week high price of ICE MAKE REFRIGERAT (ICEMAKE) is ₹920.00, while the 52-week low is ₹602.00. Currently trading at ₹643.70, the stock is 6.93% above its 52-week low and 30.03% below its 52-week high. These levels help investors understand the stock's price volatility and trading range over the past year.

04Should I buy ICE MAKE REFRIGERAT stock at the current price?

Whether to buy ICE MAKE REFRIGERAT stock at ₹643.70 depends on multiple factors. The stock is currently trading with a P/E ratio of 84.57 and P/B ratio of 7.61. Today's performance shows a loss of 3.19%. Consider analyzing the company's fundamentals, technical indicators, industry trends, and your investment horizon. Compare these metrics with industry peers and consult a financial advisor for personalized advice.

05What is the dividend yield of ICE MAKE REFRIGERAT and when is the next dividend?

ICE MAKE REFRIGERAT offers a dividend yield of 0%, which means for every ₹100 invested at the current price of ₹643.70, you can expect to receive approximately ₹0.00 annually as dividends. The face value of the stock is ₹10.00. For information about the next dividend announcement and ex-dividend date, please check the company's official announcements or visit the BSE/NSE websites.

06What are the key financial ratios and metrics of ICE MAKE REFRIGERAT?

ICE MAKE REFRIGERAT's key financial metrics include: P/E Ratio: 84.57, P/B Ratio: 7.61, ROE: 8.01%, ROCE: 7.12%, Dividend Yield: 0%, EPS: ₹-1.04, Book Value: ₹84.04, and Debt-to-Equity: 1.1. The company's market cap stands at ₹1,163.33 Cr.. These metrics help evaluate the company's valuation, profitability, and financial health.

07How is ICE MAKE REFRIGERAT stock performing today in the market?

ICE MAKE REFRIGERAT stock opened at ₹664.90 and is currently trading at ₹643.70, showing a decline of ₹21.20 (3.19%). The intraday high is ₹678.95 and low is ₹641.05. The trading volume stands at 8,779 shares, indicating moderate market participation today.

08What is the P/E ratio of ICE MAKE REFRIGERAT and what does it indicate?

ICE MAKE REFRIGERAT has a Price-to-Earnings (P/E) ratio of 84.57, which means investors are willing to pay 84.57 for every ₹1 of earnings. With an EPS of ₹-1.04, this P/E ratio suggests the stock may be trading at a premium, possibly due to high growth expectations. Compare this with industry peers and historical P/E ratios for better context.

Disclaimer

The data, ratios and commentary about ICE MAKE REFRIGERAT (ICEMAKE) on this page are published for educational and informational purposes only and are not investment, legal or tax advice. StockeZee is not a SEBI-registered investment adviser, research analyst or portfolio manager, and no content here should be construed as a recommendation to buy, hold or sell any security. Live and historical market data may be delayed, revised by the exchanges, or contain errors; figures sourced from third-party feeds and corporate disclosures may not always be current. Past performance is not indicative of future results, and equity investments carry the risk of capital loss. Before acting on anything you read here, please consult a SEBI-registered financial advisor and read all scheme-related documents carefully.