Debut Plus

₹804.1

▼ -0.56 -0.07%

17 Jul 2026

NSE Listed

Ice Make Refrigerat Ltd. (ICEMAKE)

Volume: 41,707Avg Vol 1W: 26,311.4Avg Vol 1M: 22,380.452W Range:₹660.3₹920
NSE BSE www.icemakeindia.com
Key Ratios
Checked 4h ago
Market Cap₹1,270 Cr
Current Price₹804.1
Previous Close₹804.66
High / Low (52w)₹920 / ₹660.3
Volume41,707
Avg Vol (1W)26,311.4
Avg Vol (1M)22,380.4
Stock P/E125.53
Book Value₹84.28
Dividend Yield28%
ROE9.17%
ROA240.7%
Revenue (TTM)₹480 Cr
Revenue Growth26.7%
Profit Margin182.4%
Total Debt₹48 Cr
Shares Outstanding2 Cr
Face Value₹10
EPS (TTM)₹7.73
P/B9.55
Debt / Equity0.5
50 DMA₹779.06
200 DMA₹761.15
Day change-0.07%
Price Chart
₹804.1▼ 1.69% · 1Y
₹886₹6656.4L
2025-07-17
2026-07-16

20-day avg volume: 22K shares

Pros
  • Pays a dividend yield of 28.0%.
  • Company is almost debt-free.
Cons
  • Revenue fell 22% YoY.
  • Stock trades at a high P/E of 126.
Quarterly Results
MetricJun 2024Sept 2024Dec 2024Mar 2025Jun 2025Sept 2025Dec 2025Mar 2026
Revenue₹85 Cr₹103 Cr₹111 Cr₹180 Cr₹112 Cr₹147 Cr₹153 Cr₹256 Cr
EBITDA₹5 Cr₹8 Cr₹5 Cr₹18 Cr₹0 Cr₹6 Cr₹6 Cr₹17 Cr
Net Profit₹4 Cr₹5 Cr₹3 Cr₹12 Cr₹-1 Cr₹2 Cr₹1 Cr₹10 Cr
EPS————————
Profit & Loss (Annual)
MetricMar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Revenue₹103 Cr₹132 Cr₹138 Cr₹136 Cr₹207 Cr₹313 Cr₹379 Cr₹480 Cr
EBITDA₹12 Cr₹12 Cr₹10 Cr₹7 Cr₹12 Cr₹29 Cr₹37 Cr₹35 Cr
Net Profit₹7 Cr₹7 Cr₹6 Cr₹4 Cr₹7 Cr₹21 Cr₹26 Cr₹23 Cr
EPS5.184.763.642.314.6513.1916.6414.65
Balance Sheet
MetricMar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Total Assets₹81 Cr₹83 Cr₹101 Cr₹108 Cr₹125 Cr₹159 Cr₹211 Cr₹368 Cr
Total Liabilities₹37 Cr₹33 Cr₹48 Cr₹51 Cr₹63 Cr₹78 Cr₹107 Cr₹244 Cr
Equity₹45 Cr₹50 Cr₹54 Cr₹56 Cr₹62 Cr₹81 Cr₹104 Cr₹124 Cr
Total Debt————————
Cash Flow
MetricMar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Operating₹2 Cr₹12 Cr₹1 Cr₹14 Cr₹11 Cr₹31 Cr₹19 Cr₹39 Cr
Investing₹-4 Cr₹-11 Cr₹-7 Cr₹-3 Cr₹-5 Cr₹-14 Cr₹-23 Cr₹-83 Cr
Financing₹16 Cr₹-10 Cr₹6 Cr₹-9 Cr₹-3 Cr₹-9 Cr₹17 Cr₹49 Cr
Free Cash Flow₹2 Cr₹12 Cr₹1 Cr₹14 Cr₹11 Cr₹31 Cr₹19 Cr₹39 Cr
Shareholding
Promoter 74.2% Institutions 1.86% Public 23.94%
Efficiency & Working Capital
ROCE9.9%
Interest Coverage8.5
Dividend Payout—
Debtor Days72 d
Inventory Days82 d
Payable Days84 d
Cash Conversion Cycle70 d
Working Capital Days154 d
Shareholding Details

As of 2026-03-31

Promoter74.2%
FII0.2%
DII1.6%
Institutions1.9%
Public23.9%
Promoter Pledge0%
No. of Shareholders25,551
Shareholding Pattern

Quarterly — figures in %. Latest 12 quarters.

PeriodJun 2023Sept 2023Dec 2023Mar 2024Jun 2024Sept 2024Dec 2024Mar 2025Jun 2025Sept 2025Dec 2025Mar 2026
Promoters74.5%74.5%74.5%74.5%74.5%74.5%74.5%74.4%74.4%74.4%74.3%74.2%
FIIs0.1%0.1%0%0%0%0%0%0.3%0%0%0.1%0.2%
DIIs0%0%0%0%0%0%0%0%0%0%2%1.6%
Public25.5%25.5%25.5%25.5%25.5%25.5%25.5%25.3%25.6%25.6%23.6%23.9%
Promoter Pledge0%0%0%0%0%4.2%4.2%4.2%8%8%7.9%0%
No. of Shareholders11,56614,48119,28522,66823,22524,54324,77624,63225,65625,19424,24925,551
Returns History (ROE / ROCE / ROA)
PeriodROEROCEROAP/E
202503————
Major Shareholders (>1%)
NameCategoryStakeShares
Patel Rajendrabhai PShareholding of Promoter and Promoter Group23.5%37,03,280
Vipulbhai Ishwarbhai PatelShareholding of Promoter and Promoter Group23.2%36,55,360
Chandrakant Popatbhai PatelShareholding of Promoter and Promoter Group23%36,27,024
Popatbhai Laljibhai PatelShareholding of Promoter and Promoter Group1.5%2,36,960
Niveshay Hedgehogs FundPublic Shareholding1.5%2,36,557
Alpesh Bhaichandbhai SoniPublic Shareholding1.3%2,03,000
Ishwarbhai Laljibhai PatelShareholding of Promoter and Promoter Group0.6%96,000
Gauriben Popatbhai PatelShareholding of Promoter and Promoter Group0.5%80,000
Kantaben Ishwarbhai PatelShareholding of Promoter and Promoter Group0.5%80,000
Kapilaben Vipulbhai PatelShareholding of Promoter and Promoter Group0.5%74,000
Jyotsnaben Rajendrabhai PatelShareholding of Promoter and Promoter Group0.5%72,000
Ramilaben Chandrakantbhai PatelShareholding of Promoter and Promoter Group0.4%62,149
Manishaben Bhailal PatelShareholding of Promoter and Promoter Group0.1%20,000
Monika G PatelShareholding of Promoter and Promoter Group0%650
Gaurav G PatelShareholding of Promoter and Promoter Group0%550
Manharbhai Polabhai PatelShareholding of Promoter and Promoter Group0%0
Kantibhai K PatelShareholding of Promoter and Promoter Group0%0
Patel Ashishbhai ParsottambhaiShareholding of Promoter and Promoter Group0%0
Patel Labhuben ManharbhaiShareholding of Promoter and Promoter Group0%0
Patel Devarsh ChandrakantShareholding of Promoter and Promoter Group0%0
Ketul PatelShareholding of Promoter and Promoter Group0%0
Patel Saroj PankajbhaiShareholding of Promoter and Promoter Group0%0
Alpaben Vipulkumar PatelShareholding of Promoter and Promoter Group0%0
Rajubhai Maharbhai PatelShareholding of Promoter and Promoter Group0%0
Vidhi PatelShareholding of Promoter and Promoter Group0%0
Promoter Pledges
HolderPledged Shares% of HoldingAs of
Patel Rajendrabhai P00%2026-03-31
Vipulbhai Ishwarbhai Patel00%2026-03-31
Chandrakant Popatbhai Patel00%2026-03-31
Popatbhai Laljibhai Patel00%2026-03-31
Ishwarbhai Laljibhai Patel00%2026-03-31
Gauriben Popatbhai Patel00%2026-03-31
Kantaben Ishwarbhai Patel00%2026-03-31
Kapilaben Vipulbhai Patel00%2026-03-31
Jyotsnaben Rajendrabhai Patel00%2026-03-31
Ramilaben Chandrakantbhai Patel00%2026-03-31
Manishaben Bhailal Patel00%2026-03-31
Monika G Patel00%2026-03-31
Board of Directors
NameDesignationYear
Chandrakant P PatelChairman / Executive Director / M D / Promoter2025
Rajendra P PatelED / Joint MD / Promoter2025
Vipul I PatelED / Joint MD / Promoter2025
Darsha R KikaniIndependent Non Exe. Director2025
Harshadrai P PandyaIndependent Non Exe. Director2025
Krishnakant L PatelIndependent Non Exe. Director2025
Mandar DesaiCompany Sec. & Compli. Officer2025
Segments — Product
SegmentRevenueShare
Manufacturing of Cold Rooms, Freeze₹0 Cr—
Capital Structure (₹ Cr)
YearFace ValueAuthorisedIssuedPaid-up
2025₹10181616
Corporate Actions
TypeDateValueRemark
dividend2025-09-19₹2.25 (22.5%)Final
Related-Party Transactions (₹ Cr)
YearSubsidiariesAssociatesJVKMPOthersTotal
202532002135
202517002018
202515000116
Company Information
Incorporated2009
ChairmanChandrakant P Patel
AuditorUmesh Shah & Associates
Investor Email[email protected]
🌐 www.icemakeindia.com ↗

📍 B-1 Vasupujya Chamber, Neer Navdeep Bldg IT Cross Rod, Ahmedabad, Gujarat, 380009

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