Strong Revenue GrowthMulti-year revenue growth near 35% indicates durable demand expansion or market-share gains. Sustained top-line growth supports reinvestment in capacity and distribution, enables scale economies, and provides a reliable foundation for longer-term margin and earnings improvement.

Improving Gross MarginsSignificant improvement in gross profit margins reflects better cost management or favorable product mix. Higher gross margins are a structural advantage that can absorb input-cost volatility, support operating-margin expansion if SG&A is controlled, and increase long-run profitability resilience.

Strong Operating Cash GenerationRising operating cash flow and a strong OCF-to-net-income ratio show the business converts earnings into cash reliably. Durable cash generation supports working capital needs, funds strategic capex or selective investments, and reduces dependence on short-term external financing.

Bears Say

Net Profit Margin VolatilityVolatile and recently declining net margins point to structural pressure on bottom-line conversion from rising operating costs, pricing or one-offs. Persistent margin swings impair retained-earnings growth, complicate forecasting, and weaken the company’s ability to self-fund expansion over months.

Rising LeverageAn increase in debt-to-equity reduces financial flexibility and raises interest-cost sensitivity. Higher leverage elevates refinancing and liquidity risk if funding conditions tighten, constraining strategic options and making returns more vulnerable to cyclical downturns over the medium term.

Negative Free Cash Flow / Capex ReliancePersistent negative free cash flow driven by heavy capex means reliance on external financing. Over several months this limits ability to deleverage or return capital, increases exposure to funding-market volatility, and raises execution risk if invested projects underperform.

Ice Make Refrigeration Ltd. News

Ice Make Refrigeration Announces Financial Results and Strategic Appointments

Ice Make Refrigeration Ltd. ( ($IN:ICEMAKE) ) just unveiled an update. Ice Make Refrigeration Ltd. announced the approval...

7M ago

Ice Make Refrigeration Announces Financial Results and AGM Details

An update from Ice Make Refrigeration Ltd. ( ($IN:ICEMAKE) ) is now available. Ice Make Refrigeration Ltd. announced...

7M ago

ICEMAKE FAQ

What was Ice Make Refrigeration Ltd.’s price range in the past 12 months?

Ice Make Refrigeration Ltd. lowest stock price was ₹592.00 and its highest was ₹1088.75 in the past 12 months.

What is Ice Make Refrigeration Ltd.’s market cap?

Ice Make Refrigeration Ltd.’s market cap is ₹12.79B.

When is Ice Make Refrigeration Ltd.’s upcoming earnings report date?

Ice Make Refrigeration Ltd.’s upcoming earnings report date is Jun 03, 2026 which is in 99 days.

How were Ice Make Refrigeration Ltd.’s earnings last quarter?

Ice Make Refrigeration Ltd. released its earnings results on Feb 14, 2026. The company reported ₹0.934 earnings per share for the quarter, beating the consensus estimate of N/A by ₹0.934.

Is Ice Make Refrigeration Ltd. overvalued?

According to Wall Street analysts Ice Make Refrigeration Ltd.’s price is currently Overvalued. Get more investment ideas with TipRanks Premium

Does Ice Make Refrigeration Ltd. pay dividends?

Ice Make Refrigeration Ltd. pays a Annually dividend of ₹2.25 which represents an annual dividend yield of 0.28%. See more information on Ice Make Refrigeration Ltd. dividends here

What is Ice Make Refrigeration Ltd.’s EPS estimate?

Ice Make Refrigeration Ltd.’s EPS estimate for its next earnings report is not yet available.

How many shares outstanding does Ice Make Refrigeration Ltd. have?

Ice Make Refrigeration Ltd. has 15,779,735 shares outstanding.

What happened to Ice Make Refrigeration Ltd.’s price movement after its last earnings report?

Ice Make Refrigeration Ltd. reported an EPS of ₹0.934 in its last earnings report, beating expectations of N/A. Following the earnings report the stock price went up 2.637%.

Which hedge fund is a major shareholder of Ice Make Refrigeration Ltd.?

Currently, no hedge funds are holding shares in IN:ICEMAKE

What is the TipRanks Smart Score and how is it calculated?

Smart Score combines eight research factors - such as analyst recommendations, hedge fund trends, and technical indicators - to measure a stock’s outlook. These signals are unified into a single score that reflects bullish or bearish momentum. See detailed methodology

Company Description

Ice Make Refrigeration Ltd.

Ice Make Refrigeration Limited manufactures and supplies refrigeration products and equipment in India. The company offers its products under the categories of cold rooms and storage, commercial refrigeration, industrial refrigeration, transport refrigeration, and ammonia refrigeration products. It provides customized cooling solutions to various industries, including hospitality, frozen, dairy, horticulture, medicare, pharmaceuticals, retail, plastic, chemical, beverages, mineral water, ice cream, bakery, and other industries. The company also exports its products. Ice Make Refrigeration Limited was founded in 1989 and is based in Gandhinagar, India.