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Ice Make Refrigeration Ltd. (IN:ICEMAKE)
:ICEMAKE
India Market
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Ice Make Refrigeration Ltd. (ICEMAKE) Price & Analysis

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ICEMAKE Stock Chart & Stats

₹794.00
₹9.20(1.22%)
At close: 4:00 PM EST
₹794.00
₹9.20(1.22%)

Bulls Say, Bears Say

Bulls Say
Sustained Revenue GrowthConsistent double-digit top-line growth, including 32.1% in FY2026, indicates durable end-market demand and successful commercial scale-up. Over 2–6 months this supports better capacity utilization, pricing leverage potential and opportunities to deepen market share as the company expands presence.
Positive Return On EquityROE remaining positive (~9.2%) shows the business still generates returns on shareholder capital despite deterioration. That persistent capacity to earn on equity supports reinvestment and indicates the core business retains productive asset economics versus firms unable to cover cost of capital.
Growing Equity BaseAn increasing equity base strengthens the capital structure and provides a foundation for funding expansion without full reliance on debt. Even though debt rose faster, equity growth reduces relative dilution risk and supports longer-term financing options and investor confidence in balance-sheet resilience.
Bears Say
Margin CompressionA sharp decline in gross and net margins materially weakens earnings quality and the firm's ability to convert revenue into profit. Persistently lower margins reduce internal cash generation, limit reinvestment capacity, and increase vulnerability to cost inflation or competitive price pressure over the medium term.
Rising LeverageRapid increase in leverage to ~1.19x raises interest and refinancing risk and reduces financial flexibility. Higher debt levels constrain strategic options, amplify earnings volatility from interest costs, and make the company more exposed to macro or industry slowdowns over the next several quarters.
Weak Cash GenerationNegative operating and free cash flow over multiple years signals the core business is not self-funding growth and likely relies on external financing. That elevates liquidity and funding risk, may force higher borrowing or equity funding, and limits the company's ability to sustain capex or working-capital needs long term.

ICEMAKE FAQ

What was Ice Make Refrigeration Ltd.’s price range in the past 12 months?
Ice Make Refrigeration Ltd. lowest stock price was ₹660.30 and its highest was ₹920.00 in the past 12 months.
    What is Ice Make Refrigeration Ltd.’s market cap?
    Ice Make Refrigeration Ltd.’s market cap is ₹12.48B.
      When is Ice Make Refrigeration Ltd.’s upcoming earnings report date?
      Ice Make Refrigeration Ltd.’s upcoming earnings report date is Aug 06, 2026 which is in 33 days.
        How were Ice Make Refrigeration Ltd.’s earnings last quarter?
        Ice Make Refrigeration Ltd. released its earnings results on May 29, 2026. The company reported ₹6.41 earnings per share for the quarter, beating the consensus estimate of N/A by ₹6.41.
          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 ₹6.41 in its last earnings report, beating expectations of N/A. Following the earnings report the stock price went down -4.821%.
                  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 (ICEMAKE.NS), an Indian firm headquartered in Gandhinagar, designs, manufactures, and supplies a comprehensive range of refrigeration products and cooling equipment. Their extensive portfolio encompasses solutions for cold rooms and dedicated storage, commercial and industrial applications, transport refrigeration, and ammonia-based cooling systems. The company provides tailor-made temperature control solutions to a diverse clientele across numerous sectors. These include the hospitality, food processing (e.g., frozen goods, dairy, ice cream, bakery, beverages, mineral water), healthcare (medicare, pharmaceuticals), agriculture (horticulture), retail, and various manufacturing industries (plastic, chemical). Established in 1989, Ice Make Refrigeration also engages in the export of its products.

                    Ice Make Refrigeration Ltd. (ICEMAKE) Earnings & Revenues

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