Strong Revenue Growth & Improving Gross MarginsConsistent revenue expansion (noted across 2020–2025) combined with materially improved gross margins indicates durable demand and better cost management. This supports scalable economics and reinvestment capacity, strengthening medium-term revenue-to-profit conversion if current trends persist.

Solid Operating Cash GenerationRising operating cash flow and a strong OCF-to-net-income ratio show the core business converts sales into cash reliably. That operational cash strength underpins working capital, funds investments, and reduces reliance on short-term liquidity, providing durable financial resilience over months ahead.

Healthy Equity Base And Solid ROEA stable equity ratio and solid ROE indicate effective use of shareholder capital and a buffer against shocks. This balance-sheet strength permits continued investment and strategic flexibility, improving the company’s ability to fund growth and absorb cyclical stress over the medium term.

Bears Say

Volatile And Weakening Net Profit MarginsDeclining and volatile net margins suggest rising operating costs or pricing pressure that erode bottom-line profitability. Even with revenue growth, persistent margin compression undermines sustainable earnings power, reduces free cash flow potential, and increases sensitivity to input-cost or competitive shocks.

Rising Leverage (higher Debt-to-equity)An uptick in debt-to-equity increases fixed obligations and financial risk, limiting flexibility for opportunistic investments or cushioning downturns. Higher leverage amplifies interest and refinancing risk over the coming months, particularly if earnings or cash flows weaken.

Negative Free Cash Flow Driven By Heavy CapexPersistent negative free cash flow from sizeable capex implies dependence on external financing to sustain growth. That reliance can pressure liquidity, raise borrowing costs or dilution risk, and constrain returns if capital projects do not deliver expected cash returns within a reasonable time frame.

Ice Make Refrigeration Ltd. News

Ice Make Refrigeration to Brief Analysts and Institutions at Mumbai Investor Meet

Ice Make Refrigeration Ltd. ( ($IN:ICEMAKE) ) has shared an announcement. Ice Make Refrigeration Ltd. has announced that...

10d ago

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

ICEMAKE FAQ

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

Ice Make Refrigeration Ltd. lowest stock price was ₹666.30 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 ₹12.94B.

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 82 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.