Ice Make Refrigeration quarterly results and financials

Ice Make Refrigeration (ICEMAKE)₹681.10−2.62%(9 Nov 2026 close)Industrial Products

Key facts

In the Jun 2026 quarter (consolidated), Ice Make Refrigeration reported sales of ₹179 Cr, up 60.4% from Jun 2025, and net profit of −₹1.65 Cr. For the year to Mar 2026, sales were ₹668 Cr and net profit ₹12.01 Cr.

Sales (Jun 2026): ₹179 Cr
Net profit (Jun 2026): −₹1.65 Cr
Sales (FY Mar 2026): ₹668 Cr
Net profit (FY Mar 2026): ₹12.01 Cr
EPS (Jun 2026): ₹−1.05
Borrowings (Mar 2026): ₹157 Cr

Company filings, consolidated accounts; latest reported quarter Jun 2026

Ice Make Refrigeration quarterly results

₹ crore unless stated; each column is a quarter.

Ice Make Refrigeration Quarterly results
	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Sales	76.88	82.41	140	85.17	103	111	180	111	148	153	256	179
Expenses	69.19	78.00	119	79.03	94.65	104	159	107	138	143	234	175
Operating Profit	7.59	4.31	20.73	6.05	8.47	6.68	21.43	4.41	9.63	9.91	21.43	2.99
OPM %	9.8%	5.2%	14.8%	7.1%	8.2%	6.0%	11.8%	4.0%	6.5%	6.4%	8.4%	1.7%
Other Income	0.12	0.09	0.22	0.09	0.11	0.21	0.45	0.12	0.08	0.12	0.37	0.10
Interest	0.71	0.67	0.53	0.46	0.91	1.16	1.64	2.30	2.74	3.86	3.73	3.28
Depreciation	1.00	1.02	1.06	0.94	1.03	2.14	4.15	4.07	4.19	4.27	4.48	2.04
Profit before tax	5.99	2.70	19.31	4.73	6.62	3.58	16.04	−1.83	2.76	1.89	13.54	−2.22
Tax %	25.1%	25.4%	26.2%	22.9%	27.7%	22.0%	27.3%	−20.2%	27.0%	23.6%	25.3%	−26.1%
Net Profit	4.48	2.01	14.27	3.63	4.78	2.82	11.66	−1.46	2.02	1.46	10.13	−1.65
EPS (Rs)	2.87	1.27	9.07	2.36	3.06	1.81	7.43	−0.91	1.30	0.94	6.42	−1.05

Ice Make Refrigeration profit and loss

₹ crore unless stated; years end in March. TTM is the last four quarters.

Ice Make Refrigeration Profit and loss
	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
Sales	88.04	103	132	138	135	206	312	378	480	668	735
Expenses	77.82	89.83	118	125	124	192	279	337	436	622	690
Operating Profit	10.02	13.02	14.03	13.01	10.02	14.03	32.07	41.07	43.08	45.09	43.96
OPM %	11.0%	12.0%	10.0%	9.0%	8.0%	7.0%	10.0%	11.0%	9.0%	7.0%	6.0%
Other Income	0.00	0.00	0.00	0.00	0.99	0.99	0.99	0.99	0.99	0.99	0.67
Interest	1.01	2.01	1.01	2.01	2.01	2.01	1.01	2.01	4.01	13.02	13.61
Depreciation	1.99	1.99	1.99	2.99	3.99	3.99	3.99	3.99	7.98	16.95	14.98
Profit before tax	6.98	9.99	10.98	7.99	4.99	9.98	27.98	34.97	30.97	15.98	15.97
Tax %	32.0%	31.9%	28.9%	25.9%	32.0%	24.9%	25.9%	26.0%	25.9%	26.0%	—
Exceptional items	0.00	−0.02	0.00	0.02	0.00	0.04	0.02	0.04	−0.06	0.00	—
Net Profit	4.99	7.01	6.99	6.01	3.99	6.99	20.98	26.01	22.99	12.01	11.96
EPS (Rs)	6.96	4.24	4.78	3.65	2.31	4.67	13.19	16.65	14.66	7.74	7.61
Dividend payout %	0.0%	24.0%	25.1%	33.1%	52.0%	26.0%	14.0%	12.1%	15.1%	29.1%	—

Ice Make Refrigeration balance sheet

₹ crore, at each year end.

Ice Make Refrigeration Balance sheet
	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	6.97	15.96	15.95	15.97	15.96	15.95	15.95	15.94	15.96	15.95
Reserves	8.01	29.02	34.02	37.99	41.01	45.98	65.03	87.98	108	117
Borrowings	14.96	9.96	2.99	16.96	9.96	10.97	4.99	26.93	85.79	157
Other Liabilities	25.06	27.03	29.11	34.16	42.01	52.19	72.95	80.22	158	213
Total Liabilities	55.00	80.97	83.07	105	108	125	159	211	368	504
Fixed Assets	11.02	13.02	23.06	27.07	30.05	32.08	32.08	50.12	133	140
CWIP	0.00	0.99	0.00	0.00	0.99	0.00	0.00	11.96	5.98	24.89
Investments	0.00	0.00	0.00	0.00	0.00	0.00	4.99	0.00	0.00	0.00
Other Assets	43.98	67.96	60.01	78.01	76.90	93.01	122	149	229	338
Inventories	17.06	25.08	29.08	38.13	40.14	50.16	52.17	60.14	108	149
Trade receivables	15.97	21.96	21.94	25.95	24.97	33.95	53.89	64.85	93.87	153
Cash & equivalents	7.98	16.94	3.99	1.99	0.99	1.99	9.97	8.97	3.99	6.97
Total Assets	55.00	80.97	83.07	105	108	125	159	211	368	504

Ice Make Refrigeration cash flow

₹ crore, for each year.

Ice Make Refrigeration Cash flow
	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Cash from operating activity	7.99	−1.99	7.99	−0.99	11.99	7.99	23.97	9.99	29.98	−10.99
Cash from investing activity	−3.98	−3.99	−11.95	−6.98	−2.99	−4.98	−13.96	−22.93	−82.67	−39.89
Cash from financing activity	0.00	16.05	−10.03	6.02	−9.04	−3.01	−9.03	17.06	49.18	52.14
Net cash flow	2.99	10.96	−12.95	−1.99	0.00	0.00	0.99	3.99	−4.99	0.99
Capex	3.86	5.01	11.25	7.69	4.91	4.04	3.78	33.07	82.42	39.99
Free cash flow	3.99	−6.99	−2.99	−8.99	6.99	3.99	20.97	−22.98	−51.93	−49.99
CFO / OP %	94.9%	14.0%	87.0%	12.0%	140.0%	73.9%	96.9%	47.0%	90.9%	−8.0%

Ice Make Refrigeration ratios

Working-capital days and returns, by year.

Ice Make Refrigeration Ratios
	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Debtor days	67	79	61	70	69	61	64	64	73	85
Inventory days	114	135	121	156	161	123	86	84	118	114
Days payable	110	97	86	93	104	84	85	77	122	109
Cash conversion cycle	72	117	97	133	126	101	65	72	70	90
Working capital days	9	52	64	62	69	53	43	48	21	23
ROCE %	—	27.0%	22.0%	15.0%	10.0%	17.0%	37.0%	34.0%	21.0%	12.0%

Ice Make Refrigeration: frequently asked questions

What are the latest quarterly results of Ice Make Refrigeration?

For the Jun 2026 quarter, Ice Make Refrigeration reported sales of ₹179 Cr, up 60.4% year on year and net profit of −₹1.65 Cr. The operating margin was 1.7%.

What is the annual revenue of Ice Make Refrigeration?

Ice Make Refrigeration's sales for the year to Mar 2026 were ₹668 Cr; over the last twelve months they were ₹735 Cr.

What is the net profit of Ice Make Refrigeration?

Net profit for the year to Mar 2026 was ₹12.01 Cr, and ₹11.96 Cr over the last twelve months. Earnings per share over the same trailing period were ₹7.61.

How much debt does Ice Make Refrigeration have?

Ice Make Refrigeration reported borrowings of ₹157 Cr at Mar 2026, against cash and equivalents of ₹6.97 Cr.

What is the free cash flow of Ice Make Refrigeration?

Cash from operations was −₹10.99 Cr in the year to Mar 2026; after capital spending, free cash flow was −₹49.99 Cr.

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