About Ice Make Refrigeration Limited
Data last updated: 14 July 2026
Ice Make Refrigeration Limited is a public limited company based in Ahmedabad, Gujarat, India. It specialises in white goods retail and distribution, a part of the broader consumer electronics and durables sector. Incorporated on 31 March 2009, the company has been in operation for over 17 years.
Registered with ROC Ahmedabad under CIN U29220GJ2009PTC056482. Listed on NSE: ICEMAKE.
Capital: an authorised share capital of ₹20 Cr and a paid-up capital of ₹15.78 Cr. Formerly known as Ic Ice Make Refrigeration Private Limited and Ice Make Refrigeration Private Limited. It is led by directors including Darsha Kikani and Harshadrai Premshanker Pandya.
Last AGM: 27 September 2025. Financial statements filed for year ended 31 March 2025. Office: B – 1 Vasupujya Chamber Near Navdeep Building Income – Tax Cross Road, Ahmedabad, Gujarat, India – 380009.
As per NSE-filed consolidated financials for FY 2026, the company reported a revenue of ₹668.2 Cr, a growth of 39.35% compared to the previous year. The net worth stands at ₹132.61 Cr (up 7.2% YoY). Total assets are valued at ₹507.95 Cr (up 38.13% YoY).
The company has a workforce of approximately 161 employees as per the latest available data.
The company is associated with 1 brand - Ice Make Refrigeration. As per MCA filings, the company has open charges of ₹249.75 Cr and satisfied charges of ₹9.11 Cr on record.
The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website icemakeindia.com.
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Registered AddressB – 1 Vasupujya Chamber Near Navdeep Building Income – Tax Cross Road, Ahmedabad, Gujarat, India – 380009
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IndustryConsumer Electronics & Durables, White Goods Retail & Distribution
- Historical Financials and ratios
- Shareholding pattern and group structure
- Charges with holder and property details
- Litigation, compliance and MCA filings
- PDF report delivered after checkout
Name History of Ice Make Refrigeration Limited
Ice Make Refrigeration Limited has undergone 2 name changes throughout its history. The company was previously known as Ic Ice Make Refrigeration Private Limited, and Ice Make Refrigeration Private Limited. The current legal name is Ice Make Refrigeration Limited, reflecting the company's evolution and rebranding over time.
| Company Name | Status |
|---|---|
| Ice Make Refrigeration Limited | Current |
| Ic Ice Make Refrigeration Private Limited | Previous |
| Ice Make Refrigeration Private Limited | Previous |
CIN History of Ice Make Refrigeration Limited
Ice Make Refrigeration Limited has 2 previous CINs, indicating changes in the company's corporate structure or registration details. The current CIN is L29220GJ2009PLC056482, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| L29220GJ2009PLC056482 | Current |
| U29220GJ2009PTC056482 | Previous |
| U29220GJ2009PLC056482 | Previous |
Associated Brands with Ice Make Refrigeration Limited
Ice Make Refrigeration Limited operates one associated brand: Ice Make Refrigeration. These brands represent Ice Make Refrigeration Limited's diversified market presence and brand portfolio.
| Brand | Description | Website |
|---|---|---|
| Industrial refrigeration systems and related products are manufactured. | icemakeindia.com |
Business Activity of Ice Make Refrigeration Limited
Ice Make Refrigeration Limited is engaged in the principal business activity of manufacturing, with detailed activities including electrical equipment, general purpose and special purpose machinery & equipment, transport equipment.
| Main Activity Group Code | Description of Main Activity | Business Activity Code | Description of Business Activity | Turnover Percentage |
|---|---|---|---|---|
| C | Manufacturing | C10 | Electrical equipment, General Purpose and Special purpose Machinery & equipment, Transport equipment | Locked |
Business activity turnover details for Ice Make Refrigeration Limited
Turnover contribution percentages and historical activity changes require an active report plan.
- Turnover contribution
- Historical classifications
- Filing-level activity changes
Verified entity values are shown only after access is granted.
Auditor Details of Ice Make Refrigeration Limited
Ice Make Refrigeration Limited is audited by UMESHA SHA AND ASSOCIATES (ICAI peer reviewed, certificate valid till 2026-09-30) for the financial year 2026, as reported in its NSE exchange filings. The statutory auditor is responsible for expressing an independent opinion on whether the financial statements present a true and fair view in accordance with applicable accounting standards.
| Name | Financial year | Audit opinion |
|---|---|---|
| UMESHA SHA AND ASSOCIATES (ICAI peer reviewed, certificate valid till 2026-09-30) | FY 2026 | Declaration of unmodified opinion |
Board of Directors of Ice Make Refrigeration Limited
Ice Make Refrigeration Limited is currently managed by 6 directors, with 2 former directors having served the organization. The current Directors play a crucial role in shaping the company's strategic direction and governance.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
|
Darsha Kikani
Also directs:
Exxaro Tiles Limited, 20 Microns Nano Minerals Limited
|
Director | 05 Sep 2017 | 8 Years 11 Months | Current |
| Harshadrai Premshanker Pandya | Director | 05 Sep 2017 | 8 Years 11 Months | Current |
|
Chandrakant Popatbhai Patel
Also directs:
Bharat Refrigerations Private Limited, Icebest Private Limited
|
Managing Director | 31 Mar 2009 | 17 Years 4 Months | Current |
| Rajendrabhai Popatbhai Patel | Managing Director | 31 Mar 2009 | 17 Years 4 Months | Current |
|
Vipulbhai Ishwarbhai Patel
Also directs:
Bharat Refrigerations Private Limited
|
Managing Director | 31 Mar 2009 | 17 Years 4 Months | Current |
| Krishnakant Laljibhai Patel | Director | 05 Sep 2017 | 8 Years 11 Months | Current |
Financials of Ice Make Refrigeration Limited FY 2026 filings available
Ice Make Refrigeration Limited reported revenue of ₹668.2 Cr (up 39.35% YoY) for FY 2026.
| Metrics | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
| Revenue from Operations | ₹668.2 Cr | ₹479.52 Cr | ₹378.38 Cr | ₹312.21 Cr | ₹206.1 Cr | ₹134.65 Cr |
| Other Income | ₹72.35 Lakh | ₹89.8 Lakh | ₹62.1 Lakh | ₹1.12 Cr | ₹70.77 Lakh | ₹1.22 Cr |
| Total Income | ₹668.92 Cr | ₹480.42 Cr | ₹379 Cr | ₹313.33 Cr | ₹206.8 Cr | ₹135.87 Cr |
| Cost of Materials Consumed | ₹494.37 Cr | ₹343.91 Cr | ₹262.75 Cr | ₹215.82 Cr | ₹147.62 Cr | ₹94.53 Cr |
| Purchases of Stock-in-Trade | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 |
| Changes in Inventories | -₹20.41 Cr | -₹10.78 Cr | -₹3.21 Cr | ₹3.78 Cr | ₹45.78 Lakh | -₹3.65 Cr |
| Employee Benefit Expense | ₹36.62 Cr | ₹25.87 Cr | ₹19.55 Cr | ₹15.22 Cr | ₹13.08 Cr | ₹11.08 Cr |
| Finance Costs | ₹12.59 Cr | ₹4.12 Cr | ₹2.12 Cr | ₹1.25 Cr | ₹1.73 Cr | ₹1.9 Cr |
| Depreciation & Amortisation | ₹17.06 Cr | ₹8.31 Cr | ₹4.08 Cr | ₹3.91 Cr | ₹3.64 Cr | ₹4.37 Cr |
| Other Expenses | ₹112.3 Cr | ₹77.97 Cr | ₹58.52 Cr | ₹45.28 Cr | ₹30.47 Cr | ₹22.36 Cr |
| Total Expenses | ₹652.53 Cr | ₹449.4 Cr | ₹343.8 Cr | ₹285.25 Cr | ₹196.98 Cr | ₹130.59 Cr |
| Profit Before Exceptional Items & Tax | ₹16.39 Cr | ₹31.02 Cr | ₹35.2 Cr | ₹28.08 Cr | ₹9.82 Cr | ₹5.28 Cr |
| Exceptional Items | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 |
| Profit Before Tax | ₹16.39 Cr | ₹31.02 Cr | ₹35.2 Cr | ₹28.08 Cr | ₹9.82 Cr | ₹5.28 Cr |
| Total Tax Expense | ₹4.26 Cr | ₹8.11 Cr | ₹9.06 Cr | ₹7.28 Cr | ₹2.5 Cr | ₹1.67 Cr |
| Net Profit | ₹12.13 Cr | ₹22.9 Cr | ₹26.14 Cr | ₹20.8 Cr | ₹7.32 Cr | ₹3.61 Cr |
| attributable to Owners | ₹12.19 Cr | ₹23.11 Cr | ₹26.25 Cr | ₹0 | ₹0 | ₹0 |
| attributable to NCI | -₹6.2 Lakh | -₹20.62 Lakh | -₹11.78 Lakh | ₹0 | ₹0 | ₹0 |
| Other Comprehensive Income | ₹32.4 Lakh | -₹12.22 Lakh | -₹34.53 Lakh | ₹8.96 Lakh | -₹28.07 Lakh | -₹1.32 Lakh |
| Total Comprehensive Income | ₹12.45 Cr | ₹22.78 Cr | ₹25.79 Cr | ₹20.89 Cr | ₹7.04 Cr | ₹3.6 Cr |
| EBITDA (computed) | ₹46.04 Cr | ₹43.44 Cr | ₹41.39 Cr | ₹33.23 Cr | ₹15.19 Cr | ₹11.55 Cr |
| Basic EPS | ₹7.73 | ₹14.65 | ₹16.56 | ₹13.19 | ₹4.66 | ₹2.31 |
| Diluted EPS | ₹7.73 | ₹14.65 | ₹16.56 | ₹13.19 | ₹4.65 | ₹2.30 |
| Metrics | FY 2026 | FY 2025 | FY 2024 | FY 2023 |
|---|---|---|---|---|
| Total Assets | ₹507.95 Cr | ₹367.72 Cr | ₹211.38 Cr | ₹159.02 Cr |
| Non-current Assets | ₹170.32 Cr | ₹145.91 Cr | ₹71.25 Cr | ₹35.13 Cr |
| Current Assets | ₹337.63 Cr | ₹221.81 Cr | ₹140.13 Cr | ₹123.89 Cr |
| Property, Plant & Equipment | ₹131.64 Cr | ₹127.53 Cr | ₹46.93 Cr | ₹29.05 Cr |
| Inventories | ₹148.06 Cr | ₹108.08 Cr | ₹59.91 Cr | ₹51.56 Cr |
| Trade Receivables | ₹157.29 Cr | ₹93.96 Cr | ₹64.98 Cr | ₹53.56 Cr |
| Cash & Equivalents | ₹1.77 Cr | ₹37.79 Lakh | ₹5.08 Cr | ₹1.28 Cr |
| Equity (Net Worth) | ₹132.61 Cr | ₹123.71 Cr | ₹104.08 Cr | ₹81.13 Cr |
| Equity Share Capital | ₹15.78 Cr | ₹15.78 Cr | ₹15.78 Cr | ₹15.78 Cr |
| Borrowings (Non-current) | ₹79.04 Cr | ₹47.82 Cr | ₹23.56 Cr | ₹2.54 Cr |
| Borrowings (Current) | ₹71.85 Cr | ₹33.92 Cr | ₹1.73 Cr | ₹42.86 Lakh |
| Total Debt (computed) | ₹150.89 Cr | ₹81.74 Cr | ₹25.29 Cr | ₹2.97 Cr |
| Current Liabilities | ₹288.69 Cr | ₹189.78 Cr | ₹81.3 Cr | ₹72.91 Cr |
| Total Liabilities | ₹375.34 Cr | ₹244.02 Cr | ₹107.3 Cr | ₹77.9 Cr |
| Metrics | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|---|
| Operating Cash Flow | -₹10.57 Cr | ₹29.97 Cr | ₹12.01 Cr | ₹24.35 Cr | ₹8.31 Cr |
| Investing Cash Flow | -₹40.45 Cr | -₹83.35 Cr | -₹8.63 Cr | -₹14.29 Cr | -₹4.82 Cr |
| Financing Cash Flow | ₹52.42 Cr | ₹48.67 Cr | ₹17.74 Cr | -₹9.27 Cr | -₹3.42 Cr |
| Capital Expenditure | ₹39.92 Cr | ₹82.33 Cr | ₹19.66 Cr | ₹3.77 Cr | ₹4.03 Cr |
| Free Cash Flow (computed) | -₹50.5 Cr | -₹52.35 Cr | -₹7.64 Cr | ₹20.57 Cr | ₹4.28 Cr |
| Dividends Paid | ₹3.55 Cr | ₹3.16 Cr | ₹2.84 Cr | ₹1.89 Cr | ₹1.88 Cr |
| Net Change in Cash | ₹1.4 Cr | -₹4.7 Cr | ₹21.12 Cr | ₹79.05 Lakh | ₹7.19 Lakh |
| Metrics | Q4 FY26 | Q3 FY26 | Q2 FY26 | Q1 FY26 | Q4 FY25 | Q3 FY25 | Q2 FY25 | Q1 FY25 | Q4 FY24 | Q3 FY24 | Q2 FY24 | Q1 FY24 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue from Operations | ₹255.85 Cr | ₹153.36 Cr | ₹147.49 Cr | ₹111.5 Cr | ₹180.35 Cr | ₹110.56 Cr | ₹103.39 Cr | ₹85.23 Cr | ₹139.92 Cr | ₹82.43 Cr | ₹76.89 Cr | ₹79.14 Cr |
| Other Income | ₹38.12 Lakh | ₹12.58 Lakh | ₹8.77 Lakh | ₹12.88 Lakh | ₹46.43 Lakh | ₹21.55 Lakh | ₹11.68 Lakh | ₹10.14 Lakh | ₹22.58 Lakh | ₹9.71 Lakh | ₹12.86 Lakh | ₹16.95 Lakh |
| Total Income | ₹256.23 Cr | ₹153.48 Cr | ₹147.58 Cr | ₹111.63 Cr | ₹180.82 Cr | ₹110.77 Cr | ₹103.5 Cr | ₹85.33 Cr | ₹140.15 Cr | ₹82.52 Cr | ₹77.02 Cr | ₹79.31 Cr |
| Cost of Materials Consumed | ₹185.09 Cr | ₹119.89 Cr | ₹103.18 Cr | ₹86.22 Cr | ₹126.85 Cr | ₹83.25 Cr | ₹72.46 Cr | ₹61.35 Cr | ₹85.92 Cr | ₹63 Cr | ₹54.86 Cr | ₹58.97 Cr |
| Purchases of Stock-in-Trade | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 |
| Changes in Inventories | -₹3.69 Cr | -₹10.47 Cr | ₹2.98 Cr | -₹9.24 Cr | -₹4.73 Cr | -₹4.63 Cr | -₹47.91 Lakh | -₹94.21 Lakh | ₹9.15 Cr | -₹4.38 Cr | -₹4.44 Cr | -₹3.53 Cr |
| Employee Benefit Expense | ₹12.4 Cr | ₹8.39 Cr | ₹7.95 Cr | ₹7.88 Cr | ₹7.57 Cr | ₹6.56 Cr | ₹6 Cr | ₹5.74 Cr | ₹5.32 Cr | ₹4.88 Cr | ₹5.04 Cr | ₹4.31 Cr |
| Finance Costs | ₹3.72 Cr | ₹3.85 Cr | ₹2.73 Cr | ₹2.29 Cr | ₹1.63 Cr | ₹1.15 Cr | ₹90.1 Lakh | ₹44.51 Lakh | ₹52.48 Lakh | ₹66.31 Lakh | ₹70.11 Lakh | ₹22.62 Lakh |
| Depreciation & Amortisation | ₹4.49 Cr | ₹4.28 Cr | ₹4.2 Cr | ₹4.08 Cr | ₹4.16 Cr | ₹2.15 Cr | ₹1.04 Cr | ₹95.22 Lakh | ₹1.07 Cr | ₹1.03 Cr | ₹1.01 Cr | ₹96.51 Lakh |
| Other Expenses | ₹40.67 Cr | ₹25.64 Cr | ₹23.76 Cr | ₹22.24 Cr | ₹29.27 Cr | ₹18.71 Cr | ₹16.95 Cr | ₹13.05 Cr | ₹18.83 Cr | ₹14.62 Cr | ₹13.85 Cr | ₹11.22 Cr |
| Total Expenses | ₹242.67 Cr | ₹151.58 Cr | ₹144.81 Cr | ₹113.47 Cr | ₹164.76 Cr | ₹107.18 Cr | ₹96.87 Cr | ₹80.59 Cr | ₹120.81 Cr | ₹79.82 Cr | ₹71.02 Cr | ₹72.16 Cr |
| Profit Before Exceptional Items & Tax | ₹13.56 Cr | ₹1.9 Cr | ₹2.77 Cr | -₹1.84 Cr | ₹16.06 Cr | ₹3.59 Cr | ₹6.63 Cr | ₹4.74 Cr | ₹19.33 Cr | ₹2.71 Cr | ₹6 Cr | ₹7.15 Cr |
| Exceptional Items | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 |
| Profit Before Tax | ₹13.56 Cr | ₹1.9 Cr | ₹2.77 Cr | -₹1.84 Cr | ₹16.06 Cr | ₹3.59 Cr | ₹6.63 Cr | ₹4.74 Cr | ₹19.33 Cr | ₹2.71 Cr | ₹6 Cr | ₹7.15 Cr |
| Total Tax Expense | ₹3.43 Cr | ₹45.06 Lakh | ₹74.63 Lakh | -₹37 Lakh | ₹4.4 Cr | ₹78.46 Lakh | ₹1.84 Cr | ₹1.09 Cr | ₹5.07 Cr | ₹69.24 Lakh | ₹1.51 Cr | ₹1.8 Cr |
| Net Profit | ₹10.12 Cr | ₹1.45 Cr | ₹2.02 Cr | -₹1.47 Cr | ₹11.66 Cr | ₹2.81 Cr | ₹4.79 Cr | ₹3.64 Cr | ₹14.27 Cr | ₹2.02 Cr | ₹4.49 Cr | ₹5.36 Cr |
| attributable to Owners | ₹10.11 Cr | - | ₹2.03 Cr | -₹1.42 Cr | ₹11.71 Cr | ₹2.87 Cr | ₹4.82 Cr | ₹3.71 Cr | ₹14.3 Cr | ₹2.07 Cr | ₹0 | ₹0 |
| attributable to NCI | ₹1.12 Lakh | - | -₹32,000 | -₹4.65 Lakh | -₹4.3 Lakh | -₹6.17 Lakh | -₹3.25 Lakh | -₹6.9 Lakh | -₹3.61 Lakh | -₹5.02 Lakh | ₹0 | ₹0 |
| Other Comprehensive Income | ₹38.12 Lakh | -₹1.91 Lakh | -₹1.95 Lakh | -₹1.87 Lakh | -₹6.5 Lakh | -₹1.91 Lakh | -₹1.91 Lakh | -₹1.91 Lakh | -₹28.7 Lakh | -₹1.94 Lakh | -₹1.94 Lakh | -₹1.94 Lakh |
| Total Comprehensive Income | ₹10.5 Cr | ₹1.43 Cr | ₹2 Cr | -₹1.49 Cr | ₹11.6 Cr | ₹2.79 Cr | ₹4.77 Cr | ₹3.63 Cr | ₹13.98 Cr | ₹2 Cr | ₹4.47 Cr | ₹5.34 Cr |
| EBITDA (computed) | ₹21.77 Cr | ₹10.04 Cr | ₹9.7 Cr | ₹4.53 Cr | ₹21.85 Cr | ₹6.89 Cr | ₹8.57 Cr | ₹6.13 Cr | ₹20.93 Cr | ₹4.41 Cr | ₹7.71 Cr | ₹8.35 Cr |
| Basic EPS | ₹6.41 | ₹0.93 | ₹1.28 | ₹-0.90 | ₹7.42 | ₹1.82 | ₹3.05 | ₹2.35 | ₹9.04 | ₹1.28 | ₹2.85 | ₹3.40 |
| Diluted EPS | ₹6.41 | ₹0.93 | ₹1.28 | ₹-0.90 | ₹7.42 | ₹1.82 | ₹3.05 | ₹2.35 | ₹9.04 | ₹1.28 | ₹2.85 | ₹3.40 |
| Metrics | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
| Revenue from Operations | ₹667.35 Cr | ₹471.79 Cr | ₹369.6 Cr | ₹302.69 Cr | ₹200.17 Cr | ₹131.45 Cr |
| Other Income | ₹1.06 Cr | ₹1.43 Cr | ₹98.1 Lakh | ₹1.55 Cr | ₹1.03 Cr | ₹1.17 Cr |
| Total Income | ₹668.41 Cr | ₹473.22 Cr | ₹370.58 Cr | ₹304.24 Cr | ₹201.19 Cr | ₹132.62 Cr |
| Cost of Materials Consumed | ₹502.8 Cr | ₹343.14 Cr | ₹258.43 Cr | ₹212.93 Cr | ₹144.47 Cr | ₹93.65 Cr |
| Purchases of Stock-in-Trade | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 |
| Changes in Inventories | -₹20.05 Cr | -₹10.92 Cr | -₹1.83 Cr | ₹2.29 Cr | ₹96.68 Lakh | -₹3.62 Cr |
| Employee Benefit Expense | ₹34.68 Cr | ₹23.98 Cr | ₹17.92 Cr | ₹13.84 Cr | ₹11.98 Cr | ₹10.12 Cr |
| Finance Costs | ₹12.39 Cr | ₹3.89 Cr | ₹1.85 Cr | ₹1.15 Cr | ₹1.57 Cr | ₹1.66 Cr |
| Depreciation & Amortisation | ₹16.63 Cr | ₹7.82 Cr | ₹3.51 Cr | ₹3.31 Cr | ₹3.01 Cr | ₹3.55 Cr |
| Other Expenses | ₹107.25 Cr | ₹73.89 Cr | ₹54.85 Cr | ₹42.31 Cr | ₹28.31 Cr | ₹20.79 Cr |
| Total Expenses | ₹653.7 Cr | ₹441.8 Cr | ₹334.74 Cr | ₹275.83 Cr | ₹190.31 Cr | ₹126.15 Cr |
| Profit Before Exceptional Items & Tax | ₹14.7 Cr | ₹31.43 Cr | ₹35.84 Cr | ₹28.4 Cr | ₹10.88 Cr | ₹6.48 Cr |
| Exceptional Items | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 |
| Profit Before Tax | ₹14.7 Cr | ₹31.43 Cr | ₹35.84 Cr | ₹28.4 Cr | ₹10.88 Cr | ₹6.48 Cr |
| Total Tax Expense | ₹3.81 Cr | ₹8.2 Cr | ₹9.23 Cr | ₹7.35 Cr | ₹2.78 Cr | ₹1.98 Cr |
| Net Profit | ₹10.89 Cr | ₹23.22 Cr | ₹26.62 Cr | ₹21.05 Cr | ₹8.1 Cr | ₹4.49 Cr |
| attributable to Owners | - | - | - | - | ₹0 | ₹4.49 Cr |
| attributable to NCI | - | - | - | - | ₹0 | ₹0 |
| Other Comprehensive Income | ₹31.52 Lakh | -₹11.75 Lakh | -₹34.4 Lakh | ₹8.72 Lakh | -₹28.33 Lakh | -₹60,000 |
| Total Comprehensive Income | ₹11.21 Cr | ₹23.11 Cr | ₹26.27 Cr | ₹21.14 Cr | ₹7.82 Cr | ₹4.49 Cr |
| EBITDA (computed) | ₹43.73 Cr | ₹43.13 Cr | ₹41.21 Cr | ₹32.86 Cr | ₹15.46 Cr | ₹11.68 Cr |
| Basic EPS | ₹6.90 | ₹14.72 | ₹16.87 | ₹13.35 | ₹5.16 | ₹2.87 |
| Diluted EPS | ₹6.90 | ₹14.72 | ₹16.87 | ₹13.35 | ₹5.14 | ₹2.86 |
| Metrics | FY 2026 | FY 2025 | FY 2024 | FY 2023 |
|---|---|---|---|---|
| Total Assets | ₹501.07 Cr | ₹365.18 Cr | ₹209.3 Cr | ₹158.08 Cr |
| Non-current Assets | ₹174.62 Cr | ₹150.06 Cr | ₹73.62 Cr | ₹38.76 Cr |
| Current Assets | ₹326.45 Cr | ₹215.12 Cr | ₹135.68 Cr | ₹119.33 Cr |
| Property, Plant & Equipment | ₹130.24 Cr | ₹125.85 Cr | ₹44.91 Cr | ₹28.21 Cr |
| Inventories | ₹140.39 Cr | ₹101.55 Cr | ₹53.07 Cr | ₹46.59 Cr |
| Trade Receivables | ₹155.15 Cr | ₹94.78 Cr | ₹68.44 Cr | ₹54.64 Cr |
| Cash & Equivalents | ₹1.03 Cr | ₹5.85 Lakh | ₹4.62 Cr | ₹94.54 Lakh |
| Equity (Net Worth) | ₹136.05 Cr | ₹128.4 Cr | ₹108.45 Cr | ₹85.01 Cr |
| Equity Share Capital | ₹15.78 Cr | ₹15.78 Cr | ₹15.78 Cr | ₹15.78 Cr |
| Borrowings (Non-current) | ₹77.32 Cr | ₹44.96 Cr | ₹20.85 Cr | ₹1.03 Cr |
| Borrowings (Current) | ₹71.85 Cr | ₹33.92 Cr | ₹1.73 Cr | ₹42.86 Lakh |
| Total Debt (computed) | ₹149.17 Cr | ₹78.88 Cr | ₹22.58 Cr | ₹1.46 Cr |
| Current Liabilities | ₹280.37 Cr | ₹185.8 Cr | ₹78.06 Cr | ₹69.54 Cr |
| Total Liabilities | ₹365.02 Cr | ₹236.78 Cr | ₹100.86 Cr | ₹73.07 Cr |
| Metrics | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|---|
| Operating Cash Flow | -₹13.54 Cr | ₹30.39 Cr | ₹11.44 Cr | ₹22.3 Cr | ₹8.69 Cr |
| Investing Cash Flow | -₹39.39 Cr | -₹83.83 Cr | -₹7.99 Cr | -₹13.14 Cr | -₹5.27 Cr |
| Financing Cash Flow | ₹53.9 Cr | ₹48.88 Cr | ₹17.97 Cr | -₹8.43 Cr | -₹3.36 Cr |
| Capital Expenditure | ₹39.92 Cr | ₹82.4 Cr | ₹18.39 Cr | ₹3.58 Cr | ₹4.03 Cr |
| Free Cash Flow (computed) | -₹53.46 Cr | -₹52.01 Cr | -₹6.94 Cr | ₹18.72 Cr | ₹4.66 Cr |
| Dividends Paid | ₹3.55 Cr | ₹3.16 Cr | ₹2.84 Cr | ₹1.89 Cr | ₹1.88 Cr |
| Net Change in Cash | ₹97.03 Lakh | -₹4.56 Cr | ₹21.42 Cr | ₹72.89 Lakh | ₹6.14 Lakh |
| Metrics | Q4 FY26 | Q3 FY26 | Q2 FY26 | Q1 FY26 | Q4 FY25 | Q3 FY25 | Q2 FY25 | Q1 FY25 | Q4 FY24 | Q3 FY24 | Q2 FY24 | Q1 FY24 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue from Operations | ₹253.59 Cr | ₹153.21 Cr | ₹148.7 Cr | ₹111.86 Cr | ₹178.61 Cr | ₹108.64 Cr | ₹101.38 Cr | ₹83.17 Cr | ₹135.07 Cr | ₹81.56 Cr | ₹75.72 Cr | ₹77.25 Cr |
| Other Income | ₹38.18 Lakh | ₹26.95 Lakh | ₹14.8 Lakh | ₹25.97 Lakh | ₹60.63 Lakh | ₹33.61 Lakh | ₹26.92 Lakh | ₹21.78 Lakh | ₹32.42 Lakh | ₹20.09 Lakh | ₹21.27 Lakh | ₹24.32 Lakh |
| Total Income | ₹253.97 Cr | ₹153.48 Cr | ₹148.85 Cr | ₹112.12 Cr | ₹179.21 Cr | ₹108.97 Cr | ₹101.65 Cr | ₹83.39 Cr | ₹135.39 Cr | ₹81.76 Cr | ₹75.94 Cr | ₹77.5 Cr |
| Cost of Materials Consumed | ₹187.12 Cr | ₹120.67 Cr | ₹107.53 Cr | ₹87.48 Cr | ₹128.01 Cr | ₹82.42 Cr | ₹72.21 Cr | ₹60.5 Cr | ₹83.66 Cr | ₹62.42 Cr | ₹54.2 Cr | ₹58.15 Cr |
| Purchases of Stock-in-Trade | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 |
| Changes in Inventories | -₹5.12 Cr | -₹9.17 Cr | ₹2.59 Cr | -₹8.35 Cr | -₹5.35 Cr | -₹4.13 Cr | -₹54.99 Lakh | -₹89.7 Lakh | ₹8.36 Cr | -₹3.13 Cr | -₹3.6 Cr | -₹3.47 Cr |
| Employee Benefit Expense | ₹11.96 Cr | ₹7.9 Cr | ₹7.44 Cr | ₹7.38 Cr | ₹7.08 Cr | ₹6.1 Cr | ₹5.54 Cr | ₹5.26 Cr | ₹4.87 Cr | ₹4.46 Cr | ₹4.66 Cr | ₹3.93 Cr |
| Finance Costs | ₹3.6 Cr | ₹3.82 Cr | ₹2.72 Cr | ₹2.26 Cr | ₹1.5 Cr | ₹1.11 Cr | ₹86.6 Lakh | ₹41 Lakh | ₹35.49 Lakh | ₹60.13 Lakh | ₹68.28 Lakh | ₹21.55 Lakh |
| Depreciation & Amortisation | ₹4.39 Cr | ₹4.18 Cr | ₹4.09 Cr | ₹3.98 Cr | ₹4.04 Cr | ₹2.03 Cr | ₹91.98 Lakh | ₹83.04 Lakh | ₹94.07 Lakh | ₹90.3 Lakh | ₹84.65 Lakh | ₹81.85 Lakh |
| Other Expenses | ₹39 Cr | ₹24.57 Cr | ₹22.51 Cr | ₹21.16 Cr | ₹28.1 Cr | ₹17.64 Cr | ₹15.93 Cr | ₹12.23 Cr | ₹17.93 Cr | ₹13.51 Cr | ₹13 Cr | ₹10.41 Cr |
| Total Expenses | ₹240.95 Cr | ₹151.97 Cr | ₹146.88 Cr | ₹113.9 Cr | ₹163.38 Cr | ₹105.17 Cr | ₹94.92 Cr | ₹78.33 Cr | ₹116.12 Cr | ₹78.78 Cr | ₹69.78 Cr | ₹70.05 Cr |
| Profit Before Exceptional Items & Tax | ₹13.02 Cr | ₹1.5 Cr | ₹1.97 Cr | -₹1.79 Cr | ₹15.83 Cr | ₹3.81 Cr | ₹6.72 Cr | ₹5.06 Cr | ₹19.27 Cr | ₹2.98 Cr | ₹6.15 Cr | ₹7.44 Cr |
| Exceptional Items | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 |
| Profit Before Tax | ₹13.02 Cr | ₹1.5 Cr | ₹1.97 Cr | -₹1.79 Cr | ₹15.83 Cr | ₹3.81 Cr | ₹6.72 Cr | ₹5.06 Cr | ₹19.27 Cr | ₹2.98 Cr | ₹6.15 Cr | ₹7.44 Cr |
| Total Tax Expense | ₹3.3 Cr | ₹39.33 Lakh | ₹51.83 Lakh | -₹39.96 Lakh | ₹4.32 Cr | ₹84.32 Lakh | ₹1.83 Cr | ₹1.21 Cr | ₹5.04 Cr | ₹76.24 Lakh | ₹1.56 Cr | ₹1.87 Cr |
| Net Profit | ₹9.72 Cr | ₹1.11 Cr | ₹1.45 Cr | -₹1.39 Cr | ₹11.52 Cr | ₹2.96 Cr | ₹4.89 Cr | ₹3.85 Cr | ₹14.23 Cr | ₹2.22 Cr | ₹4.59 Cr | ₹5.58 Cr |
| Other Comprehensive Income | ₹37.13 Lakh | -₹1.87 Lakh | -₹1.87 Lakh | -₹1.87 Lakh | -₹6.14 Lakh | -₹1.87 Lakh | -₹1.87 Lakh | -₹1.87 Lakh | -₹28.79 Lakh | -₹1.87 Lakh | -₹1.87 Lakh | -₹1.87 Lakh |
| Total Comprehensive Income | ₹10.1 Cr | ₹1.09 Cr | ₹1.43 Cr | -₹1.41 Cr | ₹11.46 Cr | ₹2.94 Cr | ₹4.87 Cr | ₹3.84 Cr | ₹13.94 Cr | ₹2.2 Cr | ₹4.58 Cr | ₹5.56 Cr |
| EBITDA (computed) | ₹21 Cr | ₹9.5 Cr | ₹8.78 Cr | ₹4.44 Cr | ₹21.37 Cr | ₹6.95 Cr | ₹8.51 Cr | ₹6.3 Cr | ₹20.57 Cr | ₹4.48 Cr | ₹7.68 Cr | ₹8.48 Cr |
| Basic EPS | ₹6.16 | ₹0.70 | ₹0.92 | ₹-0.88 | ₹7.30 | ₹1.88 | ₹3.10 | ₹2.44 | ₹9.02 | ₹1.40 | ₹2.91 | ₹3.53 |
| Diluted EPS | ₹6.16 | ₹0.70 | ₹0.92 | ₹-0.88 | ₹7.30 | ₹1.88 | ₹3.10 | ₹2.44 | ₹9.02 | ₹1.40 | ₹2.91 | ₹3.53 |
Board & Governance of Ice Make Refrigeration Limited
As per the corporate governance filing with NSE for the quarter ended 31-MAR-2026, the board of Ice Make Refrigeration Limited has 6 directors - 3 independent and 3 executive. The board is chaired by CHANDRAKANT POPATBHAI PATEL.
| Director | Position | On board since | Listed boards |
|---|---|---|---|
| CHANDRAKANT POPATBHAI PATEL | Executive Director · MD · Chairperson | 2009-03-31 | 1 |
| PATEL RAJENDRABHAI P | Executive Director · MD | 2009-03-31 | 1 |
| VIPULBHAI ISHWARBHAI PATEL | Executive Director · MD | 2009-03-31 | 1 |
| DARSHA KIKANI | Non-Executive - Independent Director | 2017-09-05 | 2 |
| HARSHADRAI P PANDYA | Non-Executive - Independent Director | 2017-09-05 | 1 |
| KRISHNAKANT L PATEL | Non-Executive - Independent Director | 2017-09-05 | 1 |
| Committee | Members |
|---|---|
| Audit Committee | DARSHA KIKANI (Chairperson), HARSHADRAI P PANDYA, CHANDRAKANT POPATBHAI PATEL |
| Nomination and remuneration committee | DARSHA KIKANI (Chairperson), KRISHNAKANT L PATEL, HARSHADRAI P PANDYA |
| Stakeholders Relationship Committee | HARSHADRAI P PANDYA (Chairperson), KRISHNAKANT L PATEL, VIPULBHAI ISHWARBHAI PATEL, CHANDRAKANT POPATBHAI PATEL |
| Corporate Social Responsibility Committee | PATEL RAJENDRABHAI P (Chairperson), VIPULBHAI ISHWARBHAI PATEL, KRISHNAKANT L PATEL |
Charges & Borrowings of Ice Make Refrigeration Limited
| Date | Lender | Amount | Status |
|---|---|---|---|
| 15 Jan 2026 | Canara Bank | ₹25 Lakh | Open |
| 08 Dec 2025 | Others | ₹40 Cr | Open |
| 27 Oct 2023 | Others | ₹7.5 Cr | Open |
| 27 Jul 2023 | Hdfc Bank Limited | ₹48 Cr | Open |
| 25 Nov 2020 | Hdfc Bank Limited | ₹87 Cr | Open |
Total charge records: 10 View all charges
Employees and EPFO Compliance at Ice Make Refrigeration Limited
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Employee and EPFO history for Ice Make Refrigeration Limited
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GST Compliance of Ice Make Refrigeration Limited
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Credit Ratings, Litigation & Regulatory Alerts for Ice Make Refrigeration Limited
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MSME Payment Delays by Ice Make Refrigeration Limited
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Subsidiaries & Group Companies of Ice Make Refrigeration Limited
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MCA Filings & Documents of Ice Make Refrigeration Limited
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Recent Activity on Ice Make Refrigeration Limited
Recent News on Ice Make Refrigeration Limited
Frequently Asked Questions about Ice Make Refrigeration Limited
Ice Make Refrigeration Limited is an active public limited company in the consumer electronics and durables sector based in Ahmedabad, Gujarat, India. It was incorporated on 31 March 2009 (17+ years old) and is registered under CIN L29220GJ2009PLC056482. Listed on NSE: ICEMAKE. The company has 161 employees.
Ice Make Refrigeration Limited reported revenue of ₹668.2 Cr for FY 2026 (up 39.35% YoY) based on consolidated NSE filings.
The current directors of Ice Make Refrigeration Limited are:
- Darsha Kikani - Director
- Harshadrai Premshanker Pandya - Director
- Chandrakant Popatbhai Patel - Managing Director
- Rajendrabhai Popatbhai Patel - Managing Director
- Vipulbhai Ishwarbhai Patel - Managing Director
- Krishnakant Laljibhai Patel - Director
The primary industry of Ice Make Refrigeration Limited is consumer electronics and durables. The company specifically operates in white goods retail and distribution. The company is currently active in this sector.
Yes. Ice Make Refrigeration Limited is listed on NSE with symbol ICEMAKE.
Ice Make Refrigeration Limited can be reached at the registered office: B – 1 Vasupujya Chamber Near Navdeep Building Income – Tax Cross Road, Ahmedabad, Gujarat, India – 380009, or through the website icemakeindia.com.