ICE Make Refrigeration Ltd

ICE Make Refrig. Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

ICE Make Refrigeration Ltd

₹ 781 1.24%
26 Dec - close price
icemakeindia.com NSE: ICEMAKE
About

Established in 1993, Ice Make Refrigeration Ltd. is engaged in the business of providing customized cooling solutions like Cold Rooms, Freezers, Commercial and Industrial Refrigeration Systems, Chilling Plants, etc. [1][2]

Key Points

Business Verticals
The company offers over 50 products under the brands ‘Ice Make’, ‘Bharat’ and ‘TransFreez’ divided into 5 business segments: [1][2]

Website NSE
  • Market Cap ₹ 1,232 Cr.
  • Current Price ₹ 781
  • High / Low ₹ 984 / 434
  • Stock P/E 48.9
  • Book Value ₹ 72.2
  • Dividend Yield 0.26 %
  • ROCE 34.2 %
  • ROE 27.5 %
  • Face Value ₹ 10.0
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Pros

  • Company has delivered good profit growth of 27.7% CAGR over last 5 years

Cons

  • Stock is trading at 10.8 times its book value
  • Company might be capitalizing the interest cost

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: Capital Goods - Electrical Equipment Industry: Electric Equipment

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024
46.23 47.35 74.97 63.30 65.27 63.52 110.60 77.25 75.72 81.56 135.07 83.17 101.38
43.35 44.60 66.29 58.20 57.96 56.52 98.69 69.01 68.25 77.28 114.83 77.09 93.14
Operating Profit 2.88 2.75 8.68 5.10 7.31 7.00 11.91 8.24 7.47 4.28 20.24 6.08 8.24
OPM % 6.23% 5.81% 11.58% 8.06% 11.20% 11.02% 10.77% 10.67% 9.87% 5.25% 14.98% 7.31% 8.13%
0.18 0.23 0.42 0.16 0.32 0.33 0.73 0.24 0.21 0.20 0.32 0.22 0.27
Interest 0.39 0.49 0.45 0.29 0.17 0.57 0.12 0.22 0.68 0.60 0.35 0.41 0.87
Depreciation 0.69 0.70 0.84 0.76 0.79 0.85 0.91 0.82 0.85 0.90 0.94 0.83 0.92
Profit before tax 1.98 1.79 7.81 4.21 6.67 5.91 11.61 7.44 6.15 2.98 19.27 5.06 6.72
Tax % 24.75% 26.26% 25.74% 25.42% 27.59% 24.70% 25.75% 25.13% 25.37% 25.50% 26.15% 23.91% 27.23%
1.49 1.33 5.81 3.14 4.83 4.45 8.63 5.58 4.59 2.22 14.23 3.85 4.89
EPS in Rs 0.95 0.85 3.70 1.99 3.06 2.82 5.47 3.54 2.91 1.41 9.02 2.44 3.10
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2011 Mar 2012 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 TTM
18 27 50 72 88 101 129 136 131 200 303 370 401
16 25 47 65 78 89 115 122 121 186 271 329 362
Operating Profit 2 2 4 7 10 12 14 14 11 14 31 40 39
OPM % 9% 9% 8% 10% 11% 12% 11% 10% 8% 7% 10% 11% 10%
0 0 0 0 0 1 0 1 1 1 2 1 1
Interest 1 1 1 2 1 2 1 2 2 2 1 2 2
Depreciation 1 1 1 2 2 1 2 4 4 3 3 4 4
Profit before tax 0 1 1 4 7 10 11 9 6 11 28 36 34
Tax % 33% 34% 34% 34% 32% 32% 29% 26% 31% 26% 26% 26%
0 1 1 3 5 7 8 7 4 8 21 27 25
EPS in Rs 1.59 4.26 6.46 3.67 6.98 4.23 5.00 4.26 2.86 5.16 13.34 16.87 15.97
Dividend Payout % 0% 0% 0% 0% 0% 24% 24% 0% 42% 23% 13% 12%
Compounded Sales Growth
10 Years: %
5 Years: 23%
3 Years: 41%
TTM: 23%
Compounded Profit Growth
10 Years: %
5 Years: 28%
3 Years: 81%
TTM: 8%
Stock Price CAGR
10 Years: %
5 Years: 71%
3 Years: 119%
1 Year: 26%
Return on Equity
10 Years: %
5 Years: 19%
3 Years: 24%
Last Year: 27%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2011 Mar 2012 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Sep 2024
Equity Capital 1 1 1 7 7 16 16 16 16 16 16 16 16
Reserves 1 3 6 3 8 29 35 40 44 50 69 93 98
8 7 13 14 15 8 2 14 8 9 3 24 80
4 7 13 14 24 26 29 33 40 49 70 77 89
Total Liabilities 14 17 33 39 55 79 81 102 107 123 158 209 283
6 6 9 9 9 10 20 26 26 29 30 46 49
CWIP 0 0 0 0 0 1 0 0 1 0 0 12 52
Investments 0 0 0 0 2 3 3 3 3 3 8 3 3
8 11 24 30 44 64 58 73 76 90 120 148 179
Total Assets 14 17 33 39 55 79 81 102 107 123 158 209 283

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2011 Mar 2012 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
0 0 5 1 8 -0 7 -0 12 9 22 10
0 0 -2 -2 -4 -4 -10 -7 -4 -5 -13 -22
0 0 1 -0 -0 14 -9 6 -9 -3 -8 16
Net Cash Flow 0 0 3 -1 3 10 -12 -1 -0 0 1 4

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2011 Mar 2012 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Debtor Days 66 54 61 69 65 76 58 74 76 63 66 68
Inventory Days 104 112 96 75 105 122 107 134 141 111 79 75
Days Payable 78 87 90 70 107 94 84 88 101 79 83 75
Cash Conversion Cycle 91 79 67 73 63 104 82 120 115 94 62 69
Working Capital Days 51 47 53 57 41 71 61 83 81 62 44 51
ROCE % 16% 24% 31% 28% 23% 18% 12% 18% 36% 34%

Shareholding Pattern

Numbers in percentages

1 Recently
Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024
74.86% 74.89% 74.63% 74.49% 74.49% 74.49% 74.49% 74.49% 74.49% 74.49% 74.49% 74.49%
0.00% 0.00% 0.00% 0.05% 0.05% 0.05% 0.05% 0.05% 0.02% 0.00% 0.02% 0.00%
25.14% 25.13% 25.50% 25.46% 25.46% 25.46% 25.46% 25.46% 25.49% 25.51% 25.50% 25.51%
No. of Shareholders 4,4014,3383,9075,5968,46210,04211,56614,48119,28522,66823,22524,543

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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