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 3:51 p.m.
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 49.9
  • Book Value ₹ 69.4
  • Dividend Yield 0.26 %
  • ROCE 34.3 %
  • ROE 28.2 %
  • Face Value ₹ 10.0
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Pros

  • Company has delivered good profit growth of 28.4% CAGR over last 5 years
  • Company has been maintaining a healthy dividend payout of 17.1%

Cons

  • Stock is trading at 11.2 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

Consolidated Figures in Rs. Crores / View Standalone

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
47.90 48.86 76.90 64.85 67.12 66.68 113.56 79.14 76.89 82.43 139.92 85.23 103.39
44.96 45.93 68.28 59.54 59.78 59.37 101.41 70.96 69.31 78.13 119.23 79.19 94.94
Operating Profit 2.94 2.93 8.62 5.31 7.34 7.31 12.15 8.18 7.58 4.30 20.69 6.04 8.45
OPM % 6.14% 6.00% 11.21% 8.19% 10.94% 10.96% 10.70% 10.34% 9.86% 5.22% 14.79% 7.09% 8.17%
0.09 0.14 0.35 0.06 0.19 0.14 0.73 0.17 0.13 0.10 0.23 0.10 0.12
Interest 0.41 0.51 0.54 0.31 0.18 0.57 0.19 0.23 0.70 0.66 0.52 0.45 0.90
Depreciation 0.84 0.85 0.99 0.91 0.94 1.00 1.06 0.97 1.01 1.03 1.07 0.95 1.04
Profit before tax 1.78 1.71 7.44 4.15 6.41 5.88 11.63 7.15 6.00 2.71 19.33 4.74 6.63
Tax % 24.16% 25.73% 25.67% 25.30% 27.61% 24.66% 25.80% 25.17% 25.17% 25.46% 26.23% 23.00% 27.75%
1.34 1.27 5.53 3.10 4.64 4.43 8.63 5.36 4.49 2.02 14.26 3.64 4.79
EPS in Rs 0.85 0.81 3.52 1.96 2.94 2.81 5.47 3.40 2.86 1.28 9.06 2.35 3.05
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 TTM
88 103 132 138 135 206 312 378 411
78 90 118 124 124 192 280 338 371
Operating Profit 10 13 14 13 10 14 32 41 39
OPM % 11% 12% 10% 10% 8% 7% 10% 11% 10%
0 0 0 0 1 1 1 1 1
Interest 1 2 1 2 2 2 1 2 3
Depreciation 2 2 2 5 4 4 4 4 4
Profit before tax 7 10 11 7 5 10 28 35 33
Tax % 32% 32% 29% 27% 32% 25% 26% 26%
5 7 7 5 4 7 21 26 25
EPS in Rs 6.95 4.23 4.77 3.22 2.30 4.66 13.18 16.64 15.74
Dividend Payout % 0% 24% 25% 37% 52% 26% 14% 12%
Compounded Sales Growth
10 Years: %
5 Years: 24%
3 Years: 41%
TTM: 22%
Compounded Profit Growth
10 Years: %
5 Years: 28%
3 Years: 93%
TTM: 8%
Stock Price CAGR
10 Years: %
5 Years: 71%
3 Years: 119%
1 Year: 25%
Return on Equity
10 Years: %
5 Years: 19%
3 Years: 24%
Last Year: 28%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Sep 2024
Equity Capital 7 16 16 16 16 16 16 16 16
Reserves 8 29 34 38 41 46 65 88 94
15 10 3 17 10 11 5 27 81
25 27 29 34 42 52 73 80 93
Total Liabilities 55 81 83 105 108 125 159 211 284
11 13 23 31 30 32 32 50 53
CWIP 0 1 0 0 1 0 0 12 52
Investments 0 0 0 0 0 0 5 0 0
44 68 60 74 77 93 122 149 180
Total Assets 55 81 83 105 108 125 159 211 284

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
8 -2 8 0 12 8 24 10
-4 -4 -12 -7 -3 -5 -14 -23
-0 16 -10 5 -9 -3 -9 17
Net Cash Flow 3 11 -13 -1 -0 0 1 4

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Debtor Days 66 78 60 69 68 60 63 63
Inventory Days 114 135 121 156 161 123 86 84
Days Payable 109 96 85 92 103 83 84 76
Cash Conversion Cycle 71 116 96 132 125 100 64 71
Working Capital Days 45 79 70 88 85 64 44 50
ROCE % 27% 22% 15% 11% 17% 37% 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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Documents

Announcements

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DRHP

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