ICE Make Refrigeration Ltd

ICEMAKE
NSE· Capital Goods
₹855.80
-7.45 (-0.86%)
52W Low · ₹666.5552W High · ₹906.80
Near 52W High
Market Cap
₹1188.37L Cr
Volume
30.2K
Prev Close
₹863.25
ISIN
INE520Y01019

Orion Score

Fundamentals-based quality & risk · not a recommendation

54/100
Watch

ICE Make Refrigeration Ltd scores 54/100 (Watch) on the Orion Score — moderate business quality (63), strong growth (88), weak balance-sheet safety (32) and rich valuation (10). A fundamentals-based quality & risk score, not a buy/sell recommendation.

Quality
63
Growth
88
Safety
32
Value
10

Full Orion analysis

Risk checks

  • Profit converts to cash (CFO 0.7× PAT)
  • No distress, manipulation or dilution flags

Forensic accounting

Piotroski F 2/9Altman Z Safe(5.58)Beneish M Elevated(-1.73)

Piotroski F = fundamental health (0–9, higher is better) · Altman Z = bankruptcy / distress risk · Beneish M = earnings-manipulation check

Technical / Momentum

Price Trend

55/100

Neutral

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VestAI Stock Score

VALUATION
Moderate
D/E 1.19x — manageable leverage
QUALITY
Average
ROCE 19.6% — decent returns
MOMENTUM
Bullish
RSI 61.6 — strong momentum

Price Chart

SMA 20
SMA 50
SMA 200

Key Fundamentals

Q3 FY2026

P/E Ratio
86.17
ROCE
19.65%
ROE (1Y)
9.46%
D/E Ratio
1.19x
OPM
3.67%
TTM EPS
₹8.74
Dividend Yield
30.00%
Qtrly Sales
₹153.36 Cr
Qtrly Profit
₹1.47 Cr

Technical Signals

Quarterly Results

Revenue & Profit in ₹ Crores

Revenue Net Profit
QuarterRevenueNet ProfitOPMEPS
Q3 2026₹153.36₹1.473.7%₹0.93
Q2 2026₹147.49₹2.033.7%₹1.28
Q1 2026₹111.5₹-1.420.3%₹-0.90
Q4 2025₹180.2₹11.7110.0%—
Q3 2025₹110.56₹2.874.1%₹1.82

Annual P&L

Revenue & Profit in ₹ Crores (Yearly)

Revenue Net Profit
YearRevenueNet ProfitEBITDAOPM
FY 2025₹479.37₹23.11₹43.397.3%
FY 2024₹378.25₹26.25₹40.939.9%
FY 2023₹312.11₹20.8₹32.859.4%
FY 2022₹206₹7.32₹14.815.8%

Peer Comparison — Capital Goods

Top companies in the same sector by market cap

CompanyMkt CapP/EROCEROED/EOPM
ICEMAKE ★₹1,188 Cr86.1719.65%9.46%1.19x3.67%
BEL₹2,96,046 Cr48.8029.65%27.56%0.00x27.47%
BHEL₹1,45,306 Cr58.453.65%6.29%0.31x5.48%
APARINDS₹55,798 Cr57.1728.67%19.74%0.18x10.84%
COCHINSHIP₹36,631 Cr51.2910.41%12.52%0.28x18.71%
BEML₹14,269 Cr101.015.20%4.86%0.11x13.88%

Balance Sheet

All values in ₹ Crores

MetricFY 2025FY 2024FY 2023FY 2022
Total Assets₹367.72₹211.38₹159.02₹125.05
Equity₹124.03₹104.19₹81.13₹61.68
Total Debt₹85.93₹27.25₹4.86₹11.02
Cash₹0.38₹5.08₹1.28₹0.49
Net Debt₹81.36₹20.21₹1.69₹8.35
Working Capital₹32.03₹58.83₹51.08₹32.53

Shareholding Pattern

Q1 FY2027

Promoter
0%
FII
0.01%
DII
0%
Public
99.99%

Quarter-over-Quarter Trend

QuarterPromoterFIIDIIPublic
Q1 FY20270% ↓0.01% ↓0% ↓99.99% ↑
Q3 FY202674.26% ↓0.11% ↑1.99% ↑23.64% ↓
Q2 FY202674.36% ↓0.01%1.31% ↑24.32% ↓
Q1 FY202674.4%0.01% ↓1.21% ↑24.38% ↓
Q4 FY202574.41% ↓0.33% ↑0.87% ↑24.39% ↓
Q3 FY202574.49%0%0.58% ↑24.93% ↓
Q2 FY202574.49%0% ↓0%25.51% ↑
Q1 FY202574.49%0.02%0%25.5%

Corporate Actions

No recent corporate actions

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About ICE Make Refrigeration Ltd (ICEMAKE) Stock

ICE Make Refrigeration Ltd is listed on the NSE under the Capital Goods sector, Industrial Products industry. ISIN: INE520Y01019. Track live share price, technical analysis, RSI, MACD, PE ratio, and smart money holdings on VestAI — India's AI-powered stock analysis platform.