Ice Make Refrigeration Limited (NSE: ICEMAKE) is a Gandhinagar, Gujarat-based company in the Industrial Heating, Ventilation, Air Conditioning, and Refrigeration Equipment and Supplies industry. With a market capitalisation of ₹1,207 Cr, it ranks #1,488 by market cap among the 6,137 Indian listed companies on FinBizNet, and #3 of 7 in Industrial Heating, Ventilation, Air Conditioning, and Refrigeration Equipment and Supplies. At ₹625.65 (as of 25 Oct 2026), the share price is 32.0% below its 52-week high of ₹920.00 and 3.9% above its 52-week low of ₹602.00. The share price is down 11.1% over one year and down 27.7% over three months.
| Current Price | ₹625.65 |
|---|---|
| Market Cap | ₹1,207 Cr |
| NSE Symbol | ICEMAKE |
| Sector | Industrials > Capital Goods > Machinery |
| Sub-Industry | Industrial Machinery and Supplies and Components > Industrial Heating, Ventilation, Air Conditioning, and Refrigeration Equipment and Supplies |
| P/E Ratio | 86.1 |
| Return on Equity | 9.46% |
| Return on Assets | 3.97% |
| 52-Week Range | ₹602.00 – ₹920.00 |
| 1-Year Price Change | -11.1% |
| 3-Month Price Change | -27.7% |
| Beta (1Y) | 0.18 |
| Dividend Yield | 0.34% |
| Headquarters | Gandhinagar, Gujarat |
| Website | www.icemakeindia.com |
| Revenue | ₹179 Cr |
|---|---|
| Net Profit | ₹-2 Cr |
| Net Margin | -0.9% |
| EPS (Basic) | ₹-1.04 |
| Basis | consolidated |
Figures in ₹ crore, parsed from the company's exchange filing (XBRL).
Ice Make Refrigeration Limited, together with its subsidiaries, manufactures and supplies refrigeration products and equipment under the Ice Make, Bharat, and TransFreez brands in India. The company offers cold storage products, including modular, combi, walk-in, custom-built, and solar cold rooms, as well as blast freezers and chillers, glass door display chillers, ripening chambers, cold room PUF panel and accessories, and cold room refrigeration units; and chest freezers and visi coolers. It also provides commercial refrigeration consisting of dairy processing plant solutions; curd incubation and mortuary chambers; ice cream plants; bulk milk chillers; batch pasteurizers; ageing vat; ice candy production machines; ice cream hardeners; mini blast freezers and chillers; heat pump food dehydrators; vacuum freeze dryers; and commercial, reach-in, and merchandising freezers. In addition, the company offers continuous sandwich PUF panels; industrial refrigeration products, including chill
1. Manufacturing of Cold Rooms, Freezer, Refrigeration Systems & Chilling Plant Etc-This segment engages in the manufacturing of cold rooms, freezers, refrigeration systems, and chilling plants, etc.
1. Manufacturing of Cold Rooms, Freezer, Refrigeration Systems & Chilling Plant Etc-100%
| Company | Market Cap | P/E | ROE | Latest Qtr Revenue | 1Y Change |
|---|---|---|---|---|---|
| Blue Star Ltd. | ₹32,208 Cr | 61.2 | 16.22% | ₹3,378 Cr | -23.4% |
| Lloyds Engineering Works Ltd | ₹14,266 Cr | 65.9 | 16.82% | ₹527 Cr | +41.6% |
| Ice Make Refrigeration Limited | ₹1,207 Cr | 86.1 | 9.46% | ₹179 Cr | -11.1% |
| Shree Refrigerations Limited | ₹1,197 Cr | 49.5 | — | — | +27.1% |
| Krishna Ventures Limited | ₹63 Cr | 218.1 | 2.78% | — | +276.3% |
| Auro Impex & Chemicals Limited | ₹48 Cr | 11.9 | — | — | -19.9% |
| Riddhi Display Equipments Limi | ₹23 Cr | 3.8 | — | — | — |
Listed by market capitalisation. Ratios are shown for context only.
Ice Make Refrigeration Limited is trading at ₹625.65, with a market capitalisation of ₹1,207 Cr.
Ice Make Refrigeration Limited operates in the Industrials > Capital Goods > Machinery space (Industrial Machinery and Supplies and Components > Industrial Heating, Ventilation, Air Conditioning, and Refrigeration Equipment and Supplies).
Ice Make Refrigeration Limited has a P/E of 86.1 and a return on equity of 9.46%.
Ice Make Refrigeration Limited is listed on the NSE under the symbol ICEMAKE.
Ice Make Refrigeration Limited's share price is down 11.1% over one year and down 27.7% over three months. Its 52-week range is ₹602.00 to ₹920.00.
In Q1 FY27, Ice Make Refrigeration Limited reported revenue of ₹179 Cr and net profit of ₹-2 Cr, with basic EPS of ₹-1.04 (consolidated, parsed from the company's exchange filing).
Data as of 25 Oct 2026. Descriptive market data only — not investment advice.