Last Updated:
10 Mar 2026, 03:30:00 PM (IST)
Ice Make Refrigeration Limited
NSE: ICEMAKE
NSE
832.85
9.35 (1.14%)
Prev Close
823.5
Open Price
840
Volume
39,763
Today Low / High
824.55 / 857.2
52 WK Low / High
666.3 / 1088.75
Range
791 - 874
Currently, the stock is trading on the National Stock Exchange (NSE). The stock price stands at 832.85, with a change of 9.35 (1.1354%). The expected target range on the NSE is between 791 - 874. The stock is trending upwards on the NSE, which could present a good opportunity for potential investors.
Ice Make Refrigeration Limited Graph
Ice Make Refrigeration Limited Price Target Predictions: Bullish vs. Bearish Scenarios with Ranges
If you are looking for the target price for Ice Make Refrigeration Limited T1, T2, T3 for both Bullish and Bearish scenarios, here it is. For Bullish: T1, T2, T3. For Bearish: T1, T2, T3. The stock current price is 832.85, with potential price targets ranging from T1, T2, and T3 in both directions based on market conditions.
| Scenario | Price | Target | Range |
|---|---|---|---|
| Bullish Scenario | 832.85 | 841.18 | 757.06 - 925.30 |
| 849.51 | 679.61 - 1,019.41 | ||
| 857.84 | 600.48 - 1,115.19 | ||
| Bearish Scenario | 832.85 | 824.52 | 742.07 - 906.97 |
| 816.19 | 652.95 - 979.43 | ||
| 807.86 | 565.51 - 1,050.22 |
Overview of Ice Make Refrigeration Limited
ISIN
INE520Y01019
Industry
Industrial - Machinery
Vol.Avg
30,413
Market Cap
13,071,143,487
Last Dividend
2.25
Official Website
IPO Date
2017-12-08
DCF Diff
1,064.35
DCF
-237
Financial Ratios Every Investor Needs
Stock Dividend of ICEMAKE
| Date | Label | Adj Dividend | Dividend | Record Date | Payment Date | Declaration Date |
|---|---|---|---|---|---|---|
| 2025-09-19 | September 19, 25 | 2.25 | 2.25 | 2025-09-20 | 2025-10-27 | |
| 2024-09-20 | September 20, 24 | 2 | 2 | 2024-09-21 | 2024-10-28 | |
| 2023-09-15 | September 15, 23 | 1.8 | 1.8 | 2023-09-16 | 2023-10-23 | |
| 2022-09-08 | September 08, 22 | 1.2 | 1.2 | 2022-09-10 | 2022-10-17 | |
| 2021-09-16 | September 16, 21 | 1.2 | 1.2 | 2021-09-18 | 2021-10-25 |
Annual Financial Income Report
| Date | Revenue | Co.Rev | GP | GPR | R&D Expenses | G&A Expenses | Operating Income | Net Income | EPS | EBITDA | NIR |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 2025-03-31 | 479.52 Cr | 333.13 Cr | 146.39 Cr | 0.3053 | 0.00 Cr | 27.31 Cr | 34.24 Cr | 23.11 Cr | 14.65 | 43.44 Cr | 0.0482 |
| 2024-03-31 | 378.25 Cr | 260.07 Cr | 118.17 Cr | 0.3124 | 0.89 Cr | 5.82 Cr | 37.31 Cr | 26.25 Cr | 16.64 | 40.93 Cr | 0.0694 |
| 2023-03-31 | 312.21 Cr | 220.15 Cr | 92.06 Cr | 0.2949 | 0.76 Cr | 3.91 Cr | 29.03 Cr | 20.80 Cr | 13.19 | 33.23 Cr | 0.0666 |
| 2022-03-31 | 206.10 Cr | 148.55 Cr | 57.55 Cr | 0.2792 | 0.42 Cr | 3.37 Cr | 11.04 Cr | 7.32 Cr | 4.66 | 14.81 Cr | 0.0355 |
| 2021-03-31 | 134.60 Cr | 91.32 Cr | 43.28 Cr | 0.3216 | 0.25 Cr | 2.88 Cr | 7.07 Cr | 3.61 Cr | 2.31 | 11.40 Cr | 0.0268 |
Annual Financials Balance Sheet
| Date | C&C Equ. | Tot. Assets | Tot. Liab. | Stock. Equity | Tot. Debt | Net Debt | Inv. | PP&E (Net) | Curr. Def. Rev. | Non-Curr. Def. Rev. | LT Invest. | Curr. Liab. |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2025-03-31 | 0.38 Cr | 367.72 Cr | 244.02 Cr | 124.0250 Cr | 85.93 Cr | 85.56 Cr | 108.08 Cr | 137.13 Cr | 0.00 Cr | 0.69 Cr | 0.00 Cr | 189.7780 Cr |
| 2024-03-31 | 5.08 Cr | 211.38 Cr | 107.30 Cr | 104.1930 Cr | 27.25 Cr | 22.17 Cr | 59.91 Cr | 66.33 Cr | 11.70 Cr | 0.88 Cr | -1.74 Cr | 81.2958 Cr |
| 2023-03-31 | 1.28 Cr | 159.02 Cr | 77.90 Cr | 81.1258 Cr | 4.86 Cr | 3.57 Cr | 51.56 Cr | 30.96 Cr | 14.17 Cr | 0.00 Cr | 0.00 Cr | 72.8151 Cr |
| 2022-03-31 | 0.49 Cr | 125.05 Cr | 63.36 Cr | 61.6809 Cr | 11.02 Cr | 10.53 Cr | 50.05 Cr | 30.65 Cr | 14.59 Cr | 0.00 Cr | -0.21 Cr | 57.7876 Cr |
| 2021-03-31 | 0.42 Cr | 107.80 Cr | 51.48 Cr | 56.3164 Cr | 9.87 Cr | 9.44 Cr | 40.01 Cr | 29.00 Cr | -0.14 Cr | 0.00 Cr | 0.03 Cr | 46.2015 Cr |
Annual Financials Cash Flow Statement
| Date | Operating Cash | Investing Cash | Financing Cash | Free Cash | Cash Change | Cash at End | CapEx | Income | Debt Repay | Dividends | Inventory |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 2025-03-31 | 29.9746 Cr | -83.3501 Cr | 48.6738 Cr | -52.3508 Cr | -4.7017 Cr | 0.3779 Cr | -82.3254 Cr | 31.0175 Cr | 56.4513 Cr | -3.1555 Cr | -48.1720 Cr |
| 2024-03-31 | 10.3792 Cr | -23.3010 Cr | 16.7185 Cr | -22.6476 Cr | 3.7967 Cr | 5.0796 Cr | -33.0268 Cr | 26.2529 Cr | 22.3197 Cr | -2.8387 Cr | -8.3494 Cr |
| 2023-03-31 | 24.3496 Cr | -14.2882 Cr | -9.2707 Cr | 20.5747 Cr | 0.7906 Cr | 1.2829 Cr | -3.7749 Cr | 28.0776 Cr | -5.8725 Cr | -1.8916 Cr | -1.5040 Cr |
| 2022-03-31 | 8.3119 Cr | -4.8162 Cr | -3.4239 Cr | 4.2780 Cr | 0.0719 Cr | 0.4923 Cr | -4.0339 Cr | 9.8193 Cr | 0.7219 Cr | -1.8825 Cr | -10.0378 Cr |
| 2021-03-31 | 12.3548 Cr | -3.3154 Cr | -9.2409 Cr | 7.4562 Cr | -0.2015 Cr | 0.4204 Cr | -4.8986 Cr | 5.2819 Cr | -5.7571 Cr | -0.5639 Cr | -2.5190 Cr |
Quarterly Financial Income Report
| Date | Revenue | Co.Rev | GP | GPR | Operating Income | Net Income | EPS | EBITDA | NIR |
|---|---|---|---|---|---|---|---|---|---|
| 2025-12-31 | 153.36 Cr | 122.09 Cr | 31.27 Cr | 0.2039 | 5.63 Cr | 1.47 Cr | 0.93 | 9.91 Cr | 0.0096 |
| 2025-09-30 | 147.49 Cr | 118.31 Cr | 29.18 Cr | 0.1978 | 5.42 Cr | 2.03 Cr | 1.28 | 9.70 Cr | 0.0137 |
| 2025-06-30 | 111.50 Cr | 76.98 Cr | 34.52 Cr | 0.3096 | 0.32 Cr | -1.42 Cr | -0.90 | 4.53 Cr | -0.0128 |
| 2025-03-31 | 180.35 Cr | 122.13 Cr | 58.23 Cr | 0.3228 | 17.22 Cr | 11.71 Cr | 7.42 | 21.85 Cr | 0.0649 |
| 2024-12-31 | 110.56 Cr | 78.61 Cr | 31.94 Cr | 0.2889 | 4.52 Cr | 2.87 Cr | 1.82 | 6.89 Cr | 0.0260 |
Quarterly Financials Balance Sheet
| Date | Cash & Equiv. | Short-Term Inv. | Cash & Short-Term | Net Receivables | Inventory | Total Curr. Assets | PP&E (Net) | Total Assets | Total Liabilities |
|---|---|---|---|---|---|---|---|---|---|
| 2025-09-30 | 3.58 Cr | 6.05 Cr | 9.63 Cr | 118.87 Cr | 118.70 Cr | 270.33 Cr | 150.86 Cr | 426.40 Cr | 305.63 Cr |
| 2025-06-30 | 0.00 Cr | 0.00 Cr | 4.42 Cr | 0.00 Cr | 0.00 Cr | 0.00 Cr | 0.00 Cr | 0.00 Cr | -123.71 Cr |
| 2025-03-31 | 0.38 Cr | 6.10 Cr | 6.48 Cr | 93.96 Cr | 108.08 Cr | 221.81 Cr | 137.13 Cr | 367.72 Cr | 244.02 Cr |
| 2024-12-31 | 0.00 Cr | 0.00 Cr | 4.69 Cr | 0.00 Cr | 0.00 Cr | 0.00 Cr | 0.00 Cr | 0.00 Cr | -109.32 Cr |
| 2024-09-30 | 1.05 Cr | 5.37 Cr | 6.42 Cr | 87.50 Cr | 64.02 Cr | 169.27 Cr | 103.11 Cr | 284.30 Cr | 174.98 Cr |
Quarterly Financials Cash Flow Statement
| Date | Net Income | Operating Cash Flow | Investing Cash Flow | Financing Cash Flow | Net Cash Change | Cash at End | Cash at Beginning | CapEx | Free Cash Flow |
|---|---|---|---|---|---|---|---|---|---|
| 2025-06-30 | -1.42 Cr | 0.00 Cr | 0.00 Cr | 0.00 Cr | 0.00 Cr | 0.00 Cr | 0.00 Cr | 0.00 Cr | 0.00 Cr |
| 2025-03-31 | 11.71 Cr | 0.00 Cr | 0.00 Cr | 0.00 Cr | 0.00 Cr | 0.00 Cr | 0.00 Cr | 0.00 Cr | 0.00 Cr |
| 2024-12-31 | 2.87 Cr | 0.00 Cr | 0.00 Cr | 0.00 Cr | 0.00 Cr | 0.00 Cr | 0.00 Cr | 0.00 Cr | 0.00 Cr |
| 2024-09-30 | 4.82 Cr | 0.00 Cr | 0.00 Cr | 0.00 Cr | 0.00 Cr | 0.00 Cr | 0.00 Cr | 0.00 Cr | 0.00 Cr |
| 2024-06-30 | 3.71 Cr | 0.00 Cr | 0.00 Cr | 0.00 Cr | 0.00 Cr | 0.00 Cr | 0.00 Cr | 0.00 Cr | 0.00 Cr |
Splits History
| Date | Label | Split Ratio |
|---|---|---|
| No split history data available. | ||
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Key Executives
Chief Financial Officer
Ankit Patel
Gender: male
Year Born: 1988
Product Head of Continuous Sandwich Panels Division
Deep Rajendrabhai Patel
Gender: male
Year Born: 1999
Divisional Head of Commercial Refrigeration Division
Devarsh Chandrakantbhai Patel
Gender: male
Year Born: 2000
HR Head
Hiren Limbachiya
Gender: male
Year Born:
Plant Head of Transport Refrigeration Division
Ketul Vipulbhai Patel
Gender: male
Year Born: 1999
Company Secretary & Compliance Officer
Mandar Desai
Gender: male
Year Born: 1992
QA & QC Head
Prabhu Vanol
Gender: male
Year Born:
Co-Founder, Joint MD & Director
Rajendra Popatbhai Patel
Gender: male
Year Born: 1970
Co-Founder, Joint MD & Director
Vipulbhai Ishwarbhai Patel
Gender: male
Year Born: 1975
Co-Founder, Chairman & MD
Chandrakant Popatbhai Patel
Gender: male
Year Born: 1968
FAQs about Ice Make Refrigeration Limited
Who is the CEO of the company?
The CEO is Srinivas Reddy.
What is the current market price of the stock?
The current price is ₹828.35.
What is the 52-week price range?
The range is ₹592-1088.75.
What is the market capitalization of the company?
The market capitalization is ₹1,307.11 crores.
What is the dividend yield?
The dividend yield is 0.27%.
What is the Price-to-Earnings (P/E) ratio?
The P/E ratio is 94.82.
Which sector does the company belong to?
The company operates in the Industrials sector.
What does the company do?
Overview of Ice Make Refrigeration Limited (ISIN: INE520Y01019) is a leading Industrial - Machinery in India. With a market capitalization of ₹1,307.11 crores and an average daily volume of 30,413 shares, it operates in the Industrial - Machinery. The company last declared a dividend of ₹2.25.