ICE Make Refrigeration Ltd
ICE Make Refrigeration Q4 FY25 earnings call: Revenue & Margins
Q4 FY25 earnings call: what management guided on revenue, margins and order book.
The short version
The company targets to reach Rs. The company targets a topline of Rs.
From ICE Make Refrigeration Ltd's Q4 FY25 earnings-call transcript · updated 23 Aug 2026.
Revenue & Sales Performance
- The company targets to reach Rs. 1000 crore revenue by FY’28 with focus on marketing, branding, and maximizing utilization of existing and new verticals.
- New plants are expected to contribute Rs. 150 crore in the current financial year and potentially Rs. 225-250 crore from continuous PUF panels and Rs. 130 crore from commercial freezers at full capacity.
- The company aims for Rs. 650 crore topline with current plants and new expansions.
- Order book stands strong at around Rs. 171 crore, ensuring high revenue visibility.
- Growth is driven by sectors like dairy, pharmaceuticals, food processing, quick commerce, and e-commerce.
- Geographically, growth is strong in Eastern and Southern India, maintaining dominant 51% revenue share from the West.
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Profitability & Margins
See what ICE Make Refrigeration Ltd said on profitability & margins — free account, 30 seconds.
Capital Expenditure Plans
- Current CAPEX of around Rs. 20 crore is focused on modernization and semi-automation of the adjusting facility, mainly for machinery upgrades to improve power quality and workmanship.
- Chennai plant CAPEX is approximately Rs. 10,000 crore (₹100 crore, likely a typo, but exact figure mentioned) and is progressing on schedule, expected to be operational by next quarter.
- Phase 2 CAPEX planned around Rs. 150 crore+, with funding potentially spread over FY’26 and FY’27, focusing on acquisitions, collaborations, and geographical expansion rather than new land or building.
- Internal reshuffling and plant modifications may increase installed capacity without large new CAPEX.
- No current plans for CAPEX related to land acquisition or new plant setup.
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Top-ranked in Industrial Manufacturing
Ranked on what management guided this quarter
Rank buckets describe management commentary on revenue and margin. Not investment advice, and not a forecast of returns.
Fundraising & Capital Structure
See what ICE Make Refrigeration Ltd said on fundraising & capital structure — free account, 30 seconds.
Order Book & Pipeline
- The current pending order book stands strong at approximately Rs. 171 crore.
- This includes significant orders from core and emerging verticals, providing high revenue visibility going into FY’26.
- Pending orders include:
- Rs. 28.5 crore from Jammu and Kashmir horticulture department.
- Two orders worth Rs. 42 crore from West Bengal government.
- Orders from dairy federations, NDTP, reputed food processing industries, and leading global restaurant brands.
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ICE Make Refrigeration Ltd — Quarterly revenue & net profit
Reported quarterly figures (₹ Cr). Latest (Q3 FY26): revenue ₹153 Cr, net profit ₹1 Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.
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What ICE Make Refrigeration Ltd's management said in earlier quarters
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Frequently Asked Questions
What were ICE Make Refrigeration Ltd Q4 FY25 results?
The company targets to reach Rs. The company targets a topline of Rs.
What is ICE Make Refrigeration Ltd share price analysis?
ICE Make Refrigeration Ltd currently shows a neutral. The stock trades at a P/E of 109.1 with a market cap of ₹1,186 Cr. Investors should review the full earnings analysis for detailed insights.
Is ICE Make Refrigeration Ltd planning capital expenditure?
Current CAPEX of around Rs.
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This analysis is AI-generated based on publicly available earnings data and the company's earnings call transcript. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.