Ice Make Refrigeration Limited (NSE:ICEMAKE)

Ice Make Refrigeration Financials Overview

Financials in millions INR. Fiscal year is April - March.

Revenue & Profits

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Fiscal Year	TTM	FY 2026	FY 2025	FY 2024	FY 2023	FY 2022
Period Ending	Sep 30, 2026	Mar 31, 2026	Mar 31, 2025	Mar 31, 2024	Mar 31, 2023	Mar 31, 2022
Revenue Revenue Growth	7,957	6,682	4,795	3,784	3,122	2,061
Revenue Growth	44.70%	39.35%	26.73%	21.20%	51.49%	53.06%
Gross Profit Gross Profit Growth	2,174	1,936	1,457	1,182	921.01	577.97
Operating Income Operating Income Growth	301.07	276.68	342.99	369.75	285.16	111.68
Net Income Net Income Growth	126.83	121.91	231.1	262.53	208.01	73.2
Earnings Per Share EPS Growth	7.74	7.73	14.65	16.64	13.19	4.65
EPS Growth	-19.25%	-47.25%	-11.97%	26.13%	183.66%	102.17%

Cash & Debt

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Fiscal Year	Current	FY 2026	FY 2025	FY 2024	FY 2023	FY 2022
Period Ending	Sep 30, 2026	Mar 31, 2026	Mar 31, 2025	Mar 31, 2024	Mar 31, 2023	Mar 31, 2022
Cash & Investments Cash & Investments Growth	838.47	17.73	3.78	50.8	60.91	4.92
Total Debt Total Debt Growth	1,392	1,584	859.35	272.49	48.57	110.25
Net Cash (Debt) Net Cash Growth	-553.19	-1,566	-855.57	-221.7	12.34	-105.32
Net Cash Growth	-	-	-	-	-	-
Net Cash Per Share Net Cash Per Share Growth	-33.74	-99.26	-54.22	-14.05	0.78	-6.69

Cash Flow & CapEx

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Fiscal Year	TTM	FY 2026	FY 2025	FY 2024	FY 2023	FY 2022
Period Ending	Sep 30, 2026	Mar 31, 2026	Mar 31, 2025	Mar 31, 2024	Mar 31, 2023	Mar 31, 2022
Operating Cash Flow Operating Cash Flow Growth	128.57	-105.74	299.75	103.79	243.5	83.12
Capital Expenditures CapEx Growth	-334.45	-399.21	-823.25	-330.27	-37.75	-40.34
Free Cash Flow Free Cash Flow Growth	-205.88	-504.95	-523.51	-226.48	205.75	42.78
Free Cash Flow Growth	-	-	-	-	380.94%	-42.63%

Margins

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Fiscal Year	TTM	FY 2026	FY 2025	FY 2024	FY 2023	FY 2022
Period Ending	Sep 30, 2026	Mar 31, 2026	Mar 31, 2025	Mar 31, 2024	Mar 31, 2023	Mar 31, 2022
Gross Margin	27.32%	28.97%	30.39%	31.24%	29.50%	28.04%
Operating Margin	3.78%	4.14%	7.15%	9.77%	9.13%	5.42%
Pretax Margin	2.13%	2.45%	6.47%	9.30%	8.99%	4.76%
Profit Margin	1.59%	1.82%	4.82%	6.94%	6.66%	3.55%
FCF Margin	-2.59%	-7.56%	-10.92%	-5.99%	6.59%	2.08%

Dividends

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Fiscal Year	Current	FY 2026	FY 2025	FY 2024	FY 2023	FY 2022
Period Ending	Nov 12, 2026	Mar 31, 2026	Mar 31, 2025	Mar 31, 2024	Mar 31, 2023	Mar 31, 2022
Dividend Per Share Dividend Per Share Growth	2.250	2.250	2.250	2.000	1.800	1.200
Dividend Per Share Growth	0%	0%	12.50%	11.11%	50.00%	0%
Dividend Yield	0.32%	0.34%	0.25%	0.42%	0.69%	1.24%

Valuation

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Fiscal Year	Current	FY 2026	FY 2025	FY 2024	FY 2023	FY 2022
Period Ending	Nov 12, 2026	Mar 31, 2026	Mar 31, 2025	Mar 31, 2024	Mar 31, 2023	Mar 31, 2022
PE Ratio	90.22	86.13	61.47	28.44	19.89	20.83
P/FCF Ratio	-	-	-	-	20.11	35.64
PS Ratio	1.60	1.57	2.96	1.97	1.33	0.74

Data Source: S&P Global Market Intelligence Last updated: Nov 5, 2026

Financial data is provided by S&P Global Market Intelligence and updates within hours after each earnings release, which is every three months for this company.

Update frequency:

Quarterly

Last checked:

Nov 12, 2026

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