Ice Make Refrigeration Limited (NSE:ICEMAKE)

Ice Make Refrigeration Ratios and Metrics

Market cap in millions INR. Fiscal year is April - March.

Total Valuation

Fiscal Year	Current	FY 2026	FY 2025	FY 2024	FY 2023	FY 2022
Period Ending	Nov 11, 2026	Mar 31, 2026	Mar 31, 2025	Mar 31, 2024	Mar 31, 2023	Mar 31, 2022
Market Capitalization	12,667	10,500	14,206	7,467	4,137	1,525
Market Cap Growth	15.23%	-26.09%	90.26%	80.47%	171.38%	45.74%
Enterprise Value	13,216	12,112	14,971	7,712	4,190	1,609
Last Close Price	702.55	663.27	894.77	468.84	258.86	95.38

Price Ratios

Fiscal Year	Current	FY 2026	FY 2025	FY 2024	FY 2023	FY 2022
Period Ending	Nov 11, 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
PS Ratio	1.60	1.57	2.96	1.97	1.33	0.74
PB Ratio	4.03	7.92	11.48	7.17	5.10	2.47
P/TBV Ratio	4.05	8.00	11.62	7.27	5.20	2.54
P/FCF Ratio	-	-	-	-	20.11	35.64
P/OCF Ratio	99.16	-	47.40	71.94	16.99	18.34

EV Ratios

Fiscal Year	Current	FY 2026	FY 2025	FY 2024	FY 2023	FY 2022
Period Ending	Nov 11, 2026	Mar 31, 2026	Mar 31, 2025	Mar 31, 2024	Mar 31, 2023	Mar 31, 2022
EV/Sales Ratio	1.67	1.81	3.12	2.04	1.34	0.78
EV/EBITDA Ratio	31.60	27.68	35.76	19.13	13.26	11.59
EV/EBIT Ratio	44.17	43.78	43.65	20.86	14.69	14.41
EV/FCF Ratio	-	-	-	-	20.37	37.61

Financial Efficiency

Fiscal Year	Current	FY 2026	FY 2025	FY 2024	FY 2023	FY 2022
Period Ending	Nov 11, 2026	Mar 31, 2026	Mar 31, 2025	Mar 31, 2024	Mar 31, 2023	Mar 31, 2022
Debt / Equity Ratio	0.44	1.20	0.70	0.26	0.06	0.18
Debt / EBITDA Ratio	3.31	3.56	2.02	0.66	0.15	0.75
Debt / FCF Ratio	-	-	-	-	0.24	2.58
Net Debt / Equity Ratio	0.18	1.18	0.69	0.21	-0.01	0.17
Net Debt / EBITDA Ratio	1.32	3.58	2.04	0.55	-0.04	0.76
Net Debt / FCF Ratio	-2.69	-3.10	-1.63	-0.98	-0.06	2.46
Asset Turnover	1.46	1.53	1.66	2.04	2.20	1.77
Inventory Turnover	3.96	3.71	3.97	4.67	4.33	3.29
Quick Ratio	0.88	0.55	0.50	0.86	0.82	0.59
Current Ratio	1.65	1.17	1.17	1.72	1.70	1.56
Return on Equity (ROE)	5.78%	9.46%	20.11%	28.22%	29.13%	12.41%
Return on Assets (ROA)	3.46%	3.97%	7.40%	12.48%	12.55%	6.00%
Return on Invested Capital (ROIC)	6.84%	8.21%	15.10%	26.64%	27.78%	12.07%
Return on Capital Employed (ROCE)	7.70%	12.60%	19.30%	28.40%	33.10%	16.60%

Yields

Fiscal Year	Current	FY 2026	FY 2025	FY 2024	FY 2023	FY 2022
Period Ending	Nov 11, 2026	Mar 31, 2026	Mar 31, 2025	Mar 31, 2024	Mar 31, 2023	Mar 31, 2022
Earnings Yield	1.11%	1.16%	1.63%	3.52%	5.03%	4.80%
FCF Yield	-1.61%	-4.81%	-3.69%	-3.03%	4.97%	2.81%
Dividend Yield	0.32%	0.34%	0.25%	0.42%	0.69%	1.24%
Payout Ratio	27.96%	29.09%	13.65%	10.81%	9.09%	25.72%
Buyback Yield / Dilution	-3.46%	-	-	-0.09%	-0.08%	-0.17%
Total Shareholder Return	-3.14%	0.34%	0.25%	0.34%	0.60%	1.07%

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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