Ice Make Refrigeration Limited has submitted to the Exchange, the financial results for the period ended March 31, 2026.
ICEMAKE · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Ice Make Refrigeration reported consolidated revenue of Rs. 66,819.59 lakhs for FY2026, up 39% from Rs. 47,952.19 lakhs in FY2025, driven by strong performance in refrigeration equipment manufacturing. However, profit after tax (PAT) declined significantly to Rs. 1,212.88 lakhs from Rs. 2,290.40 lakhs in FY2025, a drop of about 47%. The decline in profitability is largely due to nearly tripling of finance costs (from Rs. 411.95 lakhs to Rs. 1,259.15 lakhs) and doubling of depreciation charges. The company recommended a final dividend of Rs. 2.25 per share (22.5%). Operating cash flow turned negative at Rs. 1,057.41 lakhs compared to positive Rs. 2,997.46 lakhs last year. The auditor issued an unmodified (clean) opinion on both standalone and consolidated financials.
Despite strong revenue growth, the sharp decline in profitability and negative operating cash flow are concerning signals for shareholders. The significantly higher debt costs and working capital requirements have squeezed earnings, which could weigh on the stock price in the near term.