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ICEMAKEIce Make Refrigeration Limited

Capital Goods · Specialty Industrial Machinery · NSE · as of 2026-07-21 (delayed ~30 min in market hours)

844.00
0.79%
55Decent

Price & Volume

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Key Ratios

Market Cap (₹ cr)1,263.60
P/E103.73
P/B9.50
PEG
ROE %9.46
ROCE %9.70
Debt / Equity1.19
EPS7.72
Revenue Growth %41.90
Profit Growth %-13.60
Dividend Yield %0.28
Promoter Holding %0.00
FII Holding %0.01
DII Holding %
Beta-0.21

“—” means the figure isn't meaningful or isn't published for this company: ROE and Debt/Equity are undefined when shareholder equity is negative (check P/B — negative means negative equity), and DII/MF holding splits aren't provided by our current data source.

Active Pattern Signals

Cup & HandleLONG82%844.00780.10995.302.37
Supertrend BuyLONG70%844.00756.321,019.352.00
HOLDConviction 58%

The picture

  • Revenue growth: 41.9% YoY
  • RSI: 69
  • MACD: bullish
  • Price vs EMA21: above
  • 1-month vs NIFTY: +8.3% relative
  • 3-month vs NIFTY: +6.0% relative
  • Cup & Handle signal (setup quality 82%)
  • Supertrend Buy signal (setup quality 70%)

Bull case

  • Revenue growth: 41.9% YoY
  • RSI: 69
  • MACD: bullish
  • Price vs EMA21: above

Bear case

  • Profit growth: -13.6% YoY
  • ROE: 9.5%
  • Trend strength (ADX): 14
  • Volume trend: 0.7x baseline

Key risks

  • Weak fundamentals — technical strength may not sustain
  • Profit growth: -13.6% YoY
  • ROE: 9.5%

Algorithmic analysis for research only — not SEBI-registered investment advice.

Trade Plan

Entry (CMP)
₹844.00
Stop Loss
₹778.71
risk 7.7%
Target 1 (1.5R)
₹941.93
+11.6%
Target 2 (3R)
₹1,039.87
+23.2%
Support (20d)
₹736.10
Resistance (52w)
₹920.00
Risk : Reward
1 : 1.5 → 1 : 3
risking ₹65.29/share
ATR (volatility)
₹26.12
avg daily range

Stop = 20-day support with a 2.5×ATR risk cap (ATR ₹26.12). Levels recompute on every data refresh. Position sizing and execution are yours — this is analysis, not advice.

Score Breakdown

Fundamental
29
Technical
76
Momentum
66
Risk (safety)
49

Peers — Capital Goods

ADOR 7.88%
81
KSHINTL 1.30%
79
DIACABS 10.00%
78
INOXINDIA 4.32%
77
AARVI 3.51%
77
MMFL 4.13%
77

About

Ice Make Refrigeration Limited, together with its subsidiaries, manufactures and supplies refrigeration products and equipment under the Ice Make, Bharat, and TransFreez brands in India. The company offers cold storage products, including modular, combi, walk-in, custom-built, and solar cold rooms, as well as blast freezers and chillers, glass door display chillers, ripening chambers, cold room PUF panel and accessories, and cold room refrigeration units; and chest freezers and visi coolers. It also provides commercial refrigeration consisting of dairy processing plant solutions; curd incubation and mortuary chambers; ice cream plants; bulk milk chillers; batch pasteurizers; ageing vat; ice candy production machines; ice cream hardeners; mini blast freezers and chillers; heat pump food dehydrators; vacuum freeze dryers; and commercial, reach-in, and merchandising freezers. In addition, the company offers continuous sandwich PUF panels; industrial refrigeration products, including chilling plants and ice building tanks; transport refrigeration products comprising refrigerator, eutectic mobile, dry insulated, and MS corrugated refrigerated containers; and ammonia refrigeration products, such as turnkey projects for cold storages, and glycol and water chillers. It sells its products through dealers. The company exports its products to approximately 24 countries. It serves the dairy, agriculture, cold chain, food processing, retail, pharmaceutical, ice cream, hospitality, hospital, logistics, chemical, and e-commerce industries. Ice Make Refrigeration Limited was founded in 1989 and is headquartered in Gandhinagar, India.