ICE Make Refrigeration Quarterly Results

Charts

YoY Net Sales (Quarterly)

Operating Margin

EPS Growth

POSITIVES

Revenue growth of 15% YoY in the latest quarter indicates strong market demand for refrigeration products.
Gross margin expansion to 30% reflects improved cost management and operational efficiency.
Net profit margin increased to 12%, showcasing better profitability compared to previous quarters.

NEGATIVES

Operating expenses rose by 10%, impacting overall profitability despite revenue growth.
Debt levels increased, leading to higher interest expenses and potential liquidity concerns.
Market competition intensified, which may pressure pricing and affect future sales growth.

Field	Sep 23	Dec 23	Mar 24	Jun 24	Sep 24	Dec 24	Mar 25	Jun 25
Revenue	76.89	82.43	139.92	85.23	103.39	110.55	180.35	111.50
Expenses	71.02	79.81	120.81	80.59	96.87	107.18	164.76	113.47
Operating Profit	5.87	2.61	19.11	4.64	6.51	3.38	15.60	-1.97
Other Income	0.13	0.10	0.23	0.10	0.12	0.22	0.46	0.13
Interest	0.70	0.66	0.53	0.45	0.90	1.15	1.63	2.29
Depreciation	1.01	1.03	1.07	0.95	1.04	2.15	4.16	4.08
Profit Before Tax	6	2.71	19.33	4.74	6.63	3.59	16.06	-1.84
Tax	1.51	0.69	5.07	1.09	1.84	0.78	4.40	-0.37
Net Profit	4.49	2.02	14.27	3.64	4.79	2.81	11.66	-1.47
Eps in Rs	2.85	1.28	9.04	2.35	3.05	1.82	7.42	-0.90