Ice Make Refrigeration Ltd. · NSE:ICEMAKE
Ice Make Refrigeration — Investor Presentation (November 2026)
33 slides from Ice Make Refrigeration's investor presentation, November 2026
Slide 1: Built for Today. Scaled for Tomorrow.
Built for Today. Scaled for Tomorrow. Investor Presentation 2025-26
Slide 2: Safe Harbor Statement
SAFE HARBOR STATEMENT In line with our commitment to ‘Built for Today. Scaled for Tomorrow’, this presentation has been prepared by Ice Make Refrigeration Limited (‘the Company’), solely for informational purposes. It does not, in any way, constitute an offer, recommendation, or invitation to purcha
Slide 3: Company Overview
COMPANY OVERVIEW 3
Slide 4: Chairman's Message
CHAIRMAN’S MESSAGE India’s cold-chain ecosystem is poised for significant growth, supported by a resilient economy and increasing investments across logistics, organized retail, food processing, pharmaceuticals, agriculture and warehousing. These sectors are driving strong demand for advanced cold-c
Slide 5: A Year of Scale, Diversification and Expanding Reach
A YEAR OF SCALE, DIVERSIFICATION AND EXPANDING REACH Financial Strength | Standalone Numbers ` 668.41 Crores 6.54% 1.63% Revenue EBITDA Margin PAT Margin ` 43.73 Crores ` 10.89 Crores ` 6.90 EPS EBITDA PAT Customer and Market Reach Operational Excellence People and Responsibility 26,000+ 5 1,249+ Cu
Slide 6: About the Company
ABOUT THE COMPANY Established in 1993, Ice Make Refrigeration Limited (also referred to as ‘Ice Make’ or ‘the Company’) has evolved from its refrigeration roots into a diversified provider of Mission Vision high-quality, energy-efficient Dedicatedly produce high-quality Create the Ice Make brand an
Slide 7: Revenue Contribution by Business Verticals
REVENUE CONTRIBUTION BY BUSINESS VERTICALS 42% 9% Cold Rooms Ammonia Refrigeration and Projects 6% 14% Transport Commercial Refrigeration Refrigeration 12% 3% 14% Commercial Freezers Industrial Continuous PUR/PIR Refrigeration Sandwich Panels 7
Slide 8: Industry-wise Revenue
INDUSTRY-WISE REVENUE Industries Served Industry-Wise Share Dairy Hospitality 30-40% Dairy and Ice Cream Food Processing Cold Chain 15-20% Food Processing and Hospitality Ice Cream Pharmaceuticals 15-20% Pharma and Chemicals Agriculture Hospitals 5-7% Retail Logistics E-Commerce 3-5% Logistics 8
Slide 9: Milestones That Built Our Foundation
MILESTONES THAT BUILT OUR FOUNDATION 1989-2011 2013-2016 2017-2019 2020-2023 2024-2026 1989 2013 2017 2020 2024 Began operations in a small Secured BS OHSAS 18001:2007 Secured MSE 1 ratings by CRISIL Launched a tailored freeze dryer for Unveiled a new facility in Bavla, workshop, specializing in cer
Slide 10: Presence Across the Nation and Beyond Borders
PRESENCE ACROSS THE NATION AND BEYOND BORDERS Branch Dealers, Offices in India Associates and OEMs Delhi Jammu Jammu Jaipur Bikaner Kolkata Indore Jodhpur Ghaziabad Sonipat Surat Lucknow Bikaner Lucknow Mumbai Pune Guwahati Patna Kolhapur Delhi Raipur Company Goa Jaipur Jodhpur Representatives Hubba
Slide 11: Presence Across the Nation and Beyond Borders
PRESENCE ACROSS THE NATION AND BEYOND BORDERS Global Presence Presence of Nepal UAE Japan across 21 Countries Dealers, Associates Maldives Bahrain and OEMs Outside Canada USA India Japan Canada USA Qatar Australia Nepal Algeria Sierra Leone Nigeria USA Republic of the Congo Zambia Algeria Uganda Ken
Slide 12: Strengthening Scale Through Financial Growth
STRENGTHENING SCALE THROUGH FINANCIAL GROWTH Standalone Revenue (` lakhs) EBITDA Margin (%) Net Worth (` lakhs) EPS (₹) 66,840.73 6.54 13,605.47 6.90 2025-26 66,840.73 2025-26 6.54 2025-26 13,605.47 2025-26 6.90 2024-25 47,322.24 2024-25 9.11 2024-25 12,839.58 2024-25 14.72 2023-24 37,057.95 2023-24
Slide 13: Consolidated Numbers for Q4
CONSOLIDATED NUMBERS FOR Q4 Revenue (₹ lakhs) EBITDA Margin (%) 25,584.64 8.50 Q4 March 31, 2026 25,584.64 Q4 March 31, 2026 8.50 Q4 March 31, 2025 18,035.49 Q4 March 31, 2025 12.08 EBITDA (₹ lakhs) PAT Margin (%) 2,176.91 3.95 Q4 March 31, 2026 2,176.91 Q4 March 31, 2026 3.95 Q4 March 31, 2025 2,18
Slide 14: Enabling Businesses Across Diverse Sectors
ENABLING BUSINESSES ACROSS DIVERSE SECTORS Ḍ Ḍ Ḍ Ḍ Ḍ Ḍ Ḍ Ḍ Ḍ Ḍ Ḍ Ḍ Ḍ Ḍ Ḍ Ḍ 14
Slide 15: Creating Incremental Value
CREATING INCREMENTAL VALUE Expanding into Quick Commerce Strengthening Presence across Improving Cost Efficiency and and City-Based Fulfilment Organized Retail and Foodservice Execution Readiness Growing quick commerce and Modular cold rooms and plug-and- Selective backward integration and modern fo
Slide 16: Solutions Designed for Evolving Market Needs
SOLUTIONS DESIGNED FOR EVOLVING MARKET NEEDS Key Features Customized Chest Freezers for Quick Commerce and Dark Stores Plug-and-Play Design Robust and Enables ready-to-use Compact Build The rapid expansion of quick solutions adaptable across Combines durable food categories with precise commerce and
Slide 17: Solutions Designed for Evolving Market Needs
SOLUTIONS DESIGNED FOR EVOLVING MARKET NEEDS Key Features Visi Coolers Ice Make’s IMVC series of Visi Coolers Wide Model Range Precise combines efficient storage with Available across the Temperature Control IMVC-300 to IMVC-1100 Maintains temperatures product visibility, supporting the range to sui
Slide 18: Solutions Designed for Evolving Market Needs
SOLUTIONS DESIGNED FOR EVOLVING MARKET NEEDS Key Features Continuous PUR/PIR Sandwich Panels Superior Thermal Multiple Material and Ice Make manufactures Continuous Insulation Finish Options Provides excellent thermal Offers pre-painted steel, PUR/PIR Sandwich Panels using insulation with weather-ti
Slide 19: One Platform. Diverse Cooling Capabilities.
ONE PLATFORM. DIVERSE COOLING CAPABILITIES. 19
Slide 20: Commercial Refrigeration
ONE PLATFORM. DIVERSE COOLING CAPABILITIES. 1993 Year of Commencement Commercial Refrigeration Maintains product freshness and cold conditions through Primary Purpose standardized temperature control Temperature Range Operates within a standard controlled temperature range Key Features Enables direc
Slide 21: Cold Rooms and Storage
ONE PLATFORM. DIVERSE COOLING CAPABILITIES. 2002 Year of Commencement Cold Rooms and Storage Keeps perishable products chilled or frozen to prevent Primary Purpose product degradation Temperature Range Operates across a temperature range of 15°C to -40°C Key Features Offers modular and custom-built
Slide 22: Industrial Refrigeration
ONE PLATFORM. DIVERSE COOLING CAPABILITIES. 2003 Year of Commencement Industrial Refrigeration Supports large-scale controlled storage and temperature Primary Purpose management Temperature Range Operates within a standard controlled temperature range Key Features Enables ice-water cooling with ener
Slide 23: Transport Refrigeration
ONE PLATFORM. DIVERSE COOLING CAPABILITIES. 2012 Year of Commencement Transport Refrigeration Primary Purpose Maintains temperature control during transportation Temperature Range Operates across a temperature range of 15°C to -25°C Key Features Enables low-maintenance and energy-saving operation Ma
Slide 24: Solar Cold Rooms
ONE PLATFORM. DIVERSE COOLING CAPABILITIES. 2018 Year of Commencement Solar Cold Rooms Primary Purpose Enables cold storage powered by renewable energy Temperature Range Operates at a temperature of 4°C and higher Key Features Enables solar-powered operation with backup support Materials Used Uses t
Slide 25: Ammonia Refrigeration
ONE PLATFORM. DIVERSE COOLING CAPABILITIES. 2018 Year of Commencement Ammonia Refrigeration Serves cooling applications across food, dairy, ice cream Primary Purpose and beverage industries Temperature Range Operates across a temperature range of 10°C to -22°C Key Features Delivers cost-efficient op
Slide 26: Vertical-wise Sales
VERTICAL-WISE SALES 12 3 2 17 14 42 2025-26 (%) 8 2024-25 (%) 51 9 3 6 3 16 14 Cold Commercial Industrial Transport Ammonia Refrigeration Continuous PUR/PIR Commercial Rooms Refrigeration Refrigeration Refrigeration and Projects Sandwich Panels Freezers 26
Slide 27: Zone-wise Sales
ZONE-WISE SALES 2 2 3 3 13 18 13 14 15 2025-26 (%) 11 2024-25 (%) 55 51 East West North South National Dealers Export 27
Slide 28: Awards
AWARDS 01 Indian Leadership Award for Industrial Development All India Achievers Foundation, 2011 Best Medium Enterprise (Manufacturing) 02 Canara Bank, 2014 Skoch Achiever Award 03 Skoch Group, 2014 Awards and Accolades ‘India 100 SME’ Award 04 India SME Forum, 2017 Recognition for the 2017-18 Annu
Slide 29: ESG Initiatives
ESG INITIATIVES Environment Social Governance Ice Make continues to strengthen Ice Make’s social responsibility initiatives focus Strong governance practices underpin Ice environmental stewardship through on community development, employee Make’s long-term growth, stakeholder efficient operations an
Slide 30: Board of Directors
BOARD OF DIRECTORS Mr. Chandrakant P. Patel Mr. Rajendra P. Patel Mr. Vipul I. Patel Chairman and Managing Director Joint Managing Director Joint Managing Director Age: 58 Years Age: 56 Years Age: 51 Years Co-Founder and Promoter Director Co-Founder and Promoter Director Co-Founder and Promoter Dire
Slide 31: Board of Directors
BOARD OF DIRECTORS Ms. Darsha R. Kikani Mr. Harshadrai P. Pandya Mr. Krishnakant L. Patel Independent Director Independent Director Independent Director Age: 69 Years Age: 76 Years Age: 68 Years Qualified Company Secretary and Engineer/Technical Expert Businessman Management Professional Brings over
Slide 32: Next Generation Leaders
NEXT GENERATION LEADERS Mr. Ketul Vipulbhai Patel Mr. Deep Rajendrabhai Patel Mr. Devarsh Chandrakantbhai Patel Divisional Head - Transport Refrigeration Product Head - Continuous PUR/PIR Divisional Head - Commercial Refrigeration and Cold Room Sandwich Panels Age: 27 Years Age: 27 Years Age: 26 Yea
Slide 33: Ice Make Refrigeration Limited
ICE MAKE REFRIGERATION LIMITED 226, Dantali Industrial Estate, on Gota Vadasar Road, near Ahmedabad City, Dantali, Kalol, Dist.: Gandhinagar - 382 721, Gujarat, India CIN: L29220GJ2009PLC056482 Website: www.icemakeindia.com Phone: +91-98 7910 7881 (Ext: 220/221) Email: [email protected] cs@i
Ice Make Refrigeration — Investor Presentation (November 2026) on 6ix