Ice Make H1FY19 Net Profit Rises 23.12 % to Rs 2.63 Crores Total Revenue up 40% to Rs 56.38 Crores


By K Ashwin Mobile: 09920183006

Ice Make Refrigeration Limited (Ice Make), one of the leading manufacturer & supplier of cooling solutions equipment, has announced its financial results (Standalone & Consolidated) for the first half year ended September 30, 2018.

· The Company’s net profit for H1FY19 rose by Rs 23.12% to Rs 2.63 Crore compared to Rs 2.14 Crores posted in H1FY18 (Standalone).

· The Company’s total revenue grew by 40.40% to Rs. 56.38 Crore as compared to Rs 40.26 Crores reported in the corresponding period of H1FY18 (Standalone).

· During the period company is able to achieve EBIDTA margin of 8.81 % as compared to 12.29% for H1 FY’18. Earnings per share stood at Rs. 1.68 per share for the period under reporting (Standalone).

Mr Chandrakant P. Patel, Chairman and Managing Director, Ice Make Refrigeration Limited, commenting of the robust financial performance said, “The Company continues to deliver strong financial performance on account of positive business environment driven by overall economic growth of Indian Economy, especially pharma, diary, logistic, retail and food sectors. The demand for cooling solutions, specially frozen & chilled products among the consumers has been increasing due to change in lifestyle and rapid urbanization. In addition, rapid growth in the organized retail sector, such as increase in number of hypermarkets, supermarkets and food parks further boosts the overall sales prospects of commercial refrigerators; thereby leading to the growth in the market share. Conversely, advancements in technology and rise in the number of quick service restaurants are expected to provide numerous opportunities for our market growth”

With the recent initiatives such as launch of innovative & affordable solar cold rooms and foray into Ammonia Refrigeration Equipment manufacturing, turnkey projects management, project engineering and execution, has now made Ice Make one-stop-cooling solution provider with expertise in Equipment Manufacturing, Project Engineering and Project Management for Dairy, Pharma, Beverage, Fruits &Vegetables, Horticultural Industries, Food and Process Industries among others” Mr Patel added.

The Company will hold H1FY19 Earnings Conference Call to discuss the results on Monday 12th November 2018 at 4.00 PM.

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