Hyderabad, May 22, 2025: Ice Make Refrigeration Limited (NSE: ICEMAKE), a leading manufacturer of 50 plus commercial and industrial refrigeration equipment, has reported strong financial results for the fourth quarter and full year ended March 31, 2025.
Financial Highlights
For the quarter ended March 31, 2025 (Q4 FY25), the company reported consolidated revenue from operations of ₹180.82 crore, marking a robust 26.76% year-on-year increase from ₹140.14 crore in Q4 FY24. This is a 29.02% quarter on-quarter sequential growth. EBITDA for the quarter stood at ₹21.85 crore, compared to ₹20.93 crore in the same period last year.
However, EBITDA margin softened to 12.08% from 14.93% on of higher input costs. Profit after tax (PAT) for the quarter was ₹11.66 crore, down from ₹14.27 crore in Q4 FY24, while earnings per share (EPS) stood at ₹7.42 versus ₹9.06 in the previous year’s corresponding quarter.
For the full financial year ended March 31, 2025 (FY25), Ice Make achieved consolidated revenue from operations of ₹480.42 crore, an increase of 26.76% year-on-year compared to ₹379.00 crore in FY24. The company reported EBITDA of ₹43.44 crore in FY25, up from ₹41.39 crore in FY24, although the EBITDA margin slightly declined to 09.04% from 10.92%. The full-year PAT stood at ₹22.90 crore as against ₹26.14 crore in FY24, with a corresponding EPS of ₹14.65 compared to ₹16.64 a year earlier.
The Board of Directors has recommended a final dividend of ₹2.25 per equity share (22.5% of face value ₹10), subject to shareholder approval at the AGM.
Management Commentary
“We are pleased to report a strong close to the year, with a 64% sequential revenue growth in Q4 FY25, demonstrating the strength of our underlying business and recovery in order execution. While we delivered robust revenue growth during FY2025, reaching nearly ₹480 crore, we narrowly missed our internal milestone of ₹500 crore due to delayed execution of certain product order in the 1st 9 months of FY25. These delays, along with the timing mismatch of input costs already ed for, impacted full-year profitability. Despite these headwinds, our operations remained resilient, ed by our strategic investments in innovation, capacity expansion, and a customer-centric approach. We also saw continued momentum in our commercial and industrial refrigeration verticals, including ammonia refrigeration and cold chain solutions. The Board’s recommendation of a final dividend reflects our unwavering commitment to long-term shareholder value and sustainable growth.”— Mr. Chandrakant Patel, Chairman & Managing Director