Total
revenue up 27.44% to Rs. 129.58 Cr.
Recommends
Final Dividend of Rs. 1.20 per equity share
Ice Make
Refrigeration Limited (Ice Make), one of the leading manufacturer &
supplier of cooling solutions equipment,
has reported a remarkable financial performance for the financial year ended
March 31, 2019 and the second half of FY19. The revenue for the full year FY19rose by 27.44% to Rs. 129.58 Cr. compared
to Rs.101.68Cr. reported in the
corresponding last financial year of FY18.
The Net Profit for the full year
ended March 31, 2019 grew 18.11% to Rs. 7.83 Cr. compared to Rs 6.63 Cr. posted in FY18.
The Company’s Total Revenue for the
second half year of FY19 grew by 19.18 % to Rs. 73.20 Cr. compared to Rs. 61.42 Cr. reported in the second half year of FY18. The net profit for
this period (H2FY19) rose by 15.72 % to Rs. 5.20 Cr. compared to Rs. 4.49 Cr.
posted in H2 of FY18.
The Board of
Directors of the Company at its meeting held on May 25, 2019 recommended final
dividend of Rs. 1.20 per equity share of Rs. 10/each, for
the financial year ended 31 March 2019.
Commenting of the
financial performance Mr.Chandrakant P. Patel, Chairman & Managing
Director, Ice
Make Refrigeration Limited, said, “The
Company continues to deliver strong financial performance this year as well on
account of continued favorable business environment led by rising demand for
our products and healthy pace of growth in our client industry segments. The
company has strongly focused on innovation and marketing of our unique products
which immensely contributed to the growth in our revenues.The world of
refrigeration and cooling equipment market is evolving rapidly and the company
is adapting fast to benefit from the huge opportunities and meet the
expectations of the shareholders and investors” he said
Other
important highlights
Ø The Company
launched an innovative “Food Dehydration Device for drying various food,
vegetable and fruit related items in suitable heat and temperature.
Ø The
Company forayed into Ammonia Refrigeration Equipment manufacturing and turnkey
projects management, project engineering and execution, making the company a
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 etc.
Ø The Company bagged
two prestigious awards for demonstrating exemplary communications capabilities.
The Company participated in “2017-18
Vision Award Annual Report Competition” hosted by the League of American
Communications Professionals LLC (LACP) and has been ranked 27th
among the top 100 annual reports globally. Besides, it was also conferred with
Gold Award for excellence within its core industry category.
Ø The
Company commissioned its in-house manufacturing facility of condenser coil and evaporator
coil at Dantali, Gandhinagar,
Gujarat, and also upgraded the existing facilities by Installing Laser
Cutting Machine, Upgrading the PUF foaming technologies, adding new models of
Bulk Milk Chillers and carried other ancillary improvements in the system
assembly. The Company in
December 2017 raised Rs 24 crore through initial public offer to part finance
setting up of this plant, backward integration to improve production
efficiencies and upgradation of existing facilities at its plants in
Gujarat and Tamil Nadu, which has been successfully completed as per plan.
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