Skip to main content

ICE MAKE Q2FY23 net profit rises 245% to Rs 4.64 crore

 Top line grows 40% to Rs 67.12 crore

Ice Make Refrigeration Limited (NSE: ICEMAKE),a leading supplier of innovative cooling solutions and manufacturer of 50 plus refrigeration equipment in India, has reported 245.3% growth in its net profit and 40.14%  growth in its revenue for the quarter ended on 30 September 2022.  The Company recorded a net profit of Rs 4.64 Cr in the reporting period as against Rs 1.34 Cr posted in the corresponding quarter of fiscal 2021. The consolidated revenue for Q2FY2023stood at Rs 67.12 cr against Rs 47.90 Cr posted in the corresponding quarter of fiscal 2021.

Mr. Chandrakant Patel, CMD, Ice Make Refrigeration Limited said” Strong demand continued to help deliver robust growth in revenue and profitability jumped significantly in the reporting period of Q2FY23 due to higher scale and cost controls. During the quarter finance cost recorded a steep 56.7% drop on a Year on Year basis to Rs 17.8 lakh while lower operating and fixed cost boosted profits. The Company is reaping the fruits of its strategic initiatives and innovative range of over 50 plus products including our 1st branded solar cold room “SoloPeriFresh”



Additionally the Company has announced significant expansion plans at its Annual General Meeting 2022. During this financial year, the Company is planning to set up aGreenfield  unit at a cost of around Rs. 45 to 50 Crores.  The Company will manufacture Continuous Penals that are used in areas like infrastructure, industrial & residential buildings. The project will be set up in Gujarat and expected to be fully functional in the next 12 to 15 months” Mr Patel said

Consolidated Financial Performance: H1FY23

•      For the half year ended September 2022 the company recorded Rs 131.97 crore revenue. Led by strong recovery and demand from the industry revenue witnessed robust 64.3% growth on a year on year basis.

•      Profitability improved significantly led by cost control and higher sales. In the first half, EBITDA made a threefold jump and EBITDA margins increased to 9.58% in H1FY23 as against 3.6% in H1FY22.

•      Net profit during H1FY23 stood at Rs 7.74 crore as against a profit of Rs 52 lakh in the corresponding period of last fiscal.

The Company offers a complete range of refrigeration solutions such as transport, commercial, industrial, and ammonia refrigeration to diverse sets of industries and sectors of economy including agriculture, milk and dairy, food processing, pharma, healthcare, online food and retail among others. Ice Make’s innovative equipment product range also includes ice cream mix preparation for small and medium scale, specially designed mix plant units. Its chiller product range includes Air Cooled Chiller, Water Cooled Chiller, Liquid Chiller, Brine Chiller, and Screw Chillers.

Comments

Post a Comment

Popular posts from this blog

CARE Ratings shares list at 25% premium on NSE

Credit Analysis and Research Limited (  CARE ) has listed at Rs 940, a 25% premium against its issue price of Rs 750 per share on the National Stock Exchange (NSE). The stock hit a high of Rs 955 and low of Rs 930 so far. A combined 1.41 million shares have changed hands on the counter in opening deals on the NSE and BSE. CARE, the second-largest credit rating agency in India, has raised Rs 540 crore by issuing 7.2 million shares through initial public offer (IPO). The company has fixed the issue price at higher price band at Rs 700-750 per share. The IPO attracted bids for 245.56 million shares against 7.2 million shares on offer, translating to 34.11 times subscription, according to information available in basis of allotment.   The category reserved for qualified institutional buyers (QIBs) was subscribed 43 times, while non-institutional investor’s portion received 110 times subscription. Shares reserved for retail investors got subscribed 6.11 tim...
Post a Comment
Read more

Grab latest cool collectibles in eye wear @ Lawrence & Mayo

Retro-classic look returns to eyewear category with a feast of colours ‘ifest’ offer valid till December 31, 2012 L&M to unveil watches & pens this festive season First-of-its-kind exclusive women’s corporate range of pens November 1, 2012: Welcome this season with a new look that will set trends! Lawrence & Mayo (L&M), India’s most trusted opticians for 135 years, and pioneers in ophthalmic optics & instrumentation, unveils the new look for Festive season 2012. Get the latest cool collectibles from Ray Ban, Oakley and Maui Jim from any of the 89 L&M outlets across India to add a zing to your look this festive season. It’s time to go hep and retro as the old adorable classic styles are back again with the most eclectic and exhaustive range of glasses, glares and contact lenses available at L&M stores. Special kids wear collections and sports wear collections are also available for enthusiasts.  Mr. Vivek Mendonsa, Marketing Director, Law...
Post a Comment
Read more

Country Delight Launches NMR-Tested Honey: The Gold Standard of Purity

  Country Delight continues strengthening its promise of delivering the best purity and quality by launching 100% Pure Farm Honey (NMR Tested) Country Delight, a trusted name in premium and natural essentials, has announced the launch of 100% Pure Farm Honey (NMR Tested). Country Delight’s Farm Honey is Nuclear Magnetic Resonance (NMR) tested by a certified lab in Germany, making it one of the most authentic and reliable kitchen ingredients available to Indian homes. It also undergoes rigorous testing on 36 quality parameters as per FSSAI standards, including physicochemical, antibiotic and microbial, to rule out the presence of added sugars. Honey is not just a natural sweetener; it is increasingly valued for its functional benefits. With Country Delight's NMR-tested honey, consumers can enjoy a product that supports wellness through its natural composition, which is rich in antioxidants and phytonutrients and offers advantages over refined sugars.  Adulteration with cheaper ...
Post a Comment
Read more