Skip to main content

ICE Make Refrigeration Q3FY23 net profit jumps 248% to Rs 4.43cr

 

Revenue rises 36.47% to Rs 66.68 crore.



Ice Make Refrigeration Limited (Ice Make), a leading supplier of innovative cooling solutions and manufacturer of 50 plus refrigeration equipments in India, reported robust earnings results for the third quarter and nine months ended December 31, 2022.  

Consolidated Financial Performance: Q3FY23

The Company’s consolidated net profit for Q3FY23 increased by 248.82% to Rs 4.43 crore as against Rs 1.27 crore during the previous quarter ended Q3FY22.

Consolidated revenue increased by 36.47% to Rs 66.68 crore in Q3FY23 as against Rs 48.86 crore during the previous quarter ended ended Q3FY22.

Strong control over cost improved profitability significantly. As against an EBITDA of Rs 3.07 crore in Q3FY22, company’s EBITDA in Q3FY23 jumped to Rs 7.46 crore. Higher scale, control over expenses and better realizations resulted in strong growth in operating profits.

During the quarter EBITDA margins almost doubled to 11.16% as against 6.27% in the corresponding quarter last fiscal.

Consolidated Financial Performance: 9MFY23

During the first nine months of FY23, the company recorded robust 53.8% year on year growth in revenue to Rs 198.65 crore as against Rs 129.19 crore revenue in the first nine months of FY22.

Maintaining good profitability, Company’s EBITDA in 9MFY23 stood at Rs 20.35 crore witnessing a growth of 227.4% on a year-on-year basis. EBITDA margins in this period stood at 10.2% recording almost 543 basis points improvement compared to 4.80% in the corresponding period of last fiscal.

Further, a good 11% year on year drop in interest cost helped in higher profits. During 9MFY23, company’s net profit jumped nearly 583.7% to Rs 12.17 crore as against Rs 1.78 crore in 9MFY22.

Mr Chandrakant Patel, Chairman and Managing Director, Ice Make Refrigeration Ltd said “Strong demand and recovery in the end market has led to robust growth in our revenue and profitability. Post Covid-19 demand for our products has recovered significantly. The company continues to capitalise on strong demand to deliver higher growth and better profitability. Strong control over cost resulted in higher profitability in the first nine months of fiscal 2023 cost of goods sold as a percent of revenue stood at 70.27% as against 72.61% in the corresponding quarter last year”

 

 

Comments

Post a Comment

Popular posts from this blog

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

Prachay Capital’s Public Issue of Secured NCDs Lists on BSE Platform

Prachay Capital Limited, an RBI-registered Non-Banking Financial Company – Investment and Credit Company (NBFC-ICC), has officially listed its Secured, Rated, Redeemable Non-Convertible Debentures (NCDs) on the BSE Limited, unlocking new investment opportunities. The company successfully closed its public issue with an impressive 106% subscription, highlighting strong investor confidence. The issue, which opened on February 28, 2025, aimed to raise Rs 50 crore (excluding the greenshoe option) and closed on March 13, 2025. This landmark listing reinforces Prachay Capital’s commitment to providing stable, high-yield investment opportunities in the fixed-income sector, even amid volatile equity market conditions. The BBB-/Stable-rated NCDs by CRISIL, offering an attractive 13% per annum return with monthly interest payouts, present a compelling option for investors seeking secure fixed-income avenues. The listing event was graced by Ketan Jantre, Head of Trading Operations, BSE; Giri...
Post a Comment
Read more

Skydo receives Amazon Payment Service Provider (PSP) approval to Simplify Cross-Border Payments for Indian Exporters

Skydo, a leading cross border payments platform has received Payment Service Provider (PSP) approval from Amazon. This makes Skydo one of the first homegrown platforms to offer seamless international payments for lakhs of Indian exporters selling on Amazon global marketplaces. With this, exporters on Amazon can receive their international payouts through Skydo in a secure and cost-effective manner. Skydo is partnered with HDFC Bank and compliant with RBI regulations. Through their payment solutions, Skydo has already empowered over 10,000 Indian exporters to receive their international payments seamlessly. Amazon has recently announced plans to enable over USD 80 billion in cumulative e-commerce exports from India by 2030, quadrupling its earlier pledge of USD 20 billion by 2025. This highlights the robust demand for ‘Made in India’ products and the crucial role of payment service providers like Skydo in processing international payments for India’s rapidly growing exports. As part of ...
Post a Comment
Read more