Ice Make Migrates to NSE Main board

Eyes steady growth in Covid-hit FY21

Ice Make Refrigeration Limited (Ice Make), leading supplier and manufacturer of cooling solutions, which is now traded in the main board of the National Stock Exchange (NSE) - is eying steady growth in this Covid-19 disrupted financial year.

 “We are confident of neutralizing disruptive effects of Covid and focused on at least reaching the top-line of last year, which stood at Rs 136 crore.  The company’s order book which currently stands at about Rs. 37.21 Crore is growing at a decent pace post the unlock. In the last four months Ice Make has already picked up around 19.10% sales growth and 22.17% order book growth led by strong pent up demand in multiple product segments including –dairy, pharmaceutical and exports. The improvement in export business has been due to our aggressively focused efforts in the last two years” informed Mr. Chandrakant Patel, CMD, Ice Make Refrigeration Limited.

 He further said “This year everyone has faced unprecedented situation and Ice Make is not an exception to the business challenges posed by ongoing Covid-19 global pandemic. However, I must reiterate that we are successfully adapting and dealing with it. We are confident that we will overcome from this situation in near term. As things have begun to become normal, we are ready to recapture the lost ground within this financial year itself”.

 

Given the realities of the changing global business environment and Indian capital markets, what ICE Make is focused on to achieve is steady growth which is translated into a strong stakeholders value creation in the medium to long term. 

 

In December 2017, we began our capital market journey with a record subscription and stellar response to our maiden IPO. Now with continued patronage and unstinted support of our stakeholders, which we deeply value, Ice Make now (from 12 Oct 2020) migrated to the main board of NSE” Mr. Patel added.

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 About Ice Make Refrigeration Ltd

Ice Make has been successfully satisfying the needs of its customers, from production to after-sales service, since 1989. The Company is engaged in the business of providing customized cooling solutions to diverse set of clients across wide range of industries by manufacturing and supply of 50 plus high quality refrigeration products & equipment’s.

 

The Company over the years have received several awards and accolades including Indian Leadership Award for Industrial Development in 2011, Best Medium Enterprise (Manufacturing) by Canara Bank &Skoch Award in 2014, India SME 100Award in 2017 and Gold Award for excellence within its core industry category &2017-18 Vision Award for Annual Report Competition” hosted by the League of American Communications Professionals LLC (LACP) where ICE Make was ranked 27th among the top 100 annual reports globally.