Strong Finish to FY25: Ice Make Reports 64% Q4 Surge, Reaches 480 Cr. in Revenue in FY25
Strong Finish to FY25: Ice Make Reports 64% Q4 Surge, Reaches 480 Cr. in Revenue in FY25
Mumbai, May 23, 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 account 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.
Mr. Chandrakant Patel, Chairman & Managing Director said
“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 accounted for, impacted full-year profitability. Despite these headwinds, our operations remained resilient, supported 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.”
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 upcoming AGM.
