BusinessAdmin11/14/2025
Hyderabad, 13 November 2025: Ice Make Refrigeration Limited (NSE: ICEMAKE), a leading provider of innovative cooling solutions across industrial, commercial, and dairy sectors, announced its financial results for the quarter ended September 30, 2025. The Company reported strong revenue growth and a sequential return to profitability, underscoring improved demand and operational recovery.
Key Standalone Financial Highlights (Q2 FY26)
| Metric | Q2 FY26 | Q1 FY26 | Q2 FY25 |
|---|---|---|---|
| Revenue from Operations | INR 148.70 crore | INR 111.86 crore | INR 101.38 crore |
| Profit Before Tax (PBT) | INR 1.97 crore | (INR 1.79 crore) loss | INR 6.72 crore |
| Profit After Tax (PAT) | INR 1.45 crore | (INR 1.39 crore) loss | INR 4.89 crore |
Key Standalone Financial Highlights (Q2 FY26)
| Metric | Q2 FY26 | Q1 FY26 | Q2 FY25 |
|---|---|---|---|
| Revenue from Operations | INR 147.49 crore | INR 111.50 crore | INR 103.39 crore |
| Profit Before Tax (PBT) | INR 2.77 crore | (INR 1.84 crore) loss | INR 6.63 crore |
| Profit After Tax (PAT) | INR 2.02 crore | (INR 1.47 crore) loss | INR 4.79 crore |
Strong Revenue Growth and Profitability Turnaround
In Q2 FY26 (Standalone), Revenue from Operations rose to INR 148.70 crore, registering 47% year-on-year and 33% quarter-on-quarter growth. The Company reported a PBT of INR 1.97 crore, compared to a loss of INR 1.79 crore in Q1 FY26. PAT improved to INR 1.45 crore, reversing the INR 1.39 crore loss recorded in the previous quarter.
On a Consolidated basis, Revenue from Operations stood at INR 147.49 crore, reflecting 43% year-on-year and 32% quarter-on-quarter growth. Consolidated PBT improved to INR 2.77 crore from a loss of INR 1.84 crore in Q1 FY26, while PAT recovered to INR 2.02 crore compared to a loss of INR 1.47 crore in the previous quarter.
Management Commentary
Mr. Chandrakant P. Patel, Chairman and Managing Director, said:
“The second quarter reflects a strong recovery driven by improved market traction across our core business segments. Our return to profitability on a sequential basis is encouraging and underscores the impact of our operational discipline and customer-focused execution. We remain confident of delivering profitable growth in the coming quarters through our multi-pronged expansion strategy.
With a robust order book of over INR 160 crore, an expanding product portfolio, and a clear long-term roadmap, we are committed to supporting India’s rising need for energy-efficient and sustainable refrigeration infrastructure across agriculture, food processing, healthcare, and logistics sectors. Our focus remains on strengthening operating efficiency, enhancing customer value, and driving responsible growth.”
Business Outlook
Demand is expected to remain strong, supported by the expansion of food processing, dairy value chains, pharmaceuticals, cold chain logistics, and process industries. Ice Make continues to enhance its product capabilities, widen its market reach, and strengthen customer service platforms to sustain long-term growth momentum.