Ice Make Refrigeration Q3 FY26 Revenue up 39% to ₹153.36 Crore; Maintains Profitability
Ice Make Refrigeration Limited reported Q3 FY26 consolidated revenue of ₹153.36 crore, a 39% increase year-on-year. PBT was ₹1.90 crore and PAT was ₹1.45 crore. For the nine months ended December 31, 2025, revenue reached ₹412.35 crore. The company has commenced operations in two new verticals.
The report shows significant revenue growth, indicating positive business momentum. However, the decrease in profitability and the explanation for margin pressures introduce some uncertainty, suggesting a medium impact.
The revenue growth is positive, but the decline in PBT and PAT compared to the previous year's quarter, along with commentary on margin pressure due to new verticals and elevated costs, balances the sentiment.
Ice Make Refrigeration Limited has announced its unaudited financial results for the quarter ended December 31, 2025 (Q3 FY26). On a consolidated basis, the company reported a Revenue from Operations of ₹153.36 crore, marking a significant 39% year-on-year growth from ₹110.56 crore in Q3 FY25. Sequentially, revenue saw an improvement from ₹147.49 crore in Q2 FY26 and ₹111.50 crore in Q1 FY26.
Consolidated Profit Before Tax (PBT) for Q3 FY26 stood at ₹1.90 crore, compared to ₹3.59 crore in the same quarter last year. Profit After Tax (PAT) was ₹1.45 crore, down from ₹2.81 crore in Q3 FY25. The Earnings Per Share (EPS) for the quarter was ₹0.93. Despite elevated finance costs and expansion-led depreciation, profitability remained stable.
For the nine months ended December 31, 2025, consolidated Revenue from Operations reached ₹412.35 crore, with PBT at ₹2.83 crore and PAT at ₹2.01 crore.
The company highlighted continued demand across industrial refrigeration, cold chain, HoReCa, and commercial cooling segments. Management noted that while input costs and finance expenses are pressuring margins, the commencement of operations in two new verticals, with a focus on market presence and customer relationships, has impacted overall margins. This strategy is expected to improve as volumes scale up and operating efficiencies increase.
Mr. Chandrakant P. Patel, Chairman & Managing Director, expressed confidence in the company's foundation of innovation and reliability, focusing on building a future-ready organization for sustainable and profitable growth. Mr. M. Srinivas Reddy, Chief Executive Officer, mentioned the company is deepening market presence and strengthening customer engagement through new brand outlets and industry exhibitions.
The Company’s Quarterly Vision Dialogue is scheduled for February 16, 2026, at 3:30 PM IST, to discuss financial performance, strategic direction, and outlook.
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