ICE Make Refrigeration Merger & Restructuring Worth ₹35.27 Cr
Ice Make Refrigeration invested ₹35.27 Crore for a 40% stake in its new joint venture, Ice Make Horeca Private Limited, to expand commercial refrigeration offerings.
Ice Make Refrigeration Limited has amended its Articles of Association to incorporate governance rights, investor protections, and terms from a Shareholders Agreement.
Ice Make Refrigeration Limited held an EGM on August 19, 2026. Shareholders approved a preferential issue of 23,67,573 equity shares and the creation of charges on assets.
Ice Make delivered strong 60.4% revenue growth but suffered severe margin contraction to 1.7% due to unpassed raw material costs and aggressive capacity investments.
Ice Make Refrigeration reported Q1 FY27 consolidated revenue of Rs 178.88 crore, a 60.4% YoY increase. The company also announced a proposed Rs 190 crore fundraise.
Ice Make Refrigeration re-appointed three Executive Directors for 36 months and appointed M. I. Prajapati & Associates LLP as Cost Auditor for the upcoming term.
Ice Make Refrigeration Limited will hold a board meeting on August 13, 2026, to consider the company's unaudited standalone and consolidated financial results for the quarter.
Ice Make Refrigeration Limited has called an Extraordinary General Meeting on August 19, 2026. The meeting will address preferential share issuance and amendments to company articles.
Ice Make Refrigeration Limited issued an EGM notice for August 19, 2026, to approve a preferential issue of 23.67 lakh shares worth ₹190.00 Crore. This capital raise follows a new shareholders' agreement.
Ice Make Refrigeration entered into a Shareholders' Agreement with Galilei Holdings and its Promoters. The agreement defines board rights and potential future share acquisitions.
Ice Make Refrigeration approved a preferential issue of shares to non-promoter group allottees. The company also approved the formation of a new Joint Venture.
Ice Make Refrigeration reported FY26 revenue of ₹668cr (+39.3% YoY) and PAT of ₹12.13cr. Management is prioritizing long-term growth and market expansion over short-term profitability.
Ice Make achieved 39% revenue growth in FY26, but aggressive expansion into new verticals significantly compressed margins, causing an earnings miss relative to prior internal guidance.
Ice Make Refrigeration's board recommended a final dividend of ₹2.25 per equity share for fiscal 2026. The record date remains pending until the general meeting is scheduled.
Ice Make Refrigeration reported its FY26 audited financial results and recommended a final dividend of Rs. 2.25 per share. The company achieved consolidated annual revenue of ₹668.20 Crore.
Ice Make Refrigeration scheduled a board meeting for May 29, 2026. Directors will consider audited annual results and a final dividend for the fiscal year.
Ice Make Refrigeration Limited has submitted its quarterly compliance certificate for the period ended March 31, 2026. The certificate, issued by Registrar MUFG Intime India Private Limited, confirms the processing and cancellation of physical share certificates received for dematerialization. This is a routine regulatory filing with no material impact on business operations.