Ice Make Refrigeration Limited — Investor Meet, 19-02-2026: Analysts/Institutional Investor Meet/Con. Call Updates

Ice Make Refrigeration reported Q3 FY26 consolidated revenue of ₹153.36 Cr, with PAT at ₹1.45 Cr. For 9M FY26, consolidated revenue was ₹412.35 Cr. The company expects to achieve ₹650 Cr revenue for FY26, targeting ₹800-825 Cr for FY27 and ₹1,000 Cr for FY28. Current order book stands at ₹180+ Cr. New verticals like Continuous Panels and Commercial Freezers, which contributed ₹43-45 Cr in Q3, are strategic growth drivers, despite initial margin pressure from expansion. Management is confident of operational optimization, margin stability at 9-10% EBITDA at full capacity, and accelerating PAT growth from next year as capex impact reduces.