ICE Make Refrigeration Q2 Results FY27: Revenue Up 40.61% to Rs 207.38 Cr, PAT Rs 2.71 Cr

ICE Make Refrigeration Ltd (ICEMAKE) Q2 Results FY27 announced on 5 November 2026, covering the company's financial performance for the July to September quarter. The ICE Make Refrigeration Q2 Results FY27 record revenue of Rs 207.38 Cr and a PAT of Rs 2.71 Cr on a Consolidated basis. The results date and the consolidated results frame every comparison in this article.

Univest readers can use this ICE Make Refrigeration Q2 Results analysis to walk through the financial highlights, the business drivers, the FY27 outlook and the risks in order. The results analysis begins with the Financial Highlights table placed immediately below.

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ICE Make Refrigeration Q2 Results FY27: Financial Highlights

Metric	Q2 FY27 (Sep 26)	Q2 FY26 (Sep 25)	YoY Change
Revenue	Rs 207.38 Cr	Rs 147.49 Cr	+40.61% YoY
Operating Profit	Rs 9.12 Cr	Rs 9.62 Cr	-5.2% YoY
Net Profit (PAT)	Rs 2.71 Cr	Rs 2.02 Cr	+34.16% YoY

Source: company filing for ICE Make Refrigeration Q2 Results FY27, 5 November 2026. Figures in Rs Crore, Consolidated basis.

Key Takeaways from ICE Make Refrigeration Q2 Results: What Stands Out

• Revenue rose 40.61% YoY to Rs 207.38 Cr from Rs 147.49 Cr, a strong expansion on the top line over the same quarter last year.
• Net profit rose 34.16% YoY to Rs 2.71 Cr from Rs 2.02 Cr on a Consolidated basis, a gain that was slightly slower than the revenue growth.
• Operating Profit was Rs 9.12 Cr, down 5.2% from Rs 9.62 Cr, so the middle profit line moved against the direction of sales and net profit.
• Revenue and net profit moved higher while Operating Profit eased, which the ICE Make Refrigeration Q2 Results FY27 record beside the YoY growth.

ICE Make Refrigeration Q2 Results FY27: Performance Analysis

ICE Make Refrigeration recorded revenue of Rs 207.38 Cr against Rs 147.49 Cr in the same quarter last year, a 40.61% YoY growth. Net profit stood at Rs 2.71 Cr compared with Rs 2.02 Cr, so the quarterly results show growth on the top and bottom lines.

The ICE Make Refrigeration Q2 Results FY27 results analysis shows a mixed picture in the middle of the income statement. Operating Profit slipped 5.2% to Rs 9.12 Cr from Rs 9.62 Cr, while revenue rose 40.61% and net profit rose 34.16%.

Alongside ICE Make Refrigeration Q2 Results, these points lead to the business factors, which is where the results analysis turns next.

Put simply, revenue added Rs 59.89 Cr over the Rs 147.49 Cr base and net profit added Rs 0.69 Cr, while Operating Profit gave up Rs 0.50 Cr. The size of the revenue step is the feature that separates this quarter from the Operating Profit line.

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Key Business Factors This Quarter

Revenue Growth – The results analysis starts with revenue, which grew 40.6% YoY to Rs 207.38 Cr. Within the ICE Make Refrigeration Q2 Results FY27, this gain forms the base on which the profit lines were measured.

Net Profit Growth – Net profit rose 34.2% YoY to Rs 2.71 Cr. This is the main driver of the improved bottom line in the latest quarterly results.

Operating Profit Movement – Operating Profit eased to Rs 9.12 Cr from Rs 9.62 Cr, down 5.2%. This connects the business factors to the outlook discussion that follows.

FY27 Outlook After ICE Make Refrigeration Q2 Results

The FY27 view after ICE Make Refrigeration Q2 Results FY27 depends on the figures already reported. Revenue of Rs 207.38 Cr and net profit of Rs 2.71 Cr form the starting point, and full-year FY27 results will depend on the quarters still to be declared.

Investors tracking ICE Make Refrigeration will want to see whether the revenue base of Rs 207.38 Cr holds in the next filing and how Operating Profit responds to it. The consolidated results reported here give a clean reference point for that comparison.

Later FY27 outcomes will depend on subsequent quarters and disclosed sector conditions, and the Univest Screener can follow the next filing. The risks to watch come next.

Key Risks to Watch After ICE Make Refrigeration Q2 Results FY27

Low Return on Equity

Return on equity was low at 9.44% in FY26. Investors may weigh this annual figure alongside the strong quarterly revenue growth in ICE Make Refrigeration Q2 Results FY27.

High Debt Relative to Assets

Debt is high at 1.13 times total assets in FY26. This is an annual balance sheet measure and sits apart from the quarterly growth, so investors may read the two together.

Volatile Quarterly Net Profit

Quarterly net profit has been volatile, ranging from a loss of Rs 1.64 Cr to a profit of Rs 10.11 Cr over the last 5 quarters. Each new quarter may be weighed against this wide band.

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Conclusion

The ICE Make Refrigeration Q2 Results FY27 show consolidated revenue up 40.61% YoY to Rs 207.38 Cr and net profit up 34.16% to Rs 2.71 Cr. These quarterly results are data points and not a recommendation, and the consolidated results should be read with the risks listed above. Investors should consult a SEBI-registered advisor before acting. Readers can follow ICE Make Refrigeration Q2 Results updates in the Univest app.

Frequently Asked Questions on ICE Make Refrigeration Q2 Results FY27

What are ICE Make Refrigeration Q2 Results FY27?

Ans. ICE Make Refrigeration Q2 Results FY27 are results declared on 5 November 2026 for July to September 2026, with revenue of Rs 207.38 Cr. This overview follows the Quick Answer and Financial Highlights.

What is the results date for ICE Make Refrigeration Q2 Results FY27?

Ans. The results date for ICE Make Refrigeration Q2 Results FY27 was 5 November 2026, covering the July to September 2026 quarter. This date is stated in the Quick Answer and first paragraph.

What revenue was reported in ICE Make Refrigeration Q2 Results FY27?

Ans. ICE Make Refrigeration Q2 Results FY27 report consolidated revenue of Rs 207.38 Cr, compared with Rs 147.49 Cr a year earlier, which means a 40.61% rise, as the Performance Analysis section shows.

What net profit was reported in ICE Make Refrigeration Q2 Results FY27?

Ans. ICE Make Refrigeration reported net profit of Rs 2.71 Cr in the quarter, compared with Rs 2.02 Cr a year earlier, which means a 34.16% rise, as the Key Takeaways list records.

How much YoY growth did revenue show in ICE Make Refrigeration Q2 Results FY27?

Ans. ICE Make Refrigeration Q2 Results FY27 show revenue YoY growth of 40.61%, with Rs 207.38 Cr against Rs 147.49 Cr. Alongside this, net profit grew 34.16%, as the Performance Analysis explains.

Did net profit rise or fall in ICE Make Refrigeration Q2 Results?

Ans. Net profit rose in ICE Make Refrigeration Q2 Results, reaching Rs 2.71 Cr from Rs 2.02 Cr in the same quarter last year, so the YoY change is 34.16%, as the Financial Highlights table confirms.

What was the Operating Profit in ICE Make Refrigeration Q2 Results FY27?

Ans. Operating Profit in ICE Make Refrigeration Q2 Results FY27 was Rs 9.12 Cr, down 5.2% from Rs 9.62 Cr a year earlier, which means it moved against revenue, as the Key Takeaways show.

Are ICE Make Refrigeration Q2 Results consolidated results or standalone results?

Ans. ICE Make Refrigeration Q2 Results are consolidated results, and every figure in the article is stated on a Consolidated basis. This is confirmed in the Quick Answer and the opening paragraphs of the quarterly results article.

What business factors shaped ICE Make Refrigeration Q2 Results FY27?

Ans. ICE Make Refrigeration Q2 Results FY27 were shaped by revenue growth of 40.6%, net profit growth of 34.2% to Rs 2.71 Cr and an Operating Profit change of negative 5.2%, as the Key Business Factors section describes.

What are the key risks after ICE Make Refrigeration Q2 Results FY27?

Ans. The risks after ICE Make Refrigeration Q2 Results FY27 include a low return on equity of 9.44% in FY26, debt at 1.13 times total assets and volatile quarterly net profit over 5 quarters, as covered under Key Risks.

What is the outlook after ICE Make Refrigeration Q2 Results?

Ans. The FY27 view after ICE Make Refrigeration Q2 Results rests on the reported numbers, so full-year results will depend on later quarters and disclosed sector conditions, as the Outlook section explains.

Where can I find the complete ICE Make Refrigeration Q2 Results FY27 data?

Ans. The complete ICE Make Refrigeration Q2 Results FY27 data is in the Financial Highlights table of this article, which sets each figure against the same quarter last year. Univest readers can follow later filings through the Univest Screener.