Ice make
FUTURE GROWTH TRIGGERS
Mr Patel said, “Ice Make has a strong roadmap for the future growth including Company’s strong focus on key business verticals like Ammonia Refrigeration, Reefer Van, Food Segment, Exports and South India operations that will help the Company grow faster this financial year as well.
1…AMMONIA REFRIGERATION@2021
=We recently launched ammonia refrigeration that is exclusively
and extensively used in food and beverage, dairy, icecream, brewery and pharma sectors.
= Ammonia is a cost effective, environment-friendly and effi cient alternative to Chlorofl uorocarbons (CFCs) and hydrochlorofluorocarbons
(HCFCs).
=Further, they achieve the same cooling effect while using less power leading to lower long-term
operation costs.
= We are proud to state that we achieved and commercialised ammonia refrigeration in 1 year, as
compared to the industry standards of 5 years, which have strengthened our revenue prospects going ahead.
=(2021)Company has received an Ammonia refrigeration project order for design, engineering, manufacture, supply, installation, testing & commissioning of 4700 MT Butter Cold Storage Facility on turn-key basis, from Panchmahal Dist
=Exclusively & Extensively used in the food and dairy beverage,
brewery, and
ice cream industries
medicare, pharmaceuticals,
frozen products,
=Advantages
Cost-efficient
less power consumption
high turnover
2…VACCUM -FREEZE-DRYER @2020
=12cr rev in 2023(4% of revenue)
=Freeze drying under a vacuum(lypollization) is a process where water is removed from a product by freezing it and then subliming the ice under a vacuum.
=Freeze drying under a vacuum is often used to preserve delicate or heat-sensitive materials that would be damaged by other drying methods.
=Freeze drying under a vacuum begins by freezing the product. This can be done by placing the product in a freeze-dryer, or by using liquid nitrogen
Once the product is frozen, the vacuum is turned on and the ice is allowed to sublimate. Sublimation is the process by which a substance transitions from a solid to a gas without first passing through the liquid phase. This process can take several hours or days, depending on the size and composition of the product
Once the freeze drying process is complete, the product is typically packaged in an airtight container to prevent the reabsorption of moisture from the atmosphere
=There are many benefits to freeze-drying under vacuum, including:
A…Increased shelf life: freeze-dried foods can last for years without losing their nutritional value or taste
B…Preservation of nutrients: freeze-drying helps to preserve the nutrients in food, as well as the flavor and texture
C…Convenience: freeze-dried foods are easy to store and transport, making them ideal for camping, hiking, and other outdoor activities
D…Easy to prepare: freeze-dried foods just need to be rehydrated before they can be eaten, making them quick and easy to prepare
F…Lightweight and compact: freeze-dried foods are lightweight and take up very little space, making them perfect for backpackers and other travelers
=New applications for freeze drying under vacuum are being developed all the time. As technology becomes more widely known and understood, it is being applied to a variety of different fields. Some of the most promising areas of research include
nanotechnology, tissue engineering, and food preservation.
=The vacuum freeze dryers market is expected to experience significant growth in the coming years. This can be attributed to the increasing demand for freeze-dried products across various industries such as food and beverages, pharmaceuticals, and biotechnology. Vacuum freeze dryers help in preserving the product’s nutritional value, flavor, and texture, thus driving their adoption. Furthermore, advancements in technology and increasing investments in research and development are expected to fuel market growth.
=Manufacturers are developing innovative freeze dryers with improved efficiency, automation, and control systems, which is further fueling the demand.
=Moreover, the growing demand for freeze-dried instant coffee and ready-to-eat meals is boosting the market
=It can greatly help to reduce food wastage, and also will save money. The frozen items can always be reused after they are initially allowed to thaw.
=The freeze dried substance may be stored at room temperature for long time without refrigeration
=Retain original shape, color, taste and nutritional value as fresh
=Can be stored for 25+ years without loss of taste or nutritional value
=Better controlling and automation
=Cold temp@-70 to -50c
=Application
-Fruits n vegetables
-Dairy products
-Ready to eat
-Meat and seafood
3…NEW SEGMENTS
Plans to enter into new emerging and fast growing segments like
- online Food Chains,
- Airport Flight Kitchens,
-Cash & Carry Vans to leverage its capabilities and basket of innovative products
=The company is also working on R&D for launching new in-house products like Dry Containers in transport refrigeration segment
=We are also negotiating with various Airport Flight Kitchens for food serving and tapping new segment like Cash Van and Carry Van with reputed companies.
E COMMERCE
=We have also good number of order
of the E‐ commerce segment like Big Basket, Blinkit etc
=Moreover, we believe India’s online retail market will grow multi-fold in the next 5-10 years. The Company is consciously making huge efforts in joining hands with new brands and leading online food companies which will help not only widen our competitive edge in the market but also build long term road for growth for our refrigeration and cold storage products"
4…NEW GEOGRAPHY
A…East
=We have leveraged the power of synergy and incorporated
IceBest Private Limited, enabling the Company to tap into future opportunities and explore new avenues of growth. Furthermore, the Company expanded into new
geographies in the East and may expand in the country’s
other region as and when necessary
B…South
=The Company has upgraded its manufacturing facility located in Ahmedabad and Chennai to cater to these new segments.
C…North
Planning for Warehouse
D…Export
= Its core team has identified several countries having good potential for growth like Nepal, Sri Lanka, Kenya, Uganda, and Ravanda of East Africa
=Our product depends on the service more than the product supply. So, we are just focusing on export where we have some OEMs
5…NEW PRODUCTS
New products performance
A…Freeze dryer
=During the year, in terms of the order book, we marked consistent growth, securing an order of ₹ 11 Crores for
the newly developed product freeze-dryer from one of the
renowned food processing companies in Maharashtra.
B…Ammonia
= In the ammonia vertical, we received a substantial order value of ₹ 35 Crores from various states like Jammu and Kashmir, Maharashtra, and Madhya Pradesh.
C…Solar cold room
=We also received order for 39 units of 5-MT Solar Cold Room to be supplied in the states like Madhya Pradesh, Bihar, and Odisha.
New product growth trajectory
A…Freeze dryer
=Undertake business expansion of ₹ 100 Crores+ for the dehydration product over the next five years
B…Ammonia
=Undertake business expansion of ₹ 100 Crores for the ammonia division by 2024-25
C…Continuous panel.
=Undertake business expansion of ₹ 100 Crores for Continuous Panel by 2026-27
6…NEW PLANT@CONTINUOUS PANEL
=Our Greenfield project for continuous panel is expected to be fully operational by April 2024,
with a capital expenditure of approximately₹ 50 to 60 Crores.
7…STRONG PAST GROWTH
=We are driven by innovation and over the last 26 plus years the team has worked wonderfully in defining our growth. Our growth over the last five years has been healthy at 26.5 % in terms of revenue, 35% in terms of EBIDTA. Out profits have grown even faster at 64% CAGR in the period mentioned.
8…FUTURE GROWTH
=Capex@200cr@next 3 yrs@For augmenting production capacity@most ambitious plan in our 33 yrs practice
=Target by management
-500cr rev@2025
-1000cr rev@2028
-1500cr rev@long term vision
Future growth rate
=The Continuous Panel business is projected to experience a 14% Compound Annual Growth
Rate (CAGR) year-on-year,
=The Cold Chain and Storage business is expected to register a CAGR of 15% to 17% from 2022 to 2027.
=We are committed and confident of achieving growth within a range of 25-30% in overall profitability, with a steady EBITDA margin of 9-11%.
= Our focus is on aggressively
increasing the top line while maintaining a consistent
PAT margin of 5-7%
9…AUTOMATION
=In our current operational approach, there is potential for
semi-automation, even though achieving full automation
may not be completely feasible.
=We regularly upgrade our machinery to incorporate the latest technology and perform small tool-taking activities throughout the year.
=However, our new Greenfield project for continuous panel manufacturing will be fully automated, utilizing
advanced technology machinery.
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