As mentioned in AR, all reported in INR
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The promoters have increased their salary to 42 Lakhs per annum for FY 20-21.
Agreed!! Better to get into high entry barrier business as mentioned? Btw could you plz point out some air compressor applications ?
Read few articles where its mentioned that the cold storage distribution facility can be a bottleneck for deployment of covid vaccine.
All the covid vaccine have a stringent cold chain needs -
SNo. Company Cold chain Requirement
-
Pfizer -70 C -
Moderna -20 C -
Astrazeneca 2-8 C -
J&J 2-8 C -
Novavax 2-8 C
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Hello,
Anybody tracking this company?
Seems to be in a downfall which is not so relatable to the current health of the company. Am I missing something here?
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The Q3 results are usually subdued due to being an off season for refrigeration. As for Covid related business, there has not been anything concrete, something that played out in Snowman Logistics. So I am considering this as a good opportunity for buying considering Q4 is usually the best time for business. Hopefully they would have made inroads in Covid related cold storage as well.
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The management is expecting 25-30% topline growth with 10-11% EBIDTA from 2021 base. Further, presently the capacity utilization is to the tune of 50-55%, no further capital is required for expansion. Order book at the end of Q3 is 49 crores.
Q3FY21-Conference-Call-Transcript.pdf (172.4 KB)
The sector is having a tailwind. The number of cold rooms, cold storage etc. is increasing at a very fast pace. However, presently the sector is dominated by unorganized sector and hence price undercutting is there. Customer’s Shift to organized sector is still not visible. Current year numbers have also been affected by covid lockdown.
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Thanks for sharing this.
As I was on the concall and did ask a couple of questions, was looking forward to get the transcript. But this raises a slight corporate governance concern, there is no announcement about the concall transcript on the exchanges (NSE) whilst it has been uploaded on the company website.
Given the scale and size (recent SME board migration) of the company, can forgive such lapses assuming they are an aberration and don’t recur.
Disc: Invested after Q3 concall
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Curious if anybody knows whether there’s an opportunity for the company to support nation building (medical cold supply chain for oxygen/vaccines) at this hour of need whilst also inadvertently complementing it’s revenues / profits through such initiatives?
Over the long term, definitely see huge scope for growth in areas of cold supply chain supporting medical needs given India’s shoddy infrastructure and supply chains supporting them.
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NSE announcement
With reference to the above captioned subject and pursuant to Regulation 30 read with schedule
ill of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we are
pleased to inform that ICEMAKE has bagged 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 Panch
mahal Dist. Co. Op. Milk Producers’ Union Ltd,
Member Union of Gujarat Cooperative Milk Marketing Federation Ltd. (AMUL) for which the
Letter of Intent (LOI) has been received·by the Company.
The opportunity is huge with accelerating tailwinds and well beyond 2023 IMO, but will the management be able to capitalize?
Disc: Invested
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Report on equitybulls.com:-
Ice Make Refrigeration Limited (NSE Symbol “ICEMAKE”), leading supplier of innovative cooling solutions and manufacturer of 50 plus refrigeration equipments, 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. Co. Op. Milk Producers’ Union Ltd, Member Union of Gujarat Cooperative Milk Marketing Federation Ltd. (AMUL)
Company’s Chairman and Managing Director Mr Chandrakant Patel, said, Ice Make have acquired several new customers and this new job order is a significant one in terms of size and monetary value in ongoing challenging business environment.The company now offers dairy plant cold storage and ice cream mix plant solutions as well. We have recently completed a turnkey cold storage project with 2400 MT capacity and PEB Shed and also supplied a 30,000 LTR & 20,000 LTR (Multi Compartment) Milk Storage Silo. Ice Make’s Transport Refrigeration Division has also supplied custom-built refrigerated truck that maintains temperature of 2�C to 8�C to Indian Oil Corporation Limited (IOCL) & Gas Authority of India Limited (GAIL) for its further contribution to State Government of Tamilnadu & Madhya Pradesh Respectively for Transportation of Covid-19 Vaccines."
Ice Make has been recently recognised as one of the Top 10 Dairy Equipment and Machineries Manufacturers 2020 in India by Industry Outlook Magazine.
They have also informed the exchange about 4700MT butter cold storage.
ICEMAKE_10062021164440_IceMaketoNSEIntimation.pdf (143.6 KB)
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Clean winning quarter. Sales growth QoQ YoY . YoY 41% growth
PAT growth QoQ YoY. PAT exploded
Margins expanded healthy cashflows.
Disc : invested at lowerlevels
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Q1FY24 Concall Highlights
• Top line grows by 22.20% to Rs 79.31 Crore, Net profit up by 73.02% to Rs 5.36 Crore
• Orderbook 125 Cr (last year order 45 Cr), 65 large order from West Bengal govt.
• Vertical Revenue split- Commercial:21% Cold room: 47% , Industrial 4%, Refrigerant 12%, Ammonia 15%,
• Verticals Gross Margins- Commercial 30-34% , Cold Rooms 28-32%, Industrials 28-31%, Transport 15-19%, Ammonia 10-12%
• Capex- Online July 2024, revenue potential 200Cr/shift (400Cr for 2 shift)
• Competitors 13-14 players, Market to grow by 14% enough room for all players to grow
• ROCE/ROE: will be maintained 25-30%
• Fixed asset turn:8-9X
• Tamil Naidu Capex: Revenue potential 40 Cr max.
FY25: Revenue target 500 Cr (25%CAGR , 60% higher than FY23)
D: Holding, no buy/sell recommendation
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If anyone has attended AGM on Saturday, please provide update here
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