Company earmarks Rs 200 CR Capex Plan to Enhance Production Capacity

ICE Make Refrigeration Limited (NSE: ICEMAKE),a  leading  provider of innovative cooling solutions and manufacturer of a diverse range of over 50 refrigeration equipment, has announced its ambitious plan for growth at its 14th Annual General Meeting in Ahmedabad. The company is set to invest a significant sum of Rs. 200 crore to expand its production capacity in the next 3 years. 

Addressing an esteemed audience comprising shareholders, partners, and industry experts, Chandrakant P. Patel, Chairman and Managing Director of ICE Make Refrigeration Limited, shared his vision for the company’s future, stating, “Over our 33-year journey, we have achieved numerous milestones, and today, we embark on our most ambitious growth plan yet. By implementing this Rs. 200 crore Capex plan over the next three years, we aim to substantially augment our production capacity, enabling us to surpass the long-term revenue target of Rs. 1500 crore. Our immediate goal is to surpass the turnover target of Rs. 500 crore by FY 2024-25, and we aim of achieving a revenue of Rs. 1000 crore by FY 2027-28.”

ICE Make anticipates robust contributions to its revenue from various segments, including dehydration, ammonia-related products, and continuous panel solutions in the coming years. The company remains dedicated to the pursuit of automation, with a particular emphasis on the commercial sector, as a pivotal element of its future endeavors. Furthermore, ICE Make is actively exploring opportunities for geographical expansion, considering the establishment of new production units or warehouses.

In a bid to expand its investor base and attract institutional investors, the company will initiate the process of listing on the BSE Main Board in the coming months, complementing its existing listing on the NSE Main Board.

Mr. Patel extended his gratitude to ICE Make’s valued customers, dedicated employees, esteemed business associates, and supportive shareholders for their continued support. He emphasized ICE Make’s unwavering dedication to innovation, excellence, and sustainable growth as the cornerstones of its mission.