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The Economic Times

Business

Ice Make Refrigeration’s Q1 revenue jumps 60%, inks strategic investment from Japan’s Galilei

Ice Make Refrigeration Ltd., a provider of industrial and commercial refrigeration and cold-chain solutions, says its consolidated revenue from operations rose 60.4% year-on-year to Rs 178.88 crore in the first quarter ended June 30, 2026 and the company has proposed a Rs 180 crore strategic investment by Japan-based Galilei Holdings Company Limited through a preferential issue.

The company, however, faced near-term profitability pressure as higher commodity and raw-material costs, foreign-exchange volatility, and investments in capacity and organisational capabilities weighed on margins. EBITDA stood at Rs 3.09 crore, compared with Rs 4.53 crore in the year-ago quarter, while the EBITDA margin declined to 1.7% from 4.1%.

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