Ice Make Refrigeration reported Q1 FY27 consolidated revenue up ~60% YoY to Rs 178.88 Cr.

Profitability was challenged, with EBITDA at Rs 3.09 Cr (1.7% margin) and a PAT loss of Rs 1.65 Cr, mainly due to high raw material costs and strategic investments.

Management targets 6-6.5% full-year EBITDA, aiming for improved efficiency and H2 price adjustments.

A key strategic move is the proposed Rs 180 Cr investment by Japan's Galilei Holdings, including a JV for commercial refrigeration.

The current order book stands at Rs 222 Cr.

Management remains confident in long-term growth and margin expansion.