#1Innovative Cooling and Cold Chain Solutions Shaping Future. Creating Value. Building Trust. in ICE MAKE Trusted Cooling Partner#2INDEX 0 03 COMPANY OVERVIEW 04 KEY MILESTONES 05 OUR STRENGHTS 14 INDUSTRY OVERVIEW 19 GROWTH STRATEGY 20 FINANCIAL PERFORMANCE 26 CONTACT DETAILS#3COMPANY OVERVIEW . Ice Make Refrigeration Limited, established in 1993, is a leading supplier and manufacturer of cooling solutions in India The Company is engaged in the business of providing customized cooling solutions to diverse set of clients across wide range of industries The Company operates under five key business verticals including Cold Room, Commercial Refrigeration, Industrial Refrigeration, Transport Refrigeration & Ammonia Refrigeration It caters to wide range of Industries including Dairy, Ice- cream, food processing, agriculture, pharmaceuticals, Cold Chain, Logistics, hospitals, Hospitality and retail among others. The Company also exports it's products to overseas clients in number of countries. Ice Make has its manufacturing plants located at Dantali, near Ahmedabad, Gujarat and Chennai, Tamil Nadu. The only Indian Company with a 50 plus innovative cooling product basket manufactured in-house n ICE MAKE Trusted Cooling Partner#4KEY MILESTONES n ICE MAKE Trusted Cooling Partner H 1993 Established as a proprietorship firm under the names of Ice Make Refrigeration and Hi Make Engineers (later modified to Colpan Poly Panel Industries 2009 Incorporated as a Private Limited Company which took over the running business of M/s Ice Make Refrigeration and M/s Colpan Poly Panel Industries. Certified with ISO 9001:2008 for the Management Systems 2016 Acquired Bharat Refrigerations Private Limited Upgraded Management system certification to ISO 9001:2015 2017 Achieved CRISIL MSE*1 ratings by CRISIL Conversion into Public Limited Company Listing of equity shares on NSE Emerge 2018 Crossed 100 Crore Turnover landmark in Fiscal 2018 Improved credit ratings to Care BBB+ (Care Triple B Plus) Launched solar cold rooms targeted for the agriculture sector Entered into Ammonia Refrigeration segment 2019 Launched low temperature low humidity dryer for the farm and food processing sector Expanded our facilities to improve production efficiency Upgrade Health and Safety certificate to ISO 450001:2018 & CE certificate 2020 Ice Make completes 30 years in business shaping the future of cold chain logistics 500+ employees, 65+ business associates, 25000+ customers Migration to Main Board of NSE#5OUR STRENGTHS People Technology Network Customers Capabilities Multiple Product Portfolio Integrated R&D and Innovation Experienced Management And Professional Team Competitive Edge Strong Corporate Ethos n ICE MAKE Trusted Cooling Partner In House Manufacturing Capabilities Marquee Clientele#6PEOPLE: EXPERIENCED PROMOTERS & MANAGEMENT BOARD n ICE MAKE Trusted Cooling Partner He is a Chairman & Managing Director, Co-founder and Promoter Director of the Company. Over 27 years work experience in refrigeration industry business Heads the finance, business strategy, research and development, sales & marketing, and the enterprise operation divisions of the Company Age: 52 years Mr. Chandrakant P. Patel Mr. Rajendra P. Patel He is a Joint Managing Director, Co-founder and Promoter Director of the Company. Over 22 years of work experience in refrigeration industry business Heads the Production of cold room panels, refrigerated container and quality control division of the Company Age: 50 years He is a Joint Managing Director, Co-founder and Promoter Director of the Company Over 22 years of experience in refrigeration industry business Heads the purchase, refrigeration system production, accounts and IT departments of the Company Age: 45 years Mr. Vipul I. Patel#7PEOPLE: INDEPENDENT DIRECTORS n ICE MAKE Trusted Cooling Partner Ms. Darsha R. Kikani Dr. Hasmukh B. Patel Mr. Mr Harshadrai P. Pandya She is an Independent Director ion the company board and experienced Company Secretary by profession Holds professional qualification of Company Secretary from Institute of Company Secretaries of India and UK, MBA from Gujarat University and from IIM, Ahmedabad Over 29 years of work experience with various client companies in different industrial segments Age: 63 years He is an Independent Director on the company board and an experienced Chartered Accountant by profession Over 33 years of rich and valuable experience in different facets of financial operations and top executive management including professional practice. Received ICWAI First National Award for 'Excellence in Cost Management -2010', Awardee of the Best CFO award in the Manufacturing Sector by ICAI New Delhi in 2011, Doctorate Research work done in Port Infrastructure Area Age: 61 years He is an Independent Director on the company board and en experienced Engineer in Technical field Over 44 years of experience in ammonia, fertilizer and petrochemical plants Works as a free-lancing consultant in technology, energy conservation and HR Practices Age: 70 years He is an Independent Director on the company board and Businessman by profession Over 12 years of experience for successfully running the business in India and in real estate industry Currently, a director in Cerebros Neurosciences Private Limited and partner in Suryam Realty and SM Developers Age: 62 years Mr. Krishnakant L. Patel#8UNIT-1 en ICE MAKE TECHNOLOGY: Manufacturing Excellence Cutting Edge Technology Trusted Cooling Partner CE MARE SEVIGERATION UNITES Our manufacturing facilities enjoy location advantage and are capable of clients' specific needs Our 1st State of art manufacturing facility is located in a land area of 3,42,000 sq.ft at Dantali, Gandhinagar, Gujarat 2nd Unit having 28,500 sq.ft. area is in Chennai, Tamil Nadu Our Manufacturing plants are well equipped with latest technologies at par along with the Global Industrial Standards. A highly secure, robust and semi-automated Infrastructure for quality output Facilities upgraded with management system certification ISO 9001:2015 & 45001: 2018#9TECHNOLOGY: BUSINESS VERTICALS Cold Room Commercial Refrigeration Industrial Refrigeration Transport Refrigeration Edge: Capability to produce thickness of 60 mm to 150 mm as per the customer needs, reduce the deterioration of products during the freezing process, maintains food quality including flavor, texture, colour, aroma and nutrients Edge: Faster cooling owing to direct expansion, durable tank made of AISI 304 SS, digital temperature controller and occupies lesser space Edge: Ice water intensively cools the product without any risk and less power load Edge: Low weight, high strength with solid insulator Ammonia Refrigeration Edge: Cost efficient, consumes less power, higher turnover Product line: Cold Room, Solar Cold Room, Cold Room Puf Panel (Discontinuous Type), Cold Room Door, Condensing Unit (Air/Water-Cooled), Evaporator Unit, Cold Room Control Panel, Glass Door Display Chiller, Curd Incubation Chamber, Ripening Chamber, Precooling Chamber, Blast Chiller, Blast Freezer Product line: Ice Cream Mix Plant, Bulk Milk Chiller, Pasteurizing Tank, Ageing Vat, Ice Candy Production Machine, Ice Cream Hardener (Static/Tunnel Type), Deep Freezer/Chest Freezer, Vertical Chiller, Dairy Freezer, Under Counter Refrigeration, Mortuary Chambers Product line: Water Chilling Plant, Brine Chilling Plant, Oil Chilling Plant, Air Chiller, Ice Building Tank (IBT) Container, Product line: Refrigerated Refrigerated Mobile. Container (Eutectic), Insulated Container, Cold Room Type Portable Container, Bunk House Storage: with temperature range of 10° C to - 22° C n ICE MAKE Trusted Cooling Partner End users: Dairy, ice cream, food processing, agriculture, pharmaceuticals, cold chains, logistics, hospital, hospitality and retail, among others#10REACH: PAN INDIA PRODUCT DISTRIBUTION NETWORK Bikaner Jodhpur [one Udaipur Gandhinagar Gujarat Ahmedabad Jammu www Delhi Lucknow Jaipur Indore ene Rajkot ona Vadodara, Raipur Surat Nagpur Mumbai Pune Hyderabad Kolhapur Goa Hubli Bengaluru Chennai Cochin Trivandrum Puducherry Head Office Manufacturing Plant I & II Branch Office Dealers & Associates Company Representative Guwahati Patna Cuttack Tene Kolkata ◆ Equipped with latest & n ICE MAKE Trusted Cooling Partner advanced technology that leads to cost-efficiency and competitive pricing ◆ Consistent delivery of quality products to meet the standards of domestic and international customers ◆ Strong marketing and distribution network ◆ Efficient after sales services ◆ Team of skilled technical engineers with requisite technical know-how#11GLOBAL REACH: MAKING INROADS IN OVERSEAS MARKETS n ICE MAKE Trusted Cooling Partner U.S.A O Afghanistan Nepal Japan Bahrain ● Bhutan Algeria U.A.E Libya • Bangladesh Sierra Leone Uganda Nigeria Kenya ●Sri Lanka Maldives ●Seychelles Congo ●Tanzania ●Mauritius Zambia Madagascar#12Ⓡ रेल • CUSTOMERS:CATERING TO MARQUEE CLIENTELE Coca-Cola SUBWAY KOHLER Hindustan Unilever Limited Coca Cola Hindustan Unilever Subway Kohler Amul The Taste of India Amul INTAS KitchenⓇ Xpress Vadilal Monginis Monginis Intas Kitchen Express ADITYA BIRLA CHEMICALS Aditya Birla Chemicals Vadilal CAMBAY Hotels & Resorts Cambay + Indian Red Cross Society Indian Red Cross Society GOVT. OF SIKKIM SIKKIM CO-OPERATIVE MILK PRODUCERS' UNION LTD Co-operative Milk Producers Union Ltd इसरो isra ISRO INDIAN RAILWAYS Indian Railway COMFED Sudha n ICE MAKE Trusted Cooling Partner HIMALAYAN Food Park Himalayan Food Park BIHAR STATE MILK CO-OPERATIVE FEDERATION KMSCL in service to public health Sudha ACVIND FUTURE RETAILI Arvind Future Retail Havmor ICE CREAM Havmor साँची मध्य प्रदेश शासन का सहकारी उत्पाद मुनाफा नहीं, सेवा लक्ष्य गुणवत्ता पर कड़ा शासकीय नियंत्रण 100 फीसदी शुद्ध सुरक्षित व पौष्टिक We care for health & hygiene Sanchi Thirumala The Trusted Taste of Thirumala Thirumala MOL CHEMISTRY OF SUCCESS AT WORK MOL *Nando's Nando's Paras Life enriched Paras KMSCL HLL Lifecare Limited (A Govt. of India Enterprise) HLL Lifecare Limited milma Milma#13FG RECOGNITIONS: AWARDS AND CERTIFICATIONS 16th FGI AWARD FOR EXCELLENCE IN THE HELD OF TANDING BUSINESS LEADER AWARDED TO ANDANTEL FG SH PATE ARCHAWLA n ICE MAKE Trusted Cooling Partner BUREAU VERITAS Certification ICE MAKE REFRIGERATION LIMITED en ICE MAKE SURVEY NO 226-227 DANTAL INDUSTRIAL ESTATE GOTA-VADGAR ROAD VIA AHMEDABAD, AT, DANTALI, TALUKA KALOL DIST GANDHINAGAR-32721 Bureau Ventas (India) Pvt Ltd (Certification Business) certify that the Management System of the above organisation has been audited and found to be in accordance with the requirements of the management system standards detailed below ISO 14001:2015 Scope of certification DESIGN, MANUFACTURE INSTALLATION & AFTER SALES & SERVICE OF COMMERCIAL AND INDUSTRIAL COLD ROOMS (WALK IN COOLER/ FREEZER, CHILLING PLANTS, INSULATED REFRIGERATED CONTAINER REFRIGERATED VAN, FREEZERS, CONDENSING & EVAPORATING UNITS WITH CUSTOMIZED APPLICATIONS Original cycle start dates Expiry date of previous cycle Recertication Aud Recertication cycle a 10 November 2017 to the continued satisfactory operation of the organizations Management System the certificate gires on 12 November 2020 Centicate No. ND17.3407NE Version: 1 Revision date: 10 November 2017 Kasauny 13 November 2014 12 November 2017 08 September 2017 CERTIFICATE OF REGISTRATION en ICE MAKE ICE MAKE REFRIGERATION LIMITED Survey No. 226/227, Dantall Industrial Estate, Gota-Vasar Road, Near Ahmedabad City At: Dastall. Ta: Kalel, Dist: Gandhinagar-382721, GUJARAT, INDIA UNIT Survey 194/1, Dantali Industrial Estate, Geta Vadsar Road, Via Ahmedabad, At antall Ta: Kalel, Dist: Gandhinagar-382721, GUJARAT INDIA This is to only that the Product Requirements of the above ptice has bees and under Machinery Safety Directive-2006/42/EC, Low Voltage Dieactive-2014/35/ELL EMC Directive-2014/30/ Pressure Equipmeat Directine 97/23/EC Effry of Rodrigmative and fremers - 6/56/ by Nimbus Certificates Private Limited applicable to lewic Products CE MARKING As per Attached Annexure &T Certificate No. GUB/C-314 Certificate Date: 21 December 2016 Reed Date 20 November 2017 Valid Until EAC Code Med 20 December 2019 CE 0801-1 BUREAU VERITAS Certification ICE MAKE REFRIGERATION LIMITED en ICE MAKE HEAD OFFICE SURVEY NO. 226-227, DANTALI INDUSTRIAL ESTATE, GOTA-VASAR ROAD, VIA AHMEDABAD AT DANTALL TALUKA KALOL DIST GANDHINAGAR-382 721, GARAT F SITE 13 SURVEY NO 1941, DANTALI INDUSTRIAL ESTATE, GOTAVADSAR ROAD, VIA AHMEDABAD, AT DANTALL TALUKA KALOL, DIST GANDHINAGAR-382721, Bureau Veritas Certification certify that the Management System of the above organization has been audited and found to be in accordance with the requirements of the management system standard defaded below Standards ISO 9001:2015 & BS OHSAS 18001:2007 Scope of certification EVAPORATING UNITS WITH CUSTOMUSO APPLICATIONS SITE MANUFACTURE OF INSULATED REFRIGERATED CONTAINER REFRIGERATED VANI 16 August 2013 Onginal cycle start date for GMS Original cycle start date for OHSAS Expiry date of previous cycle: Recercation Audt date Recortication cycle start date: 03 December 2013 02 December 2016 20 September 2016 04 October 2016 Sect to the continued satisfactory operation of the organization's Management System, this certificate expires on: 02 December 2019 Certificate No Version: 2 Revision date 18 January 2018 IND16.8491N Kesanny Vidation Press Company CMD Mr Chandrakant Patel received 'Outstanding Business Leader Award" from FGI in 2021 Received recognition for the annual report 2017-18 at the League of American Professionals (LACP) 2017-18 Vision Awards, ranking 27th amongst the top 100 global reports and receiving 'gold' for excellence in investor communication Best SME100 Award in 2017 Best Medium Enterprise (Manufacturing) & Skoch Award in 2014 Indian Leadership Award for Industrial Development in 2011 ISO 14001:2015 I CE Certification LACP XIS BANK a clas 2017/18 VISION AWARDS ANNUAL REPORT COMPETITION slera Ice Make Refrigeration Limited SGA Adsvita Communique Gold Award L&CP OUR BUSINESS SME D ISO 9001:2015 & 45001:2018 AXIS BANK INDIA LACP 2017-18 Vision Awards India SME Award ISO 14001:2015 BANK ET#14INDUSTRY OVERVIEW: INCREASING CONSUMPTION DRIVING GROWTH n ICE MAKE Trusted Cooling Partner Number of House holds in India and estimates (Figures in million) 386 29 (7%) 168 132 (44%) 57 29B 34%) (3%) (1%) 16 (21%) 97 127 15%) 2030 33% (7%) 51 43% 151 2018 (23%) 219 (69%) High 2005 Upper Midle Lower Total House Holds High Income & Upper Middle Income Segment 1 in 4 households today ◆ 1 in 2 households by 2030 ~70M low income households expected to move higher to middle income group by 2030 Fast Growing Economy 2018: 7th Largest Economy GDP Rs 190 lakh cr. 2030: 3rd Largest Economy Estimated GDP Rs 700 lakh cr. (Source: Bain & Company)#15INDUSTRY OVERVIEW: MARKET POISED FOR GROWTH n ICE MAKE Trusted Cooling Partner Growth in Organized Food Retail Shift Towards Fruits and Vegetables Growth Drivers Growth in Processed Food Sector Increasing Demand from the Healthcare Sector India is at the forefront and at the cutting edge of an enabling policy environment., today India is more liberal and forward-looking. Industry too has always been upfront in investing and innovating in solutions that lead to lesser wastage, shortening the supply chain delivery period and value addition to the product. At the policy level, the government has taken initiatives in setting up cold storages and distribution centres. The Government of India is one of the driving forces in developing the cold-chain industry and supports private participation through various subsidy schemes and grants. Investment in cold-chain in India was also opened under the automatic route for 100% FDI participation. India currently has an estimated capacity of 162 million tonnes of agri- warehousing and cold storage.. However, the country is short by 25 million tonnes of cold storage capacity and over 60,000 refrigerated trucks and there is an urgent need to fill this huge capacity gap. The cold chain business all round is expected to grow at a CAGR of around 14-16% and to touch a market size of around Rs 2000 billion in near term, presents immense prospects for existing players to cash on the emerging opportunities as well as new entrepreneurs to develop new solutions.#16INDUSTRY OVERVIEW-COOLING SOLUTIONS SYSTEM Broad Categories of Refrigeration Systems n ICE MAKE Trusted Cooling Partner Key industries where refrigeration products are deployed Cold Room Commercial Refrigeration Industrial Refrigeration Hospitality Dairy Horticulture Transport Refrigeration Ammonia Refrigeration Pharma Multi Commodity Cold Storages in India Where commodities such as fruits and vegetables, pharmaceuticals, frozen products and potatoes, can be stored together Over the next five years, multipurpose cold storages will gradually gain volume share over single-commodity (potato) cold storages on faster growth in the production of fruits, vegetables and dairy products Medicare Frozen Products Organized players (which constitutes sub-10% of the overall cold- storage market) to witness faster volume growth than the unorganized players. It is estimated the share of multipurpose cold storages to increase from ~30% in 2016-17 to 35-40% in 2021-22 Source: CRISIL Report, CRISIL Research#17INDUSTRY OVERVIEW: FUTURE TRENDS Temperature Controlled Warehouses (TCW) TCW play an important role in conserving the quality of the product and decreasing the post-harvest losses TCW account for 90% of the overall cold-chain industry and are projected to grow at a compound annual growth rate (CAGR) of 14- 16% over the next five years, driven by proliferation of quick-service restaurants (QSR), organised retail and rising demand for processed foods TCW segment's revenue will be led by multipurpose cold storage and its share in the total revenue is pegged to rise from 77-79% in 2016-17 to 84-86% by 2020-21 Temperature Controlled Vehicles (TCV) n ICE MAKE Trusted Cooling Partner TCV are equipped with active refrigeration for temperature controlled carriage of perishable products Broadly classified into primary haul vehicles and secondary haul vehicles About 60-65 per cent of the refrigerated transport vehicles are deployed for secondary transportation Number of refrigerated transport (reefer) vehicles is currently estimated at about 15,000 units. A National Centre for Cold-chain Development (NCCD) study, which was released in September 2015, has indicated a requirement of 62,000 reefer vehicles Volumes of TCV are expected to grow at a CAGR of 6-7% from 2016-17 to 2021-22 driven primarily by pharmaceuticals and frozen products which is largely for export markets as well as QSR in domestic markets * billion 11-13% CAGR 14-16% CAGR 481.00 130.00 231.00 264.00 2011-12E 2016-17E 2017-18P 2021-22P E: Estimated P: Projected Source: CRISIL Report, CRISIL Research nICE MAKE Trusted Cooling Partner#18INDUSTRY OVERVIEW: OPPORUNITES COVID-19 Vaccination India with the world's second-highest infections and 1.3 billion people will require its Cold Storage and logistics capacities to be significantly scaled up for vaccinating such a large number of people. The entire existing cold chain capacity is inadequate for the vaccination programs. Therefore, the investment in cold chains are expected to go up five to 10 times of what the country has been doing. Government Initiatives The importance of developing a robust cold chain has caught the attention of the policy makers. India needs to prevent harvest and post-harvest losses estimated at about Rs 92,651 crore in 2016-17, which is a huge loss to the farmers and the economy year after year. Raw Materials - Agri Produce -Fruits and Vegetables -Meat and Poultry -Marine/ Inland Water Products -Beverages and Milk Warehousing/ Cold Chain Logistics -Cold Storage -Warehousing -Conventional Vehicles -Reefer Vehicles Other Value Additions -Processing -Grading -Packaging -Distribution and Marketing Categories Infrastructure Development n ICE MAKE Trusted Cooling Partner Area of Intervention Possible Impact Short Term Increase Silos and Warehousing capacities Prevention of crop wastages and crop losses as well as increase in shelf life of fruits, vegetables and other perishable food items Long Term Creation of common facility centers, Infrastructure Development chains and reefer facilities Improvement in value processing, efficiency enhancement, waste packaging facilities, cold reduction and increase in shelf life of fruits, vegetables and other perishable food items This is likely to push up the demand for Temperature controlled Warehouses and Transport Refrigeration systems Source: E&Y Report#19GROWTH STRATEGY-FOCUS AREAS IMPROVE EFFICIENCY END-TO-END SOLUTIONS EXPORT & RETAIL n ICE MAKE Trusted Cooling Partner Increase the output and reduce the cost ◆ Improve efficiency and quality of the products Increase awareness among the customers about the products Focus on Solutions driven innovative products overcome Our basket of 50 plus innovative products and services are placed in such a manner and helping the company the prevailing weakness in the overall market and take advantage of new opportunities & pent up demand The Company is strongly geared up to tap opportunities and provide the cold chain solutions to health care stakeholders for the Covid19 Vaccination Drive. At some places our systems have already been used for Covid Vaccination cold storages. Strongly focus on exports, new markets and finding solutions. Focus on fast emerging online food business by providing innovative solutions.. 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 prospects for growth Working on plans to put our products on online portals as solutions to address ongoing challenges to tap more customers#20RESULT OVERVIEW: CONSOLIDATED PROFIT AND LOSS Particulars 31-12-2020 (Unaudited) QUARTER ENDED 30-09-2020 (Unaudited) Revenue from operations 3,335.96 || Other Income 29.96 3,059.91 15.46 31-12-2019 (Unaudited) 3,769.41 12.78 n ICE MAKE Trusted Cooling Partner (lakhs) NINE MONTHS ENDED 31-12-2020 (Unaudited) 31-12-2019 (Unaudited) 9,514.66 29.75 8,085.13 58.17 III Total Income (I+II) 3,365.92 3,075.36 3,782.19 8,143.31 9,544.41 IV Expenses (a) Cost of materials consumed 2,432.64 1,976.56 2,528.07 5,600.50 6,381.82 (b) Changes in inventories of finished goods and stock-in-trade (177.05) 14.55 (11.35) (129.22) (114.82) (c) Employee Benefits Expenses 272.83 290.89 293.62 759.03 871.69 (d) Finance Costs 61.58 50.59 65.31 158.81 166.38 (e) Depreciation and amortization expenses 108.51 105.80 122.61 323.14 355.49 (f) Other expenses 620.27 424.90 659.93 Total expenses (IV) 3,318.78 2,863.31 3,658.19 V Profit / (Loss) before exceptional items and tax (III-IV) 47.14 212.06 124.00 1,322.77 8,035.03 108.28 1,686.83 9,347.41 197.00 EBITDA 187.27 352.99 299.14 532.06 689.13 EBITDA Margin (%) 5.61 11.54 7.94 6.58 7.24 VI Exceptional items VII Profit (Loss) Before Tax (V - VI) VIII Tax expense: Total Tax Expenses (VIII) IX Profit/(Loss) for the period (VII-VIII) 47.14 212.06 124.00 108.28 197.00 31.67 27.97 27.76 45.10 15.47 184.08 96.24 63.18 46.19 150.81 X Other Comprehensive Income: XI Total comprehensive income for the period (IX + X) 23.09 191.71 97.10 86.05 153.41 XII Profit/(Loss) attributable to: - Owners of the company 15.47 184.08 96.24 63.18 150.81 - Non-controlling interests XVII Earnings per share (of Rs. 10/- each) (not annualised): Basic 0.10 1.17 0.61 0.40 0.96 Diluted 0.10 1.17 0.61 0.40 0.96#21STRONG FINANCIAL PERFORAMANCE CONSISTENT VALUE CREATION Total Revenue Net Worth Expon. (Total Revenue ) 13662 16000 14000 12958 12000 10168 10000 8788 7182 8000 6000 4461 5044 5540 . 4000 1559 1057 2000 0 2015-16 2016-17 2017-18 2018-19 2019-20 n ICE MAKE Trusted Cooling Partner Consistently delivering good revenue growth And creating value for the shareholders GROWTH WITH PRUDENCE Long Term Debt Cash and Cash Equivalents Aim to deliver growth without compromising strength of balance sheet 2000 1500 Strict control over financial leverage and ability to service debt 1000 741 593 563 425 500 1629 377 232 164 10 6 0 2015-16 2016-17 2017-18 2018-19 2019-20#22STANDALONE FINANCIAL HIGHLIGHTS FOR H1FY20-21 7000 Particulars H1 2020-21* H1 2019-20 Total Revenue 5731 6000 5000 4000 4717 5731 3000 2000 1000 385 386 0 EBITDA EBIDTA Margin (%) 8.17 6.74 6.74 386 H1 2019-20 Total Revenue EBITDA n ICE MAKE Trusted Cooling Partner 10 9 4717 8.17 8 385 H1 2020-21* EBIDTA Margin (%) 7 65 PAT 96 88 260 5800 5591 251 240 PAT Margin (%) 5600 2.01 1.54 220 5400 200 5200 203 180 Net Worth 5591 4918 4918 5000 160 4800 140 Long Term Debt 120 4600 203 251 100 4400 (lakhs) H1 2019-20 Net Worth H1 2020-21* Long Term Debt *The company operations were impacted in the first quarter of FY 2020-21 owing to nationwide lockdown declared by Central Government. In view of the same the results are not strictly comparable.#23CONSOLIDATED FINANCIAL FIGURES FOR H1 FY 20-21 n ICE MAKE Trusted Cooling Partner 7000 Particulars H1 2020-21 H1 2019-20 5758 6000 5000 4000 Total Revenue 4774 5758 3000 2000 1000 403 EBITDA 370 403 0 10 4774 9 7.74 6.99 8 7 6 370 5 H1 2019-20 EBIDTA Margin (%) 7.74 6.99 Total Revenue EBITDA H1 2020-21* EBIDTA Margin (%) PAT 48 55 500 5341 5400 PAT Margin (%) 1.01 0.95 400 423 5200 300 4848 Net Worth 5341 4848 200 332 5000 4800 100 4600 Long Term Debt 332 423 H1 2019-20 H1 2020-21* Net Worth Long Term Debt (* lakhs) *The company operations were impacted in the first quarter of FY 2020-21 owing to nationwide lockdown declared by Central Government. In view of the same the results are not strictly comparable.#24REVENUE MIX: A VALUE ACCREATIVE STRATEGY n ICE MAKE Trusted Cooling Partner FY18-19 1381.95 278.26 790.01 2738.36 COLD ROOM VAN FY19-20 1304.20 487.21 2941.76 7724.14 973.42 INDU. FREEZER COMMERCIAL AMMONIA 7877.67 COLD ROOM INDU.FREEZER COMMERCIAL VAN AMMONIA 374.30 Q2FY21 693.64 2348.19 791.95 435.66 ✓ COLD ROOM INDU.FREEZER COMMERCIAL VAN AMMONIA#25FINANCIAL PERFORAMANCE: STANDALONE FIGURES n ICE MAKE Trusted Cooling Partner (lakhs) Particulars 2019-20 2018-19 2017-18 2016-17 2015-16 Total Revenue 13,662.31 12,957.98 10,167.84 8,788.28 7,182.07 EBITDA 1,466.93 1,417.20 1,301.07 1,026.99 707.20 EBIDTA Margin (%) 10.74 10.94 12.80 11.69 9.85 PAT 717.21 783.44 663.32 501.79 261.24 PAT Margin (%) 5.25 6.05 6.52 5.71 3.64 Net Worth Long Term Debt Cash and Cash Equivalents 5,540.17 5,044.19 4,461.21 1,559.13 1,057.34 232.16 6.07 10.24 563.30 593.03 164.34 377.25 1,629.13 741.45 424.77 The board declared dividend of 1.20 per equity share of face value of 10 each.#26Particulars Total Revenue EBITDA FINANCIAL PERFORAMANCE: CONSOLIDATED FIGURES n ICE MAKE Trusted Cooling Partner EBIDTA Margin (%) EBIT PAT PAT Margin (%) Net Worth Long Term Debt Cash and Cash Equivalents (lakhs) 2019-20 2018-19 13,802.02 13,200.70 1303.39 1417.54 9.44% 10.74% 954.92 1,167.96 569.69 748.02 4.13% 5.67% 5355.58 5,007.12 355.13 127.42 195.51 405.59#27For more information contact Investor Relation ICE MAKE REFRIGERATION LIMITED 226, Dantali Industrial Estate, On Gota-Vadasar Road, Near Ahmedabad City, At: Dantali, Ta: Kalol, Dist.: Gandhinagar - 382721, Gujarat State, India CIN: L29220GJ2009 PLC056482 Phone Number: +91-9879107881 Ext:- 220/221 Email: [email protected] [email protected] [email protected] SAFE HARBOUR n ICE MAKE Trusted Cooling Partner This presentation and the accompanying slides (the "Presentation"), which have been prepared by Ice Make Refrigeration Limited. (the "Company"), have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for any securities, and shall not form the basis or be relied on in connection with any contract or binding commitment whatsoever. No offering of securities of the Company will be made except by means of a statutory offering document containing detailed information about the Company. This Presentation has been prepared by the Company based on information and data which the Company considers reliable, but the Company makes no representation or warranty, express or implied, whatsoever, and no reliance shall be placed on the truth, accuracy, completeness, fairness and reasonableness of the contents of this Presentation. This Presentation may not be all inclusive and may not contain all of the information that you may consider material. Any liability in respect of the contents of, or any omission from, this Presentation is expressly excluded. Certain matters discussed in this Presentation may contain statements regarding the Company's market opportunity and business prospects that are individually and collectively forward-looking statements. Such forward-looking statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties and assumptions that are difficult to predict. These risks and uncertainties include, but are not limited to, the performance of the Indian economy and of the economies of various international markets, the performance of the industry in India and world-wide, competition, the Company's ability to successfully implement its strategy, the Company's future levels of growth and expansion, technological implementation, changes and advancements, changes in revenue, income or cash flows, the Company's market preferences and its exposure to market risks, as well as other risks. The Company's actual results, levels of activity, performance or achievements could differ materially and adversely from results expressed in or implied by this Presentation. The Company assumes no obligation to update any forward-looking information contained in this Presentation. Any forward-looking statements and projections made by third parties included in this Presentation are not adopted by the Company and the Company is not responsible for such third-party statements and projections. www.icemakeindia.com THANK YOU