Ice Make Refrigeration (NSE:ICEMAKE) Construction In Progress: ₹253 Mil (As of Mar. 2026)

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NSE:ICEMAKE Ice Make Refrigeration Ltd NSE:ICEMAKE
94 GF Score
Price ₹764.65
GF Value ₹1,142.96
Valuation Possible Value Trap
! 5 Warning Signs
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What is Ice Make Refrigeration Construction In Progress?

Ice Make Refrigeration NSE:ICEMAKE +0.04% 94 Construction In Progress is ₹253 Mil as of Mar. 2026. GuruFocus rates NSE:ICEMAKE with a GF Score™ of 94/100 and a GF Value™ of ₹1,142.96 (Possible Value Trap). The stock has 5 warning signs investors should review.

Ice Make Refrigeration's quarterly construction in progress declined from Sep. 2025 (₹117 Mil) to Dec. 2025 (₹0 Mil) but then increased from Dec. 2025 (₹0 Mil) to Mar. 2026 (₹253 Mil).

Ice Make Refrigeration's annual construction in progress declined from Mar. 2024 (₹176 Mil) to Mar. 2025 (₹87 Mil) but then increased from Mar. 2025 (₹87 Mil) to Mar. 2026 (₹253 Mil).

Ice Make Refrigeration Construction In Progress Historical Data

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The historical data trend for Ice Make Refrigeration's Construction In Progress can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Ice Make Refrigeration Construction In Progress Chart

Ice Make Refrigeration Annual Data
Trend Mar17 Mar18 Mar19 Mar20 Mar21 Mar22 Mar23 Mar24 Mar25 Mar26
Construction In Progress
Get a 7-Day Free Trial Premium Member Only Premium Member Only 0.00 1.39 176.09 86.99 252.84

Ice Make Refrigeration Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
Construction In Progress Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 86.99 0.00 117.09 0.00 252.84
NSE:ICEMAKE
94GF Score
Ice Make Refrigeration Ltd NSE:ICEMAKE
Construction In Progress is just one metric. See GF Score™, valuation, warning signs, and more.
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Ice Make Refrigeration Construction In Progress Calculation

It records the cost of construction work, which is not yet completed (typically, applied to capital budget items). A construction in progress item is not depreciated until the asset is placed in service. Normally, upon completion, a construction in progress item is reclassified, and the reclassified asset is capitalized and depreciated.

What does a Construction In Progress of ₹253 Mil mean?
Ice Make Refrigeration (NSE:ICEMAKE) has a Construction In Progress of ₹253 Mil as of Mar. 2026. Construction in Progress records the amount of construction work that is not complete. View historical data on Ice Make Refrigeration and its competitors.
Is Ice Make Refrigeration's Construction In Progress too high?
Ice Make Refrigeration's current Construction In Progress is ₹253 Mil. Overall, Ice Make Refrigeration has a GF Score™ of 94/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Ice Make Refrigeration's Construction In Progress compare to GEV and ETN?
Ice Make Refrigeration's Construction In Progress of ₹253 Mil can be compared against companies in the Industrial Products industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Construction In Progress for an Industrial Products company?
A good Construction In Progress depends on the Industrial Products industry context. However, Construction In Progress should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Construction In Progress mean?
A high Construction In Progress can signal that a stock is expensive relative to its fundamentals. Construction in Progress records the amount of construction work that is not complete. View historical data on Ice Make Refrigeration and its competitors. Ice Make Refrigeration's current Construction In Progress is ₹253 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Ice Make Refrigeration stock overvalued right now?
Based on GuruFocus' analysis, Ice Make Refrigeration (NSE:ICEMAKE) is currently considered Possible Value Trap. The stock's GF Value™ is ₹1,142.96, compared to a current price of ₹764.65 — trading 33.1% below its estimated fair value. The current Construction In Progress is ₹253 Mil. Ice Make Refrigeration's overall GF Score™ is 94/100 with 5 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Construction In Progress calculated?
Construction In Progress is calculated from a company's financial statements. For Ice Make Refrigeration (NSE:ICEMAKE), the current Construction In Progress is ₹253 Mil as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is Ice Make Refrigeration (NSE:ICEMAKE) Overvalued in 2026?

Based on GuruFocus' analysis, Ice Make Refrigeration stock appears to be undervalued. The current stock price of ₹764.65 is trading 33.1% below its estimated GF Value™ of ₹1,142.96. GuruFocus considers Ice Make Refrigeration to be Possible Value Trap.

Key valuation signals for NSE:ICEMAKE:

  • Construction In Progress: ₹253 Mil
  • GF Value™: ₹1,142.96 vs. price of ₹764.65 (33.1% below fair value)
  • GF Score™: 94/100 with 5 warning signs

No single metric tells the full story. See the NSE:ICEMAKE stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Ice Make Refrigeration Business Description

Address 226, Gota-Vadsar Road, Dantali Industrial Estate, Taluka Kalol, Dantali, Near Ahmedabad City, Gandhinagar, GJ, IND, 382721
Ice Make Refrigeration Ltd is a refrigeration equipment manufacturer, engaged in providing cooling solutions. The company's only operating segment is the Manufacturing of Cold Rooms, freezers, Refrigeration Systems, and chilling plants. It serves dairy, ice cream, food processing, agriculture, pharmaceuticals, cold chain, logistics, hospitals, hospitality, retail, and other industries. Its product offering includes Bulk Milk Chiller, Curd Incubation Chamber, Glass Door Display Chiller, Mortuary Chamber, Refrigerated Container, and other related products.
94GF Score

Get the complete analysis for NSE:ICEMAKE

Construction In Progress is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

₹764.65
Price
₹1,142.96
GF Value