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Ice Make RefrigerationNSE:ICEMAKE +4.79%92 Days Payable is 70.66 as of Mar. 2026, which is 18% below its 10-year median of 85.74. GuruFocus rates NSE:ICEMAKE with a GF Score™ of 92/100 and a GF Value™ of ₹1,148.29 (Modestly Undervalued). The stock has 5 warning signs investors should review. Among 2,994 Industrial Products companies, Ice Make Refrigeration ranks better than 55.08% on this metric.
The historical rank and industry rank for Ice Make Refrigeration's Days Payable or its related term are showing as below:
NSE:ICEMAKE'
s Days Payable Range Over the Past 10 Years
Min: 68.6 Med: 85.74 Max: 96.5
Current: 87.11
During the past 13 years, Ice Make Refrigeration's highest Days Payable was 96.50. The lowest was 68.60. And the median was 85.74.
NSE:ICEMAKE's Days Payable is ranked better than 55.08% of 2994
companies
in the Industrial Products industry
Industry Median: 78.005
vs NSE:ICEMAKE: 87.11
* 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.
NSE:ICEMAKE vs GEV, ETN, PH: Days Payable Comparison
For the Specialty Industrial Machinery subindustry, Ice Make Refrigeration's Days Payable, along with its competitors' market caps and Days Payable data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Ice Make Refrigeration Days Payable vs Industrial Products Industry
For the Industrial Products industry and Industrials sector, Ice Make Refrigeration's Days Payable distribution charts can be found below:
* The bar in red indicates where Ice Make Refrigeration's Days Payable falls into.
Days Payable indicates the number of days that the account payable relative to cost of goods sold the company has. An increase of Days Payable may suggest that the company delays paying its suppliers.
Ice Make Refrigeration's Days Payable for the fiscal year that ended in Mar. 2026 is calculated as
* 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 (NSE:ICEMAKE) has a Days Payable of 70.66 as of Mar. 2026. Days payable represents the average amount of days a company waits to pay its invoices from suppliers. View historical data on Ice Make Refrigeration and its competitors. This is 18% below median its historical median of 85.74. Over the past decade, Ice Make Refrigeration's Days Payable has ranged from 68.60 to 96.50. According to the industry distribution chart, Ice Make Refrigeration ranks #1345 out of 2994 companies in the Industrial Products industry, placing it in the top 44.9%.
Is Ice Make Refrigeration's Days Payable too high?
Ice Make Refrigeration's current Days Payable of 70.66 is 18% below median its 10-year median of 85.74. Over the past 10 years, this metric has ranged from a low of 68.60 to a high of 96.50. The Industrial Products industry median Days Payable is 78.01. Ice Make Refrigeration's value of 70.66 is 9.4% below this industry median. Based on the distribution chart, Ice Make Refrigeration ranks #1345 out of 2994 companies in the Industrial Products industry, which is above the industry midpoint. Overall, Ice Make Refrigeration has a GF Score™ of 92/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Ice Make Refrigeration's Days Payable compare to GEV and ETN?
According to the Industrial Products industry distribution chart, Ice Make Refrigeration ranks #1345 out of 2994 companies for Days Payable. This puts Ice Make Refrigeration in the upper half of its industry. The industry median Days Payable is 78.01. Ice Make Refrigeration's value of 70.66 is 9.4% below this benchmark. Historically, Ice Make Refrigeration's own Days Payable has ranged from 68.60 to 96.50 over the past decade. While the company's 10-year median is 85.74 vs. the industry median of 78.01, Ice Make Refrigeration has consistently been below the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Days Payable for an Industrial Products company?
The median Days Payable among Industrial Products companies is 78.01, based on 2,994 companies in the industry. Companies in the top quartile (top 25%) have a Days Payable significantly above this median, while those in the bottom quartile fall well below. However, Days Payable should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Ice Make Refrigeration's current Days Payable of 70.66 is 9.4% below the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Days Payable mean?
A high Days Payable can signal that a stock is expensive relative to its fundamentals. Days payable represents the average amount of days a company waits to pay its invoices from suppliers. View historical data on Ice Make Refrigeration and its competitors. For the Industrial Products industry, the median Days Payable is 78.01 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Ice Make Refrigeration's current Days Payable is 70.66, which is 18% below median its own 10-year median of 85.74. 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 Modestly Undervalued. The stock's GF Value™ is ₹1,148.29, compared to a current price of ₹878.90 — trading 23.5% below its estimated fair value. The current Days Payable is 70.66, which is 18% below median its 10-year median of 85.74 and 9.4% below the Industrial Products industry median of 78.01. Ice Make Refrigeration's overall GF Score™ is 92/100 with 5 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Days Payable calculated?
Days Payable is calculated from a company's financial statements. For Ice Make Refrigeration (NSE:ICEMAKE), the current Days Payable is 70.66 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 ₹878.90 is trading 23.5% below its estimated GF Value™ of ₹1,148.29.
GuruFocus considers Ice Make Refrigeration to be Modestly Undervalued.
Key valuation signals for NSE:ICEMAKE:
Days Payable: 70.66 (18% below median its 10-year median of 85.74)
GF Value™: ₹1,148.29 vs. price of ₹878.90 (23.5% below fair value)
Industry Position: 9.4% below the Industrial Products median (#1345 of 2994)
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 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.
92GF Score
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