Ice Make Refrigeration (NSE:ICEMAKE) Moat Score: 0/10 (As of Aug. 04, 2026)

Author: Vera Yuan Vera Yuan
Vera Yuan
Vera Yuan
Director of Data and Quant Analytics at GuruFocus
Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
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Charlie Tian
Charlie Tian
Founder & CEO of GuruFocus
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.

NSE:ICEMAKE Ice Make Refrigeration Ltd NSE:ICEMAKE
93 GF Score
Price ₹825.25
GF Value ₹1,155.40
Valuation Modestly Undervalued
! 6 Warning Signs
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What is Ice Make Refrigeration Moat Score?

Ice Make Refrigeration has the Moat Score of 0, which implies that the company might have No Moat - No discernible moat.

Ice Make Refrigeration has

Moat Score is a ranking system developed by GuruFocus to assess a company's ability to sustain a competitive advantage, rated on a scale from 0 to 10. It takes into account key factors such as market leadership, cost advantages, network effects, customer switching costs, and more.

The company's Moat Score is based on these criteria:

1. Market leadership and sustainable market share
2. Network effects and significant customer switching costs
3. Valuable intellectual property and patents
4. Strong brand strength and deep customer loyalty
5. Durable cost advantages (e.g., economies of scale, proprietary technology)
6. Significant regulatory barriers and exclusive licenses
7. Superior distribution network
8. Strong and sustainable pricing power
9. Consistent and impactful innovation and R&D capabilities

Based on the research, GuruFocus believes Ice Make Refrigeration might have No Moat - No discernible moat.

Ice Make Refrigeration  (NSE:ICEMAKE) Moat Score Explanation

The Moat Score ranges from 0 to 10, with 10 as the highest. GuruFocus divided Moat Score into following 8 categories:

Moat Score Moat Level
10Wide Moat - Exceptionally dominant and durable wide moat
8 - 9Wide Moat - Clear and robust wide moat
7Wide Moat - Entry-level wide moat, clearly possessing durable advantages
6Narrow Moat - Strong narrow moat, clearly distinguishable but not wide
5Narrow Moat - Solid narrow moat
4Narrow Moat - Discernible but modest moat
1 - 3No Moat - Very weak/transient advantages
0No Moat - No discernible moat

Ice Make Refrigeration Moat Score Related Terms

NSE:ICEMAKE
93GF Score
Ice Make Refrigeration Ltd NSE:ICEMAKE
Moat Score is just one metric. See GF Score™, valuation, warning signs, and more.
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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 ₹825.25 is trading 28.6% below its estimated GF Value™ of ₹1,155.40. GuruFocus considers Ice Make Refrigeration to be Modestly Undervalued.

Key valuation signals for NSE:ICEMAKE:

  • Moat Score: 0
  • GF Value™: ₹1,155.40 vs. price of ₹825.25 (28.6% below fair value)
  • GF Score™: 93/100 with 6 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.
93GF Score

Get the complete analysis for NSE:ICEMAKE

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

₹825.25
Price
₹1,155.40
GF Value