Ice Make Refrigeration (NSE:ICEMAKE) Research & Development: ₹0 Mil (TTM As of Mar. 2026)


NSE:ICEMAKE Ice Make Refrigeration Ltd NSE:ICEMAKE
93 GF Score
Price ₹766.90
GF Value ₹1,139.41
Valuation Possible Value Trap
! 5 Warning Signs
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What is Ice Make Refrigeration Research & Development?

Ice Make Refrigeration NSE:ICEMAKE -0.96% 93 Research & Development is ₹0 Mil as of Mar. 2026. GuruFocus rates NSE:ICEMAKE with a GF Score™ of 93/100 and a GF Value™ of ₹1,139.41 (Possible Value Trap). The stock has 5 warning signs investors should review.

Research & Development is the aggregate amount of research and development expenses during the year. Ice Make Refrigeration's Research & Development for the three months ended in Mar. 2026 was ₹0 Mil. Its Research & Development for the trailing twelve months (TTM) ended in Mar. 2026 was ₹0 Mil.

Ice Make Refrigeration  (NSE:ICEMAKE) Research & Development Explanation

If competitive advantage is created by a patent or tech advantage, at some point it will disappear.

High R&D usually dictates high SG&A which threatens the competitive advantage.

Ice Make Refrigeration Research & Development Related Terms

Ice Make Refrigeration Research & Development Historical Data

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The historical data trend for Ice Make Refrigeration's Research & Development 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 Research & Development Chart

Ice Make Refrigeration Annual Data
Trend Mar17 Mar18 Mar19 Mar20 Mar21 Mar22 Mar23 Mar24 Mar25 Mar26
Research & Development
Get a 7-Day Free Trial Premium Member Only Premium Member Only 4.20 7.61 8.88 10.70 0.00

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
Research & Development 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 0.00 0.00 0.00 0.00 0.00
NSE:ICEMAKE
93GF Score
Ice Make Refrigeration Ltd NSE:ICEMAKE
Research & Development is just one metric. See GF Score™, valuation, warning signs, and more.
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Ice Make Refrigeration Research & Development Calculation

This is the expense the company spent on research and development.

Research & Development for the trailing twelve months (TTM) ended in Mar. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was ₹0 Mil.

* 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.

Frequently Asked Questions Learn more about Research & Development →
What does a Research & Development of ₹0 Mil mean?
Ice Make Refrigeration (NSE:ICEMAKE) has a Research & Development of ₹0 Mil as of Mar. 2026. Research and development expense is the total cost for research and development activities. View historical data on Ice Make Refrigeration and its competitors.
Is Ice Make Refrigeration's Research & Development too high?
Ice Make Refrigeration's current Research & Development is ₹0 Mil. Overall, Ice Make Refrigeration has a GF Score™ of 93/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Ice Make Refrigeration's Research & Development compare to GEV and ETN?
Ice Make Refrigeration's Research & Development of ₹0 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 Research & Development for an Industrial Products company?
A good Research & Development depends on the Industrial Products industry context. However, Research & Development 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 Research & Development mean?
A high Research & Development can signal that a stock is expensive relative to its fundamentals. Research and development expense is the total cost for research and development activities. View historical data on Ice Make Refrigeration and its competitors. Ice Make Refrigeration's current Research & Development is ₹0 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 ₹1,139.41, compared to a current price of ₹766.90 — trading 32.7% below its estimated fair value. The current Research & Development is ₹0 Mil. Ice Make Refrigeration's overall GF Score™ is 93/100 with 5 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Research & Development calculated?
Research & Development is calculated from a company's financial statements. For Ice Make Refrigeration (NSE:ICEMAKE), the current Research & Development is ₹0 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 ₹766.90 is trading 32.7% below its estimated GF Value™ of ₹1,139.41. GuruFocus considers Ice Make Refrigeration to be Possible Value Trap.

Key valuation signals for NSE:ICEMAKE:

  • Research & Development: ₹0 Mil
  • GF Value™: ₹1,139.41 vs. price of ₹766.90 (32.7% below fair value)
  • GF Score™: 93/100 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.
93GF Score

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

₹766.90
Price
₹1,139.41
GF Value