Ice Make RefrigerationNSE:ICEMAKE -1.09%92 Dividend Yield % is 0.29% as of Jul. 05, 2026, which is 31% below its 10-year median of 0.42. GuruFocus rates NSE:ICEMAKE with a GF Score™ of 92/100 and a GF Value™ of ₹1,137.04 (Possible Value Trap). The stock has 5 warning signs investors should review. Among 1,926 Industrial Products companies, Ice Make Refrigeration ranks worse than 87.23% on this metric.
As of today (2026-07-05), the Trailing Annual Dividend Yield of Ice Make Refrigeration is 0.29%.
The historical rank and industry rank for Ice Make Refrigeration's Dividend Yield % or its related term are showing as below:
NSE:ICEMAKE'
s Dividend Yield % Range Over the Past 10 Years
Min: 0.2 Med: 0.42 Max: 4.23
Current: 0.29
During the past 13 years, the highest Dividend Yield of Ice Make Refrigeration was 4.23%. The lowest was 0.20%. And the median was 0.42%.
NSE:ICEMAKE's Dividend Yield % is ranked worse than 87.23% of 1926
companies
in the Industrial Products industry
Industry Median: 1.395
vs NSE:ICEMAKE: 0.29
During the past 12 months, Ice Make Refrigeration's average Dividends Per Share Growth Rate was 12.50% per year.
During the past 3 years, the average Dividends Per Share Growth Rate was 23.30% per year.
During the past 5 years, the average Dividends Per Share Growth Rate was 15.60% per year.
During the past 13 years, the highest 3-Year average Dividends Per Share Growth Rate of Ice Make Refrigeration was 23.30% per year. The lowest was 0.00% per year. And the median was 14.50% per year.
The growth rate is calculated with least square regression.
For more information regarding to dividend, please check our Dividend Page.
* Please note that "special dividend" is not included in the calculation of dividend per share and related fields.
Ice Make Refrigeration (NSE:ICEMAKE) Dividend Yield % Explanation
Over the long term, the return from dividends has been a significant contributor to the total returns produced by equity securities. Studies by Elroy Dimson, Paul Marsh, and Mike Staunton of Princeton University (2002) found that a market-oriented portfolio, which included reinvested dividends, would have generated nearly 85 times the wealth generated by the same portfolio relying solely on capital gains.
Dividends may also qualify a lower tax rate for investors.
In dividends investing, Payout Ratio and Dividend Growth Rate are the two most important variables for consideration. A lower payout ratio may indicate that the company has more room to increase its dividends.
Ice Make Refrigeration Dividend Yield % Related Terms
Ice Make Refrigeration Dividend Yield % Historical Data
* Premium members only.
The historical data trend for Ice Make Refrigeration's Dividend Yield % 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.
NSE:ICEMAKE vs GEV, ETN, PH: Dividend Yield % Comparison
For the Specialty Industrial Machinery subindustry, Ice Make Refrigeration's Dividend Yield %, along with its competitors' market caps and Dividend Yield % 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 Dividend Yield % vs Industrial Products Industry
For the Industrial Products industry and Industrials sector, Ice Make Refrigeration's Dividend Yield % distribution charts can be found below:
* The bar in red indicates where Ice Make Refrigeration's Dividend Yield % falls into.
Ice Make Refrigeration Dividend Yield % Calculation
Dividend Yield measures how much a company pays out in dividends each year relative to its share price.
Ice Make Refrigeration Recent Full-Year* Dividend History
Amount
Ex-date
Record Date
Pay Date
Type
Frequency
Forex Rate
INR 2.250000
2025-09-19
2025-09-20
2025-10-10
Cash Dividend
annually
INR:INR 1.000000
* GuruFocus has an internal rule that if the most recent dividend payment frequency is at least 4 times a year, then the full year will be calculated according to the frequency of payment or the one-year time frame, whichever is stricter.
* GuruFocus converts dividend currency to local traded share price currency in order to calculate dividend yield. Please refer to the last column "Forex Rate" in the above table.
* 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 Dividend Yield % of 0.29% as of Jul. 05, 2026. Dividend yield is the ratio of company dividends to the share price. View historical data on Ice Make Refrigeration and its competitors. This is 31% below median its historical median of 0.42. Over the past decade, Ice Make Refrigeration's Dividend Yield % has ranged from 0.20 to 4.23. According to the industry distribution chart, Ice Make Refrigeration ranks #1680 out of 1926 companies in the Industrial Products industry, placing it in the top 87.2%.
Is Ice Make Refrigeration's Dividend Yield % too high?
Ice Make Refrigeration's current Dividend Yield % of 0.29% is 31% below median its 10-year median of 0.42. Over the past 10 years, this metric has ranged from a low of 0.20 to a high of 4.23. The Industrial Products industry median Dividend Yield % is 1.40. Ice Make Refrigeration's value of 0.29% is 79.2% below this industry median. Based on the distribution chart, Ice Make Refrigeration ranks #1680 out of 1926 companies in the Industrial Products industry, which is in the bottom quartile relative to peers. Overall, Ice Make Refrigeration has a GF Score™ of 92/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Ice Make Refrigeration's Dividend Yield % compare to GEV and ETN?
According to the Industrial Products industry distribution chart, Ice Make Refrigeration ranks #1680 out of 1926 companies for Dividend Yield %. This places Ice Make Refrigeration in the lower half of its industry. The industry median Dividend Yield % is 1.40. Ice Make Refrigeration's value of 0.29% is 79.2% below this benchmark. Historically, Ice Make Refrigeration's own Dividend Yield % has ranged from 0.20 to 4.23 over the past decade. While the company's 10-year median is 0.42 vs. the industry median of 1.40, 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 Dividend Yield % for an Industrial Products company?
The median Dividend Yield % among Industrial Products companies is 1.40, based on 1,926 companies in the industry. Companies in the top quartile (top 25%) have a Dividend Yield % significantly above this median, while those in the bottom quartile fall well below. However, Dividend Yield % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Ice Make Refrigeration's current Dividend Yield % of 0.29% is 79.2% 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 Dividend Yield % mean?
A high Dividend Yield % can signal that a stock is expensive relative to its fundamentals. Dividend yield is the ratio of company dividends to the share price. View historical data on Ice Make Refrigeration and its competitors. For the Industrial Products industry, the median Dividend Yield % is 1.40 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Ice Make Refrigeration's current Dividend Yield % is 0.29%, which is 31% below median its own 10-year median of 0.42. 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 ₹1,137.04, compared to a current price of ₹782.20 — trading 31.2% below its estimated fair value. The current Dividend Yield % is 0.29%, which is 31% below median its 10-year median of 0.42 and 79.2% below the Industrial Products industry median of 1.40. 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 Dividend Yield % calculated?
Dividend Yield % is calculated from a company's financial statements. For Ice Make Refrigeration (NSE:ICEMAKE), the current Dividend Yield % is 0.29% as of Jul. 05, 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 ₹782.20 is trading 31.2% below its estimated GF Value™ of ₹1,137.04.
GuruFocus considers Ice Make Refrigeration to be Possible Value Trap.
Key valuation signals for NSE:ICEMAKE:
Dividend Yield %: 0.29% (31% below median its 10-year median of 0.42)
GF Value™: ₹1,137.04 vs. price of ₹782.20 (31.2% below fair value)
Industry Position: 79.2% below the Industrial Products median (#1680 of 1926)
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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