240 per cent returns in a year: This multibagger micro-cap stock got locked in the upper circuit to make a new 52-week high!

The stock has experienced significant buying activity, driven by its impressive performance, which has resulted in multibagger returns of 422 per cent since its listing on October 16, 2020

On Wednesday, shares of Ice Make Refrigeration zoomed and got locked at 5 per cent upper circuit to make a new 52-week high of Rs 364.50. The scrip witnessed a massive spurt in volume. 

In Q3FY23, the net sales of the company surged more than 36 per cent from last year’s same quarter to Rs 66.38 crore. The EBITDA level of the company zoomed 143 per cent from December 2021 quarter to Rs 7.46 crore. The net profit of the company witnessed a massive jump of 248.87 per cent from the corresponding quarter last year to Rs 4.43 crore. 

Ice Make Refrigeration Ltd is engaged in the business of providing customized cooling solutions for Cold Rooms, Freezers, Commercial and Industrial Refrigeration Systems, Chilling Plants, etc. The company has a healthy pending order book of Rs 96 crore. 

Over the years, Ice Make Refrigeration Ltd. has established a robust portfolio of in-house manufactured products across five business verticals, namely cold rooms, commercial refrigeration, industrial refrigeration, transport refrigeration, and ammonia refrigeration. The company has consistently focused on innovation and expansion, regularly introducing new products, solutions, and clients. 

 As a unique player in the industry, Ice Make is at the forefront of meeting the cooling requirements of various industries. The company caters to a large number of diverse clients and customers by producing innovative refrigeration solutions for industries such as dairy, ice cream, food processing, horticulture, agriculture, pharmaceuticals, cold chain logistics, hospitals, hospitality, and retail. 

The stock has experienced significant buying activity, driven by its impressive performance, which has resulted in multibagger returns of 422 per cent since its listing on October 16, 2020, which is less than three years ago. In the last year alone, the stock has surged more than 248 per cent, and in the past month, it has generated returns of over 40 per cent. 

Keep a close eye on this trending multibagger stock.