Frick India Limited Unlisted Shares

Frick India Limited Unlisted Shares

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Market Cap (cr): ₹576 Cr Book Value: ₹2,500
Lot Size: 100 52 Week High: ₹9,800
52 Week Low: ₹1,600 EPS: ₹250
Demat Account: PB: 3.8
Face Value: ₹10 Debt To Equity: 0.17
No Of Shares: 6 lakh Url: https://www.frickweb.com
Overview :

Key Takeaways

  • Frick India Limited is a long-established Indian manufacturer of industrial refrigeration systems and cold chain equipment — the machinery that keeps food, dairy, pharmaceuticals and industrial processes cold.
  • The Frick name carries genuine international engineering heritage in industrial refrigeration, and the Indian company has built decades of domain expertise in ammonia-based industrial refrigeration, a specialised field.
  • The structural driver is India's cold chain gap. India wastes a substantial share of its horticultural produce for want of cold storage, and government policy has consistently prioritised cold chain investment.
  • Key end markets: food processing, dairy, ice plants, cold storage, breweries, pharmaceuticals, chemicals, marine and industrial process cooling.
  • Important: detailed audited financials are not comprehensively public. Request the latest filings from Arms Securities before investing.

Company Overview & Fundamentals

ParameterDetails
Company NameFrick India Limited
IndustryIndustrial Refrigeration and Cold Chain Equipment
Core TechnologyAmmonia-based industrial refrigeration systems
End MarketsFood processing, dairy, cold storage, ice plants, breweries, pharmaceuticals, chemicals, marine
Listing StatusUnlisted

What Frick India Makes

Product CategoryApplication
Reciprocating and screw compressorsThe core of industrial refrigeration systems
Condensing units and chillersHeat rejection and process cooling
Cold storage systemsTurnkey cold rooms and warehouses
Ice plantsBlock and flake ice for fisheries and food
Blast freezers and IQF systemsRapid freezing for food processing
Process coolingChemicals, pharmaceuticals and industrial applications
Service and sparesMaintenance across the installed base

Why Industrial Refrigeration Is a Genuinely Good Business

  • Mission-critical equipment.

If refrigeration fails in a cold store, dairy or pharmaceutical facility, product is destroyed within hours. This makes buyers extremely conservative — they choose proven suppliers and maintain equipment religiously.

  • Service annuity.

Industrial refrigeration plants run continuously for 15–25 years and require regular maintenance, spares and eventual retrofits — generating recurring revenue long after the sale.

  • Ammonia expertise is specialised.

Industrial-scale refrigeration predominantly uses ammonia (R-717) — highly efficient and environmentally benign, but toxic and requiring genuine engineering competence to design and operate safely. This is a real technical barrier to entry.

  • Environmental regulation favours ammonia.

As synthetic refrigerants (HCFCs and HFCs) are phased down under the Montreal Protocol and Kigali Amendment, ammonia — with zero ozone depletion potential and zero global warming potential — becomes increasingly attractive. Companies with deep ammonia expertise benefit structurally from this transition.

The India Cold Chain Opportunity

DriverDetail
Post-harvest lossesIndia loses a substantial share of its horticultural produce for want of cold storage
Government policyCold chain infrastructure has been a consistent policy priority with subsidy support
Food processing growthRising processed food consumption requires cold infrastructure
Dairy expansionIndia is the world's largest milk producer, and milk requires immediate chilling
Pharmaceutical cold chainVaccines and biologics require validated temperature control
Quick commerce and e-groceryDark stores and last-mile delivery require distributed cold infrastructure
Export requirementsMarine, meat and horticulture exports demand cold chain compliance

Why Investors Consider Frick India Unlisted Shares

  1. Established engineering heritage in a technically demanding field
  2. Ammonia refrigeration expertise — a genuine technical barrier to entry
  3. Mission-critical equipment — buyers choose proven suppliers and rarely switch
  4. Service and spares annuity across a 15–25 year installed base life
  5. India cold chain gap — a structural, policy-supported multi-decade opportunity
  6. Refrigerant transition tailwind — ammonia benefits as synthetic refrigerants are phased down
  7. Diversified end markets — food, dairy, pharma, chemicals, marine and industrial
  8. Government support for cold chain infrastructure investment

Risks to Consider — Read Carefully

  1. Limited public financial disclosure is the primary risk. Request the latest audited financials from Arms Securities before investing.
  2. Capex-cycle dependence. Refrigeration equipment sales depend on customers building new cold stores, dairies and plants — a lumpy, cyclical demand pattern.
  3. Project execution risk — turnkey installations carry cost-overrun and delay exposure.
  4. Competition from global players (GEA, Johnson Controls, Bitzer, Mayekawa) and numerous domestic manufacturers.
  5. Raw material volatility — steel, copper and compressor components.
  6. Working capital intensity — project businesses tie up capital in inventory and receivables, and customer payment cycles can be long.
  7. Customer credit risk — cold storage operators and food processors can be financially fragile.
  8. Safety and liability — ammonia is toxic; any incident carries reputational and legal consequences.
  9. No IPO announced — assume OTC-only liquidity.
  10. Thin trading liquidity.

How to Buy from Arms Securities

Call/WhatsApp +91-8882245112request the latest audited financials and ask about order book, capacity utilisation and receivables → confirm price and lot → share CMR → pay via NEFT/RTGS → shares credited in 24–48 hours.

FAQs

What is the current price of Frick India unlisted shares?

Prices are set by OTC supply and demand and liquidity is thin. For today's confirmed Arms Securities quote and available quantity, call +91-8882245112.

What does Frick India manufacture?

Industrial refrigeration systems and cold chain equipment — including reciprocating and screw compressors, condensing units, chillers, cold storage systems, ice plants, blast freezers and IQF systems, and process cooling equipment — serving food processing, dairy, cold storage, ice plants, breweries, pharmaceuticals, chemicals and marine applications.

Why is ammonia refrigeration significant?

Industrial-scale refrigeration predominantly uses ammonia (R-717), which is highly efficient and environmentally benign but toxic and requiring genuine engineering competence to design and operate safely — a real technical barrier to entry. As synthetic refrigerants are phased down under the Montreal Protocol and Kigali Amendment, ammonia's zero ozone depletion and zero global warming potential make it increasingly attractive.

What is the India cold chain opportunity?

India loses a substantial share of its horticultural produce for want of cold storage, and cold chain infrastructure has been a consistent government policy priority with subsidy support. Additional demand comes from food processing growth, dairy expansion (India is the world's largest milk producer), pharmaceutical cold chain for vaccines and biologics, quick commerce dark stores, and export compliance requirements.

Is Frick India profitable?

Detailed audited financials are not comprehensively available in the public domain. Request the latest available financial statements from Arms Securities at +91-8882245112 before investing, and ask specifically about order book, capacity utilisation and receivables.

Will Frick India do an IPO?

No IPO has been announced. Investors should assume OTC-only liquidity and a multi-year holding horizon.

Also Read: Carrier Airconditioning Unlisted Shares | Ring Plus Aqua Unlisted Shares

+91-8882245112 | contact@armssecurities.com

 

Balance Sheet of Frick India Unlisted Shares

in ₹ Cr.

categoryFY25FY24FY23FY22FY21FY20FY19FY18FY17
Equity308.20273.72231.75203.63187.57167.09152.27137.43124.59
Liabilities105.41115.01115.8086.6682.8571.3096.9294.7894.39
Total Equity and Liabilities413.61388.73347.55290.29270.41238.39249.20232.21218.99
Net Fixed Assets20.0511.5010.0110.039.2910.6911.179.3110.24
Capital Work-in-progress0.000.020.020.000.540.010.300.030.00
Other Non current Assets111.6956.6243.9868.5530.9272.1931.1825.9331.42
Current Assets281.88320.60293.54211.71229.65155.50206.55196.94177.32
Total Assets413.61388.73347.55290.29270.41238.39249.20232.21218.99

Profit and Loss of Frick India Unlisted Shares

in ₹ Cr.

categoryFY25FY24FY23FY22FY21FY20FY19FY18FY17
Net Revenue436.94481.29362.83280.46227.60222.00241.95256.53265.71
Total Operating Cost395.46435.12326.56261.67205.69203.32221.42236.73249.24
Operating Profit (EBITDA)41.4846.1736.2718.7921.9118.6820.5319.8016.48
Other Income10.6812.406.447.259.945.016.156.3610.19
Depreciation and Amortization Expense3.342.382.152.172.282.642.322.362.57
Profit Before Interest and Taxes48.8256.1940.5623.8729.5721.0524.3623.7924.10
Finance Costs2.643.261.981.962.252.512.862.962.82
Profit Before Tax and Exceptional Items Before Tax46.1852.9338.5821.9127.3218.5421.5120.8421.29
Exceptional Items Before Tax0.000.000.000.000.000.000.00-2.850.00
Profit Before Tax46.1852.9338.5821.9127.3218.5421.5117.9921.29
Income Tax11.3510.6010.045.546.533.936.334.357.52
Profit for the Period from Continuing Operations34.8342.3228.5416.3720.7914.6115.1713.6413.77
Profit from Discontinuing Operations After Tax-0.120.000.000.000.000.000.000.000.00
Profit for the Period34.7142.3228.5416.3720.7914.6115.1713.6413.77
Net Sales (in cr.)
Total Income (in cr.)
Operating Profit (in cr.)

Net Profit (in cr.)
Shareholder Funds (in cr.)
Total Assets (in cr.)

News

Financial Docs

Date/PeriodDownload
Annual Report 2021-2022
Annual Report 2022-2023
Annual Report 2023-2024
Annual Report 2024-2025

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