| 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
| Parameter | Details |
| Company Name | Frick India Limited |
| Industry | Industrial Refrigeration and Cold Chain Equipment |
| Core Technology | Ammonia-based industrial refrigeration systems |
| End Markets | Food processing, dairy, cold storage, ice plants, breweries, pharmaceuticals, chemicals, marine |
| Listing Status | Unlisted |
What Frick India Makes
| Product Category | Application |
| Reciprocating and screw compressors | The core of industrial refrigeration systems |
| Condensing units and chillers | Heat rejection and process cooling |
| Cold storage systems | Turnkey cold rooms and warehouses |
| Ice plants | Block and flake ice for fisheries and food |
| Blast freezers and IQF systems | Rapid freezing for food processing |
| Process cooling | Chemicals, pharmaceuticals and industrial applications |
| Service and spares | Maintenance 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
| Driver | Detail |
| Post-harvest losses | India loses a substantial share of its horticultural produce for want of cold storage |
| Government policy | Cold chain infrastructure has been a consistent policy priority with subsidy support |
| Food processing growth | Rising processed food consumption requires cold infrastructure |
| Dairy expansion | India is the world's largest milk producer, and milk requires immediate chilling |
| Pharmaceutical cold chain | Vaccines and biologics require validated temperature control |
| Quick commerce and e-grocery | Dark stores and last-mile delivery require distributed cold infrastructure |
| Export requirements | Marine, meat and horticulture exports demand cold chain compliance |
Why Investors Consider Frick India Unlisted Shares
- Established engineering heritage in a technically demanding field
- Ammonia refrigeration expertise — a genuine technical barrier to entry
- Mission-critical equipment — buyers choose proven suppliers and rarely switch
- Service and spares annuity across a 15–25 year installed base life
- India cold chain gap — a structural, policy-supported multi-decade opportunity
- Refrigerant transition tailwind — ammonia benefits as synthetic refrigerants are phased down
- Diversified end markets — food, dairy, pharma, chemicals, marine and industrial
- Government support for cold chain infrastructure investment
Risks to Consider — Read Carefully
- Limited public financial disclosure is the primary risk. Request the latest audited financials from Arms Securities before investing.
- Capex-cycle dependence. Refrigeration equipment sales depend on customers building new cold stores, dairies and plants — a lumpy, cyclical demand pattern.
- Project execution risk — turnkey installations carry cost-overrun and delay exposure.
- Competition from global players (GEA, Johnson Controls, Bitzer, Mayekawa) and numerous domestic manufacturers.
- Raw material volatility — steel, copper and compressor components.
- Working capital intensity — project businesses tie up capital in inventory and receivables, and customer payment cycles can be long.
- Customer credit risk — cold storage operators and food processors can be financially fragile.
- Safety and liability — ammonia is toxic; any incident carries reputational and legal consequences.
- No IPO announced — assume OTC-only liquidity.
- Thin trading liquidity.
How to Buy from Arms Securities
Call/WhatsApp +91-8882245112 → request 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.
| category | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 |
|---|---|---|---|---|---|---|---|---|---|
| Equity | 308.20 | 273.72 | 231.75 | 203.63 | 187.57 | 167.09 | 152.27 | 137.43 | 124.59 |
| Liabilities | 105.41 | 115.01 | 115.80 | 86.66 | 82.85 | 71.30 | 96.92 | 94.78 | 94.39 |
| Total Equity and Liabilities | 413.61 | 388.73 | 347.55 | 290.29 | 270.41 | 238.39 | 249.20 | 232.21 | 218.99 |
| Net Fixed Assets | 20.05 | 11.50 | 10.01 | 10.03 | 9.29 | 10.69 | 11.17 | 9.31 | 10.24 |
| Capital Work-in-progress | 0.00 | 0.02 | 0.02 | 0.00 | 0.54 | 0.01 | 0.30 | 0.03 | 0.00 |
| Other Non current Assets | 111.69 | 56.62 | 43.98 | 68.55 | 30.92 | 72.19 | 31.18 | 25.93 | 31.42 |
| Current Assets | 281.88 | 320.60 | 293.54 | 211.71 | 229.65 | 155.50 | 206.55 | 196.94 | 177.32 |
| Total Assets | 413.61 | 388.73 | 347.55 | 290.29 | 270.41 | 238.39 | 249.20 | 232.21 | 218.99 |
Profit and Loss of Frick India Unlisted Shares
in ₹ Cr.
| category | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 |
|---|---|---|---|---|---|---|---|---|---|
| Net Revenue | 436.94 | 481.29 | 362.83 | 280.46 | 227.60 | 222.00 | 241.95 | 256.53 | 265.71 |
| Total Operating Cost | 395.46 | 435.12 | 326.56 | 261.67 | 205.69 | 203.32 | 221.42 | 236.73 | 249.24 |
| Operating Profit (EBITDA) | 41.48 | 46.17 | 36.27 | 18.79 | 21.91 | 18.68 | 20.53 | 19.80 | 16.48 |
| Other Income | 10.68 | 12.40 | 6.44 | 7.25 | 9.94 | 5.01 | 6.15 | 6.36 | 10.19 |
| Depreciation and Amortization Expense | 3.34 | 2.38 | 2.15 | 2.17 | 2.28 | 2.64 | 2.32 | 2.36 | 2.57 |
| Profit Before Interest and Taxes | 48.82 | 56.19 | 40.56 | 23.87 | 29.57 | 21.05 | 24.36 | 23.79 | 24.10 |
| Finance Costs | 2.64 | 3.26 | 1.98 | 1.96 | 2.25 | 2.51 | 2.86 | 2.96 | 2.82 |
| Profit Before Tax and Exceptional Items Before Tax | 46.18 | 52.93 | 38.58 | 21.91 | 27.32 | 18.54 | 21.51 | 20.84 | 21.29 |
| Exceptional Items Before Tax | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | -2.85 | 0.00 |
| Profit Before Tax | 46.18 | 52.93 | 38.58 | 21.91 | 27.32 | 18.54 | 21.51 | 17.99 | 21.29 |
| Income Tax | 11.35 | 10.60 | 10.04 | 5.54 | 6.53 | 3.93 | 6.33 | 4.35 | 7.52 |
| Profit for the Period from Continuing Operations | 34.83 | 42.32 | 28.54 | 16.37 | 20.79 | 14.61 | 15.17 | 13.64 | 13.77 |
| Profit from Discontinuing Operations After Tax | -0.12 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Profit for the Period | 34.71 | 42.32 | 28.54 | 16.37 | 20.79 | 14.61 | 15.17 | 13.64 | 13.77 |
Net Sales (in cr.)
Total Income (in cr.)
Operating Profit (in cr.)
Net Profit (in cr.)
Shareholder Funds (in cr.)
Total Assets (in cr.)
Frequently Ask Question