Frick India Essentials

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Face Value


Total Share


Total Income

₹287.72 Cr

Profit After Tax

₹16.36 Cr







Market Capitalisation

₹212.99 Cr

Enterprise Value

₹177.33 Cr

Book Value


Intrinsic Value


Dividend Yield

0.08 %

Earnings Yield

7.68 %




Electrical Components & Equipments


Listed on Small Exchange

Cashflow - Operations

₹3.23 Cr

Cashflow - Financing

₹0.99 Cr

Frick India Growth

Compounded Sales Growth

  • 23.23%

    1 Year

  • 2.26%

    4 Year

  • 9.15%

    7 Year

Pro Only

Compounded Profit Growth

  • -21.29%

    1 Year

  • 4.66%

    4 Year

  • 14.47%

    7 Year

Pro Only

Return On Equity

  • 8.37%


  • 10.48%


  • 11.27%


Pro Only

About Frick India

  • FRICK INDIA LIMITED ("Frick") is primarily involved in  manufacturing and selling of  industrial refrigeration & air-conditioning equipment. The company also installs turnkey projects and uses more than 50 years of experience in the manufacturing and selling of refrigeration equipment. It provides energy-efficient and reliable refrigeration equipment and systems in India.
  • It provides single-source responsibility for turnkey refrigeration and air-conditioning systems covering design, manufacture, packaging, installation, and service to standard specifications as well as custom-built to meet its customers’ special requirements. With collaboration and technologies from the U.K., Japan, U.S.A and Europe.
  • It also provides online Frick India Energy Management System (FEMS) for all Industrial Refrigeration Applications. The company is presently manufacturing a lot of equipment like various types of compressors and packages condensers, Air handling units, liquid re-circulation pump, ice-making equipment, plate & blast freezers, packages chillers, etc. used in industrial refrigeration and PUF Panel.
  • With collaboration and technologies from Japan, U.S.A. It India can also provide on line Total Energy Management Systems (TEMS) for almost all industrial refrigeration applications.
  • Its manufacturing facilities are located at Faridabad (Haryana), in the periphery of the national capital & are spread over a 22-acre multi-block complex. It was incorporated as a public limited company in 1962 in collaboration with Frick Company USA. It is now independent and has diversified.

  • Frick India IPO Details

Currently, Company has no plan to raise funding through IPO.

  • Frick India Revenue Segmentation

  • Revenue from manufacture of industrial refrigeration and AC equipment"
  • Revenue from services provided by the company
  • Revenue from other operating income
  • Revenue generated from other sources
  • Frick India Product & Services


  • Compressors
  • Condensers
  • Frigid Coils
  • Liquid Ammonia Pumps
  • Heat Exchanger & Pressure Vessels
  • Packaged Chillers
  • Packaged A/C
  •  Plate Freezers
  • Automation System
  • Ice Making Equipment 
  • Puf Panels

The Main Products are:

  • Frigid Coils 'S' Series (Stainless Steel Tubes & Aluminum Fin
  •  Liquid Overfeed System
  • Evaporative Condensers
  •  Rotary Twin Screw Compressor Blocks
  • High Speed Reciprocating Compressors
  •  Rotary Twin Screw Compressor Packages
  •  Two Stage Compound Reciprocating Compressor
  •  Frigid Coils ”A” Series (Aluminum Tubes & Aluminum Fins)
  • Frick India Assets

Assets as on 31 March 2022

Assets: Amount (in Lakhs)
Freehold Land
Rs 8.69
Rs. 62.31
Plant & Machinery
Motor Vehicle
  • Frick India Industry Overview

Industry Statistics

Refrigeration and Air Conditioning Industry:

Industrial refrigeration can be defined as the equipment and accessories projected to remove heat from large-scale processes or materials, lowering the temperature to the desired value.

  • Depending on different parameters like the production scale, temperature difference, accuracy or expected temperature, there are multiple methods used to apply industrial refrigeration.
  • Industrial refrigeration has been of paramount importance since the early years of the twentieth century. Historically, industries like Food and Beverages, Pharmaceuticals, or Petrochemicals, achieved important developments thanks to systems indicated for reducing the temperature of their products or processes or conserving them in optimal conditions to avoid safety issues.
  • India's cold storage capacity is likely to reach 40.7 Mn metric tonnes by 2023, rising 8.2% from 2020, as per Colliers' latest report, opportunities in Indian cold chain assets, Also 75% of the cold storage facility are suitable only for storing single commodities, mainly potatoes. The surge in online grocery, processed foods, and pharmaceutical sales have opened up ample opportunities for developers and third-party logistics players to develop multi-purpose cold chain facilities in India.

Air conditioning, often abbreviated as A/C or AC, is the process of removing heat and controlling the humidity of air in an enclosed space to achieve a more comfortable interior environment by use of powered "air conditioners" or a variety of other methods, including passive cooling and ventilate cooling. Air conditioning is a member of a family of systems and techniques that provide heating, ventilation, and air conditioning (HVAC).

  • India Industrial Refrigeration Systems market is primarily driven by growing demand for cold storage facilities in the country coupled with the growing government investment for the expansion of the pharmaceuticals industry in India. Currently in India, over 6,000 cold storages are available which accounts for only, 45% of the required cold storage facilities. However, the Indian region has registered a decline in demand during 2020, due to the global pandemic COVID-19, which has led to a complete lockdown in the region during the first half of 2020, leading to slowdown businesses in the region.
  • A growing number of middle-class households and rising buying power would continue to accelerate the demand for room-split air conditioners (ACs) in India. Increasing office and retail spaces in the country along with booming tourism and hospitality sectors are also contributing to the healthy growth of the Indian air conditioner market.
  • Refrigeration and Air-Conditioning Manufacturers Association of India (RAMA) is an apex forum of the industry leaders and representatives of major manufacturers including MNCs in the Refrigeration and Air Conditioning industry in India. It is affiliated to Confederation of Indian Industry (CII).
  • Air conditioning companies like Voltas, Thermax, HLE Gascoat etc. are the key competitors of the company.

Key Trends:

  • Supply Chain and Raw Material price fluctuations: Unexpected interruptions to global supply networks and negative changes in raw material costs might have an adverse effect on the company's profitability. The company has aggressively pursued the creation of a network of regional suppliers and dual sourcing for essential components in order to actively reduce this risk.
  • Technology Changes: Consumer preferences have evolved since the epidemic. The Company's key product companies must keep up with technological advancements and regular modifications since they compete in a highly competitive market. The company has put in place a strong product development process that creates a 3-year roadmap of new goods and updates using user data, intelligent technology, and regulatory requirements in order to reduce this risk.

Growth Drivers:

  •  Demand for processed foods: The consumer demand for processed meals has significantly increased. Additionally, the Indian government declared its intention to build a number of giant food parks. This bodes well for the growth of the nation's cold chain business.
  • Increase in healthcare products: Many medical supplies, including vaccines, biopharmaceuticals, and clinical trial materials, must be kept at temperatures between 2 C and 8 C because they are heat-sensitive. It is anticipated a high need for effective cold chain facilities in the upcoming years, given that India's vaccine, biopharmaceutical, and clinical trials markets are anticipated to increase at double-digit growth rates.
  • Demand for frozen food: The need for commercial refrigeration equipment is being further boosted by the substantial rise in ready-to-eat food, beverage, and frozen food consumption during the past few years. The vast middle-class population of emerging nations has been fueling the popularity of such items thanks to rising disposable income and the growing influence of the western lifestyle. The fast global spread of supermarkets, hypermarkets, and food and restaurant chains is contributing to the changing food consumption pattern.

Key Players:

  • The key players in the refrigeration industry are Blue Star, Hitachi, Voltas, Subros, etc.

Future Prospects

  • The long-term outlook of the global refrigeration and air conditioning compressors market size is projected to reach USD 19,140 Mn by 2026, from USD 16,600 Mn in 2020, at a CAGR of 2.4% during 2020-2026. This year was quite challenging due to the slowdown in the economy as well as other factors like Covid-19 impact w.e.f. April 2020.
  • Overall, the employment level for Air-conditioning and Refrigeration Mechanics increased between 2000 and 2020. Although there was a sharp increase from around 25,400 in 2018 to 36,400 in 2019, employment levels in 2020 have returned to be in line with the 2018 figures, at 26,400.
  • Projections indicate that employment levels by 2024 will return to figures similar to the spike seen in 2019, with 34,800 projected by 2024. According to the 2016 census, a large proportion of Air-conditioning and Refrigeration Mechanics are employed in the Construction Services, and Repairs and Maintenance industries (approximately 37% and 35% respectively).

Government Initiatives

  • The government of India gave an approval to 27 cold chain projects through the Pradhan Mantri Kisan Sampada initiative in 11 states of India. The government announced an investment of USD 28 Mn in this initiative, driving the market.
  • Make-in-India, National Manufacturing Policy (NMP), and Goods & Services Tax (GST) implementation are expected to aid the growth of core sectors thus contributing to new demand for screw compressors, initiatives pertinent to energy efficiency will drive the services market. 

Frick India Awards & Achievements

  • Frick India Limited has been awarded for best company providing turnkey solutions for all industrial refrigeration applications on 1st October 2021, at a function of  Business Sphere National Conclave & 17th Award Function in New Delhi. 
  • Mr. Jasmohan Singh, Managing Director, Frick India Limited has been awarded "NATIONAL AWARD CEO OF THE YEAR" on 26th August 2021at a function organized by "Social and Corporate Governance Awards" at Taj Lands End, Mumbai.
  • Frick India Limited has been awarded "Most trusted Industrial Frick India Limited has been awarded Refrigeration Equipment Manufacturing Company of the Year" on 9th August 2019.
  • Frick India Limited has been awarded "WINNER" in REFCOLD India 2018 EMERSON AWARD on 22nd November 2018.
  • Frick India Limited has been awarded "Best Manufacturer Award" in Danfoss ICE Award 2017.
  • Frick India Limited has been awarded "India Agribusiness Excellence Award" for Year 2017.
  • Frick India Limited has been awarded "Product of the year" Award for our Screw Compressors by ASSOCHAM at their 9th International Summit on Food Processing, Agriculture & Dairy (FAD) Summit on 13th August 2016.
  • Frick India Limited has been awarded "COMPANY OF THE YEAR AWARD" by Indo-American Chamber of Commerce (IACC-NIC) at their "Business Leadership Awards and Fellowship Night" on 14th September 2015.

Frick India Strengths

  • According to the MSN credit rating agency, the company's risk analysis is normal and its payment trend is positive. On a scale of 100, the agency awarded 75 credit points.
  • The MIRA's rating agency has assigned an A rating and stated that business dealings are permissible with a low risk of default.
  • The assets of the company are increasing at the compounded rate of 10% from the last 7 years. As the demand is increasing company is also increasing is production capacity . 
  • The company is consistently marches to launch new innovative products.

Frick India Shortcomings

  • To meet the increasing demand of warehouses, company has not made any significant investment from the last 3 years. 

Frick India Opportunities

  • The consumption of ready-to-eat products, beverages, and frozen food has increased considerably worldwide in the recent years, which is further boosting the demand for commercial refrigeration equipment.
  • A growing number of middle-class households and rising buying power would continue to accelerate the demand for room split air conditioners (ACs) in India. Increasing office and retail spaces in the country along with booming tourism and hospitality sectors are also contributing to the healthy growth of the Indian air conditioner market.

Frick India Threats

  • The ventures operating in the global industrial refrigeration industry are opting for multiple business development strategies to stronghold their market position in the industry to provide integrated services to the customers. Therefore, competitive rivalry in the market is high.
Frick India Rating



  • Frick India Detail Info

Industry Statistics


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Frick India

Reg Office: Main Mathura Road ,Faridabad , Faridabad, Haryana-121003

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