| Revenue growth | FY26 revenue dropped 9.7% YoY due to business mix changes. |
|---|---|
| Margins | EBITDA margin expanded from 9.2% in FY25 to 17.2% in FY26. |
| Order book | Current order book ~₹1,500 Cr; Wind confirmed at ₹1,860 Cr. |
| Demand visibility | Strong, supported by 50 GW thermal capacity expansion projections. |
| Management confidence | High, citing improved earnings quality and stronger execution metrics. |
Growth
FY26 Standalone Revenue: ₹2,039 Cr (-9.7% YoY); EBITDA: ₹350 Cr (+68.5% YoY); PAT: ₹247 Cr (+34.7% YoY).
Outlook
Confirmed Wind orderbook of ₹1,860 Cr (406 MW) with a 1.5 GW pipeline; target 5 GW annual production capacity.
Risks
Regulatory penalties for non-compliance with ash utilization and dependence on thermal plant capacity additions.
Earnings Call filed with NSE, NSE: REFEX. Summary written with AI assistance from the document.
Refex Industries Ltd: key numbers
- Share price
- ₹285.80
- Market cap
- ₹3,922 Cr
- Revenue (annual)
- ₹2,277 Cr
- Net profit (annual)
- ₹203.3 Cr
- P/E (TTM)
- 15.9×Sector 53.6×
- Promoter holding
- 56.57%+0.72% QoQ
- FII holding
- 0.93%Current quarter
Reference market data from a third-party provider, updated daily. Not a valuation or a recommendation.
More from Refex Industries Ltd
All →Refex Industries Production Started
Refex Industries commenced commercial operations of its Ready-Mix Concrete business at a new plant in Pune. The facility adopts a lease-based, asset-light model for downstream expansion.
- ready-mix concrete plants
- 1.0 plants
Refex Industries Share Pledge
Refex Holding Private Limited, a promoter of Refex Industries Limited, created a pledge on 5,00,000 shares and released a pledge on 8,33,333 shares.
Refex Industries Order Update: ₹160 Cr
Refex Industries corrected a typographical error in a previously announced order, clarifying the quantity as 10 Lakh Metric Tonnes of Pond Ash and Fly Ash.
- Value
- ₹160.0 Cr
- From
- A Public Sector Undertaking in Madhya Pradesh
- Execution
- 18 months extendable with mutual consent
- lifting capacity
- 10.0 Lakh Metric Tonnes
Refex Industries Bags ₹160 Cr Order from A Public Sector Undertaking in Madhya Pradesh
Refex Industries Limited secured a ₹160 Crore contract from a Public Sector Undertaking in Madhya Pradesh for the lifting of Pond Ash and Fly Ash.
- Value
- ₹160.0 Cr
- From
- A Public Sector Undertaking in Madhya Pradesh
- Execution
- 18 months
Refex Industries Share Pledge
Refex Holding Private Limited created a pledge over 17,68,491 shares of Refex Industries Limited. These shares were pledged as collateral for multiple loan arrangements.
Refex Industries Promoter Buying
Refex Industries submitted a revised Shareholding Pattern. It also disclosed that Refex Holding Private Limited (Promoter group) acquired 100,844 equity shares on June 30, 2026.