| Revenue growth | 76.4% YoY for Q1 FY27. |
|---|---|
| Margins | EBITDA margin improved from 11.3% to 17.0% YoY. |
| Order book | INR 1,635 Cr (Ash); INR 1,860 Cr (Wind). |
| Demand visibility | Strong; backed by mandatory 100% ash utilization regulations. |
Growth
Revenue rose to INR 619.3 Cr (+76.4% YoY); EBITDA surged 166% to INR 105.4 Cr; PAT reached INR 73.6 Cr.
Outlook
Ash orderbook at INR 1,635 Cr; Wind orderbook at INR 1,860 Cr; demerger of mobility business planned for Aug 2026.
Risks
High regulatory dependence for ash utilization; capital intensive expansion into wind energy and mobility.
Last quarter's promises, checked
Delivered
- Execute wind order book of INR 1,500 Cr in FY27 → On track with Torrent delivery (= BEAT)
- Maintain EBITDA margin 15-18% → Delivered 17.0% (= BEAT)
- Ash handling tons per day ramp-up to 90k-95k → On track with 76.4% revenue growth (= BEAT)
Partly delivered
- Mobility demerger completion in 90 days (Aug 2026) → Process ongoing (= PARTIAL)
Investor Presentation 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.