ALFA Finder| Management target | Revenue 67.0% FY27 |
|---|
| Revenue growth | Revenue up 76% YoY, driven by Ash handling and Wind execution. |
|---|---|
| Margins | Wind margins at 5-6% (PAT); Ash EBITDA margins stable at 15-18%. |
| Order book | Wind order book at 1,860 Cr with 525 Cr already executed. |
| Demand visibility | Strong; government 100GW wind goal by 2030 provides multi-year tailwinds. |
| Management confidence | Confident, specifically regarding ash utilization targets and wind sector localization. |
Growth
Revenue grew 76% YoY to 619 Cr; Ash handling volumes reached 65k-70k TPD with strong operational momentum.
Outlook
Targeting 90k TPD Ash volumes by Q4 FY27; guiding 1,700-1,800 Cr revenue from Wind segment.
Risks
Intermittent diesel supply constraints and geopolitical disruptions; high reliance on successful localization of wind turbine components.
Last quarter's promises, checked
Delivered
- Execute wind order book → Commenced 233 Cr execution (= BEAT)
- Ash EBITDA margin 15-18% → Delivered 20.1% (= BEAT)
- Revenue growth in Ash & Coal → Delivered 28% adjusted growth (= BEAT)
Partly delivered
- Remove promoter pledge in 6 months → Reduction ongoing but still at 41% (= PARTIAL)
Missed
- Ash handling 90k-95k TPD → Delivered 65k-70k TPD (= MISS)
Earnings Call Transcript filed with BSE, NSE: REFEX. Summary written with AI assistance from the document.
Refex Industries Ltd: key numbers
- Share price
- ₹232.77
- Market cap
- ₹3,194 Cr
- Revenue (annual)
- ₹2,277 Cr
- Net profit (annual)
- ₹203.3 Cr
- P/E (TTM)
- 12.3×Sector 52.1×
- Promoter holding
- 56.56%-0.01% QoQ
- FII holding
- 0.55%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 Other Announcement
Refex Industries' quarterly shareholding pattern as of 30 September 2026 shows promoter holdings of about 56.6% and total public shareholding details. The filing reports no promoter transaction or change in control.
Refex Industries Share Pledge
Refex Holding pledged shares to multiple entities, raising encumbered stake to 29.06% of capital. Pledged shares now total 51.37% of promoter holding.
Refex Industries Earnings Call Transcript: Key Takeaways
Refex reported strong revenue growth led by Ash/Coal handling, despite seasonal monsoon headwinds, while pivoting into a capital-light RMC business model.
- Call
- Guides 25% growth
Refex Industries Investor Presentation: Key Takeaways
Q2 FY27 standalone revenue ₹559.5 Cr (+36.1%), PAT ₹59.5 Cr (+13.1%); H1 revenue ₹1,178.8 Cr (+54.7%), PAT ₹133.2 Cr (+55.4%). Order book ₹1,721 Cr; RMC and wind ramping.
Refex Industries Results Update
Refex Industries reported Q2FY27 revenue of ₹560 cr (up 36.1% YoY) and PAT of ₹60 cr (up 13.1% YoY). H1FY27 PAT rose 55.4% to ₹133.2 cr.
Refex Industries Q2 FY27 Results: Net Profit ₹50.7 Cr, Up 40.1% YoY
Refex Industries Ltd reported revenue from operations of ₹761.3 Cr (+83.6% YoY) and net profit of ₹50.7 Cr (+40.1% YoY) for Q2 FY27.
- Key figure
- Net profit ₹50.7 Cr · +40.1% YoY