Refex (REFEX) — Financial Results

Refex Industries reported FY26 revenue of ₹2,039 crores, down 10% YoY, with PAT at ₹247 crores (12.12% margin). EBITDA stood at ₹350 crores (17.2% margin), down from ₹208 crores prior year. Q4 revenue was ₹701 crores (18% YoY growth), with PAT at ₹94 crores (13.4% margin) and EBITDA at ₹141 crores (20.1% margin). The company highlighted strong ash & coal handling order pipeline (₹1,500 crores) and wind energy order book (INR 2,000 crores), with ALMM approval secured. It is progressing with mobility business demerger, targeting completion by August 2026. Management emphasized margin sustainability, cost efficiency, and capacity expansion to 90,000-95,000 tons/day. No fundraise is planned, and promoter pledges are being reduced.

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About Refex Industries Limited (REFEX)

Services · Trading · Listed on NSE

Market Cap: ₹3,803.04 Cr P/E: 15.3 ROE: 18.2% ROCE: 28.4% Div Yield: 0.36%

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Source: Stock Announcements. Analysis by StockFin.ai. For informational purposes only — not investment advice.

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