About
Refex Industries Limited engages in handling and disposal of fly ash in India. The company engages in solar power generation and related activities; coal trading; and providing coal yard management services and solar module trading. It also engages in providing transport services using electric vehicles. The company was formerly known as Refex Refrigerants Limited and changed its name to Refex Industries Limited in November 2013. The company was incorporated in 2002 and is based in Chennai, India.
Key Metrics
as of Sep 2026Market Cap3,880 Cr
P/E13.60
Div Yield0.53 %
Book Value₹110.00
52w High₹416.00
52w Low₹188.00
Face Value₹2.00
Quarterly Results
Rs. Crores · hover row for definition| Metric | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 | Jun 2024 | Mar 2024 | Dec 2023 | Sep 2023 | Jun 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 619.00 | 701.00 | 576.00 | 411.00 | 351.00 | 594.00 | 686.00 | 428.00 | 585.00 | 337.00 | 302.00 | 350.00 | 381.00 |
| Expenses | 514.00 | 560.00 | 481.00 | 337.00 | 311.00 | 533.00 | 633.00 | 385.00 | 533.00 | 294.00 | 268.00 | 315.00 | 345.00 |
| Operating Profit | 105.00 | 141.00 | 95.00 | 74.00 | 40.00 | 62.00 | 53.00 | 43.00 | 52.00 | 44.00 | 34.00 | 35.00 | 37.00 |
| OPM % | 17.00 | 20.00 | 16.00 | 18.00 | 11.00 | 10.00 | 8.00 | 10.00 | 9.00 | 13.00 | 11.00 | 10.00 | 10.00 |
| Other Income | 8.00 | 4.00 | 6.00 | 7.00 | 11.00 | 18.00 | 25.00 | 12.00 | 2.00 | 8.00 | 3.00 | 5.00 | 2.00 |
| Depreciation | 4.00 | 4.00 | 4.00 | 4.00 | 4.00 | 3.00 | 3.00 | 2.00 | 2.00 | 2.00 | 2.00 | 2.00 | 2.00 |
| Interest | 11.00 | 10.00 | 8.00 | 6.00 | 6.00 | 5.00 | 5.00 | 4.00 | 4.00 | 7.00 | 7.00 | 6.00 | 6.00 |
| Profit before tax | 98.00 | 131.00 | 89.00 | 72.00 | 41.00 | 71.00 | 71.00 | 49.00 | 48.00 | 43.00 | 27.00 | 32.00 | 30.00 |
| Tax % | 25.00 | 29.00 | 25.00 | 27.00 | 20.00 | 20.00 | 17.00 | 23.00 | 25.00 | 16.00 | 28.00 | 27.00 | 26.00 |
| Net Profit | 73.00 | 94.00 | 67.00 | 52.00 | 33.00 | 57.00 | 59.00 | 37.00 | 36.00 | 36.00 | 20.00 | 23.00 | 22.00 |
| EPS in Rs | 5.35 | 6.85 | 4.88 | 4.02 | 2.55 | 4.42 | 4.58 | 3.09 | 3.11 | 3.09 | 1.79 | 2.12 | 1.99 |
Profit & Loss
Annual · Rs. Crores| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 | Mar 2016 | Mar 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 2,039.00 | 2,259.00 | 1,371.00 | 1,629.00 | 444.00 | 633.00 | 661.00 | 461.00 | 77.00 | 38.00 | 78.00 | 85.00 |
| Expenses | 1,687.00 | 2,052.00 | 1,222.00 | 1,454.00 | 383.00 | 565.00 | 609.00 | 433.00 | 75.00 | 36.00 | 75.00 | 79.00 |
| Operating Profit | 352.00 | 208.00 | 149.00 | 175.00 | 61.00 | 68.00 | 51.00 | 28.00 | 2.00 | 2.00 | 3.00 | 6.00 |
| OPM % | 17.00 | 9.00 | 11.00 | 11.00 | 14.00 | 11.00 | 8.00 | 6.00 | 2.30 | 6.00 | 3.40 | 7.00 |
| Other Income | 29.00 | 58.00 | 18.00 | 8.00 | 18.00 | 4.00 | -1.00 | 2.00 | 2.00 | 2.00 | 0.00 | 0.00 |
| Interest | 32.00 | 18.00 | 26.00 | 19.00 | 13.00 | 9.00 | 1.00 | 0.00 | 1.00 | 3.00 | 1.00 | 0.00 |
| Depreciation | 15.00 | 10.00 | 9.00 | 7.00 | 6.00 | 5.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 2.00 |
| Profit before tax | 333.00 | 239.00 | 132.00 | 156.00 | 61.00 | 58.00 | 48.00 | 29.00 | 2.00 | 1.00 | 0.00 | 3.00 |
| Tax % | 26.00 | 21.00 | 23.00 | 26.00 | 26.00 | 29.00 | 31.00 | -10.00 | 46.00 | 13.00 | -1,613.00 | 0.00 |
| Net Profit | 246.00 | 189.00 | 101.00 | 116.00 | 45.00 | 41.00 | 33.00 | 32.00 | 1.00 | 0.00 | 5.00 | 3.00 |
| EPS in Rs | 17.92 | 14.66 | 8.73 | 10.50 | 4.32 | 3.90 | 3.16 | 3.01 | 0.09 | 0.04 | 0.51 | 0.29 |
| Dividend Payout % | 6.00 | 3.00 | 6.00 | 4.00 | 0.00 | 8.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Balance Sheet
Annual · Rs. Crores — latest first| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 | Mar 2016 | Mar 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 27.00 | 26.00 | 23.00 | 22.00 | 21.00 | 21.00 | 15.00 | 15.00 | 15.00 | 15.00 | 15.00 | 15.00 |
| Reserves | 1,544.00 | 1,224.00 | 450.00 | 292.00 | 163.00 | 119.00 | 60.00 | 27.00 | -4.00 | -5.00 | -6.00 | -11.00 |
| Borrowings | 217.00 | 158.00 | 161.00 | 149.00 | 85.00 | 74.00 | 9.00 | 0.00 | 41.00 | 35.00 | 37.00 | 9.00 |
| Other Liabilities | 633.00 | 272.00 | 114.00 | 288.00 | 112.00 | 128.00 | 53.00 | 115.00 | 45.00 | 15.00 | 71.00 | 56.00 |
| Total Liabilities | 2,422.00 | 1,681.00 | 748.00 | 752.00 | 381.00 | 341.00 | 138.00 | 159.00 | 98.00 | 60.00 | 118.00 | 70.00 |
| Fixed Assets | 192.00 | 199.00 | 144.00 | 147.00 | 85.00 | 87.00 | 22.00 | 15.00 | 14.00 | 15.00 | 15.00 | 16.00 |
| CWIP | 1.00 | 6.00 | 9.00 | 3.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Investments | 106.00 | 114.00 | 81.00 | 74.00 | 74.00 | 74.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Other Assets | 2,123.00 | 1,362.00 | 514.00 | 528.00 | 222.00 | 181.00 | 116.00 | 143.00 | 83.00 | 45.00 | 103.00 | 54.00 |
| Total Assets | 2,422.00 | 1,681.00 | 748.00 | 752.00 | 381.00 | 341.00 | 138.00 | 159.00 | 98.00 | 60.00 | 118.00 | 70.00 |
Cash Flows
Annual · Rs. Crores — latest first| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 | Mar 2016 | Mar 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity | 31.00 | -254.00 | 10.00 | 28.00 | -14.00 | 123.00 | 12.00 | 44.00 | -4.00 | 4.00 | -25.00 | -2.00 |
| Cash from Investing Activity | -216.00 | -82.00 | -30.00 | -78.00 | -5.00 | -122.00 | 5.00 | 0.00 | 1.00 | 0.00 | -2.00 | 4.00 |
| Cash from Financing Activity | 102.00 | 568.00 | 43.00 | 60.00 | 2.00 | -5.00 | 1.00 | -41.00 | 4.00 | -3.00 | 26.00 | -2.00 |
| Net Cash Flow | -83.00 | 231.00 | 23.00 | 10.00 | -17.00 | -4.00 | 17.00 | 3.00 | 0.00 | 1.00 | 0.00 | -1.00 |
| Free Cash Flow | 26.00 | -317.00 | -2.00 | -43.00 | -20.00 | 118.00 | 12.00 | 42.00 | -5.00 | 4.00 | -25.00 | -3.00 |
| CFO/OP % | 15.00 | -92.00 | 22.00 | 25.00 | -23.00 | 182.00 | 47.00 | 179.00 | -246.00 | 190.00 | -931.00 | -43.00 |
Ratios
Annual · Days / % — latest first| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 | Mar 2016 | Mar 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 132.00 | 109.00 | 81.00 | 55.00 | 96.00 | 54.00 | 40.00 | 69.00 | 173.00 | 87.00 | 376.00 | 215.00 |
| Inventory Days | 2.00 | 1.00 | 3.00 | 3.00 | 8.00 | 4.00 | 2.00 | 7.00 | 33.00 | 22.00 | 7.00 | 4.00 |
| Days Payable | 75.00 | 31.00 | 21.00 | 49.00 | 79.00 | 70.00 | 27.00 | 92.00 | 264.00 | 156.00 | 382.00 | 281.00 |
| Cash Conversion Cycle | 60.00 | 80.00 | 63.00 | 8.00 | 24.00 | -12.00 | 15.00 | -15.00 | -57.00 | -47.00 | 1.00 | -63.00 |
| Working Capital Days | 188.00 | 106.00 | 74.00 | 41.00 | 70.00 | 14.00 | 20.00 | 9.00 | 159.00 | 255.00 | -40.00 | -34.00 |
| ROCE % | 23.00 | 25.00 | 29.00 | 48.00 | 25.00 | 45.00 | 85.00 | 61.00 | 6.00 | 7.00 | 6.00 | 24.00 |
Corporate Actions
23 records| Action | Ex Date | Record Date | Ratio | Amount (₹) | Notes |
|---|---|---|---|---|---|
| Dividend | 24 Jul 2026 | 24 Jul 2026 | — | 1.00 | |
| Dividend | 19 Aug 2025 | 19 Aug 2025 | — | 0.50 | |
| Split | 22 Mar 2024 | 22 Mar 2024 | 10:2 | — | |
| Dividend | 20 Feb 2024 | 20 Feb 2024 | — | 0.50 | |
| Dividend | 14 Sep 2023 | — | — | 2.00 | |
| Other | 15 Sep 2022 | — | — | — | Annual General Meeting |
| Dividend | 16 Sep 2021 | — | — | 0.50 | |
| Dividend | 11 Jan 2021 | 12 Jan 2021 | — | 1.00 | |
| Other | 23 Dec 2020 | — | — | — | Annual General Meeting |
| Rights | 16 Jun 2020 | 17 Jun 2020 | 5:14 | — | |
| Other | 16 Jun 2020 | 17 Jun 2020 | — | — | Right Issue of Equity Shares |
| Other | 24 Sep 2019 | — | — | — | Annual General Meeting |
| Other | 26 Jul 2018 | — | — | — | Annual General Meeting |
| Other | 21 Sep 2017 | — | — | — | Annual General Meeting |
| Other | 22 Sep 2016 | — | — | — | Annual General Meeting |
| Other | 23 Sep 2015 | — | — | — | Annual General Meeting |
| Other | 24 Sep 2014 | — | — | — | Annual General Meeting |
| Other | 27 Sep 2012 | — | — | — | Annual Book Closure |
| Other | 25 Aug 2011 | — | — | — | Annual General Meeting |
| Other | 25 Nov 2010 | — | — | — | Annual General Meeting |
| Dividend | 29 Oct 2009 | — | — | 0.10 | |
| Dividend | 29 May 2008 | — | — | 1.00 | |
| Dividend | 17 Jan 2008 | 18 Jan 2008 | — | 1.00 |
Announcements
5 filingsShareholding Pattern
Open on BSEFinancial Results — Filings
Open on BSEBoard Filings
Open on BSEAnnual Reports
Credit Ratings
-
Rating update7 Aug from smera
-
Rating update9 Mar from smera
-
Rating update4 Feb from smera
-
Rating update8 Jan from smera
-
Rating update7 Jul 2025 from smera
-
Rating update24 Oct 2024 from smera