Refex Industries announced robust financial results for the first quarter of FY27, with revenue jumping 76% year-on-year to ₹619 crore. Profit After Tax (PAT) more than doubled, surging 123% to ₹73.6 crore. The company highlighted strong performance across its ash and coal handling business, continued execution in wind energy, and progress in its mobility segment demerger. The outlook for the upcoming quarters remains positive.
Strong Q1 Performance
Refex Industries Limited has reported a significant uplift in its financial performance for the first quarter ended June 30, 2026. The company’s revenue for the quarter stood at ₹619 crore, marking a substantial year-on-year growth of 76% compared to ₹351 crore in the corresponding quarter of the previous financial year. EBITDA also saw a considerable increase, reaching ₹105 crore from ₹39.6 crore, with an EBITDA margin of 17%.
Profitability Doubles
Profit After Tax (PAT) for the quarter experienced a dramatic surge of 123%, growing to ₹73.6 crore from ₹33 crore in the same period last year. The PAT margin improved to 11.9% from the previous period, reflecting enhanced operational efficiencies. The company stated that its balance sheet remains healthy, and it is committed to financial discipline while investing in growth opportunities.
Business Segment Updates
Anil Jain, Chairman and Managing Director, highlighted strong momentum driven by execution and a healthy order pipeline. The ash and coal handling business continued its strong operational performance, remaining the largest contributor to revenue and profitability. The wind energy business is transitioning into an active delivery phase, with a key milestone being the erection of India’s first 5.3 MW wind turbine. The mobility business is progressing with its demerger, which is expected to unlock long-term value.
Financial Outlook
Dinesh Kumar Agarwal, Whole-Time Director and CFO, provided further financial details, indicating targets for the wind business to achieve a 5% to 6% net margin by year-end and become profitable. The ash and coal handling business is expected to maintain strong growth. The company is also focusing on expanding its presence across the broader ash value chain.
Source: BSE
