1. India Stocks

  2. •

    Energy minerals

  3. •

    Coal
Refex Industries Limited

Refex Industries Limited

236.45
INR
-2.90
(-1.21%)
19.54EPS
20.95P/E
48.88BMarket Cap
Refex Industries Limited
BSE:REFEX
(Bombay Stock Exchange)

Recent

price

236.45

P/E

ratio

20.95

div

yld

- -

ROIC.AI

2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026
TTM
INR
10.04
5.25
2.12
3.07
10.6
9.76
4.72
9.69
57.73
85.25
67.19
42.27
150.26
124.47
183.86
170.95
205.67
Revenue per Share
0.91
-2.93
-1.96
0.15
0.38
0.67
0.06
0.12
3.96
4.27
4.35
4.32
10.78
8.48
12.96
15.28
17
Basic EPS, GAAP
1.04
-0.04
0.92
1.02
1.42
-3.1
0.48
-0.64
5.31
1.5
12.46
-2.22
-4.12
-4.33
-38.3
-6.95
- -
Free Cash Flow per Basic Share
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
0.22
0.1
- -
0.5
- -
0.49
- -
Dividend per Share
4.92
1.98
0.02
0.17
0.55
1.22
1.27
1.39
5.35
9.49
13.29
17.52
28.44
40.25
93.88
109.63
- -
Book Value per Share
4.92
1.98
0.02
0.17
0.55
1.22
1.27
1.39
5.35
9.49
13.29
17.51
28.44
40.09
92.24
108.4
- -
Tangible Book Value per Share
80
80
80
80
80
80
80
79
80
78
94
105
108
111
122
133
135
Basic Weighted Avg Shares
801
419
169
245
847
780
377
769
4,611
6,607
6,327
4,440
16,179
13,771
22,518
22,754
27,783
Sales/Revenue/Turnover
10.74
-47.69
-14.16
0.39
3.62
2.08
3.72
1.27
6.07
11.58
10.06
11.77
10.42
10.06
8.77
15.23
13.4
Operating Margin (%)
29
29
6
23
25
10
8
8
10
14
53
56
69
135
326
599
- -
Depreciation Expense
72
-234
-157
12
30
53
5
9
316
331
409
454
1,161
939
1,588
2,034
2,297
Net Income, GAAP
- -
- -
- -
- -
- -
- -
13.33
45.91
- -
31.02
29.23
25.57
25.79
23.37
21.34
26.65
26
Effective Tax Rate (%)
9.02
-55.84
-92.46
4.81
3.6
6.82
1.21
1.22
6.86
5.01
6.47
10.22
7.17
6.82
7.05
8.94
8.27
Profit Margin (%)
-4
-216
-309
-172
-74
-82
271
341
157
573
418
776
1,943
3,082
9,855
12,946
- -
Working Capital
43
42
24
1
1
1
350
409
2
61
633
603
1,054
1,381
1,884
841
- -
LT Debt
393
158
2
14
44
97
102
111
427
758
1,396
1,840
3,144
4,647
12,122
15,086
- -
Total Equity
- -
- -
- -
-8.06
18.7
- -
0.94
1
- -
48.66
28.93
19.8
33.07
18.68
14.41
15.06
- -
Return on Invested Capital (%)
- -
- -
- -
11.9
23.18
- -
5.77
3.15
- -
52.72
31.66
21.65
33.54
18.89
15.53
13.89
- -
Return on Capital (%)
- -
-84.96
-195.22
150.92
105.69
75.4
4.59
8.82
117.52
55.89
38.02
28.06
46.58
24.07
18.92
14.97
- -
Return on Common Equity (%)

Capital Structure

INR

•

in mil. unless spec.
Dec'26
Mar'26
Jun'27
ST Debt
- -
1,410
- -
LT Borrowings
- -
288
- -
LT Finance Leases
- -
552
- -
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
137
137
137
Market Capitalization
35,661
25,999
48,878

Working Capital

INR

•

in mil. unless spec.
Dec'26
Mar'26
Jun'27
Total Current Assets
- -
25,396
- -
Cash, Cash Equivalents & STI
- -
1,909
- -
Accounts Receivable, Net
- -
9,297
- -
Inventories
- -
761
- -
Total Current Liabilities
- -
12,450
- -
Payables & Accruals
- -
- -
- -
ST Debt
- -
1,410
- -
Deferred Revenue
- -
- -
- -

Growth Rates

INR

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
79.62%
67.16%
24.45%
Free Cash Flow
32.77%
155.51%
-80.28%
Net Income, GAAP
356.12%
48.93%
28.07%
Sales/Revenue/Turnover
87.54%
56.86%
1.05%
Total Cash Common Dividend
- -
- -
- -

Quarterly Revenue

INR

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2025
5,909
4,280
6,860
5,945
22,518
2026
3,519
- -
5,760
9,342
22,754
2027
9,163
- -
- -
- -
- -

Quarterly Earnings Per Share

INR

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2025
2.54
2.6
3.99
3.74
12.96
2026
1.64
- -
3.94
6.62
15.28
2027
4.65
- -
- -
- -
- -

Quarterly Dividends Per Share

INR

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2025
- -
- -
- -
- -
- -
2026
- -
- -
- -
- -
0.49
2027
- -
- -
- -
- -
- -
Similar Companies
Coal India Ltd. (NSE:COALINDIA)
PT Dian Swastatika Sentosa Tbk (IDX:DSSA)
PT Darma Henwa Tbk (IDX:DEWA)
PT Alamtri Resources Indonesia Tbk (IDX:ADRO)
PT Bukit Asam (Persero) Tbk (IDX:PTBA)
Alpha Metallurgical Resources, Inc. (NYSE:AMR)
Business
Refex Industries Limited, incorporated in 2002 and headquartered in Chennai, Tamil Nadu, India, is an India-based diversified conglomerate primarily engaged in manufacturing and refilling non-ozone depleting hydrofluorocarbon (HFC) refrigerant gases; handling and disposing fly ash from thermal power plants; coal trading and yard management services; solar power generation; power trading; and green mobility solutions including electric vehicle fleets. The company offers a comprehensive range of HFC products such as R134a, R404a, R407c, R410a, R141b, R22, and R32, utilized as refrigerants, blowing agents, and aerosol propellants in air conditioners, refrigerators, automotive air conditioning, industrial refrigeration, food processing, commercial/domestic systems, chillers, medical propellants, and foam blowing applications. It provides round-the-clock services for coal yard management, uncrushed coal shifting, housekeeping, and ash mitigation to reduce environmental pollution from power plants, while operating primarily in India with segments spanning chemicals, renewables, energy services, and emerging green technologies. Recently, in November 2025, its subsidiary Venwind Refex Power Limited acquired Refex Engineering Products Private Limited for INR 1 lakh to consolidate wind energy and ancillary operations; in late November 2025, it incorporated Venwind Refex Projects Limited as a step-down subsidiary for renewable energy generation, transmission, distribution, EPC, and O&M services; and in September 2025, it established Refex Mobility Limited with INR 0.1 million investment to expand green mobility initiatives.