Refex Industries Limited has secured a domestic order worth ₹36.91 crore for the excavation, loading, and transportation of pond ash to various project sites. The contract has been awarded by a Major Power Producer Company and spans a period of two years, with operations covering Open Cast Mines, Stone Quarries, and NHAI project sites.

The disclosure was made under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company confirmed that the order does not involve any related party transactions and that the promoter group has no interest in the entity awarding the contract.

Order Details

The table below outlines the key particulars of the contract:

The scope of work strictly covers the excavation, loading, and transportation activities as specified in the agreement.

Refex Industries has reported a 34.7% year-on-year increase in its standalone net profit to ₹247.2 crore for the financial year ended March 31, 2026, driven by improved operational efficiency and execution momentum. Revenue from operations for the year stood at ₹2,039.2 crore. The Board of Directors has recommended a final dividend of ₹1 per equity share, subject to shareholder approval. The company filed an investor presentation with exchanges on May 26, 2026, detailing its audited financial results for the fourth quarter and financial year ended March 31, 2026.

Financial Performance for FY26

The company's audited financial results for FY26 reflect a strong performance across key metrics. For the quarter ended March 31, 2026, standalone revenue from operations was ₹701.0 crore, up 17.9% from ₹594.5 crore in the corresponding period of the previous year. Net profit for the quarter rose 66.9% to ₹93.7 crore from ₹56.2 crore year-on-year. EBITDA for the quarter increased 128.8% to ₹141.1 crore.

The following table summarises the standalone financial performance for the quarter and year ended March 31, 2026:

Segment Performance and Operational Highlights

The Ash & Coal Handling Business remained the primary revenue driver, contributing ₹2,012.67 crore for the year. The order book for this vertical stood at nearly ₹1,500 crore as on March 31, 2026. During the year, the Board approved the discontinuation of the Power Trading and Refrigerant Gases business segments. These segments have been classified as discontinued operations in accordance with Ind AS 105.

The Wind Energy business entered an active execution phase with the commencement of Wind Turbine Generator (WTG) deliveries during Q4 FY26, contributing ₹233 crore during the quarter. The 5.3 MW wind turbine platform gained customer traction, and the company received ALMM approval during the year. The mobility demerger is progressing as planned, with the business clocking approximately ₹100 crore turnover within three years of operations.

Corporate Developments

The Board, at its meeting held on May 26, 2026, approved the audited financial results for the fourth quarter and financial year ended March 31, 2026. The results were reviewed by the Audit Committee. Additionally, the company reported that a tax demand of approximately ₹35.67 crore for Assessment Year 2016-17 has been nullified by the Hon'ble Madras High Court.

The extracts of the audited financial results for the fourth quarter and financial year ended March 31, 2026, were published in Business Standard and Dinamani on May 27, 2026, as per Regulation 47 of the SEBI Listing Regulations.