REFEX INDUSTRIES LIMITED (REFEX) financials

REFEX INDUSTRIES LIMITED (REFEX) NSE/BSE financials on Fincrux: quarterly results, profit and loss, cash flow, balance sheet, ratios, and shareholding.

Refex Industries Limited specializes in trading eco-friendly refrigerant gases and providing comprehensive solutions for responsible coal procurement and ash disposal.[1]

Market Cap: ₹3,427Cr.
Current Price: ₹250
Stock P/E: 11.9
ROE: 17.5%
ROCE: 22.9%
Book Value: ₹115
Dividend Yield: 0.60%
52W High / Low: ₹382/188

In Jun 2026, REFEX INDUSTRIES LIMITED (REFEX) reported sales ₹619 Cr and net profit ₹73 Cr.

Annual TTM: sales ₹2,307 Cr, net profit ₹286 Cr.

Shareholding: Promoters 56.57% (Jun 2026), FIIs 0.93% (Jun 2026), DIIs 0.38% (Jun 2026), Public 42.13% (Jun 2026), No. of Shareholders 91,033% (Jun 2026).

REFEX quarterly results (₹ Cr.)
Category	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Sales	428	686	594	351	411	576	701	619
Expenses	385	633	533	311	337	481	560	514
Operating Profit	43	53	62	40	74	95	141	105
OPM %	10%	8%	10%	11%	18%	16%	20%	17%
Other Income	12	25	18	11	7	6	4	8
Interest	4	5	5	6	6	8	10	11
Depreciation	2	3	3	4	4	4	4	4
Profit before tax	49	71	71	41	72	89	131	98
Tax %	23%	17%	20%	20%	27%	25%	29%	25%
Net Profit	37	59	57	33	52	67	94	73
EPS in Rs	3.09	4.58	4.42	2.55	4.02	4.88	6.85	5.35
Raw PDF	—	—	—	—	—	—	—	—

REFEX profit and loss (₹ Cr.)
Category	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
Sales	661	633	444	1,629	1,371	2,259	2,039	2,307
Expenses	609	565	383	1,454	1,222	2,052	1,687	1,892
Operating Profit	51	68	61	175	149	208	352	416
OPM %	8%	11%	14%	11%	11%	9%	17%	18%
Other Income	-1	4	18	8	18	58	29	25
Interest	1	9	13	19	26	18	32	35
Depreciation	1	5	6	7	9	10	15	16
Profit before tax	48	58	61	156	132	239	333	390
Tax %	31%	29%	26%	26%	23%	21%	26%	—
Net Profit	33	41	45	116	101	189	246	286
EPS in Rs	3.16	3.90	4.32	10.50	8.73	14.66	17.92	21.10
Dividend Payout %	0%	8%	0%	4%	6%	3%	6%	—

REFEX balance sheet (₹ Cr.)
Category	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	15	15	21	21	22	23	26	27
Reserves	27	60	119	163	292	450	1,224	1,544
Borrowings	0	9	74	85	149	161	158	217
Other Liabilities	115	53	128	112	288	114	272	633
Total Liabilities	159	138	341	381	752	748	1,681	2,422
Fixed Assets	15	22	87	85	147	144	199	192
CWIP	0	0	0	0	3	9	6	1
Investments	0	0	74	74	74	81	114	106
Other Assets	143	116	181	222	528	514	1,362	2,123
Total Assets	159	138	341	381	752	748	1,681	2,422

REFEX cash flows (₹ Cr.)
Category	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Cash from Operating Activity	44	12	123	-14	28	10	-254	31
Cash from Investing Activity	0	5	-122	-5	-78	-30	-82	-216
Cash from Financing Activity	-41	1	-5	2	60	43	568	102
Net Cash Flow	3	17	-4	-17	10	23	231	-83
Free Cash Flow	42	12	118	-20	-43	-2	-317	26
CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit	179%	47%	182%	-23%	25%	22%	-92%	15%

REFEX shareholding pattern (%)
Category	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Promoters	57.12%	53.49%	53.37%	53.33%	53.33%	55.80%	55.85%	56.57%
FIIs	1.53%	1.76%	2.00%	1.86%	1.71%	2.03%	1.37%	0.93%
DIIs	0.00%	0.00%	0.11%	0.16%	0.15%	0.16%	0.13%	0.38%
Public	41.35%	44.75%	44.51%	44.65%	44.81%	42.01%	42.66%	42.13%
No. of Shareholders	81,302	81,857	81,739	85,429	89,568	97,015	94,159	91,033

REFEX key ratios
Category	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Debtor Days	69	40	54	96	55	81	109	132
Inventory Days	7	2	4	8	3	3	1	2
Days Payable	92	27	70	79	49	21	31	75
Cash Conversion Cycle	-15	15	-12	24	8	63	80	60
Working Capital Days	9	20	14	70	41	74	106	188
ROCE %	61%	85%	45%	25%	48%	29%	25%	23%

REFEXUpdated 21 Oct 2026, 6:00

Refex Industries Limited

REFEXUpdated 21 Oct 2026, 6:00

Market Cap

₹3,427Cr.

Current Price

₹250

High / Low

₹382/188

Stock P/E

11.9

ROE17.5%

ROCE22.9%

Book Value₹115

Face Value₹2.00

Dividend Yield0.60%

About

Refex Industries Limited specializes in trading eco-friendly refrigerant gases and providing comprehensive solutions for responsible coal procurement and ash disposal.[1]

Quarterly results

Last reported quarters₹ Cr.

Quarter	Sales	Interest	Expenses	Other Income	Depreciation	Profit Before Tax	Tax	Net Profit	EPS (₹)
Jun 2023	381	6	345	2	2	30	26	22	1.99
Sep 2023	350	6	315	5	2	32	27	23	2.12
Dec 2023	302	7	268	3	2	27	28	20	1.79
Mar 2024	337	7	294	8	2	43	16	36	3.09
Jun 2024	585	4	533	2	2	48	25	36	3.11
Sep 2024	428	4	385	12	2	49	23	37	3.09
Dec 2024	686	5	633	25	3	71	17	59	4.58
Mar 2025	594	5	533	18	3	71	20	57	4.42
Jun 2025	351	6	311	11	4	41	20	33	2.55
Sep 2025	411	6	337	7	4	72	27	52	4.02
Dec 2025	576	8	481	6	4	89	25	67	4.88
Mar 2026	701	10	560	4	4	131	29	94	6.85
Jun 2026	619	11	514	8	4	98	25	73	5.35

Profit & loss

Annual statement₹ Cr.

Year	Sales	Interest	Expenses	Other Income	Depreciation	Profit Before Tax	Tax	Net Profit	EPS (₹)
Mar 2015	85	0	79	0	2	3	0	3	0.29
Mar 2016	78	1	75	0	1	0	-1613	5	0.51
Mar 2017	38	3	36	2	1	1	13	0	0.04
Mar 2018	77	1	75	2	1	2	46	1	0.09
Mar 2019	461	0	433	2	1	29	-10	32	3.01
Mar 2020	661	1	609	-1	1	48	31	33	3.16
Mar 2021	633	9	565	4	5	58	29	41	3.9
Mar 2022	444	13	383	18	6	61	26	45	4.32
Mar 2023	1629	19	1454	8	7	156	26	116	10.5
Mar 2024	1371	26	1222	18	9	132	23	101	8.73
Mar 2025	2259	18	2052	58	10	239	21	189	14.66
Mar 2026	2039	32	1687	29	15	333	26	246	17.92
TTM	2307	35	1892	25	16	390	—	286	21.1

Shareholding pattern

As of Jun 2026%

Holder	Share
Promoters	56.57%
FIIs	0.93%
DIIs	0.38%
Public	42.13%

Shareholding trend

Ownership over time%

Quarter	Promoters	FIIs	DIIs	Government	Public
Sep 2023	53.33%	0.41%	0.1%	—	46.17%
Dec 2023	53.27%	0.2%	0%	—	46.53%
Mar 2024	55.28%	0.22%	0%	—	44.5%
Jun 2024	55.28%	0.2%	0%	—	44.51%
Sep 2024	57.12%	1.53%	0%	—	41.35%
Dec 2024	53.49%	1.76%	0%	—	44.75%
Mar 2025	53.37%	2%	0.11%	—	44.51%
Jun 2025	53.33%	1.86%	0.16%	—	44.65%
Sep 2025	53.33%	1.71%	0.15%	—	44.81%
Dec 2025	55.8%	2.03%	0.16%	—	42.01%
Mar 2026	55.85%	1.37%	0.13%	—	42.66%
Jun 2026	56.57%	0.93%	0.38%	—	42.13%

Balance sheet

Assets & liabilities₹ Cr.

Period	Equity Capital	Reserves	Borrowings	Other Liabilities	Total Liabilities	Fixed Assets	CWIP	Investments	Other Assets	Total Assets
Mar 2015	15	-11	9	56	70	16	0	0	54	70
Mar 2016	15	-6	37	71	118	15	0	0	103	118
Mar 2017	15	-5	35	15	60	15	0	0	45	60
Mar 2018	15	-4	41	45	98	14	0	0	83	98
Mar 2019	15	27	0	115	159	15	0	0	143	159
Mar 2020	15	60	9	53	138	22	0	0	116	138
Mar 2021	21	119	74	128	341	87	0	74	181	341
Mar 2022	21	163	85	112	381	85	0	74	222	381
Mar 2023	22	292	149	288	752	147	3	74	528	752
Mar 2024	23	450	161	114	748	144	9	81	514	748
Mar 2025	26	1224	158	272	1681	199	6	114	1362	1681
Mar 2026	27	1544	217	633	2422	192	1	106	2123	2422

Cash flows

Operating, investing & financing₹ Cr.

Period	Operating	Investing	Financing	Net cash flow
Mar 2015	-2	4	-2	-1
Mar 2016	-25	-2	26	0
Mar 2017	4	0	-3	1
Mar 2018	-4	1	4	0
Mar 2019	44	0	-41	3
Mar 2020	12	5	1	17
Mar 2021	123	-122	-5	-4
Mar 2022	-14	-5	2	-17
Mar 2023	28	-78	60	10
Mar 2024	10	-30	43	23
Mar 2025	-254	-82	568	231
Mar 2026	31	-216	102	-83

Key ratios

Historical financial ratios

Category	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Debtor Days	215	376	87	173	69	40	54	96	55	81	109	132
Inventory Days	4	7	22	33	7	2	4	8	3	3	1	2
Days Payable	281	382	156	264	92	27	70	79	49	21	31	75
Cash Conversion Cycle	-63	1	-47	-57	-15	15	-12	24	8	63	80	60
Working Capital Days	-34	-40	255	159	9	20	14	70	41	74	106	188
ROCE %	24%	6%	7%	6%	61%	85%	45%	25%	48%	29%	25%	23%

Frequently asked questions

Quick answers about this company's financials on Fincrux

What is the market cap of REFEX INDUSTRIES LIMITED (REFEX)?

The reported market capitalisation for REFEX INDUSTRIES LIMITED (REFEX) is ₹3,427Cr. on Fincrux. Figures may update with market data and filings.

What is the current share price of REFEX?

The current price shown for REFEX INDUSTRIES LIMITED (REFEX) on Fincrux is ₹250 with a 52-week high/low of ₹382/188.

What is the P/E ratio of REFEX INDUSTRIES LIMITED (REFEX)?

The stock P/E for REFEX INDUSTRIES LIMITED (REFEX) is 11.9 on Fincrux, with ROE at 17.5% and ROCE at 22.9%.

What were REFEX latest quarterly results?

For Jun 2026, REFEX INDUSTRIES LIMITED (REFEX) reported sales ₹619 Cr and net profit ₹73 Cr (figures in ₹ crore unless noted).

What are REFEX annual sales and net profit?

For TTM, REFEX INDUSTRIES LIMITED (REFEX) shows sales of ₹2,307 Cr and net profit of ₹286 Cr on the Fincrux profit & loss statement.

Who owns REFEX INDUSTRIES LIMITED (REFEX)?

Latest shareholding for REFEX INDUSTRIES LIMITED (REFEX) on Fincrux: Promoters 56.57% (Jun 2026), FIIs 0.93% (Jun 2026), DIIs 0.38% (Jun 2026), Public 42.13% (Jun 2026), No. of Shareholders 91,033% (Jun 2026).

Where can I find REFEX INDUSTRIES LIMITED (REFEX) financials?

REFEX INDUSTRIES LIMITED (REFEX) financials on Fincrux include quarterly results, profit and loss, cash flow, balance sheet, key ratios, and shareholding patterns for NSE/BSE research.

Does Fincrux show REFEX balance sheet and cash flow?

Yes. The REFEX INDUSTRIES LIMITED (REFEX) page on Fincrux includes balance sheet, cash flow statements, historical ratios, and ownership trends alongside quarterly and annual results.

Figures in ₹ crore unless noted. Data sourced for research and may lag filings.

Last updated 21 October 2026 at 6:00