What does Refex Industries do?

Refex Industries Ltd specializes in refilling eco-friendly refrigerant gases (HFCs) and reported net sales of 628 Cr and a net profit of 48 Cr for the quarter ending March 2025. The company has a market cap of Rs 6,450 Cr and a P/E ratio of 40.00.

Overview:<BR>Refex Industries Ltd operates in the Other Chemical products industry, focusing on refilling eco-friendly non-ozone depleting refrigerant gases known as HydrofluoroCarbons (HFCs).<BR><BR>History:<BR>Refex Industries Limited, formerly known as Refex Refrigerants Limited, was incorporated on September 13, 2002. The latest quarterly results reported net sales and net profit for the period ending March 2025.<BR><BR>Financial Snapshot:<BR>Net Sales: 628 Cr (Quarterly Results - Mar 2025) <BR>Net Profit: 48 Cr (Quarterly Results - Mar 2025) <BR>Market Cap: Rs 6,450 Cr (Mid Cap)<BR><BR>Key Metrics:<BR>P/E: 40.00 <BR>Industry P/E: 25 <BR>Dividend Yield: 0.00% <BR>Debt Equity: -0.05 <BR>Return on Equity: 13.12% <BR>Price to Book: 5.27<BR><BR>Contact Details:<BR>Address: 67 Bazullah Road, T Nagar Chennai Tamil Nadu : 600017 <BR>Email: admin@refex.co.in <BR>Website: http://www.refex.co.in

Who are the peers of the Refex Industries?

Refex Industries' peers include Solar Industries, Linde India, PCBL Chemical, and others. Refex Industries has average management risk, excellent growth, and the highest 1-year return at 270.85%, while Linde India has the lowest return at -15.34%.

Peers: The peers of Refex Industries are Solar Industries, Linde India, PCBL Chemical, Prem. Explosives, GOCL Corpn., Stallion India, DIC India, Keltech Energies, Beezaasan Exp., and Natl. Oxygen.<BR><BR>Quality Snapshot: Excellent management risk is observed at Solar Industries and Beezaasan Exp., while Good management risk is found at Linde India, PCBL Chemical, and Beezaasan Exp. Average management risk is present at Refex Industries, Prem. Explosives, GOCL Corpn., Stallion India, DIC India, and Keltech Energies. Below Average management risk is noted at Natl. Oxygen. Growth is Excellent at Solar Industries, PCBL Chemical, Refex Industries, Stallion India, and the rest. Good growth is seen at Prem. Explosives and Beezaasan Exp., while Below Average growth is found at Linde India, GOCL Corpn., DIC India, and the rest. Capital Structure is Excellent at Solar Industries, Refex Industries, Stallion India, and the rest, while Average is noted at PCBL Chemical, and Below Average at Prem. Explosives, GOCL Corpn., and the rest.<BR><BR>Return Snapshot: Refex Industries has the highest 1-year return at 270.85%, while Linde India has the lowest at -15.34%. Compared to its peers, Refex Industries shows a significantly higher return. Additionally, GOCL Corpn. and DIC India have negative six-month returns.

Who are in the management team of Refex Industries?

As of March 2022, the management team of Refex Industries includes T Anil Jain (Chairman & Managing Director), Dinesh Kumar Agarwal (Director), T. Ramesh Dugar (Independent Director), Pillappan Amalanathan (Independent Director), and Susmitha Siripurapu (Director). They are responsible for the company's governance and strategic direction.

As of March 2022, the management team of Refex Industries includes:<BR><BR>1. T Anil Jain - Chairman & Managing Director<BR>2. Dinesh Kumar Agarwal - Director<BR>3. T. Ramesh Dugar - Independent Director<BR>4. Pillappan Amalanathan - Independent Director<BR>5. Susmitha Siripurapu - Director<BR><BR>These individuals play key roles in the governance and strategic direction of the company.

Who are the top shareholders of the Refex Industries?

The top shareholders of Refex Industries include Sherisha Technologies Private Limited with 53.37%, individual investors with 34.36%, and 55 Foreign Institutional Investors holding 2.0%. The highest public shareholder is Network 18 Media And Investments Ltd at 1.06%.

The top shareholders of Refex Industries include the promoters, with Sherisha Technologies Private Limited holding the largest share at 53.37%. Additionally, individual investors collectively own 34.36% of the company. Other notable shareholders include 55 Foreign Institutional Investors (FIIs) who hold 2.0% and mutual funds that are represented by 5 schemes with a combined holding of 0.11%. The highest public shareholder is Network 18 Media And Investments Ltd, which holds 1.06%.

How big is Refex Industries?

As of 24th July, Refex Industries Ltd has a market capitalization of 5,415.00 Cr, with net sales of 2,467.66 Cr and a net profit of 159.06 Cr reported in the latest four quarters.

As of 24th July, Refex Industries Ltd has a market capitalization of 5,415.00 Cr, categorizing it as a Mid Cap company.<BR><BR>In the latest four quarters, Refex Industries reported net sales of 2,467.66 Cr and a net profit of 159.06 Cr.<BR><BR>The latest annual period for the balance sheet is March 2025, with shareholder's funds amounting to 1,212.79 Cr and total assets of 1,785.84 Cr.

Has Refex Industries declared dividend?

Refex Industries Ltd has declared a 25% dividend, with an ex-date of August 19, 2025. The company has demonstrated strong total returns over various periods, particularly in the long term.

Refex Industries Ltd has declared a 25% dividend.<BR><BR>Dividend Details:<BR>- Percentage announced: 25%<BR>- Ex-date: 19 Aug 25<BR><BR>Dividend Yield: 0%<BR><BR>Total Returns by Period:<BR>In the last 3 months, the price return was -13.65%, the dividend return was 0.12%, resulting in a total return of -13.53%.<BR><BR>Over the past 6 months, the price return was -9.68%, the dividend return was 0.13%, leading to a total return of -9.55%.<BR><BR>For the 1-year period, the price return was 33.68%, the dividend return was 0.18%, culminating in a total return of 33.86%.<BR><BR>In the 2-year span, the price return was 153.93%, the dividend return was 2.15%, which resulted in a total return of 156.08%.<BR><BR>Over the last 3 years, the price return was 1356.16%, the dividend return was 10.54%, leading to a total return of 1366.7%.<BR><BR>In the 4-year period, the price return was 1217.04%, the dividend return was 11.44%, resulting in a total return of 1228.48%.<BR><BR>Finally, in the 5-year timeframe, the price return was 3623.15%, the dividend return was 50.22%, culminating in a total return of 3673.37%.<BR><BR>Overall, Refex Industries has declared a substantial dividend and has shown impressive total returns over various periods, particularly in the longer term, indicating strong performance and shareholder value.

When is the next results date for Refex Industries?

Refex Industries will announce its results on 04 November 2025.

Refex Industries is scheduled to declare its results on 04 November 2025.

How has been the historical performance of Refex Industries?

Refex Industries has experienced significant growth from March 2018 to March 2025, with net sales increasing from 77.37 Cr to 2,321.02 Cr, and profit after tax rising from 0.94 Cr to 182.01 Cr. The company has shown a consistent upward trend in revenue and profitability, despite negative cash flow from operating activities.

Answer:<BR>The historical performance of Refex Industries shows significant growth over the years, particularly from March 2018 to March 2025.<BR><BR>Breakdown:<BR>Refex Industries has demonstrated a remarkable increase in net sales, rising from 77.37 Cr in March 2018 to 2,321.02 Cr in March 2025. Total operating income followed a similar upward trajectory, reaching 2,321.02 Cr in March 2025, compared to just 77.37 Cr in March 2018. The company's operating profit (PBDIT) also saw substantial growth, climbing to 259.97 Cr in March 2025 from a mere 3.77 Cr in March 2018. Profit after tax increased significantly as well, reaching 182.01 Cr in March 2025, up from just 0.94 Cr in March 2018. The total assets of the company grew to 1,785.84 Cr in March 2025, compared to 149.45 Cr in March 2019, while total liabilities also increased to 1,785.84 Cr from 149.45 Cr in March 2019. Cash flow from financing activities surged to 603.00 Cr in March 2025, indicating strong financial support, despite cash flow from operating activities showing a negative trend at -264.00 Cr. Overall, Refex Industries has shown a consistent upward trend in revenue and profitability over the years, reflecting its growth and operational efficiency.

Are Refex Industries latest results good or bad?

Refex Industries' latest results are unfavorable, showing a 56.19% QoQ and 29.50% YoY decline in net profit to ₹21.17 crore, alongside a 38.83% QoQ drop in net sales. The company faces significant challenges, despite maintaining a strong balance sheet.

Refex Industries' latest results indicate a challenging performance. In Q2 FY26, the company reported a net profit of ₹21.17 crore, which represents a significant decline of 56.19% quarter-on-quarter (QoQ) and 29.50% year-on-year (YoY). Additionally, net sales dropped to ₹383.25 crore, down 38.83% QoQ and 35.15% YoY. This sharp contraction in revenue is concerning, especially given the company's previous growth trajectory in FY25, where sales surged by 78.50%.<BR><BR>The operating margin also came under pressure, declining to 9.87%, and the profit after tax margin fell to 5.36%, down 233 basis points QoQ. These declines reflect a combination of lower volumes, increased interest costs, and higher depreciation charges.<BR><BR>While the company maintains a strong balance sheet with a net cash position, the recent performance raises questions about its operational consistency and ability to sustain profitability in the near term. Overall, the latest results can be characterized as unfavorable, highlighting significant challenges that the company must navigate moving forward.

Should I buy, sell or hold Refex Industries?

Is Refex Industries overvalued or undervalued?

As of November 14, 2025, Refex Industries is considered very expensive and overvalued with a high PE ratio of 28.26, underperforming the market with a year-to-date return of -26.88% compared to the Sensex's gain of 8.22%.

As of 14 November 2025, Refex Industries has moved from expensive to very expensive in its valuation grade. The company is currently overvalued, given its high PE ratio of 28.26, EV to EBIT of 24.06, and Price to Book Value of 3.83. In comparison to its peers, Linde India has a significantly higher PE ratio of 95.6, while Petronet LNG presents a much lower PE of 11.19, indicating that Refex Industries is priced at a premium relative to some competitors.<BR><BR>The company's recent stock performance has been underwhelming, with a year-to-date return of -26.88%, contrasting sharply with the Sensex's gain of 8.22% over the same period. This further reinforces the notion that Refex Industries is overvalued in the current market environment.

Is Refex Industries technically bullish or bearish?

As of November 24, 2025, Refex Industries shows a bearish technical trend with moderate strength, indicated by bearish MACD, Bollinger Bands, and moving averages, despite a mildly bullish KST, reflecting significant underperformance against the Sensex.

As of 24 November 2025, the technical trend has changed from mildly bearish to bearish. The current technical stance for Refex Industries is bearish with a moderate strength. Key indicators driving this stance include a bearish MACD on the weekly chart, bearish Bollinger Bands on both weekly and monthly time frames, and a bearish moving average on the daily chart. Additionally, the Dow Theory indicates a mildly bearish outlook on both weekly and monthly levels. Despite a mildly bullish KST on the weekly, the overall sentiment remains negative, particularly with the stock's significant underperformance compared to the Sensex over various periods.

Why is Refex Industries falling/rising?

As of 21-Dec, Refex Industries Ltd's stock price is rising slightly after two days of decline, with an 8.51% increase over the past week. However, it has a year-to-date decline of 42.79% and faces challenges with net sales and cash flow, despite some strengths in debt management and operating profit growth.

As of 21-Dec, Refex Industries Ltd's stock price is currently rising, with a change of 0.6 (0.22%) noted in the latest trading session. This upward movement follows a trend reversal, as the stock has gained after two consecutive days of decline. Additionally, the stock's performance over the past week has been strong, with an increase of 8.51%, contrasting with a slight decline in the benchmark Sensex by 0.40%.<BR><BR>Despite the recent rise, the stock has been underperforming over longer periods, with a year-to-date decline of 42.79% and a one-year drop of 45.32%. This underperformance is notable given that the broader market, represented by the BSE500, has generated positive returns of 3.86% over the same timeframe. The company's financial metrics reveal some challenges, including a significant drop in net sales over the last six months by 22.19% and a negative operating cash flow of Rs -262.25 Cr.<BR><BR>However, the company does exhibit some strengths, such as a low Debt to EBITDA ratio of 0.65, indicating a strong ability to service its debt, and a healthy long-term growth rate in operating profit of 30.59%. Despite these positive factors, the stock's valuation appears expensive with a Price to Book Value ratio of 3, and it has been trading below its moving averages, suggesting a lack of momentum.<BR><BR>In summary, while Refex Industries is experiencing a short-term rise in stock price, the overall trend remains concerning due to significant declines over the past year and mixed financial indicators.

Which are the latest news on Refex Industries?