Refex Industries

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.

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.

Are Refex Industries Ltd latest results good or bad?

Refex Industries Ltd's latest results show strong profit growth with a 76.85% increase in net profit, but revenue stagnation and a significant stock price decline raise concerns about sustainability, indicating a mixed overall performance.

Refex Industries Ltd's latest results present a mixed picture. In the second quarter of FY26, the company reported a consolidated net profit of ₹37.44 crore, which is a significant increase of 76.85% compared to the previous quarter and a 20.54% increase year-on-year. This strong profit growth is a positive indicator of operational recovery.<BR><BR>However, net sales for the same quarter were ₹426.85 crore, reflecting a 16.62% increase from the previous quarter but a slight decline of 0.27% compared to the same quarter last year. This stagnation in revenue growth raises concerns about the sustainability of the company's performance, especially given the extreme volatility in quarterly sales figures.<BR><BR>While the operating margin improved to 16.51% and the profit after tax (PAT) margin rose to 10.61%, indicating better operational efficiency, the overall revenue trend remains a concern. The company's stock has also seen a dramatic decline, trading 55.81% below its 52-week high, which suggests market skepticism about its future growth prospects.<BR><BR>In summary, while there are positive signs in terms of profit growth and margin expansion, the flat revenue performance and significant stock price decline indicate that the latest results are not wholly positive and warrant caution moving forward.

Should I buy, sell or hold Refex Industries Ltd?

Why is Refex Industries Ltd falling/rising?

As of 16-Mar, Refex Industries Ltd's stock price is Rs. 193.85, down 2.1%, marking a four-day decline of 7.76% and a new 52-week low of Rs. 190. The stock has significantly underperformed the market, with a year-to-date drop of 25.46% compared to the Sensex's 11.40%, driven by falling net sales and high interest expenses.

As of 16-Mar, Refex Industries Ltd is experiencing a decline in its stock price, currently at Rs. 193.85, which reflects a change of -4.15 (-2.1%). The stock has been on a downward trend, having fallen consecutively for the last four days, resulting in a total decline of -7.76% during this period. Additionally, the stock hit a new 52-week low of Rs. 190 today, indicating significant selling pressure.<BR><BR>The stock's performance over various time frames shows a stark underperformance compared to the broader market. Over the past week, Refex Industries has decreased by -7.25%, while the Sensex has only fallen by -2.66%. In the past month, the stock has dropped -16.91%, compared to a -9.34% decline in the Sensex. Year-to-date, the stock is down -25.46%, significantly worse than the Sensex's -11.40%. Over the past year, the stock has plummeted by -49.21%, while the Sensex has gained +2.27%.<BR><BR>Several factors contribute to this decline. The company's net sales for the last quarter fell by -16.04%, and it reported its highest interest expenses at Rs. 9.14 crore. Furthermore, a notable 28.84% of promoter shares are pledged, which can exert additional downward pressure on stock prices, especially in a falling market. The proportion of pledged shares has also increased by 1.64% over the last quarter.<BR><BR>Despite some positive indicators, such as a low Debt to EBITDA ratio and healthy long-term growth in net sales and operating profit, these have not been sufficient to counteract the negative sentiment surrounding the stock. The overall market conditions and the company's recent performance have led to a significant decline in investor confidence, resulting in the stock's current downward trajectory.

Which are the latest news on Refex Industries?