Archive · 28 Nov 2025
Refex Industries Secures ₹100 Crore Order
Refex Industries, a company that trades eco-friendly gases and handles ash, got a big order worth ₹100 crore.
This is their fourth order in November, and it's not from any of their related companies.
The order is for moving ash from ponds or the bottom of places.
The company also did well in the last quarter, making more profit and improving their efficiency.
Their stock has done really well over the last few years, but it's been going down in 2025.
Still, it's much higher than it was three or five years ago.
The stock price went up a lot on the news, but it's still risky because it goes up and down a lot.
Refex Industries secured a ₹100 crore order for excavation, loading, and transportation of pond ash/bottom ash from a large business conglomerate.
This is the company's fourth order in November, with previous orders totaling ₹76.5 crore, strengthening its order book.
The order is not a related-party transaction, as neither the promoter nor the promoter group has any interest in the entity awarding the order.
Refex Industries reported a 10% YoY improvement in net profit for Q2, with revenue remaining flat at ₹431 crore and EBITDA margins expanding to 17.44%.
The company's stock has delivered impressive long-term gains, up 532% over three years and 1,900% over five years, despite a 33.36% decline in 2025.
- Who
- Refex Industries, a company specializing in eco-friendly refrigerant gases and ash handling
- What
- Secured a ₹100 crore order for excavation, loading, and transportation of pond ash/bottom ash
- When
- Order announced post-market hours on November 27, 2025, with the stock expected to be in focus on November 28, 2025
- Where
- India, with the order coming from a large business conglomerate
- Why
- The order is part of the company's fourth order win in November, contributing to its growing order book and reflecting its focus on sustainable growth and cost efficiency
Bullish View
Bearish View
Stock Performance
Bullish View
The stock has shown impressive long-term gains, up 532% over three years and 1,900% over five years, indicating strong growth potential.
Bearish View
The stock has declined 33.36% in 2025, and the high volatility indicated by a beta of 1.1 suggests potential risks.
- Company
- Refex Industries
- Order Value
- ₹100 crore
- Order Details
- Excavation, loading, and transportation of pond ash/bottom ash
- Q2 Net Profit
- ₹52 crore (10% YoY improvement)
- Q2 Revenue
- ₹431 crore (flat YoY)
- Q2 EBITDA
- ₹74 crore (746 basis points margin expansion)
- Stock Performance (2025)
- Down 33.36%
- Stock Performance (3 years)
- Up 532%
- Stock Performance (5 years)
- Up 1,900%
- Promoter Stake
- 55.92%
- P/E Ratio
- 24.52/24.36 (standalone/consolidated)
- P/B Value
- 7.80
- EPS
- 14.70/14.79 (standalone/consolidated)
- RoE
- 31.81%
- Beta
- 1.1
- Market Cap
- ₹4,929.54 crore
