Mumbai: Refex Industries Limited reported strong consolidated financial performance for the fourth quarter of FY26, with revenue from operations rising 57 percent year-on-year to Rupees 934.2 crore compared with Rupees 594.5 crore in Q4 FY25. Net profit increased 97 percent to Rupees 94.4 crore from Rupees 47.9 crore a year ago. Profit before tax rose to Rupees 132.3 crore from Rupees 59.5 crore in the corresponding quarter last year. Sequentially, revenue grew 62 percent from Rupees 576.0 crore in Q3 FY26, while profit rose 79 percent from Rupees 52.7 crore. The company’s audited financial results were approved by the board on May 26.
Sequential And Annual Growth
Total income for the quarter stood at Rupees 938.1 crore against Rupees 610.5 crore in Q4 FY25 and Rupees 581.8 crore in the preceding quarter. Total expenses increased to Rupees 790.1 crore from Rupees 542.5 crore in Q4 FY25 due to higher material and service costs. Finance costs rose to Rupees 10.1 crore from Rupees 5.2 crore a year earlier, while depreciation expense increased to Rupees 5.3 crore from Rupees 3.0 crore. Tax expenses for continuing and discontinuing operations stood at Rupees 37.8 crore compared with Rupees 11.6 crore in the year-ago quarter. The company reported total comprehensive income of Rupees 100.2 crore during the quarter.
What Drove The Numbers
The ash and coal handling business remained the largest contributor, generating quarterly segment revenue of Rupees 690.4 crore compared with Rupees 591.7 crore a year earlier. Wind power operations contributed Rupees 233.1 crore during the quarter, while the solar power segment generated Rupees 2.9 crore.
Refex said its power trading, refrigerant gases, and green mobility businesses were classified as discontinued operations under Ind AS 105. The company stated that the refrigerant gases segment faced pricing pressure and operational challenges, while the power trading business had low volumes and margins. Basic earnings per share from continuing operations rose to Rupees 7.46 from Rupees 4.73 a year ago.
Full-Year Performance
For FY26, consolidated revenue from operations increased marginally to Rupees 2,277 crore from Rupees 2,259 crore in FY25. Net profit rose 29 percent to Rupees 203.7 crore compared with Rupees 158.4 crore in the previous financial year. Profit before tax increased to Rupees 277.5 crore from Rupees 199.9 crore. The board recommended a final dividend of Rupees 1 per equity share of face value Rupees 2 each for FY26, subject to shareholder approval. Refex also reported reserves of Rupees 1,477 crore at the end of March 2026.
Disclaimer: This report is based on audited financial results filed by the company and does not constitute investment advice.
