Refex Industries Limited — Investor Meet, 20-08-2025: Analysts/Institutional Investor Meet/Con. Call Updates

Refex Industries saw Q1 FY26 revenue impacted by early monsoons affecting its core ash & coal handling business. Standalone revenue was INR365.9 Cr, PAT INR33 Cr, maintaining margins. Management expects strong recovery from Q3, driven by new contracts and easing weather.

The company is exiting low-profit power trading and deprioritizing refrigerant gas. Green Mobility is growing, aiming for EBITDA breakeven by year-end. Their new Wind business has begun invoicing. Refex, the largest organized player in the vast ash handling market, is operationally ready for significant growth. A dividend of INR0.50/share was declared.