Refex Industries Limited

Refex Industries Limited (REFEX) financial statements and selected valuation metrics from NSE/BSE exchange filings through 30 June 2026.

Commodities›Chemicals›Chemicals & Petrochemicals›Industrial Gases

refex.co.in(opens the company website in a new tab)
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Key metrics

Price as of 2026-09-03

Stock price
₹279.25
Market cap
3,831 Cr
Stock P/E
14.5
P/B
2.54
Dividend yield
0.2%

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Share price

NSE closing price from historical market data.

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Statement tables · Consolidated

Switches quarterly, P&L, balance sheet, and cash flow. Key metrics and ratios stay on consolidated when available.

Amounts in ₹ Cr · NSE preferred when both exchanges report the same period · tap + to expand rows

Quarterly results

Quarterly · ₹ Cr · tap + rows to expand

MetricSept 2023Dec 2023BSE balance sheet (this exchange's own filing had none for this period)Mar 2024Jun 2024BSE balance sheet (this exchange's own filing had none for this period)Sept 2024Dec 2024BSE balance sheet (this exchange's own filing had none for this period)Mar 2025Jun 2025Sept 2025Dec 2025Mar 2026Jun 2026
Sales352 Cr306 Cr342 Cr595 Cr528 Cr717 Cr628 Cr383 Cr427 Cr576 Cr934 Cr916 Cr
Operating expenses (approx.)318 Cr272 Cr301 Cr547 Cr481 Cr666 Cr564 Cr345 Cr356 Cr486 Cr775 Cr809 Cr
EBITDA34 Cr34 Cr41 Cr48 Cr46 Cr51 Cr64 Cr38 Cr70 Cr90 Cr160 Cr107 Cr
OPM %9.7%11.2%12.1%8.1%8.8%7.1%10.2%9.9%16.5%15.6%17.1%11.7%
Other income5 Cr3 Cr8 Cr2 Cr7 Cr25 Cr16 Cr11 Cr5 Cr6 Cr4 Cr12 Cr
Interest6 Cr8 Cr8 Cr6 Cr5 Cr8 Cr9 Cr10 Cr7 Cr9 Cr10 Cr13 Cr
Depreciation3 Cr4 Cr4 Cr6 Cr6 Cr9 Cr12 Cr14 Cr5 Cr5 Cr5 Cr6 Cr
Profit before tax30 Cr25 Cr37 Cr39 Cr42 Cr59 Cr60 Cr24 Cr52 Cr69 Cr132 Cr87 Cr
Tax %29.4%32.9%8.8%24.9%26.1%15.6%19.5%16.0%36.2%28.8%31.7%30.0%
Net profit21 Cr17 Cr33 Cr29 Cr31 Cr50 Cr48 Cr20 Cr36 Cr53 Cr94 Cr65 Cr
EPS (₹)₹9.70₹7.64₹3.02₹2.54₹2.60₹3.99₹3.71₹1.58₹2.80₹3.94₹6.62₹4.65

Profit & loss (annual)

Annual · last column is TTM · ₹ Cr · tap + to expand

MetricMar 2019Mar 2020BSE balance sheet (this exchange's own filing had none for this period)Mar 2021BSE balance sheet (this exchange's own filing had none for this period)Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales461 Cr661 Cr633 Cr1,629 Cr1,383 Cr2,468 Cr2,277 CrSign in for TTM
Operating expenses (approx.)433 Cr609 Cr565 Cr1,455 Cr1,237 Cr2,258 Cr1,920 CrSign in for TTM
EBITDA28 Cr51 Cr68 Cr175 Cr146 Cr210 Cr357 CrSign in for TTM
OPM %6.1%7.8%10.7%10.7%10.6%8.5%15.7%Sign in for TTM
Other income2 Cr5 Cr4 Cr8 Cr18 Cr50 Cr25 CrSign in for TTM
Interest0.30 Cr0.91 Cr9 Cr19 Cr29 Cr28 Cr32 CrSign in for TTM
Depreciation0.96 Cr1 Cr5 Cr7 Cr14 Cr33 Cr20 CrSign in for TTM
Profit before tax29 Cr48 Cr58 Cr156 Cr121 Cr200 Cr277 CrSign in for TTM
Tax %-9.6%31.0%29.2%25.8%23.4%20.8%31.7%Sign in for TTM
Net profit32 Cr33 Cr41 Cr116 Cr93 Cr158 Cr204 CrSign in for TTM
EPS (₹)₹2.04₹21.37₹21.73₹53.89₹8.40₹12.93₹15.28Sign in for TTM
Dividend payout %———0.0%5.9%0.0%3.2%Sign in for TTM
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Trailing twelve months totals and margin rows

Balance sheet

Annual · ₹ Cr · tap + rows to expand

MetricMar 2019Mar 2020BSE balance sheet (this exchange's own filing had none for this period)Mar 2021BSE balance sheet (this exchange's own filing had none for this period)Mar 2023Mar 2024Mar 2025Mar 2026
Equity capital15 Cr15 Cr21 Cr22 Cr23 Cr26 Cr27 Cr
Reserves27 Cr60 Cr119 Cr292 Cr442 Cr1,187 Cr1,477 Cr
Borrowings0.18 Cr2 Cr0.11 Cr82 Cr117 Cr172 Cr162 Cr
Other liabilities116 Cr60 Cr202 Cr356 Cr216 Cr415 Cr1,172 Cr
Total liabilities159 Cr138 Cr341 Cr752 Cr798 Cr1,799 Cr2,843 Cr
Fixed assets (net)15 Cr15 Cr87 Cr147 Cr202 Cr333 Cr152 Cr
CWIP0.27 Cr0 Cr—3 Cr9 Cr10 Cr10 Cr
Investments0 Cr0 Cr74 Cr74 Cr74 Cr31 Cr0 Cr
Inventories8 Cr3 Cr5 Cr11 Cr7 Cr7 Cr76 Cr
Trade receivables88 Cr72 Cr93 Cr245 Cr306 Cr677 Cr886 Cr
Cash & bank4 Cr21 Cr17 Cr10 Cr33 Cr282 Cr184 Cr
Other assets44 Cr27 Cr65 Cr262 Cr167 Cr460 Cr1,535 Cr
Total assets159 Cr138 Cr341 Cr752 Cr798 Cr1,799 Cr2,843 Cr

Cash flows

Annual · ₹ Cr · tap + rows to expand · last column includes FCF

MetricMar 2019Mar 2020BSE balance sheet (this exchange's own filing had none for this period)Mar 2021BSE balance sheet (this exchange's own filing had none for this period)Mar 2023Mar 2024Mar 2025Mar 2026
Cash from operating activity———28 Cr3 Cr-265 Cr107 Cr
Cash from investing———-78 Cr-42 Cr-90 Cr-268 Cr
Cash from financing———60 Cr62 Cr603 Cr65 Cr
Net cash flow———10 Cr23 Cr249 Cr-95 Cr
Free cash flow (OCF − Capex)———-44 Cr-35 Cr-265 Cr107 Cr

Ratios

Ratios as reported or derived per annual period.

MetricMar 2019Mar 2020BSE balance sheet (this exchange's own filing had none for this period)Mar 2021BSE balance sheet (this exchange's own filing had none for this period)Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %67.9%64.5%47.9%44.4%25.9%16.4%18.5%
ROE %74.0%0.0%29.3%36.9%20.2%13.1%13.5%
Debtor days6940535581100142
Inventory days163102010514
Days payable217351753487211588
Cash conversion cycle-1328-112-27418-1068
Debt / equity0.00420.020.00080.260.250.140.11
Current ratio1.142.241.321.592.593.492.08
Net debt / EBITDA-0.130.000.000.410.58-0.52-0.06

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