Refex Industries share price
NSE: REFEXBSE: 532884Other UtilitiesSmall Cap
Formerly Refex Refrigerants
Last close ₹226.55down ₹8.90 (3.78%)BSE ₹226.95
Share price at the NSE close on 23 Oct 2026. Previous close ₹235.45.
52-week range of traded prices to 23 Oct 2026
₹188.00Low, 23 Mar 2026₹382.00High, 6 Nov 2025
- Next results date: the board meets on 28 Oct 2026 to consider: financial results.
- Market capMarket capitalisation. Share price times the number of shares: what the whole company is worth at the day's price. The rank is by average market value over the six months to Jun 2026, among listed companies.
- ₹3,109 Cr922nd largest listed
- P/EPrice to earnings, trailing. Market cap divided by the profit of the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders, after the share of the other owners of its subsidiaries: what investors pay for each rupee of a year's profit. The filing of 29 Jul 2026
- 12.6
- P/E without one-offsPrice to earnings without one-off items. Market cap divided by core profit: the profit of the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders, less one-off items (exceptional items and the result of businesses sold or closed). Shown where the one-off items move that profit by more than a tenth. The last twelve months' profit includes −₹39 crore of one-off items, the largest of them in the quarter to Mar 2026.
- 10.9
- P/BPrice to book. Market cap divided by the net worth that belongs to the company's own shareholders, its assets less everything it owes and less the other owners' share of its subsidiaries, on its latest balance sheet. The filing of 13 Jul 2026
- 2.1
- Dividend yieldDividend yield. Dividends paid per share in the twelve months to the day, as a percentage of the day's share price.
- 0.44%
- ROEReturn on equity. Profit over the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders, as a percentage of their net worth, the money they have in the business. Net worth is the average of the latest balance sheet and the one a year before it. The filing of 29 Jul 2026
- 18.1%
- ROE without one-offsReturn on equity without one-off items. Core profit, the profit of the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders less one-off items (exceptional items and the result of businesses sold or closed), as a percentage of the same net worth as the return on equity. Shown where the one-off items move that profit by more than a tenth. The last twelve months' profit includes −₹39 crore of one-off items, the largest of them in the quarter to Mar 2026.
- 21.0%
- ROCEReturn on capital employed. Operating profit after depreciation (revenue less operating expenses and depreciation, without other income and one-off items) as a percentage of all the money the business runs on: the whole group's net worth, the other owners of its subsidiaries included, plus borrowings. Lease liabilities are not counted: the results filings do not state them. The profit is over the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly); net worth and borrowings are on the latest balance sheet. The filing of 29 Jul 2026
- 24.3%
- Debt to equityDebt to equity. Borrowings divided by the whole group's net worth, the other owners of its subsidiaries included: rupees borrowed for each rupee of equity in the business. Lease liabilities are not counted: the results filings do not state them. From the balance sheet at the end of Mar 2026. The filing of 13 Jul 2026
- 0.11
- Volume, NSEVolume. Shares traded on the last trading day; delivery is the part buyers kept rather than sold again the same day.
- 2,89,35248.8% delivered
Results
Standalone, as consolidated accounts are on record for only 9 of the last ten years; ₹ crore, the charts by years to March, the table by quarter.Quarterly results
Quarter to Jun 2026, against the quarter beforeFiled 29 Jul
- RevenueRevenue. The pill is the change in revenue against the quarter before: this period's figure divided by that one's, less one, in per cent.
- ₹619 Crdown 11.67%
- Net profitNet profit. The pill is the change in net profit against the quarter before: this period's figure divided by that one's, less one, in per cent.
- ₹73 Crdown 21.89%
- Net marginNet margin. Net profit as a percentage of revenue: how much of each rupee of sales is left after every cost, interest and tax.
- 11.9%
Revenue by year
Net profit by year, a loss in red
The years either side of a change of basis do not compare. From the year to Mar 2026, the company's revenue for that year, ₹2,039 Cr, differs from its quarters added, ₹2,066 Cr.
| ₹ crore | Sep 2024Filed 14 Nov | Dec 2024Filed 28 Jan | Mar 2025Filed 12 Jun | Jun 2025Filed 12 Aug | Sep 2025Filed 4 Nov | Dec 2025Filed 21 Jan | Mar 2026Filed 26 May | Jun 2026Filed 29 Jul |
|---|---|---|---|---|---|---|---|---|
| Revenue | 520 | 708 | 612 | 365 | 423 | 576 | 701 | 619 |
| Net profit | 37 | 59 | 57 | 33 | 52 | 67 | 94 | 73 |
| Net marginNet margin. Net profit as a percentage of revenue: how much of each rupee of sales is left after every cost, interest and tax. | 7.2% | 8.3% | 9.3% | 9.0% | 12.3% | 11.6% | 13.4% | 11.9% |
Standalone. The last eight quarters. The latest is shaded.
The quarters either side of a change of basis do not compare. From the quarter to Mar 2026, the company's revenue for the year to Mar 2026, ₹2,039 Cr, differs from its quarters added, ₹2,066 Cr.
Business segments
Share of revenue, year to Mar 2026, consolidated. That year's accounts report a discontinued business, which these segments may include.Segment revenue and profit
- Ash & Coal Handling BusinessAsh & Coal Handling Business, share of revenue. The segment's revenue as a percentage of the revenue of all the company's reported business segments together, leaving out eliminations between them and unallocated items.₹2,013 Crdown 9.97%83.5%
- WindpowerWindpower, share of revenue. The segment's revenue as a percentage of the revenue of all the company's reported business segments together, leaving out eliminations between them and unallocated items.₹238 Cr9.8%
- Green mobilityGreen mobility, share of revenue. The segment's revenue as a percentage of the revenue of all the company's reported business segments together, leaving out eliminations between them and unallocated items.₹100 Cr4.1%
- Refrigerant Gas- Manufacturing(Refilling) and SalesRefrigerant Gas- Manufacturing(Refilling) and Sales, share of revenue. The segment's revenue as a percentage of the revenue of all the company's reported business segments together, leaving out eliminations between them and unallocated items.₹35 Crdown 43.90%1.4%
- Sale Of ServiceSale Of Service, share of revenue. The segment's revenue as a percentage of the revenue of all the company's reported business segments together, leaving out eliminations between them and unallocated items.₹15 Cr0.6%
- Solar Power - Generation and Related ActivitiesSolar Power - Generation and Related Activities, share of revenue. The segment's revenue as a percentage of the revenue of all the company's reported business segments together, leaving out eliminations between them and unallocated items.₹10 Cr0.4%
- Power TradingPower Trading, share of revenue. The segment's revenue as a percentage of the revenue of all the company's reported business segments together, leaving out eliminations between them and unallocated items.₹1 Crdown 99.23%0.0%
- OthersOthers, share of revenue. The segment's revenue as a percentage of the revenue of all the company's reported business segments together, leaving out eliminations between them and unallocated items.₹1 Cr0.1%
The pill is the change in revenue on the year before; the share is of all the businesses together.
Valuation
Today, against the company's own history. Its history crosses a change of basis in the accounts in the year to Mar 2026: days before it are of the company before the change.PE ratio and valuation history
Price to earningsPrice to earnings, trailing. Market cap divided by the profit of the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders, after the share of the other owners of its subsidiaries: what investors pay for each rupee of a year's profit.
At or below today's level on 52% of 2,292 trading days over the last 10 years.
LowestHighest
Its median10.3Industry median16.5
Dividend yieldDividend yield. Dividends paid per share in the twelve months to the day, as a percentage of the day's share price. When a year's dividend goes ex later than the year before's, the yield reads zero for the days between; a run of under 60 such trading days is left out of the yield's medians and percentiles. The ex-date is the day from which a buyer of the share no longer gets the dividend.
At or below today's level on 88% of 2,390 trading days over the last 10 years.
LowestHighest
Its median0.00%Industry median0.31%
Where the return came from
Yearly rates to Mar 2026, per-share figures restated for splits and bonuses.
| Over | Return a year | Earnings growth | Change in P/E | Dividend yield |
|---|---|---|---|---|
| 1 year | −49.2% | +22.2% | −59.1% | 0.8% |
| 3 years | +58.8% | +19.5% | +32.7% | 0.3% |
| 5 years | +59.3% | +35.7% | +17.1% | 0.3% |
Return is price growth plus the average dividend yield. Change in P/E is (1 + price growth) / (1 + earnings growth) - 1, so the parts compound rather than add. Earnings growth over 1, 3 and 5 years is on profit divided by shares in issue at both ends: the earnings per share stated for one end does not match that year's profit and share count.
Mutual funds holding it
8 funds disclosed a holding for Sep 2026. What they did in Sep 2026, against each fund's month before. 8 of the 8 funds that added or cut are index funds, ETFs or arbitrage funds: an index fund or ETF holds what its index holds, and an arbitrage fund holds the share against a sale of its future.
- AddedAdded. Funds that held more shares than at the end of the month before.
- 1
- CutCut. Funds that held fewer shares than at the end of the month before.
- 7
| Fund | |||
|---|---|---|---|
 Motilal Oswal Nifty Microcap 250 Index FundMotilal Oswal Mutual Fund | 1,60,496 | 0.18% | ₹4.26 Cr |
| Motilal Oswal BSE Clean Environment Index FundMotilal Oswal Mutual Fund | 7,889 | 0.43% | ₹0.21 Cr |
 Groww Nifty Total Market Index FundGroww Mutual Fund | 1,049 | 0.01% | ₹0.03 Cr |
 Angel One Nifty Total Market Index FundAngel One Mutual Fund | 175 | 0.01% | ₹46,420 |
| Motilal Oswal BSE 1000 Index FundMotilal Oswal Mutual Fund | 174 | 0.01% | ₹46,000 |
 Mirae Asset Nifty Total Market Index FundMirae Asset Mutual Fund | 144 | 0.01% | ₹38,000 |
 Bandhan Nifty Total Market Index FundBandhan Mutual Fund | 125 | 0.01% | ₹33,000 |
| Angel One Nifty Total Market ETFAngel One Mutual Fund | 122 | 0.01% | ₹32,360 |
Portfolios disclosed for Sep 2026. Weight is the holding as a share of the fund's assets.
Peers and competitors
Waste Management, 16 listed companies, priced on 23 Oct 2026. The table lists the 8 companies closest to Refex Industries in market cap.
Where the company sits among the companies nearest its size
| Company | |||||||||
|---|---|---|---|---|---|---|---|---|---|
 EMSEMSLIMITED | 1,582 | 23.2 | 1.5 | 15.1 | −33.9% | −63.1% | 6.7% | 8.4% | 0.53% |
 Antony Waste Handling CellAWHCL | 796 | 13.6 | 1.1 | 5.9 | +11.8% | −31.8% | 8.4% | 7.4% | 0.18% |
 Namo eWaste ManagementNAMOEWASTE | 762 | 53.1 | 7.4 | – | +29.9% | +69.6% | 15.0% | – | 0.00% |
 Effwa Infra & ResearchEFFWA | 750 | 26.2 | 6.1 | – | +36.8% | +42.3% | 26.2% | – | 0.31% |
 Eco RecyclingECORECO | 735 | 30.6 | 6.6 | 22.1 | +31.9% | – | 24.2% | 27.0% | 0.26% |
 Z-Tech (India)ZTECH | 600 | 16.3 | 2.7 | – | +66.7% | +81.6% | 18.7% | – | 0.00% |
 Concord Enviro SystemsCEWATER | 476 | – | 0.8 | 36.2 | −9.0% | – | – | −0.4% | 0.00% |
 Hi-Green CarbonHIGREEN | 349 | 101.8 | 3.9 | – | +43.3% | −69.2% | 3.9% | – | 0.00% |
Market cap in ₹ crore. Growth is the last twelve months against the twelve before. A figure is left empty where it would rest on a loss or the company has under a year of results on record. ROE is the shareholders' profit over their net worth. ROCE is profit before interest and tax over the whole group's net worth plus borrowings, as in the figures at the top of the page.
Dividends
Per share, by the year it was paid for, and the latest payments.Dividend history and dates
Dividend per share, ₹, restated for later splits and bonuses
Dividend per share. The dividends declared for the year, each restated to today's share count by the splits and bonuses after its own ex-date, added up.Highest ₹1.50 a share, year to Mar 2026.
| Ex-date | Type | Per share |
|---|---|---|
| 24 Jul 2026 | FinalFinal dividend. Called final by its date: the company did not say which kind it was, and it went ex within six months after the company's year end, the time in which the annual general meeting that declares the final dividend must be held. | ₹1.00 |
| 19 Aug 2025 | Interim | ₹0.50 |
| 20 Feb 2024 | Interim | ₹0.50 |
| 14 Sep 2023 | FinalFinal dividend. Called final by its date: the company did not say which kind it was, and it went ex within six months after the company's year end, the time in which the annual general meeting that declares the final dividend must be held. | ₹2.00 |
| 16 Sep 2021 | FinalFinal dividend. Called final by its date: the company did not say which kind it was, and it went ex within six months after the company's year end, the time in which the annual general meeting that declares the final dividend must be held. | ₹0.50 |
| 11 Jan 2021 | Interim | ₹1.00 |
Latest payments, as declared, by ex-date.
Latest announcements
Routine notices left out.Share news and announcements
Oct 2026
Refex Industries share price by year
Each calendar year to 2025.Refex Industries share price history
| Year | Close at year end | Change | Highest close | Lowest close |
|---|---|---|---|---|
| 2025 | 259.90 | −45.9% | 518.75 | 250.85 |
| 2024 | 480.80 | +299.6% | 573.75 | 111.34 |
| 2023 | 120.32 | +116.1% | 177.51 | 44.57 |
| 2022 | 55.67 | +96.6% | 64.23 | 20.00 |
| 2021 | 28.32 | +44.3% | 32.97 | 15.87 |
| 2020 | 19.63 | +80.9% | 23.37 | 6.18 |
| 2019 | 10.85 | +168.6% | 25.44 | 3.54 |
| 2018 | 4.04 | −15.7% | 4.82 | 2.32 |
| 2017 | 4.79 | +53.0% | 5.90 | 2.59 |
| 2016 | 3.13 | +82.0% | 4.81 | 1.40 |
₹ per share, adjusted for splits and bonuses since. Change is on the close at the end of the year before.
Recent sessions
The last 10 trading days to 23 Oct 2026, as traded on NSE.
| Date | Open | High | Low | Close | Average price | Volume | Delivery |
|---|---|---|---|---|---|---|---|
| 23 Oct 2026 | 239.90 | 239.90 | 222.35 | 226.55 | 226.37 | 2,89,352 | 48.8% |
| 22 Oct 2026 | 238.50 | 245.65 | 234.00 | 235.45 | 238.28 | 2,45,178 | 36.1% |
| 21 Oct 2026 | 250.05 | 251.00 | 235.95 | 239.15 | 240.69 | 2,84,244 | 46.1% |
| 19 Oct 2026 | 257.00 | 259.50 | 248.00 | 249.70 | 253.26 | 2,56,094 | 49.6% |
| 16 Oct 2026 | 261.60 | 262.85 | 256.00 | 256.55 | 258.52 | 1,20,419 | 62.1% |
| 15 Oct 2026 | 265.55 | 268.70 | 260.00 | 261.40 | 263.25 | 1,65,902 | 48.6% |
| 14 Oct 2026 | 252.15 | 275.00 | 251.25 | 266.40 | 263.15 | 13,65,528 | 41.3% |
| 13 Oct 2026 | 255.35 | 257.95 | 249.30 | 252.00 | 252.47 | 2,03,473 | 49.9% |
| 12 Oct 2026 | 255.90 | 259.65 | 253.80 | 254.35 | 255.96 | 1,17,231 | 55.7% |
| 9 Oct 2026 | 258.15 | 259.75 | 251.40 | 254.40 | 255.43 | 2,25,810 | 44.8% |
Prices in ₹ per share as traded, not adjusted.
Price adjustments
What the price chart is corrected for, so it reads as one share held throughout.Stock split history
| Ex-date | Event | Price factor | What happened |
|---|---|---|---|
| 22 Mar 2024 | Split | 0.2000 | Each share became 5. |
| 16 Jun 2020 | Rights issue | – | Shareholders were offered new shares. Noted, not adjusted for. |
Earlier prices are multiplied by the factor, so the chart reads as one share held throughout. Any other event is noted and not adjusted for.
Company details
- Legal name
- Refex Industries Limited
- NSE symbol
- REFEX
- BSE code
- 532884
- ISIN
- INE056I01025
- Industry
- Other Utilities
- Listed
- Aug 2007 on BSE, Dec 2009 on NSE
- Face value
- ₹2
- CIN
- L45200TN2002PLC049601
- Corporate identity number, the registrar of companies' code for it