By S, JHA
Strong Q4 earnings, led by a 97% jump in net profit, drive investor optimism as REFEX shares surge 8.5%
Mumbai, May 27, 2026 — Shares of Chennai-based Refex Industries Limited surged 8.5% in Wednesday’s trade, with the rally driven by a strong set of quarterly and annual earnings declared by the board on May 26, 2026.
Refex Industries reported a 57% rise in consolidated Q4 FY26 revenue to ₹934.2 crore, while net profit nearly doubled, rising 97% to ₹94.4 crore compared with ₹47.9 crore in Q4 FY25. Profit before tax also surged, rising to ₹132.3 crore from ₹59.5 crore in the year-ago quarter. On a sequential basis, revenue grew 62% from ₹576 crore in Q3 FY26, while profit rose 79% from ₹52.7 crore.
For the full year, the numbers were equally impressive. Refex Industries posted FY26 standalone PAT of ₹247.19 crore from continuing operations — a 34.7% rise — even as standalone revenue declined 9.7%, underscoring a dramatic margin re-rating in its core Ash & Coal Handling business. “Standalone EBITDA jumped 46% to ₹380.05 crore, with EBITDA margin expanding from 11.5% to 18.6% — a 710 basis-point improvement in a single year,” reported Free Press Journal.
The Ash & Coal Handling segment maintained strong operational momentum, with an order book of nearly ₹1,500 crore as of March 31, 2026. “The Wind Energy segment entered an active execution phase, contributing ₹233 crore during Q4, while the company’s 5.3 MW wind turbine platform received ALMM approval during the year,” said Trade Brains in a report.
The board recommended a final dividend of ₹1 per equity share of face value ₹2 each for FY26, subject to shareholder approval. The company reported reserves of ₹1,477 crore at the end of March 2026.
Refex has scheduled an earnings call for May 28, 2026, at 11:00 AM IST, where Chairman & MD Anil Jain and the CFO will discuss the results with analysts and investors. The stock was trading at ₹320 in the afternoon trade. The 52-week high of the stock is ₹534, while the market cap stands at ₹4400 crores.
(Disclaimer: This is for informational purposes only and does not constitute investment advice. Consult a SEBI-registered advisor before making any investment decisions.)
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