Refex Industries Q2 FY26 Earnings Call Transcript
Refex Industries' Q2 FY26 earnings call transcript highlights a 15% sequential revenue growth to ₹431 crore, driven by coal and ash handling, and progress on the Refex Green Mobility de-merger.
The financial results and strategic decisions are significant but do not represent a fundamental shift in the company's operations.
The announcement discusses positive financial results, including increased revenue and EBITDA, and strategic moves like the demerger of the mobility business.
* Refex Industries Limited held an earnings conference call on November 6, 2025, to discuss the financial results for the second quarter and half year ended September 30, 2025. * Total income from continuing operations grew sequentially by 15% to ₹431 crore, driven by ash and coal handling. * EBITDA nearly doubled to ₹74 crore from the last quarter, and the net profit stood at ₹52 crore. * The de-merger of Refex Green Mobility Limited is in progress, involving a merger into RIL followed by a de-merger of the Mobility Undertaking into a separate listed entity, Refex Mobility Limited. The process is expected to take six to seven months. * The company is winding down its power trading operations to focus on core businesses. * The company has an order book of approximately ₹1200 crore in the coal and ash handling services business. * Venwind is manufacturing 5.3-megawatt wind turbines and has two orders, with revenues expected to be booked from the third and fourth quarters onwards. * The company is targeting a 60%-65% growth in daily handling capacity in the next three years, reaching around 105,000 to 110,000 metric tons per day. * Margins in the ash and coal handling business are expected to be in the range of 8% to 11%. * The first order for Venwind is 153.7 megawatt order which is of ₹750 Crore and the second one is close to 100 megawatt which is of ₹475 Crore.
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Refex Industries Limited filed this with the NSE as a statutory disclosure, categorised under concall transcript released. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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