Refex Industries Q4 & FY26 Results: Revenue ₹2,039 Cr, PAT ₹247 Cr
Refex Industries reported FY26 standalone revenue of ₹2,039 Cr and PAT of ₹247 Cr, up 34.7% YoY. EBITDA grew 68.5% YoY to ₹350 Cr. The company secured new orders totaling ~₹127 Cr and has an order book of ₹1,500 Cr. The proposed RGML demerger is progressing with key approvals obtained.
The announcement includes significant financial results with strong growth, updates on key business segments like wind energy and ash handling, and progress on a strategic demerger, all of which are material for investors.
The company reported strong year-on-year growth in revenue, EBITDA, and net profit, along with a healthy order book and progress on a strategic demerger, indicating positive financial and operational performance.
Refex Industries Limited has announced its audited financial results for the 4th Quarter and Financial Year Ended March 31, 2026. The company reported a standalone revenue of ₹2,039 crore and a Net Profit (PAT) of ₹247 crore for FY26, marking a year-on-year increase of 34.7%. EBITDA for the fiscal year stood at ₹350 crore, up by 68.5% YoY.
In the fourth quarter of FY26, standalone revenue was ₹701 crore, with EBITDA at ₹141.1 crore and PAT at ₹93.7 crore. The company highlighted strong financial performance supported by better execution, an improved business mix, and disciplined capital allocation.
The wind energy vertical has entered an active execution phase, contributing ₹233 crore in revenue during Q4 FY26, with its 5.3 MW WTG platform showing customer traction. The company also secured new orders, including approximately ₹78.35 crore for excavation and transportation of pond ash for NHAI road projects and a ₹49.22 crore material handling contract. As of March 31, 2026, the order book stood at approximately ₹1,500 crore.
Key financial metrics for FY26 (Standalone, Continuing Operations) include Revenue of ₹2,039 Cr, EBITDA of ₹350 Cr (+68.5% Y-o-Y), and Net Profit (PAT) of ₹247 Cr (+34.7% Y-o-Y). The company's Debt to Equity ratio remained low at 0.10 as of March 31, 2026, with ROCE at 19.4% and ROE at 15.6% for FY26.
The proposed demerger of RGML (Refex Green Mobility Limited) has received approvals from BSE, NSE, and lenders, with an application filed with NCLT on March 26, 2026. This demerger aims to unlock shareholder value by creating two independent business platforms: Refex Industries Limited and a new entity, Refex Mobility Limited.
Refex Industries is committed to ESG principles, targeting carbon neutrality by 2040 and water neutrality by 2035. The company has achieved significant milestones in waste management, energy transition, and ecosystem restoration.
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Refex Industries Limited filed this with the NSE as a statutory disclosure, categorised under quarterly results. It is a primary document, not a recommendation, and the desk marks it high impact, which is the band that most often changes something.
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