Refex Industries lands ₹36.91 cr pond ash logistics contract
The two-year deal for excavation and transport adds to a project pipeline now nearing ₹1,500 crore.
— 4 earlier stories on Refex Industries Ltd. →What's new
- Refex Industries won a contract to excavate, load, and transport pond ash for a power producer.
- The project spans two years and involves moving ash to open-cast mines and NHAI sites.
- This win follows a recent ₹20.27 cr contract in the same ash and coal handling vertical.
Why this matters
The order accounts for 1.8% of annual revenue. It proves the company can convert its ₹1,500 crore pipeline into active work.
What we're watching
- Execution speed on the pond ash transport as the project scales.
- Further wins from the remaining ₹1,500 crore project pipeline.
- Impact of these logistics contracts on operating margins.
The full read
Refex Industries has secured a ₹36.91 crore contract to manage the excavation, loading, and transportation of pond ash for a power producer. The project spans two years. It involves moving material to open-cast mines and NHAI project sites.
This is the second win for the company's ash and coal handling vertical, following a ₹20.27 crore contract announced recently. The deal represents 1.8% of annual revenue. It is a concrete indicator of progress within the company's ₹1,500 crore project pipeline.
By locking in this work, Refex adds revenue visibility for the next two fiscal years. The win is a standard operational development that keeps the company's logistics business moving in line with its growth targets. It is a win.
Questions answered
- What is the scope of the new contract?
- Refex will handle the excavation, loading, and transportation of pond ash for a power producer. The material will be moved to various locations, including open-cast mines and NHAI project sites.
- How long will the project last?
- The contract is scheduled for execution over a two-year period.
- How significant is this order relative to the company's size?
- The ₹36.91 crore order represents 1.8% of the company's annual revenue and 0.8% of its market capitalization.
- What is the status of the company's broader project pipeline?
- The company's ash and coal handling vertical currently maintains a project pipeline of nearly ₹1,500 crore.
Story so far
All notes on REFEX →- 29 May 2026 · 3:37 PM IST Refex Industries lands ₹36.91 cr pond ash logistics contract
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