Refex Industries profit jumps 35% as margins widen
Refex Industries reported a standalone net profit of ₹247.19 crore for FY26. Revenue dipped slightly to ₹2,039 crore.
— 5 earlier stories on Refex Industries Ltd. →What's new
- FY26 net profit rose to ₹247.19 crore from ₹183.56 crore.
- EBIT margins grew to 16.4% from 10.5% in FY25.
- Board recommended a final dividend of ₹1 per share.
Why this matters
The company traded top-line volume for bottom-line efficiency. By shifting toward higher-margin ash and coal handling, Refex grew profits by double digits despite a revenue decline. This shift is the primary driver of the current performance.
What we're watching
- Sustainability of the 16.4% EBIT margin in the coming quarters.
- Shareholder approval for the proposed ₹1 dividend.
- Whether revenue growth resumes as the strategic shift matures.
The full read
Refex Industries delivered a sharp profit increase for FY26, reporting ₹247.19 crore in standalone net profit. This 35% gain over the previous year's ₹183.56 crore comes despite a revenue contraction to ₹2,039 crore from ₹2,259 crore.
The divergence is explained by a deliberate strategic shift toward higher-margin operations within the company's ash and coal handling business. This pivot lifted EBIT margins to 16.4%, a jump from the 10.5% recorded in FY25. The fourth quarter was particularly strong, with net profit surging 67% to ₹93.74 crore. The board has proposed a final dividend of ₹1 per share to reward shareholders.
Profitability is up. The company is prioritizing margin quality over absolute revenue scale, a move that has clearly paid off for the bottom line this fiscal year.
Questions answered
- How did profit grow while revenue fell?
- Refex shifted its business mix toward higher-margin operations. This focus on profitability over volume pushed EBIT margins to 16.4%, up from 10.5% in the previous year.
- What was the performance in the final quarter?
- The fourth quarter saw a net profit of ₹93.74 crore. This is a 67% increase compared to the same period last year.
- What is the dividend payout?
- The board has recommended a final dividend of ₹1 per share. It is subject to approval by shareholders.
- What was the total revenue for the year?
- Revenue from continuing operations for FY26 was ₹2,039 crore. It was ₹2,259 crore in FY25.
Refex Industries Ltd.
Latest quarter · Mar 2026
Strength & growth
Story so far
All notes on REFEX →- 26 May 2026 · 12:44 PM IST Refex Industries profit jumps 35% as margins widen
- 3d ago Refex promoter pledges 35 lakh shares, buys 10 lakh same period
- 20d ago Refex lands ₹29 cr ash transport order, its second in weeks
- 44d ago Refex Industries delays demerger and resets margin guidance
- 45d ago Refex profit rises 67% in Q4 as wind energy deliveries kick in