Refex Industries Shares In Focus After Securing ₹20.27 Cr Order for Logistics And Material Handling Services

Synopsis: Refex Industries has secured a fresh order worth approximately Rs. 20.27 crore from a leading Miniratna company for logistics and material handling services in the infrastructure and mining sector. The contract is expected to be executed within six months and further strengthens the company’s growing industrial services portfolio. 

Refex Industries Limited operates across diverse business segments including refrigerant gases, ash and coal handling, green mobility, and logistics solutions. The company has been steadily expanding its infrastructure and material handling operations while strengthening its presence in industrial logistics services. Recently, the company announced a new domestic order win worth Rs. 20.27 crore, which has attracted investor attention amid improving business momentum. 

Refex Industries currently has a market capitalization of Rs. 3,779 crore, with the stock trading at Rs. 278 up by 1.10% compared to previous close of Rs. 274. The stock has touched a 52-week high of Rs. 534 and a low of Rs. 188. The company trades at a P/E ratio of 20.0, while ROCE and ROE stand at 20.9 percent and 18.9 percent respectively. 

Refex Industries announced that it has received an order from a leading Miniratna company for providing logistics and material handling services in the infrastructure and mining sector. As per the disclosure, the order involves supply and service-related logistics operations and will be executed domestically over an estimated period of six months. The total size of the contract is approximately Rs. 20.27 crore, inclusive of GST. 

The company also clarified that neither the promoter nor promoter group companies have any interest in the entity awarding the contract, and the transaction does not fall under related party transactions. 

The latest order win is expected to strengthen Refex Industries’ position in the industrial logistics and infrastructure services segment while improving revenue visibility for the coming quarters. 

Refex Industries is yet to announce its Q4 FY26 financial results. In Q3 FY26 (December 2025 quarter), the company reported revenue of Rs. 576 crore, compared to Rs. 415 crore in Q2 FY26, reflecting a strong sequential growth of 38.8 percent. However, on a year-on-year basis, revenue declined by 16 percent from Rs. 686 crore reported in Q3 FY25. 

Operating profit stood at Rs. 90 crore in Q3 FY26, compared to Rs. 71 crore in Q2 FY26, registering a sequential growth of around 26.8 percent. Compared to Rs. 53 crore reported in Q3 FY25, operating profit surged nearly 70 percent YoY, mainly driven by improved operational efficiency and better cost management. 

Profit before tax came in at Rs. 73 crore during Q3 FY26, compared to Rs. 55 crore in Q2 FY26 and Rs. 62 crore in Q3 FY25.  Net profit stood at Rs. 53 crore in Q3 FY26, compared to Rs. 36 crore in Q2 FY26, reflecting a strong sequential increase of 47 percent. Compared to Rs. 50 crore reported in Q3 FY25, net profit also increased by 6 percent YoY. 

Industry Outlook 

India’s specialty chemicals sector continues to witness strong long-term growth supported by rising domestic consumption, global supply chain diversification, and increasing investments in green chemicals and advanced materials. 

India is currently the sixth-largest producer of chemicals globally and third-largest in Asia, contributing nearly 7 percent to India’s GDP. According to industry estimates, chemicals and petrochemicals demand in India is expected to nearly triple and reach US$1 trillion by 2040. 

The sector is also benefiting from government support. Under Union Budget 2025-26, the government allocated Rs. 1,61,965 crore to the Ministry of Chemicals and Fertilizers, while several PLI schemes and large-scale petrochemical investments continue to create long-term opportunities for specialty chemical and industrial service companies. 

The Rs. 20.27 crore order win marks another positive development for Refex Industries as the company continues expanding its logistics and infrastructure services business. While Q4 FY26 results are still awaited, the company’s recent operational performance and improving margins indicate steady business momentum. Going ahead, execution of fresh contracts and continued growth across industrial segments will remain key monitorables for investors.

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