Refex Industries Stock In Focus After It Wins ₹70.2 Cr Order from Steel PSU

Synopsis:-In a Regulation disclosure filed on April 7, 2026, Refex Industries has secured a Rs.70.2 crore order to supply bulk industrial commodity to a leading Navratna PSU in the steel sector, with execution targeted within approximately two months.

Shares of a diversified industrial company came into focus on Tuesday after it filed a fresh order disclosure with the exchanges. The contract, sourced from a domestic Navratna PSU in the steel sector, covers supply of bulk industrial commodities and is pegged at approximately Rs. 70.2 crore, with a two-month execution window.

With a market capitalisation of Rs. 2922.07 crore, the shares of Refex Industries closed today at Rs. 211.70 per share, down 0.54 percent from its previous closing price of Rs. 212.86 apiece. It is trading at a P/E of 16.68.

Refex Industries has procured a domestic supply contract for bulk industrial commodity from a leading Navratna PSU in the steel sector, valued at approximately Rs. 70.2 crore. The filing does not name the awarding entity, which is standard for undisclosed counterparties; the “Navratna in the steel sector” description points to a narrow field of centrally-owned steel producers. Execution is to be completed within roughly two months, framing this as a short-duration spot-supply arrangement rather than a recurring or framework contract.

At approx Rs. 35 crore of implied monthly throughput, the order adds meaningful near-term revenue momentum. Against a trailing twelve-month consolidated revenue of roughly Rs. 1,983 crore, the contract accounts for around 3.5 percent of annual revenues not a needle-mover in isolation, but a directional indicator that Refex’s commodity handling relationships now extend into the steel sector alongside its established power sector client base. The company confirmed no promoter interest in the awarding entity and no related-party dimension to the transaction.

Business Overview

Incorporated in 2002, Refex Industries began as a refrigerant gas trader before pivoting into ash and coal handling, which now constitutes the dominant share of its revenue. For the quarter ended December 2025, the company reported consolidated revenue of Rs. 576 crore and net profit of Rs. 53 crore; the year-ago quarter had delivered Rs. 686 crore in revenue and Rs. 50 crore in net profit, with the year-on-year topline contraction offset by a marginal improvement in profitability. For the full year FY25, consolidated revenue stood at Rs. 2,468 crore with net profit of Rs. 158 crore.

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