Small cap stock jumps 13% after bagging ₹100 Cr order from large business conglomerate

Synopsis: This company’s share recovered its two week fall on Friday’s morning session, as it reported Rs. 100 crore order receipt.

The share of the company engaged in trading eco-friendly refrigerant gases and providing comprehensive solutions for responsible coal procurement and ash disposal is in focus after receiving work order from a Large Business Conglomerate.

With a market capitalization of Rs. 4,881.64 Crore, Refex Industries Ltd’s share today made a day high of Rs. 362 per share, up by 13 percent from its previous close price of Rs 320.35 per share. The share has given a return 1,923.74 percent over a period of five years.

Significant Order:

Refex Industries Ltd has announced receiving a domestic order worth Rs.~100 crore approx., from a Large Business Conglomerate for the supply and services of excavating, loading and transportation of pond ash/bottom ash, and the work is to be completed within 4 months.

This order will boost its revenue of Rs 789.25 crore as of H1 FY26, with Ash & Coal handling segment contributing 95.79 percent and the rest contributed by other segments, i.e power & trading, refrigerant gas, solar power generation & related activities and other operating revenues.

About the company

Established in 2002 and headquartered in Chennai, Refex Industries Limited is a pioneer in sustainability-driven solutions in India. With over 23 years of expertise, Refex has built a diverse portfolio encompassing Ash & Coal Handling, Clean Mobility Solution and Wind Turbine Manufacturing.The company’s clientele includes famous players like NTPC, Adani Power, Hindalco, Ultratech, Ambuja & ACC and L&T, etc. 

Refex has ventured into electric mobility through its subsidiary, Refex Green Mobility Limited, offering electric vehicle (EV) services for passenger mobility, corporate transportation, and B2B2C use cases. Adding further depth to its green portfolio, Venwind Refex Power LimitedVRPL), a strategic subsidiary, has been established to drive a new era in wind turbine manufacturing in India.

Financial highlights, revenues saw no growth YoY to Rs. 427 crore in Q2 FY26. EBIDT grew by 64 percent to Rs.70.5 crore in Q2 FY26 from 42.9 crore in Q2 FY25. Accompanied by Net profit growth of 41 percent YoY to Rs. 36 crore in Q2 FY26 and EPS growth of 13 percent YoY to Rs. 2.90 per share.

The company’s recent wins include VRPL, a subsidiary of the Company achieved two significant milestones, first- term sheet signed with a leading Independent Power Producer(IIP) for WTGs and associated O&M service of wind power. Second milestone,  major contract worth Rs.474.45 crore with another IPP for supply of WTGs in Gujarat.

Written by Gourav Pratap Singh

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