Refex Industries has secured a significant domestic work order worth ₹40.42 crore from an entity based in Maharashtra. According to reports from Business Standard, the order involves a slab-wise rate contract for transportation of ash and is scheduled for execution over a 12-month period. The company has confirmed that the promoter/promoter group/group companies have no interest in the entity awarding the order, ensuring the contract remains independent of related party transactions.
The contract award comes amid strong financial performance for Refex Industries. As reported by Business Standard, the company's consolidated net profit surged 201.22% to ₹63.80 crore in Q1 FY27, compared with ₹21.17 crore in Q1 FY26. This represents a substantial improvement in profitability on a year-on-year basis, demonstrating the company's operational efficiency and market positioning.
Despite the positive contract announcement, shares of Refex Industries declined 1.08% during afternoon trading, according to latest market data. The stock movement reflects broader market weakness, with the S&P BSE Sensex declining 373.30 points or 0.48% to 76,862.16 and the Nifty 50 losing 113.35 points or 0.47% to 24,041.55. The market decline was attributed to weak global cues, renewed strength in crude oil prices, and a sharp rise in global bond yields that dampened investor sentiment. Healthcare, chemicals and cement stocks declined while only IT shares managed to trade in the green.
According to Business Standard, Chennai-based Refex Industries has established a diversified portfolio spanning ash and coal handling, wind energy, and green mobility solutions. The company's ability to secure this substantial transportation contract reinforces its position in the ash handling segment and demonstrates its operational capabilities across multiple industrial sectors.
