REFEX Refex Industries Q3 FY26 results (Oct–Dec 2025) and concall
Refex Industries reported a strong sequential recovery in Q3 FY26, with revenue growing 38% QoQ to ₹583 Crores and PAT increasing 29% QoQ to ₹67 Crores. This was primarily driven by improved activity in the ash and coal handling business and progress in the wind energy segment, which has secured ₹1860 Crores in orders. The company is strategically exiting low-margin businesses like power trading and refrigerant gas, which impacted year-on-year revenue comparisons but is expected to improve profitability. The demerger of the mobility business is progressing, with NCLT approval expected by April
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What they filed
Q3 FY26: revenue down 16.0%, net profit up 6.0% against the same quarter last year.
| Line item | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 |
|---|---|---|---|---|---|---|
| Revenue | 428 | 686 | 594 | 352 | 415 −3% | 576 −16% |
| EBITDA | 43 | 53 | 60 | 37 | 71 +65% | 90 +70% |
| Net profit | 31 | 50 | 48 | 20 | 36 +16% | 53 +6% |
How to read this
₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.
Inve summary of a publicly available earnings call transcript; see how call summaries are prepared. Not investment advice.
