Refex Industries Limited (“RIL”) has announced the acquisition of a significant domestic order for material handling and transit operations involving bulk commodity materials. This contract, awarded by a “Mini Ratna” company, spans a period of 3 years and is valued at INR 49.22 Crore. The disclosure was made under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, following the company’s continuous efforts to expand its industrial services footprint.

The awarded contract specifically involves comprehensive material handling services and transit operations for bulk commodities within the domestic market. Executed over a 36-month timeline, the order is categorized as a standard business agreement with no interest from the promoter group or related parties in the awarding entity. This development follows a series of recent infrastructure-related wins for the company, including pond ash management contracts for NHAI road projects totaling over INR 100 Crore in early 2026.

Refex Industries Limited is a diversified player with core operations in the industrial gases sector, specialized in the production and distribution of eco-friendly refrigerant gases. Over the years, the company has strategically shifted its focus toward the Ash and Coal Handling segment, which now serves as its primary revenue driver, accounting for over 90% of its business as of 2025. Beyond these core segments, Refex is actively expanding into green mobility through its 100% electric vehicle fleet, solar power generation, and power trading. Recent strategic updates in 2025 include the rebranding of its green mobility vertical to ‘Refex Mobility’ and the appointment of new leadership to spearhead sustainable transportation solutions.

For the third quarter of FY 2025-26 (Q3 FY26), Refex Industries reported a robust financial performance characterized by a sequential recovery in its top-line and sustained growth in profitability. The company achieved a consolidated net profit of INR 68.00 Crore, marking a 15.3% year-on-year increase from INR 59.00 Crore in the corresponding quarter of the previous year. Revenue for the quarter showed a strong sequential jump of approximately 38%, driven by increased operational efficiency and new project execution. The company’s shareholding pattern as of late 2025 indicates a promoter holding of 55.8%, with institutional presence including Foreign Institutional Investors (FIIs) at 2.03%. While the company has seen participation from various brokerage entities and individual investors, its primary backing remains with the Refex Family Trust, which underwent a structured indirect acquisition process approved by SEBI in early 2026 to consolidate promoter interests.