Refex Industries Limited has officially announced the procurement of a new domestic contract valued at approximately ₹36.91 Crore. This order, awarded by a major power producer company, entails the specialized industrial services of excavation, loading, and transportation of pond ash to designated open cast mines, stone quarries, and various NHAI project sites, with an execution timeline spanning two years.

The acquisition of this contract is a significant development for Refex Industries, aligning with its strategic pivot toward becoming a specialized logistics and environmental services powerhouse. By focusing on high-stickiness domestic orders, the company aims to enhance its margins and strengthen its position within the industrial waste management and circular economy sectors. This move is part of a broader shift away from legacy businesses, as the company increasingly prioritizes its core operations in ash and coal handling.

Refex Industries Limited, established in 2002, has successfully transitioned from a refrigerant gas trader to a diversified entity with a strong foothold in environmental and industrial logistics. The company is actively expanding its presence in renewable energy, specifically wind power, and is currently progressing with the demerger of its green mobility business. The firm maintains a robust order book for its ash and coal handling vertical, which remains its primary revenue driver. Furthermore, the company has recently seen institutional interest and continues to execute its strategy of capturing critical environmental compliance requirements for thermal power plants. Reliance Industries Limited is among the institutional investors holding a stake in the company.

For the financial year ended March 31, 2026, Refex Industries reported a standalone net profit of ₹247.2 Crore, reflecting a 34.7% increase year-on-year. Standalone revenue from operations for the full year stood at ₹2,039.2 Crore. In its most recent quarterly results for the period ended March 31, 2026, the company demonstrated strong performance, with revenue from operations reaching ₹701.0 Crore, representing an increase compared to the ₹594.5 Crore reported in the corresponding period of the previous year. Net profit for the same quarter was ₹93.7 Crore, up from ₹56.2 Crore in the previous year’s corresponding quarter.