Refex Industries Ltd (NSE:REFEX)

Q2 2026 Refex Industries Ltd Earnings Call Transcript

Nov 5, 2025 / 05:30 AM GMT

Release Date Price: ₹368.85 (-1.42%)

Transcript

Key Points

Positve

Refex Industries Ltd (BOM:532884) reported a 15% increase in total income from continuing operations, driven by improvements in the coal and ash handling business.
EBITDA nearly doubled to INR 74 crores, showcasing the resilience of the company's business model.
The company is seeing a steady pickup in site activity and volumes across coal and ash handling operations post-monsoon.
Refex Industries Ltd (BOM:532884) has a strong order book of approximately INR 1,200 crores in the coal and ash handling services business.
The wind turbine manufacturing business is competitive, with orders already secured, indicating a strong market position.

Negative

The company is in the process of winding down its bar trading operations, indicating a strategic shift away from this segment.
Margins in the ash handling business are expected to remain between 8% to 11%, with no significant increase anticipated.
The demerger process of Refire Mobility Limited is ongoing and may take 6 to 7 months to complete, potentially causing temporary operational disruptions.
The refrigeration business is in the process of liquidation, indicating a reduction in business segments.
There are concerns about potential overcapacity in the wind turbine segment, although the company remains optimistic about demand.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

REFE.NS - Refex Industries Ltd
Q2 2026 Refex Industries Ltd Earnings Call
Nov 06, 2025 / 05:30AM GMT

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Presentation
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Unidentified_1 [1]
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Ladies and gentlemen, good day and welcome to Reflex Industries Limited Q2 Ffi 26 earnings conference call.

Please note all participant lines will be in the listen-only mode, and this conference is being recorded.

We have with us today from the management team Mr. Anil Jain, Chairman and managing director.

Mr. Dinesh Kumar Agarwal, whole-time director and CFO.

We will begin the call with opening remarks from the management team and post that we will open the floor for questions. With that, I hand over the call to Mr. Aniljane.

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Unidentified_2 [2]
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