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Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
Refex IndustriesNSE:REFEX +1.31%93 Gross Margin % is 14.71% as of Jun. 2026, which is 9% below its 10-year median of 16.17. GuruFocus rates NSE:REFEX with a GF Score™ of 93/100 and a GF Value™ of ₹388.27 (Modestly Undervalued). The stock has 3 warning signs investors should review. Among 124 Other Energy Sources companies, Refex Industries ranks worse than 51.61% on this metric.
Refex Industries Ltd gross margin has been in long-term decline. The average rate of decline per year is -2.8%.
The historical rank and industry rank for Refex Industries's Gross Margin % or its related term are showing as below:
NSE:REFEX'
s Gross Margin % Range Over the Past 10 Years
Min: 11.33 Med: 16.17 Max: 47.47
Current: 17.84
During the past 13 years, the highestGross Margin % of Refex Industries was 47.47%. The lowest was 11.33%. And the median was 16.17%.
NSE:REFEX's Gross Margin % is ranked worse than 51.61% of 124
companies
in the Other Energy Sources industry
Industry Median: 18.18
vs NSE:REFEX: 17.84
Refex Industries had a gross margin of 14.71% for the quarter that ended in Jun. 2026 => No sustainable competitive advantage
The 5-Year average Growth Rate of Gross Margin for Refex Industries was -2.80% per year.
Warren Buffett believes that firms with excellent long term economics tend to have consistently higher margins.
Durable competitive advantage creates a high Gross Margin % because of the freedom to price in excess of cost. Companies can be categorized by their Gross Margin %
1. Greater than 40% = Durable competitive advantage
2. Less than 40% = Competition eroding margins
3. Less than 20% = no sustainable competitive advantage
Consistency of Gross Margin is key
Refex Industries had a gross margin of 14.71% for the quarter that ended in Jun. 2026 => No sustainable competitive advantage
Be Aware
If a company loses its competitive advantages, usually its gross margin declines well before its sales declines. Watching Gross Margin % and Operating Margin % closely helps avoid value trap situations.
Refex Industries Gross Margin % Related Terms
Refex Industries Gross Margin % Historical Data
* Premium members only.
The historical data trend for Refex Industries's Gross Margin % can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
For the Thermal Coal subindustry, Refex Industries's Gross Margin %, along with its competitors' market caps and Gross Margin % data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Refex Industries Gross Margin % vs Other Energy Sources Industry
For the Other Energy Sources industry and Energy sector, Refex Industries's Gross Margin % distribution charts can be found below:
* The bar in red indicates where Refex Industries's Gross Margin % falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
A positive Gross Profit is only the first step for a company to make a net profit. The gross profit needs to be big enough to also cover related labor, equipment, rental, marketing/advertising, research and development and a lot of other costs in selling the products.
Refex Industries (NSE:REFEX) has a Gross Margin % of 14.71% as of Jun. 2026. Gross margin is the ratio of total gross profit to net sales. View historical data on Refex Industries and its competitors. This is near median its historical median of 16.17. Over the past decade, Refex Industries' Gross Margin % has ranged from 11.33 to 47.47. According to the industry distribution chart, Refex Industries ranks #64 out of 124 companies in the Other Energy Sources industry, placing it in the top 51.6%.
Is Refex Industries' Gross Margin % too high?
Refex Industries' current Gross Margin % of 14.71% is near median its 10-year median of 16.17. Over the past 10 years, this metric has ranged from a low of 11.33 to a high of 47.47. The Other Energy Sources industry median Gross Margin % is 18.18. Refex Industries' value of 14.71% is 19.1% below this industry median. Based on the distribution chart, Refex Industries ranks #64 out of 124 companies in the Other Energy Sources industry, which is below the industry midpoint. Overall, Refex Industries has a GF Score™ of 93/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Refex Industries' Gross Margin % compare to competitors?
According to the Other Energy Sources industry distribution chart, Refex Industries ranks #64 out of 124 companies for Gross Margin %. This places Refex Industries in the lower half of its industry. The industry median Gross Margin % is 18.18. Refex Industries' value of 14.71% is 19.1% below this benchmark. Historically, Refex Industries' own Gross Margin % has ranged from 11.33 to 47.47 over the past decade. While the company's 10-year median is 16.17 vs. the industry median of 18.18, Refex Industries has consistently been below the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Gross Margin % for an Other Energy Sources company?
The median Gross Margin % among Other Energy Sources companies is 18.18, based on 124 companies in the industry. Companies in the top quartile (top 25%) have a Gross Margin % significantly above this median, while those in the bottom quartile fall well below. However, Gross Margin % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Refex Industries's current Gross Margin % of 14.71% is 19.1% below the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Gross Margin % mean?
A high Gross Margin % can signal that a stock is expensive relative to its fundamentals. Gross margin is the ratio of total gross profit to net sales. View historical data on Refex Industries and its competitors. For the Other Energy Sources industry, the median Gross Margin % is 18.18 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Refex Industries's current Gross Margin % is 14.71%, which is near median its own 10-year median of 16.17. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Refex Industries stock overvalued right now?
Based on GuruFocus' analysis, Refex Industries (NSE:REFEX) is currently considered Modestly Undervalued. The stock's GF Value™ is ₹388.27, compared to a current price of ₹297.25 — trading 23.4% below its estimated fair value. The current Gross Margin % is 14.71%, which is near median its 10-year median of 16.17 and 19.1% below the Other Energy Sources industry median of 18.18. Refex Industries' overall GF Score™ is 93/100 with 3 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Gross Margin % calculated?
Gross Margin % is calculated from a company's financial statements. For Refex Industries (NSE:REFEX), the current Gross Margin % is 14.71% as of Jun. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Refex Industries (NSE:REFEX) Overvalued in 2026?
Based on GuruFocus' analysis, Refex Industries stock appears to be undervalued.
The current stock price of ₹297.25 is trading 23.4% below its estimated GF Value™ of ₹388.27.
GuruFocus considers Refex Industries to be Modestly Undervalued.
Key valuation signals for NSE:REFEX:
Gross Margin %: 14.71% (near median its 10-year median of 16.17)
GF Value™: ₹388.27 vs. price of ₹297.25 (23.4% below fair value)
Industry Position: 19.1% below the Other Energy Sources median (#64 of 124)
No single metric tells the full story. See the NSE:REFEX stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Refex Industries Ltd is a manufacturer and refiller of refrigerant gases. The company's operating segment includes Coal & Ash Handling Business, Solar Power - Generation and Related Activities, Refrigerant Gas- (Refilling) and Sales, Sale Of Services, Power Trading, and Others. Geographically, the business activities are operated throughout the region of India.
93GF Score
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