Refex Industries Limited

Web: refex.co.in NSE: REFEX BSE: 532884 SECTOR: Chemicals - Chemicals & Petrochemicals

312 1(0%)

Volume

15L as on 22, Jun

Open

High

Low

311

VWAP

345

52 Week High

464

52 Week Low

188

Viand Research Rating

Quality Score

76/100

Growth Score

94/100

Valuation Score

50/100

Momentum Score

45/100

Analyst Recommendations

BUY/SELL

Hold | Buy | Strong Buy

Analyst Price Target

Market Cap (cr)

4,281

No. of Shares

13.7

P/E

47.39

P/B

12.92

Face Value

Div. Yield

Book Value (TTM)

CASH

DEBT

EPS (TTM)

ROE

27.25

ROCE

Profit Growth

Listing Date

03-Dec-09

Promoter Holding

55.85%

FII Holding

1.65%

DII Holding

0.14%

Price Chart

Price Performance

1 Week9%

1 Month23%

3 Months71%

6 Months64%

1 Year64%

YTD64%

Moving Average

5 Day SMA328

10 Day SMA318

20 Day SMA314

30 Day SMA299

50 Day SMA280

61 Day SMA266

80 Day SMA0

200 Day SMA0

PIVOT LEVEL

	Standard	Camarilla	Fibonacci	Woodie's
Resistance 3	375	344	358	384
Resistance 2	358	342	348	363
Resistance 1	348	339	342	356
Pivot Point	331	337	331	336
Support 1	321	334	321	330
Support 2	304	332	315	309
Support 3	294	329	304	302

Competitors/Peers

#	Symbol	MCAP	LTP	1W	1M	6M	1Y	P/E	Ind PE	Debt/Eq	NP Qtr Rs.Cr.
1	SOLARINDS	1,68,592	18631	3%	2%	46%	27%	89	57.9	0.24	1737
2	PIDILITIND	1,60,302	1575	3%	2%	11%	10%	62	57.9	0.04	2471
3	SRF	77,737	2622	3%	5%	5%	10%	0	57.9	0.36	1835
4	COROMANDEL	59,564	2019	1%	2%	11%	13%	0	57.9	0.12	1898
5	LINDEINDIA	57,311	6720	3%	8%	14%	4%	0	57.9	0.02	549
6	FACT	52,151	806	4%	10%	1%	14%	0	57.9	2.79	41
7	UPL	51,072	605	2%	1%	13%	16%	0	57.9	0.68	2220
8	FLUOROCHEM	50,401	4588	11%	19%	41%	28%	0	57.9	0.29	574
9	PIIND	41,502	2736	3%	4%	15%	34%	0	57.9	0.03	1321
10	NAVINFLUOR	39,421	7688	2%	3%	32%	54%	0	57.9	0.32	664
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Shareholding Pattern (%)

	May 2026	Mar 2026	Dec 2025	Oct 2025	Sep 2025	Jun 2025	Mar 2025	Dec 2024	Nov 2024	Sep 2024	Jul 2024	Jun 2024	Mar 2024	Dec 2023	Sep 2023	Jun 2023	Mar 2023	Dec 2022	Sep 2022	Jun 2022	Mar 2022	Dec 2021
Promoters	(0.01) 55.85%	(0.11) 55.85%	(-0.11) 55.80%	(2.61) 55.92%	(0.01) 53.33%	(0.01) 53.33%	(-0.11) 53.37%	(0.01) 53.49%	(-3.61) 53.49%	(0.01) 57.12%	(1.91) 57.13%	(0.01) 55.28%	(2.01) 55.28%	(-0.11) 53.27%	(0.61) 53.33%	(0.01) 52.70%	(0.01) 52.70%	(2.51) 52.70%	(0.01) 50.21%	(0.01) 50.21%	(0.51) 50.21%	(0.01) 49.72%
FIIs	(0.31) 1.65%	(-0.71) 1.37%	(0.41) 2.03%	(-0.11) 1.60%	(-0.21) 1.71%	(-0.11) 1.86%	(0.21) 2.00%	(0.31) 1.76%	(-0.11) 1.48%	(1.21) 1.53%	(0.11) 0.29%	(0.01) 0.20%	(0.01) 0.22%	(-0.21) 0.20%	(-0.31) 0.41%	(0.61) 0.68%	(0.11) 0.07%	(-0.31) 0.00%	(0.31) 0.29%	(-0.31) 0.00%	(0.01) 0.26%	(0.01) 0.29%
DIIs	(0.01) 0.14%	(0.01) 0.13%	(0.01) 0.16%	(0.01) 0.14%	(0.01) 0.15%	(0.11) 0.16%	(0.11) 0.11%	(0.01) 0.00%	(0.01) 0.00%	(0.01) 0.00%	(0.01) 0.00%	(0.01) 0.00%	(0.01) 0.00%	(-0.11) 0.00%	(-0.11) 0.10%	(0.21) 0.15%	(0.01) 0.00%	(0.01) 0.00%	(0.01) 0.00%	(0.01) 0.00%	(0.01) 0.00%	(0.01) 0.00%
Public	42.37%	42.66%	42.01%	42.34%	44.81%	44.65%	44.51%	44.75%	45.02%	41.35%	42.57%	44.51%	44.50%	46.53%	46.17%	46.47%	47.23%	47.30%	49.50%	49.78%	49.53%	49.99%
No. of Shareholders	93,023	94,159	97,015	89,600	89,568	85,429	81,739	81,857	85,136	81,302	69,650	57,639	48,729	42,589	39,568	33,612	28,340	28,287	25,865	27,242	27,135	27,298

Quarterly Results

	Mar 2026	Dec 2025	Sep 2025	Jun 2025	Mar 2025	Dec 2024	Sep 2024	Jun 2024	Mar 2024	Dec 2023	Sep 2023	Jun 2023	Mar 2023	Dec 2021	Sep 2021	Jun 2021	Mar 2021	Dec 2020	Sep 2020	Jun 2020
Sales	934	576	415	366	594	686	428	591	342	306	352	382	630	90	94	83	152	144	258	78
Sales Growth % (YoY)	57%	-16%	-3%	-38%	74%	124%	22%	55%	-46%	-	-	-	-	-37.9%	-63.6%	6.8%	23%	-39%	60.4%	-44%
Sales Growth % (QoQ)	62.2%	38.8%	13.4%	-38.4%	-13.4%	60.3%	-27.6%	72.8%	11.8%	-13.1%	-7.9%	-39.4%	600%	-4.3%	13.3%	-45.4%	5.6%	-44.2%	230.8%	-
Expenses	775	486	344	329	534	633	385	543	301	272	318	346	557	77	82	72	131	128	236	70
Operating Profit	160	90	71	37	60	53	43	48	41	34	34	36	74	12	12	12	22	16	22	8
OPM %	17	16	17	10	10	8	10	8	12	11	10	10	12	14	13	14	14	11	9	10
Other Income	-8	-3	-4	1	3	16	5	2	8	3	5	2	2	1	2	1	4	0	0	0
Interest	10	9	7	6	5	5	4	6	8	8	6	6	6	2	2	2	8	0	0	0
Depreciation	5	5	5	5	3	3	2	6	4	4	3	3	2	1	1	1	4	0	0	0
Profit before tax	136	73	55	28	55	62	42	39	37	25	30	29	68	9	10	9	13	16	22	7
Tax %	31	28	34	26	13	19	27	25	9	33	29	27	25	28	26	25	41	22	28	26
Net Profit	94	53	36	20	48	50	31	29	33	17	21	21	51	7	7	7	8	12	16	5
Net Profit Growth % (QoQ)	77.4%	47.2%	80%	-58.3%	-4%	61.3%	6.9%	-12.1%	94.1%	-19%	-	-58.8%	628.6%	-	-	-12.5%	-33.3%	-25%	220%	-
Net Profit Growth % (YoY)	95.8%	6%	16.1%	-31%	45.5%	194.1%	47.6%	38.1%	-35.3%	-	-	-	-	-41.7%	-56.2%	40%	-	-	-	-
TTM Net Profit	203	157	154	149	158	143	110	100	92	110	93	72	51	29	34	43	41	33	21	0
EPS in Rs	6.62	3.93	2.9	1.64	3.74	3.88	2.57	2.6	2.96	1.53	1.94	1.92	4.59	0.65	0.71	0.67	0.72	1.15	1.52	0.5

Profit and Loss

	Mar 2026	Mar 2025	Mar 2024	Mar 2023	Mar 2021	Mar 2020	Mar 2019	Mar 2018	Mar 2017	Mar 2016	Mar 2015
Sales	2277	2468	1383	1629	633	661	461	77	38	78	85
Sales Growth %	-	78%	-15%	-	-4%	43%	500%	104%	-52%	-8%	-
Expenses	1920	2258	1237	1454	565	609	433	75	36	75	79
Operating Profit	357	210	146	175	68	51	28	2	2	3	6
OPM %	16	8	11	11	11	8	6	2	6	3	7
Other Income	-13	50	18	8	4	-1	2	2	2	0	0
Interest	32	28	29	19	9	1	0	1	3	1	0
Depreciation	20	33	14	7	5	1	1	1	1	1	2
Profit before tax	292	200	121	156	58	48	29	2	1	0	3
Tax %	30	21	23	26	29	31	-10	46	13	-1613	0
Net Profit	204	158	93	116	41	33	32	1	0	5	3
Net Profit Growth %	29.1%	69.9%	-19.8%	182.9%	24.2%	3.1%	3100%	-	-100%	66.7%	-
EPS in Rs	14.82	12.29	8.11	10.5	3.9	3.16	3.01	0.09	0.04	0.51	0.29
Dividend Payout %	0	0	6	4	8	0	0	0	0	0	0

Cash Flows

	Mar 2025	Mar 2024	Mar 2023	Mar 2021	Mar 2020	Mar 2019	Mar 2018	Mar 2017	Mar 2016	Mar 2015
Cash from Operating Activity	-265	3	28	123	12	44	-4	4	-25	-3
Cash from Investing Activity	-90	-42	-78	-122	5	0	-1	0	-2	4
Cash from Financing Activity	603	62	60	-5	1	-41	4	-3	26	-2
Net Cash Flow	249	23	10	-4	17	3	-1	1	0	-1

Balance Sheet

	Mar 2026	Sep 2025	Mar 2025	Sep 2024	Mar 2024	Mar 2023	Mar 2021	Mar 2020	Mar 2019	Mar 2018	Mar 2017	Mar 2016	Mar 2015
Equity Capital	27	26	26	24	23	22	21	15	15	15	15	15	15
Reserves	1477	1235	1187	587	442	292	119	60	27	-4	-5	-6	-11
Borrowings	225	174	286	236	215	149	74	9	0	41	35	37	9
Other Liabilities	1114	612	300	208	118	288	128	53	115	45	15	71	56
Total Liabilities	2843	2047	1799	1055	798	752	341	138	159	97	60	118	70
Fixed Assets	220	213	345	271	204	147	87	22	15	14	15	15	16
CWIP	10	13	17	37	9	3	0	0	0	0	0	0	0
Investments	0	39	31	0	74	74	74	0	0	0	0	0	0
Other Assets	2613	1781	1406	747	512	529	181	116	143	83	45	103	54
Total Assets	2843	2047	1799	1055	798	752	341	138	159	97	60	118	70

Delivery

#	Date	258 44% 371	Value (Cr)	Q/T 78	Del 38	Del 49
1	22-Jul	311	16	68	44	7
2	21-Jul	306	11	60	54	6
3	20-Jul	312	15	53	36	5
4	17-Jul	307	18	49	48	9
5	16-Jul	317	20	49	49	10
6	15-Jul	322	35	77	53	18
7	14-Jul	336	14	64	40	6
8	13-Jul	338	13	58	48	6
9	10-Jul	345	16	54	53	9
10	9-Jul	350	25	50	44	11
11	8-Jul	335	23	66	44	10
12	7-Jul	347	28	66	50	14
13	6-Jul	352	11	55	61	7
14	3-Jul	358	21	50	49	10
15	2-Jul	364	47	71	44	21
16	1-Jul	357	36	62	28	10
17	30-Jun	356	30	58	45	14
18	29-Jun	356	83	77	38	31
19	25-Jun	349	57	79	52	30
20	24-Jun	338	21	64	42	9
21	23-Jun	339	28	70	36	10
22	22-Jun	343	53	81	38	20
23	19-Jun	337	126	76	26	33
24	18-Jun	319	14	60	43	6
25	17-Jun	323	17	53	48	8
26	16-Jun	320	26	60	41	11
27	15-Jun	314	25	63	42	10
28	12-Jun	311	19	63	40	7
29	11-Jun	296	13	53	41	5
30	10-Jun	303	20	57	38	8
31	9-Jun	309	16	56	42	7
32	8-Jun	298	22	62	48	10
33	5-Jun	312	20	64	40	8
34	4-Jun	316	30	69	37	11
35	3-Jun	315	23	62	35	8
36	2-Jun	317	50	88	28	14
37	1-Jun	308	68	75	37	25
38	29-May	328	139	94	26	36
39	27-May	329	628	108	15	92
40	26-May	295	360	95	15	55
41	25-May	284	29	89	44	13
42	22-May	279	17	65	32	6
43	21-May	279	29	69	37	11
44	20-May	277	24	60	32	8
45	19-May	274	33	62	37	12
46	18-May	268	29	58	33	10
47	15-May	278	219	86	17	37
48	14-May	266	34	66	31	11

Daily Market Cap

Date	Total Market Cap	Change	Chg %
23-Jul	4,281c	7c	0.16
22-Jul	4,274c	67c	1.60
21-Jul	4,207c	12c	0.29
17-Jul	4,220c	130c	3.00
16-Jul	4,350c	80c	1.80
15-Jul	4,429c	146c	3.19
14-Jul	4,576c	80c	1.71
13-Jul	4,655c	108c	2.28
10-Jul	4,764c	25c	0.53
09-Jul	4,789c	151c	3.25
08-Jul	4,638c	125c	2.62
07-Jul	4,763c	81c	1.67
06-Jul	4,844c	225c	4.44
02-Jul	5,069c	191c	3.91
30-Jun	4,878c	65c	1.34
29-Jun	4,814c	34c	0.70
26-Jun	4,780c	35c	0.74
25-Jun	4,745c	112c	2.41
24-Jun	4,633c	2c	0.04
23-Jun	4,631c	68c	1.45
22-Jun	4,699c	34c	0.72
19-Jun	4,666c	300c	6.87
18-Jun	4,366c	56c	1.26
17-Jun	4,421c	30c	0.69
16-Jun	4,391c	82c	1.91
15-Jun	4,309c	36c	0.83
12-Jun	4,273c	114c	2.74
11-Jun	4,159c	53c	1.25
10-Jun	4,212c	0	0

Stock Checklist

Price is below from 52 week high low average: 10%

Stock is trading above all short term SMAs: YES

Stock is trading above all long term SMAs: YES

Stock is Consistently Improving Long Term: NO

FII purchased in last quarter: YES

Promoters are buying the stock: NO

Mutual Fund Holdings

Held by 12 fund scheme(s) across 5 fund house(s) as of Jul26 · Total value ₹9 Cr · 0 increasing / 0 decreasing · View in MF Pro →

Fund House	Schemes	Weight %	Change	Value (Cr)
Motilal Oswal Mutual Fund	4	0.11%	-	9.3
Groww Mutual Fund	2	0.01%	-	0.1
Angel One Mutual Fund	2	0.01%	-	0
Mirae Asset Mutual Fund	2	0.01%	-	0
Bandhan Mutual Fund	2	0.01%	-	0

Refex Industries Limited

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Shareholding Pattern (%)

Quarterly Results

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Cash Flows

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