Refex Industries LimitedREFEXCorporate

Waste Management Latest results: Jun 2026 15 quarters of data

₹256.55

MCap ₹3,521 Cr · P/E 12.8

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AI-assisted data: figures and text on this page are extracted from public quarterly filings with AI assistance, checked automatically and overseen by our editorial team (human in the loop). They may still contain errors or omissions. Verify critical numbers against official company / SEBI / NSE / BSE filings before making any decision. Educational information only, not financial advice.

₹916 Cr

Sales · Jun 2026

+139.1% YoY

₹107 Cr

Operating Profit · Jun 2026

+182.6% YoY

11.7%

OPM % · Jun 2026

+18.2% YoY

₹75 Cr

Net Profit · Jun 2026

+262.8% YoY

₹5.38

EPS · Jun 2026

+238.4% YoY

📝 Refex Industries Limited — results explained

Quarter ended June 2026 (Q1 FY27)

Refex Industries Limited reported revenue of ₹916 crore for the quarter ended June 2026 (Q1 FY27), up 139.1% from ₹383 crore in the same quarter last year, and down 1.9% sequentially over the March 2026 quarter.

Net profit rose 262.8% year-on-year to ₹75 crore, from ₹21 crore. Earnings per share (EPS) came in at ₹5.38.

Operating profit stood at ₹107 crore — an operating margin (OPM) of 11.7%, compared with 9.9% in the year-ago quarter.

Full year and trailing twelve months

For the full year FY26, Refex Industries Limited posted revenue of ₹2,320 crore, a decline of 6.0% over FY25, with a net profit of ₹221 crore (up 39.6% year-on-year).

On a trailing-twelve-month (TTM) basis, revenue stands at ₹2,853 crore with a net profit of ₹275 crore.

Valuation snapshot

At the current price of ₹256.55, REFEX has a market capitalisation of ₹3,521 crore and a trailing P/E of about 12.8.

Within the Waste Management industry, it is the largest of the 8 companies we track by market value.

Shareholding pattern

As of Jun 2026, promoters held 56.57%, foreign institutional investors (FIIs) 0.93%, domestic institutional investors (DIIs) 0.38%, public shareholders 42.13% of Refex Industries Limited.

Promoter holding rose from 55.85% to 56.57% over the latest period.

📈 Share price & events

📊 Quarterly trend

₹ crore · OPM % on right axis

🎯 Key metrics

price-linked ratios use the latest close

Valuation

Market Cap ?

₹3,521 Cr

Current Price ?

₹256.6

P/E ?

12.79above ind

Industry P/E ?

12.50

P/B ?

2.34

P/S ?

1.23

P/FCF ?

74.91

Enterprise Value ?

₹3,746 Cr

EV/EBITDA ?

8.77

PEG ?

0.46

Earnings Yield ?

10.8%

Dividend Yield ?

0.20%

Profitability & Returns

Sales (TTM) ?

₹2,853 Cr

OPM ?

15.0%

Profit after tax (TTM) ?

₹275 Cr

EPS (TTM) ?

₹20.05

ROCE ?

22.0%

ROE ?

18.3%

ROA ?

9.7%

Growth

Sales — latest qtr ?

₹916 Cr

PAT — latest qtr ?

₹75 Cr

YoY qtr sales growth ?

139.1%

YoY qtr profit growth ?

262.8%

Sales growth (3y) ?

12%

Sales growth (5y) ?

29%

Profit growth (3y) ?

28%

Profit growth (5y) ?

43%

Financial Health

Debt ?

₹225 Cr

Debt to Equity ?

0.15

Interest Coverage ?

9.2

Current Ratio ?

N/A

Ownership

Promoter holding ?

56.57%

Change in promoter holding ?

3.24%

Pledged percentage ?

N/A

Market

Return 3 months ?

-16.4%

Return 6 months ?

4.8%

🗓️ Quarterly results (15 quarters · ₹ Cr)

same fiscal quarter as Jun bestweakest per row · for costs (interest, NPAs) low is best Highlight

Metric	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	YoY %	QoQ %
Sales	380	630	382	352	306	342	595	528	717	628	383	427	576	934	916	+139.1%	-1.9%
Operating Profit	40	74	36	34	34	41	48	46	51	60	38	70	90	160	107	+182.6%	-33.2%
Other Income	1	2	2	5	3	8	2	7	25	16	11	5	6	-8	12	+16.0%	+254.4%
Interest	4	6	6	6	8	8	6	5	8	9	10	7	9	10	13	+30.1%	+29.2%
Depreciation	2	2	3	3	4	4	6	6	9	3	14	5	5	5	6	-58.8%	+16.6%
Profit Before Tax	36	68	29	30	25	37	39	42	59	60	24	64	81	136	101	+311.7%	-26.1%
Net Profit	26	51	21	21	17	33	29	31	50	48	21	45	61	94	75	+262.8%	-20.7%
EPS	11.87	22.92	1.92	1.94	7.64	2.96	2.54	2.60	3.99	3.74	1.59	3.50	4.57	6.62	5.38	+238.4%	-18.7%
OPM %	10.4%	11.7%	9.4%	9.7%	11.2%	12.0%	8.1%	8.8%	7.1%	9.6%	9.9%	16.5%	15.6%	17.1%	11.7%	+18.2%	-31.6%

📆 Annual results (₹ Cr, FY = Apr–Mar)

Metric	FY25	FY26	TTM	YoY %
Sales	₹2,468 Cr	₹2,320 Cr	₹2,853 Cr	-6.0%
Operating Profit	₹206 Cr	₹358 Cr	₹427 Cr	+73.8%
OPM %	8.35%	15.43%	14.97%	+84.8%
NPM %	6.42%	9.53%	9.64%	+48.4%
Other Income	₹50 Cr	₹14 Cr	₹15 Cr	-72.8%
Depreciation	₹24 Cr	₹29 Cr	₹21 Cr	+22.5%
Interest	₹28 Cr	₹36 Cr	₹39 Cr	+28.9%
EBIT	₹182 Cr	₹329 Cr	₹406 Cr	+80.6%
PBT	₹200 Cr	₹306 Cr	₹382 Cr	+52.9%
Tax	₹30 Cr	₹43 Cr	₹65 Cr	+42.1%
Net Profit	₹158 Cr	₹221 Cr	₹275 Cr	+39.6%
EPS	₹12.87	₹16.28	₹20.07	+26.5%
Material Cost	₹1,646 Cr	₹1,199 Cr	₹1,688 Cr	-27.2%
Employee Cost	₹27 Cr	₹35 Cr	₹32 Cr	+31.2%
Extraordinary Items	₹0 Cr	—	—	—

🏛️ Balance Sheet (latest 4 periods)

Metric	Mar 2023	Mar 2024	Mar 2025	Mar 2026	% Chg
Equity Capital	22	23	26	27	+3.8%
Reserves	292	442	1,187	1,477	+24.4%
Borrowings	149	215	286	225	-21.3%
Other Liabilities	288	118	300	1,114	+271.3%
Total Liabilities	752	798	1,799	2,843	+58.0%
Fixed Assets	147	204	345	220	-36.2%
CWIP	3	9	17	10	-41.2%
Investments	74	74	31	0	-100.0%
Other Assets	529	512	1,406	2,613	+85.8%
Total Assets	752	798	1,799	2,843	+58.0%

💧 Cash Flow (latest 4 periods)

Metric	Mar 2023	Mar 2024	Mar 2025	Mar 2026	% Chg
Cash from Operating Activity	28	3	-265	107	+140.4%
Cash from Investing Activity	-78	-42	-90	-268	-197.8%
Cash from Financing Activity	60	62	603	65	-89.2%
Net Cash Flow	10	23	249	-95	-138.2%
Free Cash Flow	-44	-43	-430	47	+110.9%
CFO/OP	25%	18%	-96%	35%	+136.5%

➗ Ratios (latest 4 periods)

Metric	Mar 2023	Mar 2024	Mar 2025	Mar 2026	% Chg
Debtor Days	55	81	100	142	+42.0%
Inventory Days	3	3	2	15	+650.0%
Days Payable	49	20	37	92	+148.6%
Cash Conversion Cycle	8	63	65	65	+0.0%
Working Capital Days	41	69	94	144	+53.2%
ROCE %	—	26%	21%	22%	+4.8%

👥 Shareholding (latest 5 periods)

Metric	Sep 2025	Dec 2025	Mar 2026	May 2026	Jun 2026	% Chg
Promoters	53.33%	55.80%	55.85%	55.85%	56.57%	+1.3%
FIIs	1.71%	2.03%	1.37%	1.65%	0.93%	-43.6%
DIIs	0.15%	0.16%	0.13%	0.14%	0.38%	+171.4%
Public	44.81%	42.01%	42.66%	42.37%	42.13%	-0.6%
No. of Shareholders	89,568	97,015	94,159	93,023	91,033	-2.1%

⚖️ Peer comparison

Industry: Waste Management · 8 companies · full page →

#	Company	CMP	MCap (Cr)	P/E	Sales TTM	NP TTM	OPM%	NPM%	Sales YoY%	NP YoY%	Qtr Rev Δ%	Qtr NP Δ%
1	REFEX Refex Industries	₹270.50	3,712	13.5	2,853	275	15.0%	9.6%	-6.0%	39.6%	139.1%	262.8%
2	AWHCL Antony Waste	₹363.50	1,031	14.4	1,067	70	17.5%	6.6%	12.8%	-8.3%	5.5%	-96.7%
3	530643 Eco Recycling	₹709.00	795	58.7	55	24	59.4%	43.5%	9.6%	-1.7%	75.2%	13.3%
4	URBAN Urban Enviro	₹369.25	320	21.5	182	15	26.4%	8.3%	—	—	37.7%	100.0%
5	RACE Race Eco	₹111.31	192	24.0	653	8	2.3%	1.2%	11.5%	-2.9%	21.9%	149.1%
6	543997 Organic Recycling	₹281.00	148	9.7	104	25	28.8%	24.0%	—	—	138.7%	44.4%
7	544199 GEM Enviro	₹252.35	89	121.9	96	5	5.6%	4.9%	—	—	10.1%	-18.0%
8	543595 EP Biocomposites	₹174.20	15	20.0	14	1	16.4%	10.7%	—	—	25.9%	65.1%

❓ Frequently asked questions

What was Refex Industries Limited's revenue in Q1 FY27?

What was Refex Industries Limited's net profit in Q1 FY27?