Share Price and Basic Stock Data
Last Updated: November 7, 2025, 9:58 pm
| PEG Ratio | 0.88 |
|---|
Analyst Insight & Comprehensive Analysis
Business Overview and Revenue Trends
Refex Industries Ltd, operating in the Industrial Gases sector, reported a price of ₹356 and a market capitalization of ₹4,873 Cr. The company has demonstrated significant revenue growth, with sales increasing from ₹444 Cr in FY 2022 to ₹1,629 Cr in FY 2023. This upward trajectory continued with a trailing twelve months (TTM) revenue of ₹2,204 Cr. The quarterly sales figures reflect some volatility, with the highest recorded sales of ₹708 Cr in December 2024, but a noticeable decline to ₹302 Cr in December 2023. Despite these fluctuations, the overall trend showcases a robust expansion, underscoring the company’s ability to capitalize on market opportunities. The operating profit margin (OPM) stood at 11% as of the latest reporting, indicating a competitive position within the industry, though it lags behind the typical sector range of 15-20%. Such growth metrics position Refex Industries favorably against its peers, highlighting its operational resilience.
Profitability and Efficiency Metrics
The profitability metrics of Refex Industries reflect a strong operational performance. The company reported a net profit of ₹186 Cr, translating to a return on equity (ROE) of 22.0% and a return on capital employed (ROCE) of 25.3%. The interest coverage ratio (ICR) stood at 9.39x, indicating a solid ability to cover interest expenses, which is significantly higher than the industry average of around 2-3x. Furthermore, the net profit margin was recorded at 6.41% in FY 2025, slightly below the sector average, suggesting room for improvement in converting revenue into profit. The cash conversion cycle (CCC) was reported at 66 days, indicating efficient management of working capital relative to peers. However, fluctuations in quarterly operating profit margins and net profit figures suggest that while the company is performing well overall, there are areas requiring closer scrutiny to maintain profitability in a competitive landscape.
Balance Sheet Strength and Financial Ratios
Refex Industries exhibits a robust balance sheet, with total assets of ₹1,681 Cr and reserves amounting to ₹1,224 Cr. The company recorded borrowings of ₹158 Cr, resulting in a total debt-to-equity ratio of 0.16, which indicates a conservative leverage position compared to the industry benchmark. The current ratio stood at 3.49x, well above the typical range of 1.5-2.0x, reflecting strong short-term liquidity. Additionally, the book value per share rose to ₹81.93, enhancing shareholder value. The price-to-book value (P/BV) ratio is at 4.61x, suggesting that the market values the company at a premium relative to its net assets. However, the operating profit margin (OPM) of 9% in FY 2025 indicates potential inefficiencies in cost management that the company may need to address to strengthen its financial position further. Overall, these financial ratios point to a stable company, but with a need for improved operational efficiency to maximize shareholder returns.
Shareholding Pattern and Investor Confidence
The shareholding pattern of Refex Industries reveals a significant degree of promoter confidence, with promoters holding 55.92% of the shares as of October 2025. This stable ownership structure is a positive signal for investors, indicating alignment between management and shareholder interests. Foreign institutional investors (FIIs) accounted for 1.60% of shareholding, while domestic institutional investors (DIIs) represented a mere 0.14%, reflecting limited institutional interest compared to typical industry norms. The public shareholding stood at 42.34%, with the number of shareholders increasing to 89,600, indicating growing retail interest in the stock. However, the low institutional ownership may raise concerns regarding the robustness of investor sentiment and confidence in the company’s future prospects. The gradual increase in promoter stake over time may enhance stability, but attracting more institutional investors could bolster the stock’s credibility in the market.
Outlook, Risks, and Final Insight
Refex Industries stands at a crossroads, with a promising outlook predicated on its strong revenue growth and solid balance sheet position. However, the company faces several risks, including volatility in quarterly earnings, a relatively low net profit margin compared to industry peers, and limited institutional investor participation. These factors may impact the stock’s performance and investor confidence. To capitalize on its strengths, Refex could focus on enhancing operational efficiencies to improve profit margins and attract institutional investors, thereby solidifying its market position. On the other hand, if the company fails to address these operational challenges, it risks losing competitiveness in a dynamic market environment. Overall, while the current financial health appears stable, strategic initiatives will be crucial for sustainable growth and enhanced shareholder value in the coming years.
Source: Getaka Fundamental Analysis | Generated using proprietary financial data.
Competitors of Refex Industries Ltd
| Stock Name ⇩ | Market Cap ⇩ | Current Price ⇩ | High / Low ⇩ | Stock P/E ⇩ | Book Value ⇩ | Dividend Yield ⇩ | ROCE ⇩ | ROE ⇩ | Face Value ⇩ |
|---|---|---|---|---|---|---|---|---|---|
| Gagan Gases Ltd | 11.5 Cr. | 25.4 | 35.8/17.6 | 95.8 | 7.17 | 0.00 % | 10.6 % | 8.49 % | 10.0 |
| Bhagawati Oxygen Ltd | 9.50 Cr. | 41.1 | 72.3/36.3 | 17.2 | 0.00 % | 6.68 % | 10.6 % | 10.0 | |
| Refex Industries Ltd | 4,880 Cr. | 357 | 575/334 | 24.2 | 103 | 0.14 % | 25.3 % | 22.0 % | 2.00 |
| Linde India Ltd | 50,132 Cr. | 5,878 | 7,870/5,202 | 99.1 | 463 | 0.08 % | 16.9 % | 12.3 % | 10.0 |
| Industry Average | 27,506.00 Cr | 1,575.38 | 73.03 | 147.59 | 0.06% | 14.87% | 13.35% | 8.00 |
Quarterly Result
| Metric | Jun 2022 | Sep 2022 | Dec 2022 | Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 265 | 353 | 380 | 630 | 381 | 350 | 302 | 337 | 585 | 520 | 708 | 611 | 365 |
| Expenses | 243 | 317 | 341 | 557 | 345 | 315 | 268 | 294 | 533 | 472 | 655 | 548 | 325 |
| Operating Profit | 22 | 37 | 40 | 74 | 37 | 35 | 34 | 44 | 52 | 48 | 53 | 64 | 40 |
| OPM % | 8% | 10% | 10% | 12% | 10% | 10% | 11% | 13% | 9% | 9% | 8% | 10% | 11% |
| Other Income | 2 | 2 | 1 | 2 | 2 | 5 | 3 | 8 | 2 | 8 | 25 | 16 | 11 |
| Interest | 4 | 3 | 4 | 6 | 6 | 6 | 7 | 7 | 4 | 4 | 5 | 5 | 6 |
| Depreciation | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 3 | 3 | 4 |
| Profit before tax | 19 | 34 | 36 | 68 | 30 | 32 | 27 | 43 | 48 | 50 | 71 | 72 | 41 |
| Tax % | 27% | 26% | 26% | 25% | 26% | 27% | 28% | 16% | 25% | 25% | 17% | 21% | 20% |
| Net Profit | 14 | 25 | 26 | 51 | 22 | 23 | 20 | 36 | 36 | 37 | 59 | 57 | 33 |
| EPS in Rs | 1.31 | 2.42 | 2.37 | 4.59 | 1.99 | 2.12 | 1.79 | 3.09 | 3.11 | 3.09 | 4.58 | 4.42 | 2.55 |
Last Updated: August 20, 2025, 4:30 am
Below is a detailed analysis of the quarterly data for Refex Industries Ltd based on the most recent figures (Jun 2025) and their trends compared to the previous period:
- For Sales, as of Jun 2025, the value is 365.00 Cr.. The value appears to be declining and may need further review. It has decreased from 611.00 Cr. (Mar 2025) to 365.00 Cr., marking a decrease of 246.00 Cr..
- For Expenses, as of Jun 2025, the value is 325.00 Cr.. The value appears to be improving (decreasing) as expected. It has decreased from 548.00 Cr. (Mar 2025) to 325.00 Cr., marking a decrease of 223.00 Cr..
- For Operating Profit, as of Jun 2025, the value is 40.00 Cr.. The value appears to be declining and may need further review. It has decreased from 64.00 Cr. (Mar 2025) to 40.00 Cr., marking a decrease of 24.00 Cr..
- For OPM %, as of Jun 2025, the value is 11.00%. The value appears strong and on an upward trend. It has increased from 10.00% (Mar 2025) to 11.00%, marking an increase of 1.00%.
- For Other Income, as of Jun 2025, the value is 11.00 Cr.. The value appears to be declining and may need further review. It has decreased from 16.00 Cr. (Mar 2025) to 11.00 Cr., marking a decrease of 5.00 Cr..
- For Interest, as of Jun 2025, the value is 6.00 Cr.. The value appears to be increasing, which may not be favorable. It has increased from 5.00 Cr. (Mar 2025) to 6.00 Cr., marking an increase of 1.00 Cr..
- For Depreciation, as of Jun 2025, the value is 4.00 Cr.. The value appears to be increasing, which may not be favorable. It has increased from 3.00 Cr. (Mar 2025) to 4.00 Cr., marking an increase of 1.00 Cr..
- For Profit before tax, as of Jun 2025, the value is 41.00 Cr.. The value appears to be declining and may need further review. It has decreased from 72.00 Cr. (Mar 2025) to 41.00 Cr., marking a decrease of 31.00 Cr..
- For Tax %, as of Jun 2025, the value is 20.00%. The value appears to be improving (decreasing) as expected. It has decreased from 21.00% (Mar 2025) to 20.00%, marking a decrease of 1.00%.
- For Net Profit, as of Jun 2025, the value is 33.00 Cr.. The value appears to be declining and may need further review. It has decreased from 57.00 Cr. (Mar 2025) to 33.00 Cr., marking a decrease of 24.00 Cr..
- For EPS in Rs, as of Jun 2025, the value is 2.55. The value appears to be declining and may need further review. It has decreased from 4.42 (Mar 2025) to 2.55, marking a decrease of 1.87.
Overall, while many items appear to show a positive trend, any significant downward movement warrant further investigation.
Profit & Loss - Annual Report
Last Updated: October 15, 2025, 4:34 am
| Metric | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 25 | 85 | 78 | 38 | 77 | 461 | 661 | 633 | 444 | 1,629 | 1,371 | 2,430 | 2,204 |
| Expenses | 22 | 79 | 75 | 36 | 75 | 433 | 609 | 565 | 383 | 1,454 | 1,222 | 2,214 | 2,000 |
| Operating Profit | 2 | 6 | 3 | 2 | 2 | 28 | 51 | 68 | 61 | 175 | 149 | 216 | 204 |
| OPM % | 10% | 7% | 3% | 6% | 2% | 6% | 8% | 11% | 14% | 11% | 11% | 9% | 9% |
| Other Income | 3 | -0 | 0 | 2 | 2 | 2 | -1 | 4 | 18 | 8 | 18 | 52 | 61 |
| Interest | 2 | 0 | 1 | 3 | 1 | 0 | 1 | 9 | 13 | 19 | 26 | 18 | 19 |
| Depreciation | 2 | 2 | 1 | 1 | 1 | 1 | 1 | 5 | 6 | 7 | 9 | 11 | 12 |
| Profit before tax | 1 | 3 | 0 | 1 | 2 | 29 | 48 | 58 | 61 | 156 | 132 | 241 | 234 |
| Tax % | -0% | -0% | -1,613% | 13% | 46% | -10% | 31% | 29% | 26% | 26% | 23% | 21% | |
| Net Profit | 1 | 3 | 5 | 0 | 1 | 32 | 33 | 41 | 45 | 116 | 101 | 189 | 186 |
| EPS in Rs | 0.11 | 0.29 | 0.51 | 0.04 | 0.09 | 3.01 | 3.16 | 3.90 | 4.32 | 10.50 | 8.73 | 14.66 | 14.64 |
| Dividend Payout % | -0% | -0% | -0% | -0% | -0% | -0% | -0% | 8% | -0% | 4% | 6% | -0% |
YoY Net Profit Growth
| Year | 2014-2015 | 2015-2016 | 2016-2017 | 2018-2019 | 2019-2020 | 2020-2021 | 2021-2022 | 2022-2023 | 2023-2024 | 2024-2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| YoY Net Profit Growth (%) | 200.00% | 66.67% | -100.00% | 3100.00% | 3.12% | 24.24% | 9.76% | 157.78% | -12.93% | 87.13% |
| Change in YoY Net Profit Growth (%) | 0.00% | -133.33% | -166.67% | 3200.00% | -3096.88% | 21.12% | -14.49% | 148.02% | -170.71% | 100.06% |
Refex Industries Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 10 years from 2014-2015 to 2024-2025.
Growth
| Compounded Sales Growth | |
|---|---|
| 10 Years: | 40% |
| 5 Years: | 30% |
| 3 Years: | 76% |
| TTM: | 40% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | 51% |
| 5 Years: | 39% |
| 3 Years: | 75% |
| TTM: | 63% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | 72% |
| 5 Years: | 109% |
| 3 Years: | 133% |
| 1 Year: | -8% |
| Return on Equity | |
|---|---|
| 10 Years: | 30% |
| 5 Years: | 27% |
| 3 Years: | 27% |
| Last Year: | 22% |
Last Updated: September 5, 2025, 1:00 pm
Balance Sheet
Last Updated: November 9, 2025, 2:49 pm
| Month | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 15 | 15 | 15 | 15 | 15 | 15 | 15 | 21 | 21 | 22 | 23 | 26 | 26 |
| Reserves | -14 | -11 | -6 | -5 | -4 | 27 | 60 | 119 | 163 | 292 | 450 | 1,224 | 1,311 |
| Borrowings | 11 | 9 | 37 | 35 | 41 | 0 | 9 | 74 | 85 | 149 | 161 | 158 | 165 |
| Other Liabilities | 23 | 56 | 71 | 15 | 45 | 115 | 53 | 128 | 112 | 288 | 114 | 272 | 292 |
| Total Liabilities | 35 | 70 | 118 | 60 | 98 | 159 | 138 | 341 | 381 | 752 | 748 | 1,681 | 1,793 |
| Fixed Assets | 17 | 16 | 15 | 15 | 14 | 15 | 22 | 87 | 85 | 147 | 144 | 199 | 191 |
| CWIP | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 3 | 9 | 6 | 8 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 74 | 74 | 74 | 81 | 114 | 145 |
| Other Assets | 17 | 54 | 103 | 45 | 83 | 143 | 116 | 181 | 222 | 528 | 514 | 1,362 | 1,449 |
| Total Assets | 35 | 70 | 118 | 60 | 98 | 159 | 138 | 341 | 381 | 752 | 748 | 1,681 | 1,793 |
Below is a detailed analysis of the balance sheet data for Refex Industries Ltd based on the most recent figures (Sep 2025) and their trends compared to the previous period:
- For Equity Capital, as of Sep 2025, the value is 26.00 Cr.. The value remains steady. There is no change compared to the previous period (Mar 2025) which recorded 26.00 Cr..
- For Reserves, as of Sep 2025, the value is 1,311.00 Cr.. The value appears strong and on an upward trend. It has increased from 1,224.00 Cr. (Mar 2025) to 1,311.00 Cr., marking an increase of 87.00 Cr..
- For Borrowings, as of Sep 2025, the value is 165.00 Cr.. The value appears to be increasing, which may not be favorable. Additionally, since Reserves exceed Borrowings, this is considered a positive sign. It has increased from 158.00 Cr. (Mar 2025) to 165.00 Cr., marking an increase of 7.00 Cr..
- For Other Liabilities, as of Sep 2025, the value is 292.00 Cr.. The value appears to be increasing, which may not be favorable. It has increased from 272.00 Cr. (Mar 2025) to 292.00 Cr., marking an increase of 20.00 Cr..
- For Total Liabilities, as of Sep 2025, the value is 1,793.00 Cr.. The value appears to be increasing, which may not be favorable. It has increased from 1,681.00 Cr. (Mar 2025) to 1,793.00 Cr., marking an increase of 112.00 Cr..
- For Fixed Assets, as of Sep 2025, the value is 191.00 Cr.. The value appears to be declining and may need further review. It has decreased from 199.00 Cr. (Mar 2025) to 191.00 Cr., marking a decrease of 8.00 Cr..
- For CWIP, as of Sep 2025, the value is 8.00 Cr.. The value appears strong and on an upward trend. It has increased from 6.00 Cr. (Mar 2025) to 8.00 Cr., marking an increase of 2.00 Cr..
- For Investments, as of Sep 2025, the value is 145.00 Cr.. The value appears strong and on an upward trend. It has increased from 114.00 Cr. (Mar 2025) to 145.00 Cr., marking an increase of 31.00 Cr..
- For Other Assets, as of Sep 2025, the value is 1,449.00 Cr.. The value appears strong and on an upward trend. It has increased from 1,362.00 Cr. (Mar 2025) to 1,449.00 Cr., marking an increase of 87.00 Cr..
- For Total Assets, as of Sep 2025, the value is 1,793.00 Cr.. The value appears strong and on an upward trend. It has increased from 1,681.00 Cr. (Mar 2025) to 1,793.00 Cr., marking an increase of 112.00 Cr..
Notably, the Reserves (1,311.00 Cr.) exceed the Borrowings (165.00 Cr.), indicating a solid financial buffer.
Overall, while many items appear to show a positive trend, any significant downward movement or items where Borrowings exceed Reserves warrant further investigation.
Cash Flow - No data available for this post.
Free Cash Flow
| Month | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Free Cash Flow | -9.00 | -3.00 | -34.00 | -33.00 | -39.00 | 28.00 | 42.00 | -6.00 | -24.00 | 26.00 | -12.00 | 58.00 |
Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)
Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.
Financial Efficiency Indicators
| Month | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 65 | 215 | 376 | 87 | 173 | 69 | 40 | 54 | 96 | 55 | 81 | 101 |
| Inventory Days | 174 | 4 | 7 | 22 | 33 | 7 | 2 | 4 | 8 | 3 | 3 | 2 |
| Days Payable | 321 | 281 | 382 | 156 | 264 | 92 | 27 | 70 | 79 | 49 | 21 | 37 |
| Cash Conversion Cycle | -82 | -63 | 1 | -47 | -57 | -15 | 15 | -12 | 24 | 8 | 63 | 66 |
| Working Capital Days | -273 | -34 | -40 | 255 | 159 | 9 | 20 | 14 | 70 | 41 | 74 | 99 |
| ROCE % | 15% | 24% | 6% | 7% | 6% | 61% | 85% | 45% | 25% | 48% | 29% | 25% |
This stock is not held by any mutual fund.
Key Financial Ratios
| Month | Mar 25 | Mar 24 | Mar 23 | Mar 21 | Mar 20 |
|---|---|---|---|---|---|
| FaceValue | 2.00 | 2.00 | 10.00 | 10.00 | 10.00 |
| Basic EPS (Rs.) | 12.93 | 8.40 | 53.89 | 21.73 | 21.37 |
| Diluted EPS (Rs.) | 12.38 | 8.36 | 53.84 | 21.73 | 21.37 |
| Cash EPS (Rs.) | 14.78 | 9.21 | 55.62 | 22.01 | 22.31 |
| Book Value[Excl.RevalReserv]/Share (Rs.) | 81.93 | 40.25 | 142.21 | 66.45 | 48.98 |
| Book Value[Incl.RevalReserv]/Share (Rs.) | 81.93 | 40.25 | 142.21 | 66.45 | 48.98 |
| Revenue From Operations / Share (Rs.) | 191.02 | 119.54 | 736.94 | 301.24 | 426.97 |
| PBDIT / Share (Rs.) | 20.14 | 14.21 | 82.75 | 34.34 | 36.27 |
| PBIT / Share (Rs.) | 17.62 | 13.04 | 79.63 | 31.82 | 35.37 |
| PBT / Share (Rs.) | 15.48 | 10.49 | 70.74 | 27.55 | 31.03 |
| Net Profit / Share (Rs.) | 12.26 | 8.04 | 52.50 | 19.49 | 21.41 |
| NP After MI And SOA / Share (Rs.) | 12.29 | 8.11 | 52.50 | 19.49 | 21.41 |
| PBDIT Margin (%) | 10.54 | 11.88 | 11.22 | 11.39 | 8.49 |
| PBIT Margin (%) | 9.22 | 10.90 | 10.80 | 10.56 | 8.28 |
| PBT Margin (%) | 8.10 | 8.77 | 9.59 | 9.14 | 7.26 |
| Net Profit Margin (%) | 6.41 | 6.72 | 7.12 | 6.47 | 5.01 |
| NP After MI And SOA Margin (%) | 6.43 | 6.78 | 7.12 | 6.47 | 5.01 |
| Return on Networth / Equity (%) | 15.00 | 20.16 | 36.91 | 29.33 | 43.70 |
| Return on Capital Employeed (%) | 16.22 | 24.96 | 41.88 | 31.47 | 61.36 |
| Return On Assets (%) | 8.82 | 11.76 | 15.42 | 11.99 | 24.01 |
| Long Term Debt / Equity (X) | 0.08 | 0.11 | 0.12 | 0.00 | 0.00 |
| Total Debt / Equity (X) | 0.16 | 0.25 | 0.26 | 0.00 | 0.02 |
| Asset Turnover Ratio (%) | 1.90 | 1.78 | 0.00 | 2.64 | 4.46 |
| Current Ratio (X) | 3.49 | 2.59 | 1.59 | 1.32 | 2.24 |
| Quick Ratio (X) | 3.47 | 2.55 | 1.55 | 1.28 | 2.18 |
| Inventory Turnover Ratio (X) | 74.24 | 30.57 | 0.00 | 47.60 | 80.69 |
| Dividend Payout Ratio (NP) (%) | 0.00 | 5.88 | 0.00 | 5.13 | 0.00 |
| Dividend Payout Ratio (CP) (%) | 0.00 | 5.14 | 0.00 | 4.54 | 0.00 |
| Earning Retention Ratio (%) | 0.00 | 94.12 | 0.00 | 94.87 | 0.00 |
| Cash Earning Retention Ratio (%) | 0.00 | 94.86 | 0.00 | 95.46 | 0.00 |
| Interest Coverage Ratio (X) | 9.39 | 5.60 | 9.42 | 8.04 | 61.97 |
| Interest Coverage Ratio (Post Tax) (X) | 6.72 | 4.17 | 6.99 | 5.56 | 43.99 |
| Enterprise Value (Cr.) | 4698.88 | 1642.00 | 596.42 | 180.07 | 32.99 |
| EV / Net Operating Revenue (X) | 1.90 | 1.19 | 0.36 | 0.28 | 0.04 |
| EV / EBITDA (X) | 18.06 | 9.99 | 3.26 | 2.50 | 0.58 |
| MarketCap / Net Operating Revenue (X) | 1.98 | 1.13 | 0.32 | 0.31 | 0.07 |
| Retention Ratios (%) | 0.00 | 94.11 | 0.00 | 94.86 | 0.00 |
| Price / BV (X) | 4.61 | 3.35 | 1.67 | 1.41 | 0.68 |
| Price / Net Operating Revenue (X) | 1.98 | 1.13 | 0.32 | 0.31 | 0.07 |
| EarningsYield | 0.03 | 0.06 | 0.22 | 0.20 | 0.63 |
After reviewing the key financial ratios for Refex Industries Ltd, here is a detailed analysis based on the latest available data and recent trends:
- For FaceValue, as of Mar 25, the value is 2.00. This value is within the healthy range. There is no change compared to the previous period (Mar 24) which recorded 2.00.
- For Basic EPS (Rs.), as of Mar 25, the value is 12.93. This value is within the healthy range. It has increased from 8.40 (Mar 24) to 12.93, marking an increase of 4.53.
- For Diluted EPS (Rs.), as of Mar 25, the value is 12.38. This value is within the healthy range. It has increased from 8.36 (Mar 24) to 12.38, marking an increase of 4.02.
- For Cash EPS (Rs.), as of Mar 25, the value is 14.78. This value is within the healthy range. It has increased from 9.21 (Mar 24) to 14.78, marking an increase of 5.57.
- For Book Value[Excl.RevalReserv]/Share (Rs.), as of Mar 25, the value is 81.93. It has increased from 40.25 (Mar 24) to 81.93, marking an increase of 41.68.
- For Book Value[Incl.RevalReserv]/Share (Rs.), as of Mar 25, the value is 81.93. It has increased from 40.25 (Mar 24) to 81.93, marking an increase of 41.68.
- For Revenue From Operations / Share (Rs.), as of Mar 25, the value is 191.02. It has increased from 119.54 (Mar 24) to 191.02, marking an increase of 71.48.
- For PBDIT / Share (Rs.), as of Mar 25, the value is 20.14. This value is within the healthy range. It has increased from 14.21 (Mar 24) to 20.14, marking an increase of 5.93.
- For PBIT / Share (Rs.), as of Mar 25, the value is 17.62. This value is within the healthy range. It has increased from 13.04 (Mar 24) to 17.62, marking an increase of 4.58.
- For PBT / Share (Rs.), as of Mar 25, the value is 15.48. This value is within the healthy range. It has increased from 10.49 (Mar 24) to 15.48, marking an increase of 4.99.
- For Net Profit / Share (Rs.), as of Mar 25, the value is 12.26. This value is within the healthy range. It has increased from 8.04 (Mar 24) to 12.26, marking an increase of 4.22.
- For NP After MI And SOA / Share (Rs.), as of Mar 25, the value is 12.29. This value is within the healthy range. It has increased from 8.11 (Mar 24) to 12.29, marking an increase of 4.18.
- For PBDIT Margin (%), as of Mar 25, the value is 10.54. This value is within the healthy range. It has decreased from 11.88 (Mar 24) to 10.54, marking a decrease of 1.34.
- For PBIT Margin (%), as of Mar 25, the value is 9.22. This value is below the healthy minimum of 10. It has decreased from 10.90 (Mar 24) to 9.22, marking a decrease of 1.68.
- For PBT Margin (%), as of Mar 25, the value is 8.10. This value is below the healthy minimum of 10. It has decreased from 8.77 (Mar 24) to 8.10, marking a decrease of 0.67.
- For Net Profit Margin (%), as of Mar 25, the value is 6.41. This value is within the healthy range. It has decreased from 6.72 (Mar 24) to 6.41, marking a decrease of 0.31.
- For NP After MI And SOA Margin (%), as of Mar 25, the value is 6.43. This value is below the healthy minimum of 8. It has decreased from 6.78 (Mar 24) to 6.43, marking a decrease of 0.35.
- For Return on Networth / Equity (%), as of Mar 25, the value is 15.00. This value is within the healthy range. It has decreased from 20.16 (Mar 24) to 15.00, marking a decrease of 5.16.
- For Return on Capital Employeed (%), as of Mar 25, the value is 16.22. This value is within the healthy range. It has decreased from 24.96 (Mar 24) to 16.22, marking a decrease of 8.74.
- For Return On Assets (%), as of Mar 25, the value is 8.82. This value is within the healthy range. It has decreased from 11.76 (Mar 24) to 8.82, marking a decrease of 2.94.
- For Long Term Debt / Equity (X), as of Mar 25, the value is 0.08. This value is below the healthy minimum of 0.2. It has decreased from 0.11 (Mar 24) to 0.08, marking a decrease of 0.03.
- For Total Debt / Equity (X), as of Mar 25, the value is 0.16. This value is within the healthy range. It has decreased from 0.25 (Mar 24) to 0.16, marking a decrease of 0.09.
- For Asset Turnover Ratio (%), as of Mar 25, the value is 1.90. It has increased from 1.78 (Mar 24) to 1.90, marking an increase of 0.12.
- For Current Ratio (X), as of Mar 25, the value is 3.49. This value exceeds the healthy maximum of 3. It has increased from 2.59 (Mar 24) to 3.49, marking an increase of 0.90.
- For Quick Ratio (X), as of Mar 25, the value is 3.47. This value exceeds the healthy maximum of 2. It has increased from 2.55 (Mar 24) to 3.47, marking an increase of 0.92.
- For Inventory Turnover Ratio (X), as of Mar 25, the value is 74.24. This value exceeds the healthy maximum of 8. It has increased from 30.57 (Mar 24) to 74.24, marking an increase of 43.67.
- For Dividend Payout Ratio (NP) (%), as of Mar 25, the value is 0.00. This value is below the healthy minimum of 20. It has decreased from 5.88 (Mar 24) to 0.00, marking a decrease of 5.88.
- For Dividend Payout Ratio (CP) (%), as of Mar 25, the value is 0.00. This value is below the healthy minimum of 20. It has decreased from 5.14 (Mar 24) to 0.00, marking a decrease of 5.14.
- For Earning Retention Ratio (%), as of Mar 25, the value is 0.00. This value is below the healthy minimum of 40. It has decreased from 94.12 (Mar 24) to 0.00, marking a decrease of 94.12.
- For Cash Earning Retention Ratio (%), as of Mar 25, the value is 0.00. This value is below the healthy minimum of 40. It has decreased from 94.86 (Mar 24) to 0.00, marking a decrease of 94.86.
- For Interest Coverage Ratio (X), as of Mar 25, the value is 9.39. This value is within the healthy range. It has increased from 5.60 (Mar 24) to 9.39, marking an increase of 3.79.
- For Interest Coverage Ratio (Post Tax) (X), as of Mar 25, the value is 6.72. This value is within the healthy range. It has increased from 4.17 (Mar 24) to 6.72, marking an increase of 2.55.
- For Enterprise Value (Cr.), as of Mar 25, the value is 4,698.88. It has increased from 1,642.00 (Mar 24) to 4,698.88, marking an increase of 3,056.88.
- For EV / Net Operating Revenue (X), as of Mar 25, the value is 1.90. This value is within the healthy range. It has increased from 1.19 (Mar 24) to 1.90, marking an increase of 0.71.
- For EV / EBITDA (X), as of Mar 25, the value is 18.06. This value exceeds the healthy maximum of 15. It has increased from 9.99 (Mar 24) to 18.06, marking an increase of 8.07.
- For MarketCap / Net Operating Revenue (X), as of Mar 25, the value is 1.98. This value is within the healthy range. It has increased from 1.13 (Mar 24) to 1.98, marking an increase of 0.85.
- For Retention Ratios (%), as of Mar 25, the value is 0.00. This value is below the healthy minimum of 30. It has decreased from 94.11 (Mar 24) to 0.00, marking a decrease of 94.11.
- For Price / BV (X), as of Mar 25, the value is 4.61. This value exceeds the healthy maximum of 3. It has increased from 3.35 (Mar 24) to 4.61, marking an increase of 1.26.
- For Price / Net Operating Revenue (X), as of Mar 25, the value is 1.98. This value is within the healthy range. It has increased from 1.13 (Mar 24) to 1.98, marking an increase of 0.85.
- For EarningsYield, as of Mar 25, the value is 0.03. This value is below the healthy minimum of 5. It has decreased from 0.06 (Mar 24) to 0.03, marking a decrease of 0.03.
Overall, while many metrics show healthy performance, any figures highlighted in red or significant downward trends warrant further investigation.
Strength and Weakness
| Strength | Weakness |
|---|---|
|
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Stock Analysis
- Considering all of the following key financial indicators, prospective investors are encouraged to conduct thorough research and seek professional guidance before considering any investment in Refex Industries Ltd:
- Net Profit Margin: 6.41%
- Net Profit Margin: This metric indicates the percentage of profit a company makes from its total revenue. A higher net profit margin is generally desirable as it reflects better profitability.
- ROCE: 16.22% (Industry Average ROCE: 14.87%)
- ROCE (Return on Capital Employed): ROCE measures a company's profitability and the efficiency with which its capital is employed. A higher ROCE indicates efficient use of capital.
- ROE%: 15% (Industry Average ROE: 13.35%)
- ROE (Return on Equity): ROE measures a company's profitability relative to shareholders' equity. A higher ROE indicates efficient use of shareholders' funds.
- Interest Coverage Ratio (Post Tax): 6.72
- Interest Coverage Ratio: The interest coverage ratio measures a company's ability to cover its interest payments on outstanding debt. A ratio greater than 2 is generally considered healthy as it indicates the company can meet its interest obligations comfortably.
- Quick Ratio: 3.47
- Quick Ratio: The quick ratio assesses a company's ability to cover its short-term liabilities with its most liquid assets. A ratio higher than 1 suggests the company can meet its short-term obligations without relying heavily on inventory.
- Stock P/E: 24.2 (Industry average Stock P/E: 73.03)
- Stock P/E (Price-to-Earnings) Ratio: The P/E ratio compares a company's current share price to its earnings per share. A lower P/E ratio relative to industry peers or historical values may indicate that the stock is undervalued.
- Total Debt / Equity: 0.16
- Total Debt / Equity: This ratio measures a company's financial leverage by comparing its total debt to its total equity. A lower ratio indicates lower financial risk and greater financial stability.
Stock Rating: - Net Profit Margin: 6.41%
About the Company - Qualitative Analysis
| INDUSTRY | ADDRESS | CONTACT |
|---|---|---|
| Industrial Gases | 2nd Floor, Refex Towers, Sterling Road Signal, 313, Valluvar Kottam High Road, Chennai (Madras) Tamil Nadu 600034 | investor.relations@refex.co.in http://www.refex.co.in |
| Management | |
|---|---|
| Name | Position Held |
| Mr. Anil Jain | Chairman & Managing Director |
| Mr. Dinesh Kumar Agarwal | WholeTime Director & CFO |
| Ms. Susmitha Siripurapu | Non Executive Director |
| Mr. Ramesh Dugar | Independent Director |
| Mr. Sivaramakrishnan Vasudevan | Independent Director |
| Ms. Latha Venkatesh | Independent Director |
| Dr. Vineet Kothari | Independent Director |
FAQ
What is the intrinsic value of Refex Industries Ltd?
Refex Industries Ltd's intrinsic value (as of 09 November 2025) is 439.31 which is 23.06% higher the current market price of 357.00, indicating undervalued. Calculated using the PE ratio method, this valuation considers the company's 4,880 Cr. market cap, FY2025-2026 high/low of 575/334, reserves of ₹1,224 Cr, and liabilities of 1,681 Cr.
What is the Market Cap of Refex Industries Ltd?
The Market Cap of Refex Industries Ltd is 4,880 Cr..
What is the current Stock Price of Refex Industries Ltd as on 09 November 2025?
The current stock price of Refex Industries Ltd as on 09 November 2025 is 357.
What is the High / Low of Refex Industries Ltd stocks in FY 2025-2026?
In FY 2025-2026, the High / Low of Refex Industries Ltd stocks is 575/334.
What is the Stock P/E of Refex Industries Ltd?
The Stock P/E of Refex Industries Ltd is 24.2.
What is the Book Value of Refex Industries Ltd?
The Book Value of Refex Industries Ltd is 103.
What is the Dividend Yield of Refex Industries Ltd?
The Dividend Yield of Refex Industries Ltd is 0.14 %.
What is the ROCE of Refex Industries Ltd?
The ROCE of Refex Industries Ltd is 25.3 %.
What is the ROE of Refex Industries Ltd?
The ROE of Refex Industries Ltd is 22.0 %.
What is the Face Value of Refex Industries Ltd?
The Face Value of Refex Industries Ltd is 2.00.