Refex Industries Ltd

Refex Industries Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

Refex Industries Ltd

₹ 535 -0.34%
12 Dec 1:05 p.m.
refex.co.in BSE: 532884 NSE: REFEX
About

Refex Industries Limited specializes in trading eco-friendly refrigerant gases and providing comprehensive solutions for responsible coal procurement and ash disposal.[1]

Key Points

Business Verticals
1) Ash & Coal Handling Business (93% in Q1 FY25 vs 72% in FY22): The company entered the ash and coal handling business in 2018, offering services for the processing and disposal of ash and coal. It is the largest organized player in ash handling in India, managing 50,000 MT of ash daily.[1] [2] In FY24, it received significant tenders from NTPC and State Run Power plants for the ash disposal requirements. Other clients include Ultra Tech Cement, Adani, ACC, etc. [3] It caters to 19+ power plants operates across MP, Karnataka, Chhattisgarh, Bihar, Maharashtra, etc.[4]

Website BSE NSE - BE
  • Market Cap ₹ 6,891 Cr.
  • Current Price ₹ 535
  • High / Low ₹ 600 / 109
  • Stock P/E 62.4
  • Book Value ₹ 50.7
  • Dividend Yield 0.02 %
  • ROCE 26.4 %
  • ROE 23.9 %
  • Face Value ₹ 2.00
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Pros

  • Company has delivered good profit growth of 24.1% CAGR over last 5 years

Cons

  • Stock is trading at 10.6 times its book value
  • Promoter holding has decreased over last quarter: -3.63%

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: Trading Industry: Trading

Part of BSE Commodities BSE Allcap BSE SmallCap

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024
258 144 152 83 94 90 630 382 352 306 342 595 528
236 128 131 72 82 77 557 346 318 272 301 547 481
Operating Profit 22 16 22 12 12 12 74 36 34 34 41 48 46
OPM % 9% 11% 14% 14% 13% 14% 12% 10% 10% 11% 12% 8% 9%
0 0 4 1 2 1 2 2 5 3 8 2 7
Interest 0 0 8 2 2 2 6 6 6 8 8 6 5
Depreciation 0 0 4 1 1 1 2 3 3 4 4 6 6
Profit before tax 22 16 13 9 10 9 68 29 30 25 37 39 42
Tax % 28% 22% 41% 25% 26% 28% 25% 27% 29% 33% 9% 25% 26%
16 12 8 7 7 7 51 21 21 17 33 29 31
EPS in Rs 1.52 1.15 0.72 0.67 0.71 0.65 4.59 1.92 1.94 1.53 2.96 2.60 2.57
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Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2023 Mar 2024 TTM
85 78 38 77 461 661 633 1,629 1,383 1,771
79 75 36 75 433 609 565 1,454 1,237 1,601
Operating Profit 6 3 2 2 28 51 68 175 146 170
OPM % 7% 3% 6% 2% 6% 8% 11% 11% 11% 10%
0 0 2 2 2 -1 4 8 18 21
Interest 0 1 3 1 0 1 9 19 29 28
Depreciation 2 1 1 1 1 1 5 7 14 20
Profit before tax 3 0 1 2 29 48 58 156 121 143
Tax % 0% -1,613% 13% 46% -10% 31% 29% 26% 23%
3 5 0 1 32 33 41 116 93 111
EPS in Rs 0.29 0.51 0.04 0.09 3.01 3.16 3.90 10.50 8.11 9.66
Dividend Payout % 0% 0% 0% 0% 0% 0% 8% 4% 6%
Compounded Sales Growth
10 Years: %
5 Years: 25%
3 Years: 30%
TTM: -15%
Compounded Profit Growth
10 Years: %
5 Years: 24%
3 Years: 32%
TTM: -20%
Stock Price CAGR
10 Years: 81%
5 Years: 117%
3 Years: 175%
1 Year: 330%
Return on Equity
10 Years: %
5 Years: %
3 Years: %
Last Year: 24%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2023 Mar 2024 Sep 2024
Equity Capital 15 15 15 15 15 15 21 22 23 24
Reserves -11 -6 -5 -4 27 60 119 292 442 587
9 37 35 41 0 9 74 149 215 236
56 71 15 45 115 53 128 288 118 208
Total Liabilities 70 118 60 97 159 138 341 752 798 1,055
16 15 15 14 15 22 87 147 204 271
CWIP 0 0 0 0 0 0 0 3 9 37
Investments 0 0 0 0 0 0 74 74 74 0
54 103 45 83 143 116 181 529 512 747
Total Assets 70 118 60 97 159 138 341 752 798 1,055

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2023 Mar 2024
-3 -25 4 -4 44 12 123 28 3
4 -2 -0 -1 0 5 -122 -78 -42
-2 26 -3 4 -41 1 -5 60 62
Net Cash Flow -1 -0 1 -1 3 17 -4 10 23

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2023 Mar 2024
Debtor Days 215 376 87 173 69 40 54 55 81
Inventory Days 4 7 22 33 7 2 4 3 2
Days Payable 281 382 156 264 92 27 70 49 17
Cash Conversion Cycle -63 1 -47 -57 -15 15 -12 8 66
Working Capital Days 5 132 255 159 9 22 20 51 93
ROCE % 6% 7% 6% 61% 85% 45% 26%

Shareholding Pattern

Numbers in percentages

Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Nov 2024
50.21% 50.21% 50.21% 52.70% 52.70% 52.70% 53.33% 53.27% 55.28% 55.28% 57.12% 53.49%
0.26% 0.00% 0.29% 0.00% 0.07% 0.68% 0.41% 0.20% 0.22% 0.20% 1.53% 1.48%
0.00% 0.00% 0.00% 0.00% 0.00% 0.15% 0.10% 0.00% 0.00% 0.00% 0.00% 0.00%
49.53% 49.78% 49.50% 47.30% 47.23% 46.47% 46.17% 46.53% 44.50% 44.51% 41.35% 45.02%
No. of Shareholders 27,13527,24225,86528,28728,34033,61239,56842,58948,72957,63981,30285,136

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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