{"id":173278,"date":"2026-01-22T03:35:15","date_gmt":"2026-01-22T08:35:15","guid":{"rendered":"https:\/\/alphastreet.com\/india\/?p=173278"},"modified":"2026-01-22T03:35:15","modified_gmt":"2026-01-22T08:35:15","slug":"refex-industries-q3-fy26-earnings-results","status":"publish","type":"post","link":"https:\/\/alphastreet.com\/india\/refex-industries-q3-fy26-earnings-results\/","title":{"rendered":"Refex Industries Q3 FY26 Earnings Results"},"content":{"rendered":"\n<p>Refex Industries Limited specializes in trading eco-friendly refrigerant gases and providing comprehensive solutions for responsible coal procurement and ash disposal.<\/p>\n\n\n\n<div style=\"height:33px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h2 class=\"wp-block-heading\">Q3 FY26 Earnings Results <\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Revenue from Operations: \u20b9576.01 crore, down 16.0% YoY from \u20b9686.04 crore in Q3 FY25; up 37.2% QoQ from \u20b9419.88 crore in Q2 FY26.<\/li>\n\n\n\n<li>Total Income: \u20b9590.29 crore, up 38% QoQ.<\/li>\n\n\n\n<li>EBITDA: \u20b993.91 crore, up 76.3% YoY from \u20b953.28 crore; EBITDA margin 16.1% vs 7.8% YoY (830 bps expansion).\u200b<\/li>\n\n\n\n<li>PBDT: \u20b986.41 crore, up 18% YoY from \u20b973.01 crore.\u200b<\/li>\n\n\n\n<li>PBT: \u20b981.37 crore, up 16% YoY from \u20b970.38 crore.\u200b<\/li>\n\n\n\n<li>Profit After Tax (PAT): \u20b953.92 crore, up 7.7% YoY from \u20b950.05 crore; up 44% QoQ from \u20b937.44 crore.<\/li>\n\n\n\n<li>PAT margin: 9.4% vs 7.3% YoY.\u200b<\/li>\n\n\n\n<li>9M FY26:\n<ul class=\"wp-block-list\">\n<li>Total Income: \u20b91,398.68 crore, down from \u20b91,853.44 crore.\u200b<\/li>\n\n\n\n<li>EBITDA: \u20b9207.38 crore, up from \u20b9153.21 crore; margin 15.1% vs 8.4%.\u200b<\/li>\n\n\n\n<li>PAT: \u20b9112.53 crore, up from \u20b9110.46 crore.\u200b<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n\n\n\n<div style=\"height:34px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h2 class=\"wp-block-heading\">Management Commentary &amp; Strategic Decisions \u2013 Q3 FY26<\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Management highlighted <a href=\"https:\/\/www.bseindia.com\/xml-data\/corpfiling\/AttachLive\/e85300d5-9de7-49ed-bb72-7f8e2762de2b.pdf\" target=\"_blank\" rel=\"noopener\">strong sequential growth<\/a> driven by Ash &amp; Coal Handling segment momentum and new project ramp\u2011ups, despite YoY revenue decline from discontinued non\u2011core businesses.<\/li>\n\n\n\n<li>Strategic realignment: Board approved discontinuance of low\u2011margin Refrigerant Gases business to focus on high\u2011margin Ash &amp; Coal Handling (order book \u20b91,500 crore) and emerging Wind Energy segment (deliveries from Feb 2026, substantial FY26 revenue expected).<\/li>\n\n\n\n<li>Promoter pledge reduction: Plans to substantially reduce 25\u201326% promoter pledge over 6 months, strengthening ownership structure.\u200b<\/li>\n\n\n\n<li>Outlook: Strong Ash &amp; Coal order book provides visibility; Wind business to contribute meaningfully by FY26 end.<\/li>\n<\/ul>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"839\" height=\"1024\" src=\"https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2026\/01\/Refex-Industries-Q3-FY26-Earnings-Results-839x1024.png\" alt=\"\" class=\"wp-image-173279\" srcset=\"https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2026\/01\/Refex-Industries-Q3-FY26-Earnings-Results-839x1024.png 839w, https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2026\/01\/Refex-Industries-Q3-FY26-Earnings-Results-246x300.png 246w, https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2026\/01\/Refex-Industries-Q3-FY26-Earnings-Results-768x937.png 768w, https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2026\/01\/Refex-Industries-Q3-FY26-Earnings-Results-1259x1536.png 1259w, https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2026\/01\/Refex-Industries-Q3-FY26-Earnings-Results.png 1489w\" sizes=\"auto, (max-width: 839px) 100vw, 839px\" \/><\/figure>\n\n\n\n<div style=\"height:33px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h2 class=\"wp-block-heading\">Q2 FY26 Earnings Results <\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Revenue from Operations: \u20b9419.88 crore.\u200b<\/li>\n\n\n\n<li>Total Income: \u20b9433 crore, up 15% QoQ.\u200b<\/li>\n\n\n\n<li>EBITDA: \u20b975.3 crore, margin 17.4% (up from 10.9% prior quarter).\u200b<\/li>\n\n\n\n<li>PAT: \u20b937.44 crore.\u200b<\/li>\n\n\n\n<li>H1 FY26: PAT \u20b959.62 crore.\u200b<\/li>\n<\/ul>\n\n\n\n<div style=\"height:34px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h2 class=\"wp-block-heading\">Management Commentary &amp; Strategic Directions \u2013 Q2 FY26<\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Q2 showed strong sequential recovery in Ash &amp; Coal Handling despite early monsoon impact; focus on cost discipline and high\u2011margin segments positioned company for H2 acceleration.<\/li>\n<\/ul>\n\n\n\n<p>To view the company\u2019s previous earnings and latest concall transcripts,&nbsp;<a href=\"https:\/\/alphastreet.com\/india\/\">click here<\/a>&nbsp; to visit the Alphastreet India news channel.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Refex Industries Limited specializes in trading eco-friendly refrigerant gases and providing comprehensive solutions for responsible coal procurement and ash disposal. Q3 FY26 Earnings Results Management Commentary &amp; Strategic Decisions \u2013 Q3 FY26 Q2 FY26 Earnings Results Management Commentary &amp; Strategic Directions \u2013 Q2 FY26 To view the company\u2019s previous earnings and latest concall transcripts,&nbsp;click here&nbsp; [&hellip;]<\/p>\n","protected":false},"author":1863,"featured_media":173279,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[105,5753],"tags":[9019],"class_list":["post-173278","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-infographics","category-industrials","tag-specialty-chemicals"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2026\/01\/Refex-Industries-Q3-FY26-Earnings-Results.png","jetpack_likes_enabled":false,"jetpack-related-posts":[{"id":172322,"url":"https:\/\/alphastreet.com\/india\/refex-industries-q2-fy26-earnings-results\/","url_meta":{"origin":173278,"position":0},"title":"Refex Industries Q2 FY26 Earnings Results","author":"Chirag Gupta","date":"November 11, 2025","format":false,"excerpt":"Refex Industries Limited specializes in trading eco-friendly refrigerant gases and providing comprehensive solutions for responsible coal procurement and ash disposal. \u00a0 Q2 FY26 Earnings Results Revenue from Operations: \u20b9427 crore, down 38.83% QoQ and 0.23% YoY, impacted by seasonality and monsoon-related demand weakness typical for the refrigerant industry. 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Plastic Piping System, Cross Laminated Films & Products, Protective Packaging Products, Industrial Moulded Components, Moulded Furniture, Storage & Material Handling Products, PerformancePackaging\u2026","rel":"","context":"In &quot;AlphaGraphs&quot;","block_context":{"text":"AlphaGraphs","link":"https:\/\/alphastreet.com\/india\/category\/infographics\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2026\/01\/Supreme-Industries-Q3-FY26-Earnings-Results.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2026\/01\/Supreme-Industries-Q3-FY26-Earnings-Results.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2026\/01\/Supreme-Industries-Q3-FY26-Earnings-Results.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2026\/01\/Supreme-Industries-Q3-FY26-Earnings-Results.png?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2026\/01\/Supreme-Industries-Q3-FY26-Earnings-Results.png?resize=1050%2C600&ssl=1 3x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2026\/01\/Supreme-Industries-Q3-FY26-Earnings-Results.png?resize=1400%2C800&ssl=1 4x"},"classes":[]},{"id":177637,"url":"https:\/\/alphastreet.com\/india\/stylam-industries-q3-fy26-earnings-results\/","url_meta":{"origin":173278,"position":2},"title":"Stylam Industries Q3 FY26 Earnings Results","author":"Chirag Gupta","date":"January 26, 2026","format":false,"excerpt":"Stylam Industries is engaged in the manufacturing of decorative laminates under the brand name \u201cSTYLAM\u201d and exports its products primarily to European and South East Asian countries.It manufactures a wide range of high-quality decorative laminates, specialty surfaces, PU+ lacquer coating, solid surfaces and compact laminates.\u00a0 Q3 FY26 Earnings Results Revenue\u2026","rel":"","context":"In &quot;AlphaGraphs&quot;","block_context":{"text":"AlphaGraphs","link":"https:\/\/alphastreet.com\/india\/category\/infographics\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":177263,"url":"https:\/\/alphastreet.com\/india\/v-mart-retail-q3-fy26-earnings-results\/","url_meta":{"origin":173278,"position":3},"title":"V-Mart Retail  Q3 FY26 Earnings Results","author":"Chirag Gupta","date":"January 23, 2026","format":false,"excerpt":"V-Mart Retail is engaged in the business of Value Retailing through the chain of stores situated at various cities in India. 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