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📋 Filing Types Available on ForgeUp Filings Sourced from BSE corporate announcements (equity segment). Companies covered are BSE-listed and most are also listed on NSE. We show only material filings.
Financial Results Orders Dividend Buyback Merger / Acquisition Board Meeting Outcome Fundraise (QIP / Rights / FPO) Regulatory / Court Order Credit Rating Change Promoter Pledge Update Management Change Joint Venture / MOU Delisting Bonus Shares Stock Split
Data sourced from BSE India corporate announcements. More categories will be added over time.
Refex Industries Ltd

Refex Industries Q2 FY27 Standalone PAT up 13.1% to ₹59.5 Crores; H1 PAT up 55.4%

RESULTS ▲ Positive Development MEDIUM RISK
📅 Filed on BSE: 28 Oct 2026, 01:51 PM IST  ·  BSE ID: 734b0b3d-64ef-4b8b-843e-924b5fbe82f3
View Original BSE Filing (PDF)
💡
In Simple Terms
Refex Industries reported higher sales and profits for the second quarter and first half of fiscal year 2027.
🤖 AI Summary
  • Refex Industries Q2 FY27 standalone revenue from operations was ₹559.5 Crores, up 36.1% YoY.
  • Q2 FY27 standalone Profit After Tax increased 13.1% YoY to ₹59.5 Crores.
  • H1 FY27 standalone revenue from operations stood at ₹1,178.8 Crores, a 54.7% YoY increase.
  • Half-year PAT for FY27 reached ₹133.2 Crores, reflecting a 55.4% YoY growth.
  • Ash & Coal business secured new orders worth ₹346 Crores, holding an orderbook of ₹1,721 Crores.
🔢 Key Numbers — exact figures from BSE filing, not rounded
Q2 FY27 Revenue from Operations
₹ 559.5 Crores
36.1%
Q2 FY27 Profit After Tax
₹ 59.5 Crores
13.1%
H1 FY27 Revenue from Operations
₹ 1,178.8 Crores
54.7%
H1 FY27 Profit After Tax
₹ 133.2 Crores
55.4%
Ash & Coal Orderbook
₹ 1,721 crs
🏢 How This Affects the Company
📈
Business Impact
The company's Ash & Coal business expanded its orderbook to ₹1,721 Crores and entered the Ready Mix Concrete (RMC) business with a new Pune plant in September 2026. Venwind business completed initial deliveries to three customers, generating ₹201 Crores in Q2 FY27 revenue.
💰
Financial Impact
Revenue from operations increased by 36.1% YoY in Q2 FY27 and 54.7% YoY in H1 FY27, contributing to a 13.1% YoY growth in Q2 PAT and a 55.4% YoY growth in H1 PAT. EBITDA margins for Q2 FY27 were 16.2%, down from 18.1% in Q2 FY26.
⚙️
Operational Impact
The entry into the RMC business marks a strategic forward integration aimed at increasing ash utilization and expanding market access. The Venwind business continues to execute its existing order book while building in-house manufacturing capabilities.
⚠️
Risk Impact
The proposed demerger scheme for the RGML business awaits NCLT approval, with hearings underway, which introduces a regulatory approval risk to its next phase of growth.
👥 What This Means For Shareholders
✅
Action Required
No immediate action is required by shareholders based on this financial results filing.
👤
Who Is Affected
Shareholders of Refex Industries Limited are informed about the company's financial performance for Q2 and H1 FY27, showing growth in revenue and profit. The proposed demerger of the RGML business is also a relevant update.
🔍
Management Signal
Management is focused on executing existing orders, expanding into new businesses like RMC, and progressing with the demerger of the mobility business to enhance value.

For information only. Not investment advice. ForgeUp is not SEBI-registered.

👁 Watch List — track these upcoming events
NCLT hearing outcome for RGML demerger scheme scheduled for October 28, 2026.
Q3 FY27 financial results for continued revenue and profit trends.
Updates on the performance and expansion of the new RMC business plant in Pune.
MEDIUM RISK The proposed demerger of RGML business is subject to NCLT approval, introducing a regulatory risk.
💡 Investor Takeaway
Refex Industries' Q2 FY27 standalone Profit After Tax rose 13.1% YoY to ₹59.5 Crores, with Revenue from Operations up 36.1% YoY to ₹559.5 Crores. H1 FY27 PAT increased 55.4% YoY to ₹133.2 Crores, driven by 54.7% YoY revenue growth to ₹1,178.8 Crores. The Ash & Coal business orderbook stood at ₹1,721 Crores.
⚖️ Strengths & Concerns

✅ Positives

  • Revenue from Operations for H1 FY27 increased by 54.7% YoY to ₹1,178.8 Crores.
  • Ash & Coal business secured new orders worth ₹346 Crores, with an orderbook of ₹1,721 Crores.

⚠️ Concerns

  • Q2 FY27 EBITDA margin was 16.2%, a decrease from 18.1% in Q2 FY26.
  • Q2 FY27 PAT margin was 10.6%, lower than 12.8% reported in Q2 FY26.
📅 Company Track Record
Refex Industries reported a Q1 FY27 net profit from continuing operations up 122.84% YoY to Rs. 7,363.78 Lakhs. For FY26, the company's PAT increased by 66.91% to ₹93.73 Crores in Q4, with the full year PAT at ₹247.19 Crores.

Based on publicly available historical data. For context only.

❓ Frequently Asked Questions
What was Refex Industries' revenue from operations in Q2 FY27?
Refex Industries reported a revenue from operations of ₹559.5 Crores in Q2 FY27, marking a 36.1% increase year-on-year.
What was Refex Industries' Profit After Tax for the half year ended September 30, 2026?
The Profit After Tax for Refex Industries for H1 FY27 was ₹133.2 Crores, a 55.4% increase compared to H1 FY26.
What is the current orderbook for Refex Industries' Ash & Coal business?
The Ash & Coal business of Refex Industries has an orderbook totaling ₹1,721 Crores, securing new orders worth ₹346 Crores in Q2 FY27.
Has Refex Industries entered any new businesses recently?
Yes, Refex Industries entered the RMC (Ready Mix Concrete) business by launching its first plant in Pune in September 2026.

Questions based on this BSE filing only. For information purposes.

⚠️ For Information Only — Not Investment Advice
ForgeUp Filings provides AI-generated summaries of public BSE exchange announcements (equity segment) for informational purposes only. Nothing here constitutes investment advice or a recommendation to buy, sell, or hold any security. ForgeUp is not a SEBI-registered investment advisor. All financial numbers are sourced directly from BSE filings and shown as-is. Past data is historical only. Please consult a qualified financial advisor before making investment decisions. Data sourced from BSE India public disclosures.
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