The shares of one of the Smallcap stocks that specialized in the business of manufacturing, upon receiving a work order to supply wind turbine generator (WTG) including tubular tower including O&M.
Price action
With a market capitalization of Rs. 5,935.28 crores on Monday, the shares of Refex Industries Ltd trading at Rs. 438 fell by 4.8 percent, making a low of Rs. 437.55 per share compared to its previous closing price of Rs. 460.55 per share.
What Happened
Refex Industries Ltd’s subsidiary, Venwind Refex Power Limited (VRPL) has received a domestic work order from Torrent Solar Power Private Limited to supply wind turbine generators (WTG) including tubular towers and O&M.
The contract involves the supply of wind turbine generators (WTGs) and tubular towers for a 153.7 MW wind power project in Karnataka, including testing, commissioning, and providing technical and supervisory assistance for the casting of foundation and erection of the WTGs. and operation & maintenance (O&M) services. The project is expected to be completed by April 16, 2026.
About the company
Refex Industries Ltd is an Indian multinational company primarily engaged in the business of manufacturing and trading refrigerants, chemicals, and industrial gases. Its product range includes fluorochemicals, refrigerants, and other specialty chemicals, catering to various sectors such as HVAC, automotive, and refrigeration.
Revenue Segments (FY24)
In FY24, the segment revenues were as follows: Ash & Coal Handling generated Rs. 945.59 crores, Power Trading Rs. 280.90 crores, Refrigerant Rs. 72.30 crores, Solar Power Generation and related activities Rs. 10.36 crores, Sale of Services Rs. 55.64 crores, and Other Operating Revenues were Rs. 5.76 crores, totaling Rs. 1,370.48 crores.
Marquee Clients
Refex Industries Ltd has a set of key clients in every segment which includes companies like NTPC, Adani, Hindalco, Voltas DBPL, TCS, Grant Thorton, and more.
Financials
The company’s total revenue rose by 49.6 percent from Rs 357.43 crore to Rs 534.73 crore in Q2FY24-25. Meanwhile, Net profit rose from Rs. 21.44 crore to Rs 31.06 crore during the same period.
Written by Sridhar J
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