This Smallcap stock, which specializes in trading eco-friendly refrigerant gases and providing comprehensive solutions for responsible coal procurement and ash disposal, was up 2 percent after its subsidiary partnered with Uber for EV for 2026.
Share Price Movement
In Wednesday’s trading session, the share price of Refex Industries touched a day’s high of Rs. 405.55 which was up by 2.21 percent. The stock price reiterated from the day’s high & was trading at Rs. 405.55, which is 1.37 percent higher than the previous closing price of Rs. 400.05 apiece.
The share has delivered multibagger 211 percent return and outperformed the Nifty Index in the past year.
What Happened
The company’s stock was in focus after Refex Industries, its subsidiary Refex Green Mobility, has partnered with Uber to deploy 1,000 electric vehicles (EVs) in major Indian cities by 2026, which includes Chennai, Bengaluru, Hyderabad, and Mumbai as per sources.
This initiative supports Uber’s global goal of achieving 100 percent emission-free rides by 2040. Refex Green Mobility, operating as Refex eVeelz, to supply the EVs. The partnership expands Uber’s electric vehicle adoption.
Management Commentary
Commenting on the development, the Chief of Staff, Refex Group, Sachin Navtosh Jha said “We are proud to partner with Uber to deliver electric solutions to more cities in India. This collaboration, in addition to our currently existing B2B as well as B2C operations with nearly 1,300 company-owned 4-wheeler EVs will help us contribute to reducing urban carbon emissions and will also play a key role in achieving India’s broader sustainability goals.”
Further, the head of supply and electrification of Uber India and South Asia, Aditya Kapoor said, ‘The partnership with Refex eVeelz is a significant step and it strengthens our efforts to electrify urban transportation, bringing more electric ride options to riders across many new cities in India. We remain focused on removing barriers to EV adoption and driving the transition to a greener future through partnerships that will build a sustainable future for all.’
Financials
In its Q3FY25 financial results, Refex Industries reported revenue of Rs. 717 crore, a 134.31 percent increase from Rs. 306 crore in the same quarter of the previous year. The Profit After Tax grew by 194.11 percent to Rs. 50 crore, up from Rs. 17 crore in the same quarter of the previous year.
Business Mix
The company earns 95.30 percent of its operational revenue from Ash & Coal Handling Business, 1.45 percent from Refrigerant Gas-Manufacturing(Refilling) and.Sales, 1.23 percent from Electric Vehicle, 1.64 percent from Power Trading, 0.35 percent from Solar Power (Generation & Other activities) for December 2024 quarter.
Company Profile
Refex Industries is a leading Indian company specializing in eco-friendly refrigerant gases, ash and coal handling, power trading, and green mobility. It operates across multiple sectors, focusing on sustainability and environmental responsibility.
Written by – Santhosh S
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