This Smallcap stock, which specializes in trading eco-friendly refrigerant gases and providing comprehensive solutions for responsible coal procurement and ash disposal, hit 5 percent after it plans to expand its fleet to 1,000 Electric Cars by FY26 with a Strategic Partnership.
Share Price Movement
In Wednesday’s trading session, the share price of Refex Industries touched a day’s high of Rs. 400.75 which was up by 4.99 percent. The stock price remained in the upper circuit limit price, a 5 percent higher than the previous closing price of Rs. 381.70 apiece. The share has delivered multibagger 207 percent return and outperformed the Nifty Index in the past year.
What Happened
The company’s stock was in focus after Refex Industries in its recent filing revealed that its wholly owned subsidiary Refex Green Mobility Limited (Refex eVeelz) has entered into an agreement with India’s largest ride hailing platform to induct and operate 1,000 electric four wheeler (e4Ws) across cities like Bengaluru, Hyderabad, Mumbai and Chennai in FY26.
Management Commentary
Based on the development, the Managing Director of Refex Industries, Anil Jain said “At Refex eVeelz, we are committed to playing a leading role in shaping the future of sustainable mobility in India. This strategic expansion not only strengthens our presence across key metropolitan cities but also aligns with our long-term vision of enabling a cleaner, smarter, and more efficient transportation ecosystem.”
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.
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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