Refex Industries Q3 FY26: profit up, revenue dips; exits refrigerant gas business

Revenue DeclineEbitda Margin ExpansionResults View source PDF Explain this filing

REFEX · price

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Price reactionminutes from the announcement price · days from the prior close

-3.1%Reaction day

₹242.50

prior close

₹242.00

announcement price

In-mkt

timing

Nifty Microcap 250market · index membership as recorded later (tracked since Jun 2026)-0.8%-2.3% vs market

Waste Management peers, median of 7sector-1.7%-1.4% vs sector

On the reaction day the stock moved 2.3 pts less than Nifty Microcap 250 and 1.4 pts less than its Waste Management peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

Minutes after the announcementfrom the announcement price · no benchmark

Stock

+0.5

10m

-0.1

15m

-0.1

30m

-2.2

Sessions after the filingfrom the prior close

StockMarketvs marketSectorvs sector

Reaction day

-3.1-0.8-2.3-1.7-1.4

Next day

-3.3+0.7-4.0-1.2-2.1

-8.5-1.4-7.0+0.2-8.7

-9.3-1.3-8.0-1.0-8.3

-4.3+0.7-5.0+0.3-4.6

-7.4+0.3-7.7+1.2-8.6

-9.3+0.9-10.1-2.1-7.2

15d

-0.2+6.8-6.9+7.8-7.9

-2.3+4.3-6.5-1.1-1.2

-22.4-8.7-13.7-20.1-2.3

+6.4+8.6-2.2+5.3+1.1

UpDownMarket · Nifty Microcap 250Sector · Waste Management peers, median of 7Pending

Minute windows have no benchmark: there is no intraday index history to compare against.

AI summary

Refex Industries Q3 FY26 standalone revenue fell 16% YoY to Rs 576.01 cr, 9M revenue down 19.6% to Rs 1,338.17 cr. Net profit for 9M rose 14.8% to Rs 151.91 cr, EPS at Rs 11.64 vs Rs 10.59. Operating margins expanded meaningfully. Board approved exiting Refrigerant Gas segment (about 2.5% of revenue) to focus on core Ash and Coal Handling business. Green Mobility also classified as discontinued in consolidated results.

Likely market impact

Profit growth and cleaner focus on core are positives, but the sharp revenue decline may weigh on the stock in the near term.