Refex Industries Ltd Stock Price Today (NSE: REFEX)
Fundamental Score
Refex Industries Ltd Share Price — Live NSE/BSE Price, Fundamentals & Analysis
Refex Industries Ltd share price today is ₹322.60, up +0.80% on NSE/BSE as of 17 June 2026. Refex Industries Ltd (REFEX) is a Small-cap company in the Industrial Gases sector with a market capitalisation of ₹4.62K (Cr). The 52-week high for REFEX share price is ₹482.00 and the 52-week low is ₹188.00. At a P/E ratio of 26.33x, REFEX is currently trading below its industry average P/E of 45.88x. The company has a Return on Equity (ROE) of 18.91% and a debt-to-equity ratio of 0.14.
Refex Industries Ltd Share Price Chart — NSE/BSE Historical Performance
Refex Industries Ltd share price chart: 28.26% return over the past month. 52-week high ₹482.00, 52-week low ₹188.00.
Refex Industries Ltd — Last 10 Trading Days
| Date | Open | High | Low | Close | Volume |
|---|---|---|---|---|---|
| ₹304.10 | ₹318.90 | ₹304.10 | ₹316.95 | 15.96L (Cr) | |
| ₹333.00 | ₹333.10 | ₹306.00 | ₹307.70 | 21.62L (Cr) | |
| ₹331.70 | ₹336.95 | ₹322.20 | ₹328.30 | 41.96L (Cr) | |
| ₹328.75 | ₹328.75 | ₹328.75 | ₹328.75 | 0.00 (Cr) | |
| ₹298.00 | ₹344.60 | ₹296.60 | ₹328.75 | 193.45L (Cr) | |
| ₹284.15 | ₹307.35 | ₹281.05 | ₹295.15 | 121.30L (Cr) | |
| ₹285.00 | ₹288.60 | ₹280.55 | ₹284.15 | 10.25L (Cr) | |
| ₹280.00 | ₹280.75 | ₹273.60 | ₹279.05 | 6.29L (Cr) | |
| ₹280.05 | ₹288.80 | ₹276.40 | ₹278.55 | 10.30L (Cr) | |
| ₹271.80 | ₹279.70 | ₹269.55 | ₹277.05 | 8.63L (Cr) |
Refex Industries Ltd — Last 12 Months Price History
| Month | Open | High | Low | Close | Change |
|---|---|---|---|---|---|
| ₹333.00 | ₹333.10 | ₹304.10 | ₹316.95 | -4.82% | |
| ₹265.00 | ₹344.60 | ₹250.70 | ₹328.30 | +23.89% | |
| ₹195.00 | ₹274.70 | ₹194.84 | ₹263.86 | +35.31% | |
| ₹210.00 | ₹223.67 | ₹188.00 | ₹189.49 | -9.77% | |
| ₹220.63 | ₹264.50 | ₹209.69 | ₹220.69 | +0.03% | |
| ₹259.90 | ₹267.30 | ₹214.45 | ₹225.20 | -13.35% | |
| ₹343.95 | ₹346.60 | ₹215.10 | ₹259.90 | -24.44% | |
| ₹368.95 | ₹382.00 | ₹312.30 | ₹346.30 | -6.14% | |
| ₹356.90 | ₹382.40 | ₹344.40 | ₹368.20 | +3.17% | |
| ₹367.50 | ₹415.00 | ₹334.00 | ₹356.55 | -2.98% | |
| ₹434.10 | ₹442.00 | ₹342.75 | ₹366.50 | -15.57% | |
| ₹458.10 | ₹468.00 | ₹390.10 | ₹432.95 | -5.49% |
AI Research Briefing
Powered by Gemini · 2026-04-10
Refex is a micro-cap chasing industrial gas and green energy dreams, but execution risk is high.
WHAT'S HAPPENING NOW (last 2-4 weeks)
Refex Industries secured a order from a Navratna PSU in the steel sector for bulk industrial commodities. VRPL, a subsidiary, redeemed in OCDs and converted a loan to equity.
CORE STORY (THE REAL GAME)
Refex is attempting to transform from a refrigerant gas player to an industrial commodities and energy solutions provider, chasing government capex and the industrial gas boom.
- ₹70.2 crore order win from Navratna PSU
- Redeemed OCDs and converted loan to equity in subsidiary VRPL
- Industrial gas market projected to grow at 6.83% CAGR
- Further order wins in industrial commodities and renewable energy
- Successful commissioning of wind turbine projects by VRPL
- Government policies favoring industrial growth and green energy
- Micro-cap with high volatility
- Promoter pledging at 27.2%
- Cyclical nature of fly ash disposal and coal trading businesses
Promoter increased stake by 2.58%, FII decreased by 0.26%, DII decreased by 0.02%.
India's industrial gas market is poised for robust growth, driven by manufacturing and infrastructure development.
Secured ₹70.2 crore order from a Navratna PSU for supply of bulk industrial commodities.
No free cash flow data available.
Refex aims to capitalize on industrial growth and green energy initiatives. Success hinges on efficient execution and favorable government policies.
Primary Thesis Risk
Failure to diversify and execute orders will crush the stock.
For educational purposes only. Not investment advice. Consult a SEBI-registered advisor before investing.
Returns & Performance
Return on Equity (ROE)
Profit generated per ₹1 of shareholder equity
Return on Capital (ROCE)
Returns generated on total capital deployed
Oper. Profit Margin (5Y Avg)
Average operating profit margin over 5 years
Dividend Yield
Annual dividend as % of current share price
Refex Industries Ltd Valuation Check
Price to Earnings (P/E)
Share price ÷ earnings per share. Lower = cheaper
Industry Avg P/E
Average P/E of all peers in this sector
Market Capitalisation
Total market value of all outstanding shares
Growth Engine
Profit Growth (Quarterly YoY)
Net profit growth vs same quarter last year
Revenue Growth (Quarterly YoY)
Revenue growth vs same quarter last year
Revenue Growth (5-Year CAGR)
Compounded annual revenue growth over 5 years
EPS Growth (5-Year CAGR)
Earnings per share growth over 5 years
Net Profit Growth (5-Year CAGR)
Compounded annual net profit growth over 5 years
Balance Sheet Health
Debt to Equity Ratio
Total debt ÷ equity. Below 0.5 = financially healthy
Interest Coverage Ratio
EBIT ÷ interest expense. Above 2.5 = can pay interest comfortably
Free Cash Flow (5-Year Total)
Cash left after capex over 5 years. Positive = self-funded growth
Labels (e.g., "Excellent", "Good") are peer-based vs industry/sector averages — data-only, not advice
Refex Industries Ltd Fundamental Analysis & Valuation Benchmarking
Educational evaluation of REFEX across key market metrics for learning purposes.
Positive Indicators
10 factors identified
Strong Return on Equity (18.91%)
Observation: Efficient use of shareholders' capital generating superior returns.
Analysis: ROE >15% indicates strong profitability and effective management. This metric suggests the company can generate substantial returns on invested capital.
Excellent ROCE Performance (20.89%)
Observation: Superior returns on capital employed across business operations.
Analysis: ROCE >15% demonstrates efficient capital deployment and strong operational performance.
Attractive Valuation (P/E: 26.33 vs Industry: 45.88)
Observation: Trading at discount to industry peers.
Analysis: P/E below industry average may present value opportunity.
Robust Profit Growth (41.07%)
Observation: Strong year-over-year profit expansion demonstrates business momentum.
Analysis: Profit growth >20% indicates effective execution and market opportunity capture.
Consistent Growth Track Record (30.15% CAGR)
Observation: Strong 5-year sales compound annual growth rate.
Analysis: Consistent sales CAGR >12% demonstrates sustainable growth model.
Excellent EPS Growth (27.84% CAGR)
Observation: Outstanding 5-year earnings per share compound growth.
Analysis: EPS CAGR >15% indicates strong wealth creation potential.
Strong Profit Growth Track Record (33.25% CAGR)
Observation: Consistent 5-year profit compound annual growth rate.
Analysis: Profit CAGR >15% demonstrates scalable business model.
Conservative Debt Levels (D/E: 0.14)
Observation: Low leverage provides financial flexibility and reduced risk.
Analysis: Conservative debt structure offers resilience during economic downturns.
Strong Interest Coverage (8.50x)
Observation: Earnings comfortably cover interest obligations.
Analysis: Interest coverage >5x indicates low financial distress risk.
Balanced Promoter Holding (55.91%)
Observation: Optimal balance between promoter control and public float.
Analysis: Promoter holding in 50-75% range provides management alignment.
Risk Factors
2 factors identified
Limited Institutional Interest (FII+DII: 1.74%)
Observation: Low institutional participation may affect liquidity.
Analysis: Limited institutional interest may indicate size constraints or visibility issues.
High Share Pledging Risk (27.20%)
Observation: Significant promoter share pledging creates potential overhang.
Analysis: High pledging levels may create selling pressure during market downturns.
Refex Industries Ltd vs Industrial Gases Peers
Peer Comparison - Industrial Gases
Compare Refex Industries Ltd with 6 other companies in the same sector
| Company Info | Fundamental | Valuation | Profitability | Financial Health | Growth | Dividend | ||||
|---|---|---|---|---|---|---|---|---|---|---|
Company Company name | Score Bull Run comprehensive fundamental score based on 20+ metrics | Price Current trading price of the stock | Market Cap Total value of all shares in the market | P/E Price per share divided by earnings per share | ROE Net income divided by shareholder equity | ROCE Earnings before interest and tax divided by capital employed | Debt/Eq Total debt divided by total equity | Profit 5Y Average annual profit growth over 5 years | Sales 5Y Average annual sales growth over 5 years | Dividend Annual dividend per share divided by price per share |
Refex Industries LtdRefex Industrie...Selected✓ REFEX • 532884 | 48.9/100 | ₹322.60₹323 | ₹4615.25₹4615.25 | 26.33Average 26.3 Average | 18.91%Good 18.91% Good | 20.89%Excellent 20.89% Excellent | 0.14Excellent 0.1 Excellent | 33.25%Excellent 33.25% Excellent | 30.15%Excellent 30.15% Excellent | 0.15% |
Linde India LtdLinde India Ltd... LINDEINDIA • 523457 | 64/100 | ₹7259.00₹7259 | ₹50177.55₹50177.55 | 99.17Average 99.2 Average | 12.33%Average 12.33% Average | 16.90%Good 16.90% Good | 0.02Excellent 0.0 Excellent | 29.51%Excellent 29.51% Excellent | 7.12%Good 7.12% Good | 0.08% |
Ellenbarrie Industrial Gases LimitedEllenbarrie Ind... ELLEN • 544421 | 40.6/100 | ₹260.55₹261 | ₹5436.42₹5436.42 | 62.28Average 62.3 Average | 17.76%Good 17.76% Good | 18.23%Good 18.23% Good | 0.13Excellent 0.1 Excellent | -2.05%Poor -2.05% Poor | 12.39%Good 12.39% Good | 0.00% |
Stallion India Fluorochemicals LimitedStallion India ... STALLION • 544342 | 49.7/100 | ₹180.73₹181 | ₹1321.48₹1321.48 | 29.47Average 29.5 Average | 15.17%Good 15.17% Good | 19.67%Good 19.67% Good | 0.00Excellent 0.0 Excellent | — — | — — | 0.00% |
Hilltone Software and Gases IncHilltone Softwa... HILLTONE • 544308 | 14.9/100 | ₹47.07₹47 | ₹86.19₹86.19 | — — | -1.16%Poor -1.16% Poor | 2.34%Poor 2.34% Poor | 0.03Excellent 0.0 Excellent | — — | 13.01%Good 13.01% Good | 0.00% |
Natl OxygenNatl Oxygen... NTOX • 507813 | 16/100 | ₹112.90₹113 | ₹56.92₹56.92 | — — | — — | -21.54%Poor -21.54% Poor | — — | — — | -1.57%Poor -1.57% Poor | 0.00% |
Gagan Gases LtdGagan Gases Ltd... GAGAN • 524624 | 39.9/100 | ₹24.93₹25 | ₹10.67₹10.67 | 88.90Average 88.9 Average | 8.49%Poor 8.49% Poor | 10.64%Average 10.64% Average | 0.12Excellent 0.1 Excellent | 40.11%Excellent 40.11% Excellent | 35.41%Excellent 35.41% Excellent | 0.00% |
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Refex Industries Ltd PE Ratio History
Historical price-to-earnings ratio for REFEX — last 5 years
| Year | EPS (₹) | Price (₹) | P/E Ratio |
|---|---|---|---|
| FY 2025 | ₹12.38 | ₹259.90 | 21x |
| FY 2024 | ₹8.36 | ₹480.80 | 57.5x |
| FY 2023 | ₹10.77 | ₹120.32 | 11.2x |
| FY 2022 | ₹4.32 | ₹55.67 | 12.9x |
P/E = year-end price ÷ diluted EPS from annual filings. Source: NSE/BSE via Bull Run.
Refex Industries Ltd Dividend History
Annual cash dividends paid by REFEX — dividend yield 0.15%
| Financial Year | Dividends Paid (₹ Cr) |
|---|---|
| FY 2024 | ₹5.53 Cr |
| FY 2022 | ₹1.05 Cr |
| FY 2021 | ₹2.10 Cr |
Cash dividends from annual cash flow statements. Past dividends do not guarantee future payments. Not investment advice.
Refex Industries Ltd Quarterly Performance
Latest quarterly metrics for REFEX — revenue growth and profit growth vs same quarter last year
Revenue Growth (YoY)
-0.27%
Latest quarter vs same quarter previous year
Net Profit Growth (YoY)
41.07%
Latest quarter net profit vs same quarter previous year
5-Year Revenue CAGR
30.15%
Compounded annual revenue growth over 5 years
5-Year Profit CAGR
33.25%
Compounded annual net profit growth over 5 years
Refex Industries Ltd Technical Indicators
SMA 50, SMA 200, RSI and volume signals for REFEX — calculated from daily price history
Momentum is strong — price may be stretched. Watch for pullbacks.
Technical indicators are for educational purposes only. Not investment advice.
Refex Industries Ltd Financial Statements
Annual income statement, balance sheet and cash flow for Refex Industries Ltd (REFEX) — sourced from NSE/BSE filings.
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Fetching financial data for Refex Industries Ltd
About REFEX (Refex Industries Ltd)
Refex Industries Ltd is a multifaceted Indian enterprise with a growing footprint in the industrial gases sector and several related industries. While initially focused on refriger...ants, the company has strategically diversified its operations to encompass a broader range of environmentally conscious and resource-management endeavors. Refex’s core business involves the responsible recovery, processing, and distribution of specialized industrial gases, playing a vital role in supplying businesses across various sectors. These gases are crucial for an array of applications, ranging from cooling and refrigeration to manufacturing and industrial processes. By ensuring the proper handling and environmentally sound management of these substances, Refex actively contributes to sustainability and resource efficiency. Beyond industrial gases, Refex Industries demonstrates a commitment to sustainable practices through its involvement in several initiatives. The company actively participates in fly ash management, converting what would otherwise be waste into a valuable resource. Furthermore, Refex invests in renewable energy generation through solar power projects, contributing to a cleaner energy future. The company also offers power trading solutions, assisting clients with their energy needs. These activities showcase Refex's commitment to resource optimization and environmental responsibility, positioning it as a player in circular economy initiatives. Refex Industries Ltd demonstrates a forward-thinking approach by embracing electric mobility. The company owns and operates a fleet of electric vehicles, contributing to reducing carbon emissions in transportation. In addition to its eco-conscious ventures, Refex also has activities in coal trading and coal yard management, catering to the energy demands of certain industries. While these activities are distinct from its core industrial gases and renewable energy focus, they highlight the company's ability to adapt to evolving market needs and capitalize on opportunities within the broader energy landscape. Refex Industries’ dynamic portfolio reflects its ambition to be a versatile and impactful player in the resource management and industrial solutions sector.
Company Details
Key Leadership
Corporate Events
REFEX Share Price: Frequently Asked Questions
What is the current share price of Refex Industries Ltd?
Refex Industries Ltd (REFEX) trades at ₹322.60 on NSE and BSE. Market cap ₹4.62K (Cr). Educational data only.
What is the P/E ratio of Refex Industries Ltd?
Refex Industries Ltd has a P/E of 26.33x vs industry average 45.88x.
What is the Bull Run score for Refex Industries Ltd?
Refex Industries Ltd has a Bull Run score of 48.9/100 based on 25+ financial parameters.
Does Refex Industries Ltd pay dividends?
Refex Industries Ltd has a dividend yield of 0.15%. Past dividends don't guarantee future payments.
What is the ROE of Refex Industries Ltd?
Refex Industries Ltd has ROE of 18.91%. Higher ROE indicates better use of shareholder equity.
What is the debt-to-equity ratio of Refex Industries Ltd?
Refex Industries Ltd has debt-to-equity of 0.14.
Is Refex Industries Ltd a good investment?
Bull Run gives Refex Industries Ltd a score of 48.9/100. This is not investment advice — consult a SEBI-registered advisor.