Refex Industries Ltd

Refex Industries Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

Refex Industries Ltd

₹ 468 -1.40%
15 Jan 4:01 p.m.
refex.co.in BSE: 532884 NSE: REFEX
About

Refex Industries Limited specializes in trading eco-friendly refrigerant gases and providing comprehensive solutions for responsible coal procurement and ash disposal.[1]

Key Points

Business Verticals
1) Ash & Coal Handling Business (93% in Q1 FY25 vs 72% in FY22): The company entered the ash and coal handling business in 2018, offering services for the processing and disposal of ash and coal. It is the largest organized player in ash handling in India, managing 50,000 MT of ash daily.[1] [2] In FY24, it received significant tenders from NTPC and State Run Power plants for the ash disposal requirements. Other clients include Ultra Tech Cement, Adani, ACC, etc. [3] It caters to 19+ power plants operates across MP, Karnataka, Chhattisgarh, Bihar, Maharashtra, etc.[4]

Website BSE NSE
  • Market Cap ₹ 6,049 Cr.
  • Current Price ₹ 468
  • High / Low ₹ 600 / 109
  • Stock P/E 47.0
  • Book Value ₹ 52.4
  • Dividend Yield 0.02 %
  • ROCE 28.8 %
  • ROE 25.7 %
  • Face Value ₹ 2.00
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Pros

  • Company has delivered good profit growth of 26.2% CAGR over last 5 years
  • Company has a good return on equity (ROE) track record: 3 Years ROE 31.4%

Cons

  • Stock is trading at 8.94 times its book value
  • Promoter holding has decreased over last quarter: -3.63%

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: Trading Industry: Trading

Part of BSE Allcap BSE Commodities BSE SmallCap

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024
94 90 177 265 353 380 630 381 350 302 337 590 520
82 77 155 243 317 341 557 345 315 268 294 537 472
Operating Profit 12 12 22 22 37 40 74 37 35 34 44 52 48
OPM % 13% 14% 12% 8% 10% 10% 12% 10% 10% 11% 13% 9% 9%
2 1 15 2 2 1 2 2 5 3 8 2 8
Interest 2 2 3 4 3 4 6 6 6 7 7 4 4
Depreciation 1 1 1 2 2 2 2 2 2 2 2 2 2
Profit before tax 10 9 32 19 34 36 68 30 32 27 43 48 50
Tax % 26% 28% 25% 27% 26% 26% 25% 26% 27% 28% 16% 25% 25%
7 7 24 14 25 26 51 22 23 20 36 36 37
EPS in Rs 0.71 0.65 2.29 1.31 2.42 2.37 4.59 1.99 2.12 1.79 3.09 3.11 3.09
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Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 TTM
17 25 85 78 38 77 461 661 633 444 1,629 1,371 1,748
25 22 79 75 36 75 433 609 565 383 1,454 1,222 1,571
Operating Profit -8 2 6 3 2 2 28 51 68 61 175 149 177
OPM % -46% 10% 7% 3% 6% 2% 6% 8% 11% 14% 11% 11% 10%
-4 3 0 0 2 2 2 -1 4 18 8 18 22
Interest 1 2 0 1 3 1 0 1 9 13 19 26 22
Depreciation 3 2 2 1 1 1 1 1 5 6 7 9 9
Profit before tax -16 1 3 0 1 2 29 48 58 61 156 132 168
Tax % 0% 0% 0% -1,613% 13% 46% -10% 31% 29% 26% 26% 23%
-16 1 3 5 0 1 32 33 41 45 116 101 129
EPS in Rs -1.49 0.11 0.29 0.51 0.04 0.09 3.01 3.16 3.90 4.32 10.50 8.73 11.08
Dividend Payout % 0% 0% 0% 0% 0% 0% 0% 0% 8% 0% 4% 6%
Compounded Sales Growth
10 Years: 50%
5 Years: 24%
3 Years: 29%
TTM: 0%
Compounded Profit Growth
10 Years: 56%
5 Years: 26%
3 Years: 35%
TTM: 5%
Stock Price CAGR
10 Years: 72%
5 Years: 114%
3 Years: 157%
1 Year: 247%
Return on Equity
10 Years: 36%
5 Years: 34%
3 Years: 31%
Last Year: 26%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Sep 2024
Equity Capital 15 15 15 15 15 15 15 15 21 21 22 23 24
Reserves -15 -14 -11 -6 -5 -4 27 60 119 163 292 450 608
34 11 9 37 35 41 0 9 74 85 149 161 158
19 23 56 71 15 45 115 53 128 112 288 114 199
Total Liabilities 53 35 70 118 60 98 159 138 341 381 752 748 990
33 17 16 15 15 14 15 22 87 85 147 144 155
CWIP 0 0 0 0 0 0 0 0 0 0 3 9 15
Investments 0 0 0 0 0 0 0 0 74 74 74 81 78
20 17 54 103 45 83 143 116 181 222 528 514 741
Total Assets 53 35 70 118 60 98 159 138 341 381 752 748 990

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
12 9 -2 -25 4 -4 44 12 123 -14 28 -4
-8 13 4 -2 -0 1 0 5 -122 -5 -78 -16
-2 -21 -2 26 -3 4 -41 1 -5 2 60 43
Net Cash Flow 1 0 -1 -0 1 -0 3 17 -4 -17 10 23

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Debtor Days 168 65 215 376 87 173 69 40 54 96 55 81
Inventory Days 624 174 4 7 22 33 7 2 4 8 3 2
Days Payable 1,185 321 281 382 156 264 92 27 70 79 49 16
Cash Conversion Cycle -393 -82 -63 1 -47 -57 -15 15 -12 24 8 67
Working Capital Days -91 -107 5 132 255 159 9 22 20 84 51 94
ROCE % -25% 15% 24% 6% 7% 6% 61% 85% 45% 25% 48% 29%

Shareholding Pattern

Numbers in percentages

Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Nov 2024
50.21% 50.21% 50.21% 52.70% 52.70% 52.70% 53.33% 53.27% 55.28% 55.28% 57.12% 53.49%
0.26% 0.00% 0.29% 0.00% 0.07% 0.68% 0.41% 0.20% 0.22% 0.20% 1.53% 1.48%
0.00% 0.00% 0.00% 0.00% 0.00% 0.15% 0.10% 0.00% 0.00% 0.00% 0.00% 0.00%
49.53% 49.78% 49.50% 47.30% 47.23% 46.47% 46.17% 46.53% 44.50% 44.51% 41.35% 45.02%
No. of Shareholders 27,13527,24225,86528,28728,34033,61239,56842,58948,72957,63981,30285,136

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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