Refex Industries reported a consolidated revenue of ₹2,276.74 crore and PAT of ₹242.38 crore for FY26. The company is demerging its mobility business into a separate entity, Refex Mobility Limited, and will hold its AGM on July 31, 2026.
Refex Industries Reports Strong FY26 Results, Plans Mobility Business Demerger
Refex Industries Ltd has announced its financial results for the fiscal year 2025-26, with consolidated revenue reaching ₹2,276.74 crore and consolidated Profit After Tax (PAT) at ₹242.38 crore.
Reader Takeaway: Robust FY26 performance with strategic mobility demerger; focus on working capital.
What just happened
Refex Industries Ltd disclosed its consolidated financial performance for FY 2025-26. The company reported revenue from operations at ₹2,276.74 crore and a Profit After Tax (PAT) of ₹242.38 crore. On a standalone basis, revenue was ₹2,039.20 crore with PAT at ₹247.19 crore. The board has recommended a final dividend of ₹1 per equity share (50% of face value) for the fiscal year, subject to shareholder approval at the upcoming Annual General Meeting (AGM).
Why this matters
The financial results indicate a strong performance for the fiscal year. The proposed demerger of the mobility business into a separate entity, 'Refex Mobility Limited', signals a strategic move to unlock value and focus on distinct growth areas. The proposed reallocation of funds from capital expenditure to working capital also suggests an emphasis on operational efficiency and liquidity management.
The backstory
Refex Industries is involved in various sectors including refrigerant gases and expanded polystyrene (EPS) products. The company has been focusing on expanding its presence in energy transition and electric mobility solutions. The demerger of the mobility business is a key step in this strategic realignment.
What changes now
Following the demerger, Refex Mobility Limited will operate as an independent listed entity, potentially allowing for a more focused strategy and dedicated capital allocation for the mobility sector. Shareholders will need to approve the final dividend and the reallocation of preferential issue proceeds at the AGM. The re-appointment of Mr. Anil Jain as Chairman & Managing Director will also be voted upon.
Risks to watch
Any execution risks associated with the demerger process, including regulatory approvals and market reception of the new entity, could pose challenges. Changes in capital expenditure needs and the effectiveness of working capital management will be crucial for maintaining financial health.
Peer comparison
(No peer comparison data available in the filing.)
Context metrics (time-bound)
- AGM Date: Friday, July 31, 2026, at 11:00 AM IST.
- Final Dividend: ₹1 per equity share (50% of face value).
- FY 2025-26 Consolidated Revenue: ₹2,276.74 crore.
- FY 2025-26 Consolidated PAT: ₹242.38 crore.
- Preferential Issue Proceeds Reallocation: ₹19.07 crore from Capex to Working Capital.
What to track next
Investors should monitor the progress of the demerger process for Refex Mobility Limited. The outcome of the AGM regarding dividend approval and fund reallocation will be important. Performance of both Refex Industries and the soon-to-be-listed Refex Mobility will be key indicators for future returns.