Refex Industries Reports Strong Q2 Growth

Revenue from continuing operations reached Rs 761.31 crore for the quarter ended September 30, 2026.
Net profit from continuing operations increased to Rs 59.55 crore for the same period.

Reader Takeaway: Strong operational growth in continuing segments; restructuring timeline remains the key pivot point for future valuation.

What just happened

Refex Industries has released its financial results for the quarter and half-year ended September 30, 2026. The company recorded a significant 84% surge in consolidated revenue from continuing operations compared to the same period last year. Net profit followed a similar upward trajectory, growing to Rs 59.55 crore from Rs 45.84 crore in Q2 of the previous fiscal.

Why this matters

The company is currently undergoing a major corporate restructuring involving the amalgamation of Refex Green Mobility Limited. By classifying its Power Trading and Refrigerant Gases segments as 'discontinued operations' under Ind AS 105, Refex is signaling a clear pivot in its business focus. Investors are closely watching these developments as the finalization of this scheme is subject to ongoing NCLT approval.

Context metrics

For the half-year ended September 30, 2026, the company posted a consolidated net profit of Rs 134.08 crore, significantly higher than the Rs 75.07 crore reported for the first half of the previous year. Total revenue for the six-month period stood at Rs 1,677.62 crore.

Risks to watch

The primary uncertainty remains the NCLT approval process for the composite Scheme of Amalgamation. Until this legal process is concluded, the operational and financial impact of separating the 'discontinued' segments from the core business will continue to be a focal point for balance sheet adjustments.

What to track next

Shareholders should monitor subsequent filings for updates on NCLT hearings and the final completion of the amalgamation process, which will determine the company's future operational structure.