Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Financials of Refex Industries Ltd
Quarter-by-quarter operating performance
| Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 630 | 382 | 352 | 306 | 342 | 591 | 428 | 686 | 594 | 366 | 415 | 576 | 934 |
| Expenses + | 557 | 346 | 318 | 272 | 301 | 543 | 385 | 633 | 534 | 329 | 344 | 486 | 775 |
| Operating Profit | 74 | 36 | 34 | 34 | 41 | 48 | 43 | 53 | 60 | 37 | 71 | 90 | 160 |
| OPM % | 12% | 10% | 10% | 11% | 12% | 8% | 10% | 8% | 10% | 10% | 17% | 16% | 17% |
| Other Income + | 2 | 2 | 5 | 3 | 8 | 2 | 5 | 16 | 3 | 1 | -4 | -3 | -8 |
| Interest | 6 | 6 | 6 | 8 | 8 | 6 | 4 | 5 | 5 | 6 | 7 | 9 | 10 |
| Depreciation | 2 | 3 | 3 | 4 | 4 | 6 | 2 | 3 | 3 | 5 | 5 | 5 | 5 |
| Profit before tax | 68 | 29 | 30 | 25 | 37 | 39 | 42 | 62 | 55 | 28 | 55 | 73 | 136 |
| Tax % | 25% | 27% | 29% | 33% | 9% | 25% | 27% | 19% | 13% | 26% | 34% | 28% | 31% |
| Net Profit + | 51 | 21 | 21 | 17 | 33 | 29 | 31 | 50 | 48 | 20 | 36 | 53 | 94 |
| EPS in Rs | 4.59 | 1.92 | 1.94 | 1.53 | 2.96 | 2.60 | 2.57 | 3.88 | 3.74 | 1.64 | 2.90 | 3.93 | 6.62 |
Financials of Refex Industries Ltd
Annual income statement trend
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 85 | 78 | 38 | 77 | 461 | 661 | 633 | 1,629 | 1,383 | 2,468 | 2,277 |
| Expenses + | 79 | 75 | 36 | 75 | 433 | 609 | 565 | 1,454 | 1,237 | 2,258 | 1,920 |
| Operating Profit | 6 | 3 | 2 | 2 | 28 | 51 | 68 | 175 | 146 | 210 | 357 |
| OPM % | 7% | 3% | 6% | 2% | 6% | 8% | 11% | 11% | 11% | 8% | 16% |
| Other Income + | 0 | 0 | 2 | 2 | 2 | -1 | 4 | 8 | 18 | 50 | -13 |
| Interest | 0 | 1 | 3 | 1 | 0 | 1 | 9 | 19 | 29 | 28 | 32 |
| Depreciation | 2 | 1 | 1 | 1 | 1 | 1 | 5 | 7 | 14 | 33 | 20 |
| Profit before tax | 3 | 0 | 1 | 2 | 29 | 48 | 58 | 156 | 121 | 200 | 292 |
| Tax % | 0% | -1,613% | 13% | 46% | -10% | 31% | 29% | 26% | 23% | 21% | 30% |
| Net Profit + | 3 | 5 | 0 | 1 | 32 | 33 | 41 | 116 | 93 | 158 | 204 |
| EPS in Rs | 0.29 | 0.51 | 0.04 | 0.09 | 3.01 | 3.16 | 3.90 | 10.50 | 8.11 | 12.29 | 14.82 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 8% | 4% | 6% | 0% | 0% |
Financials of Refex Industries Ltd
Capital structure and asset base
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 15 | 15 | 15 | 15 | 15 | 15 | 21 | 22 | 23 | 26 | 27 |
| Reserves | -11 | -6 | -5 | -4 | 27 | 60 | 119 | 292 | 442 | 1,187 | 1,477 |
| Borrowings + | 9 | 37 | 35 | 41 | 0 | 9 | 74 | 149 | 215 | 286 | 225 |
| Other Liabilities + | 56 | 71 | 15 | 45 | 115 | 53 | 128 | 288 | 118 | 300 | 1,114 |
| Total Liabilities | 70 | 118 | 60 | 97 | 159 | 138 | 341 | 752 | 798 | 1,799 | 2,843 |
| Fixed Assets + | 16 | 15 | 15 | 14 | 15 | 22 | 87 | 147 | 204 | 345 | 220 |
| CWIP | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 3 | 9 | 17 | 10 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 74 | 74 | 74 | 31 | 0 |
| Other Assets + | 54 | 103 | 45 | 83 | 143 | 116 | 181 | 529 | 512 | 1,406 | 2,613 |
| Total Assets | 70 | 118 | 60 | 97 | 159 | 138 | 341 | 752 | 798 | 1,799 | 2,843 |
Financials of Refex Industries Ltd
Operating, investing and financing cash movement
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity + | -3 | -25 | 4 | -4 | 44 | 12 | 123 | 28 | 3 | -265 | 107 |
| Cash from Investing Activity + | 4 | -2 | -0 | -1 | 0 | 5 | -122 | -78 | -42 | -90 | -268 |
| Cash from Financing Activity + | -2 | 26 | -3 | 4 | -41 | 1 | -5 | 60 | 62 | 603 | 65 |
| Net Cash Flow | -1 | -0 | 1 | -1 | 3 | 17 | -4 | 10 | 23 | 249 | -95 |
| Free Cash Flow | -4 | -25 | 4 | -5 | 42 | 12 | 118 | -44 | -43 | -430 | 47 |
| CFO/OP | -56% | -930% | 190% | -248% | 180% | 47% | 182% | 25% | 18% | -96% | 35% |
Financials of Refex Industries Ltd
Working capital efficiency and return ratios
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 215 | 376 | 87 | 173 | 69 | 40 | 54 | 55 | 81 | 100 | 142 |
| Inventory Days | 4 | 7 | 22 | 33 | 7 | 2 | 4 | 3 | 3 | 2 | 15 |
| Days Payable | 281 | 382 | 156 | 264 | 92 | 27 | 70 | 49 | 20 | 37 | 92 |
| Cash Conversion Cycle | -63 | 1 | -47 | -57 | -15 | 15 | -12 | 8 | 63 | 65 | 65 |
| Working Capital Days | -34 | -40 | 255 | 159 | 9 | 20 | 14 | 41 | 69 | 94 | 144 |
| ROCE % | 6% | 7% | 6% | 61% | 85% | 45% | 26% | 21% | 22% |