Refex Industries Q1 revenue falls on monsoon disruption

Refex Industries Limited reported Q1 FY26 standalone revenue of INR365.9 crores, down due to unusually early and intense monsoon affecting its core ash and coal handling operations. Consolidated profit stood at INR20.4 crores.

The company's ash and coal handling segment, contributing 95% of Q1 revenues, was hit by heavy rainfall. Green Mobility revenue increased 12% quarter-on-quarter to INR17.24 crores but operated at negative 50% margin.

Refex plans to wind down its power trading vertical by end of Q2 FY26 due to low profitability. The company expects significant sequential improvement from Q3 onwards, driven by new ash handling contracts.