Refex Industries Limited (REFEX) Fair Value & Analysis
Energy · IN · Market cap ₹50.0B
Fair value as of: Jul 3, 2026
From 25 valuation models · updated today
Share price +13.9% over the past month.
Price vs Fair Value (12 months)
12‑month range ₹189.11 – ₹454.20 · fair‑value band ₹111.19 – ₹286.85 · the ₹358.40 price screens above the ₹199.10 fair value. As of Jul 3, 2026.
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Refex Industries Limited (REFEX) currently trades at ₹358.40, while our model-based Fair Value estimate is ₹199.10 — implying the stock looks roughly 44.4% overvalued today. We read business quality at 39/100 (below-average quality), in the Energy sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium — the entry price still matters most (evidence: high).
Over the trailing twelve months, Refex Industries Limited generated revenue of ₹22.8B at a net margin of 8.9%. Revenue grew 48.8% year over year. It earns a return on equity of 17.8%. The balance sheet holds a net cash position of ₹1.7B. Fundamentals as of Jul 3, 2026
Key figures & financial health
More key figures
Figures from reported company fundamentals (EODHD) · as of Jul 3, 2026. TTM = trailing twelve months.
About the company
Refex Industries Limited engages in handling and disposal of fly ash in India. It provides refills hydrofluorocarbons, which is used in air conditioners, refrigerators, and refrigeration systems. The company engages in solar power generation and related activities; coal trading; and providing coal yard management services and power trading solutions. It also owns and operates electric vehicles. The company was formerly known as Refex Refrigerants Limited and changed its name to Refex Industries Limited in November 2013. The company was incorporated in 2002 and is based in Chennai, India.
Revenue & earnings trend
FY2022 – FY2026 · reported fiscal years
Refex Industries Limited reported revenue of ₹22.8B in FY2026 versus ₹4.4B in FY2022, a compound +50.5%/yr. Reported net income was ₹2.0B in FY2026, compounding +45.5%/yr from FY2022.
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6 more Thermal Coal stocks, each showing price versus our Fair Value estimate (as of Jul 3, 2026).
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Frequently asked questions
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How we calculate Fair Value
Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data — nothing guessed.
Educational research only · not financial advice · no buy/sell recommendation. Model-based estimates are not certainties; their reliability depends on data quality and assumptions.