Refex Industries Secures ₹32 Crore Order from Maharatna PSU
Refex Inds gains on bagging Rs 32-cr order from Maharatna PSU
Business Standard
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Refex Industries, based in Chennai, India, has gained 1.12% in stock value after securing a ₹32.45 crore ($3.9 million USD) contract for transporting pond ash for road construction. The contract, awarded by a Maharatna public sector undertaking, is set to last one year, with a possible six-month extension.
- 01Refex Industries' stock increased by 1.12% following the contract award.
- 02The contract is valued at approximately ₹32.45 crore ($3.9 million USD).
- 03The order involves transporting pond ash to National Highways Authority of India (NHAI) and Public Works Department (PWD) sites.
- 04Refex's consolidated net profit rose by 5.03% to ₹61.34 crore ($7.4 million USD) despite a revenue drop.
- 05The company operates in sectors including ash handling, wind energy, and green mobility.
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Refex Industries, a Chennai-based company, saw its stock rise by 1.12% to ₹242.10 after securing a contract worth approximately ₹32.45 crore (about $3.9 million USD) from a Maharatna public sector undertaking for the transportation of pond ash. This contract is intended for use in road construction projects managed by the National Highways Authority of India (NHAI) and the Public Works Department (PWD). The contract is set to be executed over a period of one year, with a potential six-month extension. Refex Industries clarified that there are no interests from its promoters in the awarding entity, ensuring the contract does not involve related party transactions. In its latest financial report, Refex Industries reported a consolidated net profit increase of 5.03% to ₹61.34 crore (around $7.4 million USD), despite a 16.04% decline in revenue from operations, which totaled ₹576.01 crore (approximately $69.2 million USD) in Q3 FY26 compared to Q3 FY25.
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The contract will create job opportunities in the transportation sector and contribute to infrastructure development in India.
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