Refex Renewables & Infrastructure quarterly results and financials

Refex Renewables & Infrastructure (BSE 531260)₹368.75+1.00%(2 Nov 2026 close)Civil Construction

Key facts

In the Jun 2026 quarter (consolidated), Refex Renewables & Infrastructure reported sales of ₹22.12 Cr, up 32.6% from Jun 2025, and net profit of −₹3.15 Cr. For the year to Mar 2026, sales were ₹65.76 Cr and net profit −₹43.05 Cr.

Sales (Jun 2026): ₹22.12 Cr
Net profit (Jun 2026): −₹3.15 Cr
Sales (FY Mar 2026): ₹65.76 Cr
Net profit (FY Mar 2026): −₹43.05 Cr
EPS (Jun 2026): ₹−6.90
Borrowings (Mar 2026): ₹487 Cr

Company filings, consolidated accounts; latest reported quarter Jun 2026

Refex Renewables & Infrastructure quarterly results

₹ crore unless stated; each column is a quarter.

Refex Renewables & Infrastructure Quarterly results
	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Sales	20.47	20.46	17.73	17.93	13.96	15.84	19.99	16.68	14.23	16.03	19.28	22.12
Expenses	10.62	12.48	11.12	9.20	9.06	8.34	9.77	8.06	11.08	9.93	10.74	10.44
Operating Profit	9.96	8.10	6.71	8.83	4.96	7.58	10.33	8.70	3.22	6.19	8.64	11.79
OPM %	48.3%	39.4%	37.6%	49.0%	35.3%	47.6%	51.3%	51.9%	22.5%	38.4%	44.5%	53.0%
Other Income	0.81	2.42	2.54	0.35	0.39	1.28	4.92	1.90	0.87	2.42	1.00	3.50
Interest	10.76	10.65	9.49	10.29	10.38	10.84	11.63	11.37	11.55	12.82	12.31	11.58
Depreciation	4.57	4.69	4.64	4.44	4.53	4.52	4.60	4.66	4.95	4.99	5.00	4.96
Profit before tax	−4.60	−4.86	−4.92	−5.59	−9.61	−6.54	−1.02	−5.45	−12.46	−9.26	−7.73	−1.29
Tax %	128.8%	118.4%	121.2%	52.6%	32.4%	56.0%	397.0%	38.3%	15.4%	19.6%	31.0%	145.3%
Exceptional items	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Profit	−10.50	−10.58	−10.85	−8.52	−12.71	−10.18	−5.03	−7.52	−14.33	−11.05	−10.10	−3.15
EPS (Rs)	−15.63	−19.03	−17.98	−19.16	−28.35	−22.40	−10.51	−16.86	−32.71	−23.61	−22.18	−6.90

Refex Renewables & Infrastructure profit and loss

₹ crore unless stated; years end in March. TTM is the last four quarters.

Refex Renewables & Infrastructure Profit and loss
	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
Sales	0.00	70.69	62.79	71.71	52.78	75.74	74.67	66.75	65.76	71.66
Expenses	0.00	62.02	74.12	97.06	60.04	67.07	42.02	35.03	40.03	42.19
Operating Profit	0.00	9.01	−11.02	−25.02	−7.01	9.02	33.02	32.06	27.05	29.84
OPM %	—	13.0%	−18.1%	−35.1%	−13.1%	11.0%	44.0%	48.0%	40.0%	41.6%
Other Income	0.00	2.01	2.01	12.03	11.03	20.06	18.05	7.02	6.01	7.79
Interest	0.00	0.00	6.01	13.98	20.01	34.98	41.95	42.98	47.99	48.26
Depreciation	0.00	0.00	4.01	15.01	17.02	16.01	18.01	18.03	20.02	19.90
Profit before tax	0.00	11.04	−19.06	−42.13	−32.13	−23.07	−8.03	−23.07	−35.11	−30.74
Tax %	−20.0%	31.0%	11.0%	−36.0%	14.0%	33.0%	313.0%	60.0%	24.0%	—
Exceptional items	0.00	−0.60	0.00	−0.06	1.90	−0.14	−15.02	0.92	0.00	0.00
Net Profit	0.00	8.02	−22.03	−27.05	−37.07	−30.07	−34.03	−36.04	−43.05	−38.63
EPS (Rs)	−0.17	17.20	−47.63	−61.72	−72.42	−52.12	−55.11	−80.84	−93.57	−85.40
Dividend payout %	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	—

Refex Renewables & Infrastructure balance sheet

₹ crore, at each year end.

Refex Renewables & Infrastructure Balance sheet
	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	4.01	3.99	3.99	3.99	3.99	3.99	3.99	3.99	3.99
Reserves	0.00	7.98	117	182	56.91	32.91	8.98	−49.96	−85.02
Borrowings	0.00	24.02	109	152	334	474	419	473	487
Other Liabilities	0.00	38.13	78.28	51.25	157	89.57	75.85	87.57	110
Total Liabilities	5.01	74.12	308	389	551	601	509	516	516
Fixed Assets	0.00	12.97	169	171	173	172	457	452	442
CWIP	0.00	0.00	18.95	32.93	230	287	0.00	0.00	1.99
Investments	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	10.98
Other Assets	5.01	61.15	120	186	148	142	51.17	63.17	61.19
Inventories	0.00	7.52	9.43	7.62	3.23	7.66	0.65	1.02	1.67
Trade receivables	0.00	13.53	50.86	65.48	62.82	63.60	6.87	5.80	3.89
Cash & equivalents	4.35	8.70	5.11	22.18	12.39	9.68	9.32	13.37	5.86
Total Assets	5.01	74.12	308	389	551	601	509	516	516

Refex Renewables & Infrastructure cash flow

₹ crore, for each year.

Refex Renewables & Infrastructure Cash flow
	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Cash from operating activity	−1.01	−14.03	−46.14	84.24	−55.17	120	27.08	16.04
Cash from investing activity	2.01	5.01	−62.11	−159	−74.19	−14.02	−40.06	2.01
Cash from financing activity	2.99	4.01	119	73.98	125	−107	18.02	−23.99
Net cash flow	4.99	−3.99	9.98	−0.99	−2.99	−0.99	4.99	−5.99
Capex	0.38	19.62	39.72	233	72.57	15.58	13.01	5.75
Free cash flow	−0.99	−32.91	−85.74	−148	−127	105	13.95	9.97
CFO / OP %	−2.0%	112.0%	173.0%	−1,258.1%	−613.0%	376.0%	88.0%	61.9%

Refex Renewables & Infrastructure ratios

Working-capital days and returns, by year.

Refex Renewables & Infrastructure Ratios
	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Debtor days	70	297	334	431	305	33	32	21
Inventory days	—	75	89	115	194	43	—	157
Days payable	—	290	315	3,801	437	663	—	698
Cash conversion cycle	70	80	106	−3,256	60	−589	32	−521
Working capital days	−40	132	254	−440	−51	−250	−262	−368
ROCE %	60.0%	−11.0%	−10.0%	−4.0%	3.0%	5.0%	5.0%	3.0%

Refex Renewables & Infrastructure: frequently asked questions

What are the latest quarterly results of Refex Renewables & Infrastructure?

For the Jun 2026 quarter, Refex Renewables & Infrastructure reported sales of ₹22.12 Cr, up 32.6% year on year and net profit of −₹3.15 Cr. The operating margin was 53.0%.

What is the annual revenue of Refex Renewables & Infrastructure?

Refex Renewables & Infrastructure's sales for the year to Mar 2026 were ₹65.76 Cr; over the last twelve months they were ₹71.66 Cr.

What is the net profit of Refex Renewables & Infrastructure?

Net profit for the year to Mar 2026 was −₹43.05 Cr, and −₹38.63 Cr over the last twelve months. Earnings per share over the same trailing period were ₹−85.40.

How much debt does Refex Renewables & Infrastructure have?

Refex Renewables & Infrastructure reported borrowings of ₹487 Cr at Mar 2026, against cash and equivalents of ₹5.86 Cr.

What is the free cash flow of Refex Renewables & Infrastructure?

Cash from operations was ₹16.04 Cr in the year to Mar 2026; after capital spending, free cash flow was ₹9.97 Cr.

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