Refex Industries Limited has announced its unaudited financial results for the third quarter and nine months ended December 31, 2025. For the third quarter of FY26, the company reported a total income of ₹590.29 crore, a significant increase from ₹431.18 crore in the previous quarter (Q2 FY26). The Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) stood at ₹93.91 crore, with an EBITDA margin of 16.10%, compared to ₹73.75 crore and 17.42% in Q2 FY26. Profit After Tax (PAT) for the quarter was ₹66.91 crore, a notable rise from ₹52.03 crore in Q2 FY26. The PAT margin was 11.33% in Q3 FY26, down from 12.07% in Q2 FY26. On a year-on-year basis, for Q3 FY26, total income was ₹590.29 crore, down from ₹733.48 crore in Q3 FY25. However, the EBITDA margin saw a substantial improvement, rising to 16.10% from 7.52% in Q3 FY25. This improvement is attributed to a strategic realignment of the product mix, with the company exiting the low-margin power trading business and focusing on higher-value segments like ash handling solutions. PAT for Q3 FY26 was ₹66.91 crore, an increase from ₹59.04 crore in Q3 FY25, with the PAT margin improving to 11.33% from 8.34% in the prior year quarter. For the nine-month period ended December 31, 2025 (9M FY26), total income was ₹1,398.68 crore, compared to ₹1,853.44 crore in 9M FY25. EBITDA for the nine months increased to ₹207.38 crore from ₹153.21 crore in the same period last year, with EBITDA margins expanding significantly from 8.43% to 15.11%. PAT for 9M FY26 stood at ₹151.91 crore, up from ₹132.32 crore in 9M FY25.
