Refex Industries reported Q2 FY26 revenue of ₹423.38 Cr, with Net Profit rising significantly to ₹52.03 Cr from ₹37.32 Cr year-on-year, even as overall revenue was lower due to the discontinued power trading segment.

EBITDA margin showed strong improvement, reaching 17.42% compared to 9.18% in the prior year.

The Ash & Coal Handling segment remains core, managing over 70,000 MT daily.

A key strategy is an integrated ash handling model to secure long-term contracts.

In Green Mobility, a planned demerger aims to unlock value in the fast-growing EV sector, with the subsidiary already operating 1,410+ vehicles.

The new Wind Energy vertical achieved significant wins, securing a 153.7 MW project in Karnataka and a ₹474.45 Cr contract in Gujarat for Wind Turbine Generator (WTG) supply, marking its entry into large-scale wind energy.

The company targets 5 GW annual production capacity in wind turbines within five years, expanding its renewable footprint through strategic partnerships.