Here is the financial summary for Refex Industries Limited: 1. **Business Performance:** Refex Industries posted robust Q1 FY27 results.

Revenue surged 76.4% to ₹619.3 Cr, driven by strong operations.

Profitability soared, with EBITDA up 166.0% to ₹105.4 Cr and PAT growing 122.8% to ₹73.6 Cr, benefiting from improved business mix and efficiency.

2. **Growth Drivers or Strategy:** Strategic priorities include an integrated ash management model for the Ash & Coal business and aiming for ~5 GW annual wind production capacity over five years, leveraging adapted global technology.

3. **Recent Developments:** The Ash & Coal business secured ₹279 Cr in new orders, pushing its total order book to ₹1,635 Cr.

The Wind unit delivered its first 5.3 MW turbine from its new factory, securing ₹1,860 Cr in confirmed orders.

The mobility unit's demerger into Refex Mobility Limited is advancing, with its Equity Shareholders' Meeting set for August 5, 2026. 4. **Key Financial Metrics:** Q1 FY27 saw strong YoY growth: Revenue +76.4%, EBITDA +166.0%, and PAT +122.8%. Margins improved significantly, with EBITDA reaching 17.0% and PAT 11.9%. EPS stood at ₹5.37. 5. **Management Commentary / Outlook:** Management anticipates sustained growth, supported by ash utilization mandates and India’s 500 GW renewable energy targets.

A net debt-free balance sheet provides financial flexibility for future expansion.