Refex Industries Limited — Q2FY27 earnings call summary

Filed 02 November 2026 · Official transcript

H1 FY27 revenue up 55% y-y to INR1,179 Cr; PAT up 55% to INR133 Cr with margin improvement
Wind energy business expects FY27 EBITDA margin 4-5%, PAT margin 2.5-3%, with indigenization benefits in 1-1.5 years
Ready-mix concrete (RMC) business started operations; contribution to profitability expected from FY28
Standalone Q2 FY27 revenue grew 36% y-y to INR560 Cr; PAT up 13% to INR60 Cr
Ash & Coal Handling business growth guided at 20-25% CAGR for FY27 and beyond
Demerger of mobility business pending NCLT approval, expected within 2-3 months
Multiple analyst queries on wind order pipeline, RMC margins, and coal ash growth; management confident on targets
Mobility segment achieved positive EBITDA in Q2; PAT profitability targeted within 1 year