Mumbai, July 2 -- Chennai-based Refex Industries said it has secured an order worth about Rs 211.5 million (mn) from a Maharatna Central Public Sector Enterprise to transport ash to road construction sites. The contract covers work for National Highways Authority of India projects and for Central and State government road departments and PMGSY schemes. The award, placed by a domestic entity, does not involve any related-party transaction and is scheduled to be executed over 12 months.
The scope of work includes collection and transportation of ash to construction locations for road projects, a service aligned with the company's existing operations in ash and coal handling. Refex Industries has developed a portfolio that also includes wind energy and green mobility solutions and will deploy resources from its Chennai base for this contract. The firm described the order as part of ongoing efforts to expand infrastructure services.
In financial performance the company reported a consolidated net profit rise of 87.96 per cent in the fourth quarter of fiscal year 2026 to Rs 908.2 million (mn) on a 57.14 per cent increase in revenue from operations to Rs 9.3417 billion (bn) compared with the same period the previous year. The results reflect growth across core segments and follow contracts secured in the infrastructure and renewable energy spaces. The figures underline a marked improvement in operating momentum.
Shares of Refex Industries rose 3.03 per cent to settle at Rs 348.10 on 25 June 2026. The company noted the Indian stock market was closed on 26 June 2026 for the Muharram holiday. The order reinforces the company's positioning in infrastructure logistics and complements its several recent contract wins.
Published by HT Digital Content Services with permission from Construction World.