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Refex Industries stock rose 4% after bagging an order worth ₹250 crore for handling and managing ash systems every day.
Fly ash is a byproduct of coal-based power plants.
Refex Industries provides clean energy solutions and handles industrial services like refrigerant gases and power plant ash management.
The deets: the contract is for daily handling of fly ash, pond ash, and hydrobin ash, as well as full upkeep and spares management of the ash handling system.
Separately, the board has increased authorised share capital from ₹40 crore to ₹100 crore, allowing for an additional ₹60 crore via 30 crore new equity shares. This step is part of a larger expansion and fundraising plan to fuel future growth.
Why it matters: Refex is known for its eco-friendly refrigerant gas business, has been steadily expanding into industrial services. This ash disposal and maintenance order marks a clear step in that direction. By taking on critical operations at power plants, Refex is diversifying its revenue streams and building expertise beyond gases.
Zoom out:, India produces over 200 million tonnes of fly ash every year. Managing this ash is a big challenge for power utilities, as it needs to be safely collected, transported, and either disposed of or reused in things like cement and road construction.
Fly ash systems are complex setups that handle this daily load, and poor maintenance can lead to pollution and plant inefficiencies. With stricter environmental norms and rising focus on circular use of industrial waste, ash management has become a critical service and companies like Refex are stepping in to fill the gap.
