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Refex Industries has bagged an order worth ₹100 crore for pond and bottom ash management from a large conglomerate. The stock gained 8.8% on the back of this news.
Refex Industries works in the sectors of refrigerant gases, coal and ash management, and power trading. It serves industries like clean mobility and wind energy.
The deets: this is a multi-month engagement and Refex Industries will overlook the complete scope of services, including excavation, loading, and transportation of pond ash/bottom ash.
Pond ash and bottom ash are both by-products of coal-fired power plants and are used as raw materials in brick manufacturing, road construction, and other masonry equipment.
What this means for investors: this order is one of several Refex has secured this year, including wins through its power-trading subsidiary. It also supports the company’s rising revenue trajectory and its robust 16.4% profit growth.
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