Refex Industries Bags ₹27.50 crore Contract for Pond Ash Transportation in NHAI Road Projects.

Mumbai, December 17,2025: Refex Industries Limited has bagged a new domestic order worth ₹27.5 crore for the transportation of pond ash to the road development schemes under the National Highways Authority of India, marking a new entry into its infrastructure-related services por͏tfol͏io͏. The aforementioned order, as stated under Regulation 30 of the SEBI (LODR) Regulations,2015, is mandatorily required to be performed within a period of Four Months.

Refex Industries Limited is involved in the delivery of environmental, industrial logistics, and infrastructure services. It has developed expertise in managing by-products of industries, logistics management, demand management of services, and more recently, PSU/government-related businesses that require scale and service deliverability.

₹27͏.50 C͏r͏ore NHAI-Linke͏d Order ͏Boo͏s͏ts ͏Visi͏bil͏ity i͏n Infrastructure Log͏is͏t͏ics

T͏he newly acquired contract deals with po͏nd ash transportation for u͏se in road construction for N͏HAI, where the ash, which is an important by-product of ͏thermal power generation, wi͏ll be transported to these construction sites. T͏he application acquired has ensured efficient disposal of waste along with massive infrastructure formations in that it has made

The order will be executed by a domestic public sector undertaking (PSU) and doesn’t have any promoter or group company interest, and thus there will not be any related party transaction, and this will help in an arm’s length transaction and will provide clarity to the regulatory body as well. The four-month completion time period seems to provide some near-term visibility to the order book of Refex as well

Share Price Slides 8.72% Despite Order Announcement

On 17 December 2025, on the NSE, Refex Industries share price closed at ₹278.95, down ₹26.75 or 8.75% for the day. The shares opened at ₹290.85, touched an intraday high of ₹306.50, and fell to a low of ₹271.65. The company’s market capitalisation stood at ₹3.82 thousand crore, with a price-to-earnings ratio of 22.55. The stock remains well below its 52-week high of ₹535.00, while staying above the 52-week low of ₹215.10.

The ₹27.50 crore pond ash transportation contract highlights Refex Industries’ expanding role in PSU-linked infrastructure execution and sustainable material handling. The order strengthens near-term operational visibility, reinforces compliance-led project delivery, and underscores the integration of power sector by-products into national highway development without altering capital structure or related-party exposure.

Source: https://www.bseindia.com/xml-data/corpfiling/AttachLive/8bb0001a-f13d-470f-bb85-90b0511cc040.pdf

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