Refex Industries Secures ₹300 Crore Coal Excavation Contract in Jharkhand; Shares Gain 2.21%

Mumbai, 24 October 2025: Refex Industries Limited (NSE: REFEX, BSE: 532884) share price gained 2.21% after the company announced the acquisition of a significant contract valued at ₹300 crore for the removal of overburden (OB), excavation, and transportation of coal from a prominent mining entity in Jharkhand. The project is slated for completion within eight months, with an option to extend the contract duration by up to four years.

Headquartered in Chennai, Refex Industries Limited was incorporated in 2002 and is listed on both the NSE and BSE. The company operates in various segments, including industrial gases, coal handling, ash management, and carbon credit trading. Refex is part of the Nifty Microcap 250 Index, reflecting its significant role in India’s industrial sector.

Refex Industries’ Stock Climbs 2.21% Following ₹300 Crore Mining Order

As of 1:49 PM IST, Refex Industries’ share price stood at ₹357.95, marking a 2.21% increase from the previous close. The stock reached an intraday high of ₹377.80 and a low of ₹347.80. The traded volume was approximately 5.31 lakh shares, with a total value of ₹19.39 crore. The company’s market capitalisation is ₹4,800 crore, and the price-to-earnings (P/E) ratio is 32.12, indicating a relatively low valuation compared to the industry average.

Key Details of the ₹300 Crore Coal Excavation Contract

• Client: Large Mining Entity in Jharkhand
• Scope of Work: Removal of overburden, excavation, and transportation of coal
• Contract Value: ₹300 crore
• Execution Period: 8 months, with an optional extension of up to 4 years
• Nature of Contract: Domestic, with no involvement of related parties or promoters

This contract is a strategic move for Refex Industries, enhancing its presence in the mining and coal logistics sector.

The acquisition of the ₹300 crore coal excavation contract positions Refex Industries to strengthen its foothold in the mining and coal logistics industry. The company’s diversified portfolio and strategic contracts contribute to its growth trajectory. Investors and stakeholders should monitor the execution of this project and its potential impact on Refex Industries’ financial performance and market position.

REF: https://nsearchives.nseindia.com/corporate/REFEX2002_24102025132309_RIL_Jharkhand_Order_sd.pdf

Disclaimer: At HDFC SKY, we take utmost care and due diligence in curating and presenting news and market-related content. However, inadvertent errors or omissions may occasionally occur.

If you have any concerns, questions, or wish to point out any discrepancies in our content, please feel free to write to us at content@hdfcsec.com.

Please note that the information shared is intended solely for informational purposes and does not make any investment recommendations