Refex Industries Shares Jump 3% as ₹250 Cr GENCO Contract Accelerates Growth

08th July 2025: Refex Industries Limited shares rose slightly more than 3% in the early trade on Tuesday, after the company announced securing a ₹250 crore contract, awarded by a state-owned power generation company (GENCO), pertaining to ash disposal and maintenance of fly ash systems. The contract tenure will expire in March 2028.

With this announcement, the company has further strengthened its position as a key player in environmental and power-sector services. The announcement also aligns with the ecological mandate and industrial focus, resulting in enhanced investor confidence and transparency.

Contract Details and Scope of Work

The newly secured contract spans three years and encompasses comprehensive operations and maintenance (O&M) responsibilities for the existing ash handling systems at the GENCO facility. Specifically, Refex will manage the daily lifting and disposal of fly ash, pond ash, and hydrobin ash, along with overseeing system spares.

This domestic work order is part of Refex’s broader industrial and environmental operations vertical. The company emphasised that the transaction involves no related parties, and there is no promoter or group company interest in the awarding authority.

Market Reaction and Share Performance

As of 10:00 AM on July 8, the share price of Refex Industries climbed 3.03% to ₹458.00. Despite this uptrend, the stock remains 11.42% lower over the past six months. However, every year, Refex has delivered impressive returns, gaining 115.14%.

Strategic Importance

This ₹250 crore contract strengthens Refex Industries’ portfolio in industrial services, reinforcing its position in the ash management segment. The deal is expected to contribute stable recurring revenue and operational scale over the medium term.

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