Refex Industries Limited reports its financial results for Q4 FY23

Refex Industries Limited (Refex) reported its financial results for the quarter ending March 31, 2023.

Q2FY23 Highlights

• ~4X increase in the YoY revenue from Rs. 443 crores to Rs. 1,629 crores
• ~3X increase in YoY EBITDA from Rs. 60.85 crores to Rs. 174.64 crores
• Q-o-Q revenue increase by 65.65% from Rs. 380 crores in Q3FY23 to Rs. 630 crores in Q4FY23
• Q-o-Q EBITDA increase by 81% from Rs. 40.64 crore in Q3FY23 to Rs. 73.54 crores in Q4FY23
• Y-o-Y: Three times increase (approx.) in PBT from Rs 61 crores in FY22 to Rs 156 crores in FY23 and stood at 9.60%
• Q-o-Q: Two times increase (approx.) in PBT from Rs 36 crores in Q3FY23 to Rs 68 crores in Q4FY23 and stood at 10.78%

This quarter has shown an unprecedented result which is a testimony to our rigorous efforts and commitment. Even at a quarterly level, the business segments have been able to keep the momentum that had been achieved through the quarters and we firmly believe that we will be able to continue the momentum garnered in this year.

In Q4 FY23, Refex Industries Limited forayed into the green mobility business space by incorporating and operationalising a subsidiary Refex Green Mobility Limited, which is now a wholly-owned subsidiary. Currently, the entity provides EV-based fleet transport service to organizations.

Commenting on the quarter gone by, Anil Jain, Managing Director, Refex Industries Limited, said, "This year's performance has been remarkable and I can proudly say that it is a strong testimony to the efforts put in by the team, and the trust that the stakeholders have infused into Refex. As I have mentioned several times, this result will not only strengthen us to grow further from hereon but will also help us continue to stick to our commitments towards ESG. We are highly committed to integrating the Ten Principles of the UN Global Compact into strategies, policies and procedures, and establishing a culture of integrity to achieve SDG."