Refex Industries cash flow

Latest FY26

Cash from operations: ₹107cr−₹265 cr in FY25
Capital spending: ₹0.0crNo figure a year before
Free cash flow: ₹107cr−₹265 cr in FY25
Cash from financing: ₹65.4cr−89.2% on FY25

₹ crore except per share

Tap a line for its trend	Last 12Mto Sep 2026	FY26Mar 2026	FY25Mar 2025	FY24Mar 2024	FY23Mar 2023	FY22 and earlierAlpha Plus

Changes in working capital
Adjustments to reconcile profit — non-cash items						FY22 and earlierEvery year the company has filed comes with Alpha Plus.
	—	59.9	32.6	13.5	6.9
	—	0.0	0.0	0.1	0.0
	—	46.1	27.7	29.4	19.4
	—	−10.9	0.0	0.0	−7.6
	—	0.0	−19.9	0.0	0.0
	—	1.4	0.8	0.2	0.2
	—	0.0	−1.0	0.0	0.0
	—	10.9	−18.1	2.1	5.0
	—	−53.0	0.0	0.0	0.0
	—	−68.8	−0.2	3.6	−3.3
	—	−221	−370	−61.1	−133
	—	0.0	0.0	4.0	10.2
	—	0.0	0.0	−4.1	7.0
	—	−601	−270	104	−171
	—	0.0	0.0	−0.9	−0.3
	—	300	124	−138	115
	—	128	0.0	1.8	1.8
	—	205	98.7	−89.7	37.8
	—	−0.9	0.0	0.0	0.0
	—	0.0	0.0	−0.3	−1.0
Cash from operating activities
	411	330	200	121	156
	—	−204	−394	−135	−112
	—	126	−194	−13.9	44.1
	—	0.0	−7.1	−6.9	0.0
	—	19.3	63.3	−23.7	16.5
	—	107	−265	2.9	27.6
Cash from investing activities
	—	0.0	0.0	37.7	72.0
	—	−60.5	−155	0.4	0.6
	—	0.0	0.0	0.0	6.3
	—	0.0	0.0	0.0	0.0
	—	5.0	11.0	8.4	0.1
	—	−212	54.1	−13.0	0.0
	—	−268	−89.7	−41.9	−77.6
Cash from financing activities
	—	82.8	588	62.7	14.4
	—	2.6	0.0	0.0	0.0
	—	55.4	56.2	35.3	66.8
	—	36.0	41.2	10.6	10.7
	—	32.6	0.0	20.0	10.5
	—	6.5	0.0	5.5	0.0
	—	−0.3	0.0	0.0	0.0
	—	65.4	603	61.9	59.9
	—	−95.4	249	22.8	9.9
	—	−95.4	249	22.8	9.9
	—	—	—	33.1	10.2
Reference items
	458	357	210	146	175
	14.4%	15.7%	8.5%	10.6%	10.7%
	107	107	−265	−34.8	−44.4
	—	65.0	—	−19.5	—
	₹7.81	₹7.81	−₹19.30	−₹2.54	−₹3.23
	28.47×	—	—	—	—
	—	0.53×	−1.67×	0.03×	0.24×
	—	19.3	63.3	−23.7	16.5
	—	32.6	—	20.0	10.5

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From the company's filings with NSE and BSE (Ind-AS), consolidated. For information only, not investment advice.

alphave

REFEX₹222.30

Refex Industries Ltd.

· Chemicals

₹ CrorePeersRCF RALLIS RAIN PRIVISCL SHARDACROP NFL STYRENIX NEOGENMcap ₹3,050 Cr

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In ₹ Crore except Per Share 12 Months Ending	FY23 31/03/2023	FY24 31/03/2024	FY25 31/03/2025	FY26 31/03/2026	Last 12M 30/09/2026
Adjustments to Reconcile Profit — Non-cash Items
+ Depreciation & Amortisation	6.9	13.5	32.6	59.9	—
+ Impairment Loss / (Reversal)	0.0	0.1	0.0	0.0	—
+ Finance Costs	19.4	29.4	27.7	46.1	—
+ Interest Income	-7.6	0.0	0.0	-10.9	—
+ Fair Value (Gains) / Losses	0.0	0.0	-19.9	0.0	—
+ Share-based Payments	0.2	0.2	0.8	1.4	—
+ Unrealised FX (Gain) / Loss	0.0	0.0	-1.0	0.0	—
+ Other Non-cash Items	5.0	2.1	-18.1	10.9	—
+ Other Reconciling Items	0.0	0.0	0.0	-53.0	—
Changes in Working Capital
+ Inventories	-3.3	3.6	-0.2	-68.8	—
+ Trade Receivables — Current	-133.1	-61.1	-369.6	-221.3	—
+ Other Financial Assets — Current	10.2	4.0	0.0	0.0	—
+ Other Financial Assets — Non-current	7.0	-4.1	0.0	0.0	—
+ Other Current Assets	-170.6	104.3	-269.8	-600.8	—
+ Other Non-current Assets	-0.3	-0.9	0.0	0.0	—
+ Trade Payables — Current	115.3	-138.3	124.5	300.3	—
+ Other Financial Liabilities — Current	1.8	1.8	0.0	128.3	—
+ Other Current Liabilities	37.8	-89.7	98.7	204.6	—
+ Provisions — Current	0.0	0.0	0.0	-0.9	—
+ Provisions — Non-current	-1.0	-0.3	0.0	0.0	—
Cash from Operating Activities
Profit Before Tax (per I/S)	156.4	121.3	199.9	330.4	410.6
+ Total Adjustments (incl. Working Capital)	-112.3	-135.3	-394.3	-204.0	—
Cash from Operations (pre-tax)	44.1	-13.9	-194.4	126.4	—
+ Interest Received — Operating	0.0	-6.9	-7.1	0.0	—
+ Income Taxes Paid	16.5	-23.7	63.3	19.3	—
Cash from Operating Activities	27.6	2.9	-264.8	107.1	—
Cash from Investing Activities
+ Acq of Fixed Assets (Capex)	72.0	37.7	0.0	0.0	—
+ Disp of Fixed Assets	0.6	0.4	-154.8	-60.5	—
+ Acq of Other Long-term Assets	6.3	0.0	0.0	0.0	—
+ Loans & Advances Made	0.0	0.0	0.0	0.0	—
+ Interest Received — Investing	0.1	8.4	11.0	5.0	—
+ Other Inflows / (Outflows) — Investing	0.0	-13.0	54.1	-212.4	—
Cash from Investing Activities	-77.6	-41.9	-89.7	-267.9	—
Cash from Financing Activities
+ Proceeds from Issue of Shares	14.4	62.7	588.0	82.8	—
+ Proceeds — Change in Ownership of Subsidiaries	0.0	0.0	0.0	2.6	—
+ Proceeds from Borrowings	66.8	35.3	56.2	55.4	—
+ Payment of Lease Liabilities	10.7	10.6	41.2	36.0	—
+ Interest Paid	10.5	20.0	0.0	32.6	—
+ Dividends Paid	0.0	5.5	0.0	6.5	—
+ Other Inflows / (Outflows) — Financing	0.0	0.0	0.0	-0.3	—
Cash from Financing Activities	59.9	61.9	603.1	65.4	—
Net Changes in Cash (pre-FX)	9.9	22.8	248.5	-95.4	—
Net Changes in Cash	9.9	22.8	248.5	-95.4	—
Closing Cash	10.2	33.1	—	—	—
Reference Items
EBITDA	174.6	146.1	209.8	357.2	458.2
EBITDA Margin %	10.72	10.57	8.50	15.69	14.37
Free Cash Flow (CFO − Capex)	-44.4	-34.8	-264.8	107.1	107.1
Free Cash Flow to Equity	—	-19.5	—	65.0	—
Free Cash Flow per Basic Share	-3.23	-2.54	-19.30	7.81	7.81
Price to Free Cash Flow	—	—	—	—	28.47
Cash Flow to Net Income	0.24	0.03	-1.67	0.53	—
Cash Paid for Taxes	16.5	-23.7	63.3	19.3	—
Cash Paid for Interest	10.5	20.0	—	32.6	—

As filed, sign as filed: a payment tagged as a positive magnitude in the filing stays positive here, so read the label, not the sign. A line appears only when the company tagged that concept in at least one period shown — depth follows the filer, so a thin statement means a thin filing. Total Adjustments is the filer's own grand total of the reconciliation and spans BOTH the non-cash items and the working-capital block; Profit Before Tax plus it equals Cash from Operations (pre-tax). It can be reported when its components are not, so it is never a sum of the rows above it. No consensus estimates → no Est columns. Click any row to chart it.

« ‹ › »Latest: FY26 · ConsolidatedFA Financial Analysis · alphave

Data & compliance. Descriptive financial information from official NSE/BSE filings — for information and education only, not investment advice, a recommendation, or a valuation. Standalone = parent entity; consolidated includes subsidiaries. Historical multiples pair each fiscal year's filed figures with that FY-end market close; the Current column uses the last close with the latest filed annuals. Figures are cross-verified via accounting identities and NSE×BSE agreement — XBRL cross-verified ✓ 95%.