Refex Industries enterprise value

Share price at each year-end

Tap a line for its trend	Currentlast 12M	FY26Mar 2026	FY25Mar 2025	FY24Mar 2024	FY23Mar 2023	FY22 and earlierAlpha Plus


3,050	—	—	—	—	FY22 and earlierEvery year the company has filed comes with Alpha Plus.
322	184	282	33.1	10.2
2.1	4.4	−0.6	−0.9	0.0
162	162	172	117	81.8
2,892	—	—	—	—
−160	−21.6	−110	84.1	71.6
₹210.77	—	—	—	—

1,768	1,671	1,384	582	396
9.2%	9.7%	12.4%	20.1%	20.7%
0.06×	—	—	—	—

0.91×	—	—	—	—
6.31×	—	—	—	—
6.64×	—	—	—	—
26.99×	—	—	—	—
3,188	2,277	2,468	1,383	1,629
458	357	210	146	175
436	337	177	133	168
—	107	−265	2.9	27.6
107	107	−265	−34.8	−44.4
—	98.5	−271	−39.5	−47.1
—	0.0	0.0	37.7	72.0

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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

HighlightsEnterprise Value Multiples Per ShareAnnuals · FY-end closes

In ₹ Crore except Per Share 12 Months Ending	FY23 31/03/2023	FY24 31/03/2024	FY25 31/03/2025	FY26 31/03/2026	Current/LTM TTM · last close
Market Capitalization	—	—	—	—	3,049.9
- Cash, Equiv & ST Investments	10.2	33.1	281.6	183.7	322.4
+ Minority Interest	0.0	-0.9	-0.6	4.4	2.1
+ Total Debt	81.8	117.2	171.7	162.1	162.1
Enterprise Value	—	—	—	—	2,891.7
Net Debt (memo)	71.6	84.1	-109.9	-21.6	-160.3
EV per Share	—	—	—	—	210.77

Total Capital	396.2	581.9	1,383.9	1,670.7	1,768.1
Total Debt/Total Capital	20.65	20.14	12.41	9.70	9.17
Total Debt/EV	—	—	—	—	0.06

EV/Sales	—	—	—	—	0.91
EV/EBITDA	—	—	—	—	6.31
EV/EBIT	—	—	—	—	6.64
EV/Free Cash Flow	—	—	—	—	26.99
Reference Items — Trailing FY Values
Sales	1,629.1	1,382.9	2,467.7	2,276.7	3,187.8
EBITDA	174.6	146.1	209.8	357.2	458.2
EBIT	167.8	132.6	177.2	337.2	435.6
Operating Cash Flow	27.6	2.9	-264.8	107.1	—
Free Cash Flow	-44.4	-34.8	-264.8	107.1	107.1
FCFF (free cash flow to the firm)	-47.1	-39.5	-270.6	98.5	—
Capital Expenditure	72.0	37.7	0.0	0.0	—

Market Cap/EV/multiples pair each (split/bonus-adjusted) FY-end close with the latest filed share count; Current column uses the last close. Market Capitalization is a market-level figure — identical across Consolidated/Standalone (the accounting rows below differ). No consensus estimates → no Est columns. Click any row to chart it.

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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%.