Refex Industries is making headlines again. On March 5, 2025, the company’s stock hit a 5% upper circuit on the BSE. This surge followed news of its electric vehicle unit’s big plans. The excitement stems from a strategic partnership to roll out more EVs.
Stock Hits New Heights
The market responded fast. Refex Industries’ shares climbed to Rs 592.30 on the BSE. That’s a 5% jump from the previous close. Trading volume spiked too—over 1.42 lakh shares changed hands by mid-morning. The stock rally reflects growing investor confidence.
- Stock Price: Rs 592.30 on March 5, 2025.
- Volume: 1.42 lakh shares traded on BSE.
- Market Cap: Rs 6,805 crore at the peak.
Partnership Fuels Growth
Refex Green Mobility, also called Refex eVeelz, is behind the push. They’ve teamed up with a major ride-hailing platform. The deal adds 1,000 electric four-wheelers to their fleet. Operations will expand in key cities—Chennai, Hyderabad, Bengaluru, and Mumbai. This builds on their existing network of over 1,000 EVs.
- Fleet Addition: 1,000 e4Ws.
- Cities Targeted: Chennai, Hyderabad, Bengaluru, Mumbai.
- Current Fleet: Over 1,000 EVs already active.
Anil Jain, Managing Director, Refex Industries, stated, “This partnership reaffirms our focus on sustainable mobility solutions and solidifies our leadership in the green transport business.” The partnership will enable greater fulfillment of enhanced demand for environmentally friendly transport.
Recent Financial Successes
Refex Industries are soaring high. Their Q3 FY25 close of December 2024 numbers were robust. Consolidated net profit soared 196.27% to Rs 50.04 crore. That’s up from Rs 16.89 crore in Q3 FY24. Revenue from operations hit Rs 717.12 crore—a 134.36% increase from Rs 305.98 crore the year before. These numbers underline the company’s growth trajectory.
- Net Profit: Rs 50.04 crore in Q3 FY25.
- Revenue: Rs 717.12 crore in Q3 FY25.
- Growth: Profit up 196.27%, revenue up 134.36%.
Building on Past Moves
This isn’t Refex’s first EV rodeo. In January 2025, Refex eVeelz took over 2,997 e4Ws from Gensol Engineering. That deal, worth Rs 315 crore, boosted their presence in Delhi NCR and Bengaluru. They’ve leased those vehicles to Blu-Smart Mobility. The latest expansion adds to this momentum.
Company Background
Refex Industries is based out of Chennai. They are over 22 years old in business. Their portfolio consists of ash and coal handling, refrigerant gases, power trading, and green mobility nowadays. The EV push comes through Refex Green Mobility, which is a subsidiary. The company is carving out a niche in the sustainability shift in India.
The fleet growth is a turning point moment. It’s riding India’s increasing EV wave. Ride-hailing demand is picking up in metro cities. Refex wants to be the trendsetter. With strong finances and healthy partnerships, they’re setting the stage for larger growth. The stock’s rise indicates the market’s wagering on their green tomorrow. Information on the ride-hailing partner is under wraps, but the effect’s already visible.
