Refex Industries Limited
Financial trend (100/100) does the heavy lifting; valuation (5/100) is the drag.
ExpensiveOvervaluedStocksWizard rates Refex Industries Limited a Hold, scoring 45/100 on our blended model. At ₹302.8 it trades above our blended DCF and relative-multiples fair value of ₹194.95, about 36% downside to that estimate — we read it as overvalued by 36%. On 18.8x trailing earnings it sits pricier than the Energy median of about 11.0x. The price is about 30% below its 52-week high of ₹431 and 61% above the low of ₹188.51. Financial health scores 87/100, with a Piotroski F-score of 2/9. It clears 6 of 12 investability checks, with durability 69, valuation 10 and momentum 53 on our 0–100 scales.
Analysis by Ankit Sharma · StocksWizard's own estimates from end-of-day public data — see how we calculate them. For information only, not investment advice.
With a 20% margin of safety, our buy-below price is ₹155.96.
1-year price
EOD · 2026-07-3152-week range
-29.74% from the 52-week high.
Price above both moving averages reads as an intact uptrend; below both, the trend is against you.
Verdict pillars
Hold45Piotroski F-score 2/9 — quality of earnings & balance sheet.
Our scores
Durability rewards strong, low-debt, profitable businesses; Valuation rewards stocks cheap vs their sector; Momentum rewards strong price trends.
Investability checklist
- Pass: ROE above 15%: 17.8%
- Pass: Low debt (D/E < 0.5): 0.15x
- Fail: Positive free cash flow
- Pass: Revenue growth > 10%: 49%
- Pass: Earnings growing: 88%
- Fail: Net margin ≥ 10%: 8.9%
- Pass: Current ratio > 1.5: 2.04
- Fail: Below our fair value
- Fail: Margin of safety ≥ 20%
- Pass: Above 200-day average
- Fail: Above 50-day average
- No data: Positive 1-year return
- No data: Altman Z in safe zone
- Fail: Piotroski ≥ 7: 2/9
Shareholding
- Promoter56.8%
- Institutions0.5%
- Public & other42.7%
Promoter holding via insider stake; institutional via reported holdings.
Key fundamentals
Bull case vs bear case
Bull case
Strengths
- Lightly leveraged balance sheet.
Opportunities
- Earnings growing (88% YoY).
- Revenue growing (49% YoY).
Bear case
Weaknesses
- Weak Piotroski score (2/9).
Threats
- Rich valuation versus sector peers.
- High volatility (beta 1.73).
- Trades ~36% above our estimated fair value.
About Refex Industries Limited
Refex Industries Limited operates in fly ash handling and disposal across India. The company supplies hydrofluorocarbon refills for air conditioning and refrigeration systems, generates solar power, trades coal, and provides coal yard management and power trading services.
Refex Industries Limited — frequently asked questions
Is Refex Industries Limited a buy, hold or sell?
StocksWizard currently rates Refex Industries Limited (REFEX) a Hold, based on a blended score of 45/100 across valuation, quality, momentum and price trend. This is our own model-based view, not investment advice.
What is Refex Industries Limited's fair value?
Our blended DCF and relative-valuation model estimates Refex Industries Limited's fair value at about ₹194.95, versus a current price of ₹302.8 — roughly 36% downside. On that basis the stock looks overvalued by 36%.
Is Refex Industries Limited financially healthy?
Refex Industries Limited scores 87/100 on our financial-health model, with a Piotroski F-score of 2/9.
How has Refex Industries Limited's share price performed?
Refex Industries Limited is up 19% over three months, and last traded at ₹302.8. Past performance doesn't predict future returns.
More in Energy
View allOur verdict, fair value, financial-health and checklist are StocksWizard's own estimates, computed from public end-of-day data using standard models (DCF, relative valuation, Altman Z, Piotroski). For information only — not investment advice or a recommendation. Verify independently before investing.