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F-14/15, Orbit Mall, Civil Lines, Jaipur-302006 support@thetaxheaven.comRefex Industries Ltd is a diversified Indian company with a strong presence in environmental solutions, industrial gases, and green mobility initiatives. Over the years, the company has built a niche position through its coal ash handling, refrigerant gas manufacturing, solar power, and electric mobility solutions, aligning well with India’s sustainability and infrastructure growth themes.
With a stable balance sheet, improving operational scale, and rising focus on clean and efficient industrial services, Refex Industries Ltd continues to attract long-term investor interest. In this article, we analyze Refex Industries Ltd share price targets from 2026 to 2030 based on current market data, business fundamentals, sector outlook, and long-term growth drivers.
Open: ₹271.50
Previous Close: ₹271.50
Day’s High: ₹271.70
Day’s Low: ₹266.05
VWAP: ₹268.27
52-Week High: ₹534.00
52-Week Low: ₹215.10
All-Time High: ₹600.00
All-Time Low: ₹0.43
Market Capitalization: ₹3,666 Cr
Volume: 4,29,493
Value (Lacs): 1,148.46
20D Avg Volume: 65,44,167
20D Avg Delivery (%): 10.23%
Face Value: ₹2
Book Value Per Share: ₹92.07
Beta: 1.07
UC Limit: ₹325.80
LC Limit: ₹217.20
Refex Industries Ltd operates across multiple industrial and environmental segments, including:
Ash handling and coal management solutions
Refrigerant gases and specialty chemicals
Solar power generation
Electric vehicle (EV) fleet and green mobility services
The company benefits from India’s increasing focus on infrastructure development, power sector efficiency, and environmental compliance. Its diversified operations help reduce dependency on a single revenue stream, offering relative stability across economic cycles.
Strong presence in environmental and industrial service solutions
Alignment with India’s renewable energy and green mobility push
Diversified revenue streams across power, chemicals, and logistics
Long-standing relationships with public and private sector clients
Scalable business model with scope for margin improvement
Operational revenues have shown resilience, supported by long-term contracts and steady demand from core industrial clients. While the stock has corrected from its highs, analysts view this as a consolidation phase rather than a structural decline. Expansion into green mobility and renewable-linked services could act as a medium- to long-term catalyst.
Promoters: 55.92%
Retail & Others: 42.35%
Foreign Institutions: 1.60%
Mutual Funds: 0.13%
Other Domestic Institutions: 0.01%
A strong promoter holding reflects confidence in the company’s long-term strategy, while moderate retail participation indicates growing public interest.
| Year | Minimum Target (₹) | Maximum Target (₹) |
|---|---|---|
| 2026 | 320 | 360 |
| 2027 | 365 | 410 |
| 2028 | 415 | 465 |
| 2029 | 470 | 525 |
| 2030 | 530 | 600 |
These projections consider business diversification, sector growth, execution capability, and overall market sentiment.
By 2026, Refex Industries Ltd may benefit from improved capacity utilization and stable industrial demand.
Growth Drivers
Stable contracts in ash handling and industrial services
Gradual scaling of renewable and green initiatives
Improved operating efficiency
Investment View
Suitable for medium-term investors seeking steady returns with moderate volatility.
2027 could mark stronger earnings visibility as sustainability-focused projects gain traction.
Growth Drivers
Expansion in environmental compliance services
Better contribution from solar and EV-related segments
Margin improvement through operational optimization
Investment View
Positive outlook for investors focusing on industrial and green-transition themes.
By 2028, the company’s diversified portfolio may start delivering more consistent profitability.
Growth Drivers
Long-term industrial demand from power and infrastructure sectors
Increased adoption of clean energy and green logistics
Strong balance sheet supporting expansion
Investment View
Attractive for long-term investors looking for sustainable business models.
In 2029, Refex Industries Ltd could see valuation re-rating if earnings growth remains consistent.
Growth Drivers
Higher order inflows from public sector and large corporates
Improved return ratios driven by scale benefits
Strong promoter backing and execution track record
Investment View
Favors investors seeking stability with gradual wealth creation.
By 2030, Refex Industries Ltd may emerge as a well-established player in India’s environmental and industrial solutions space.
Growth Drivers
Structural growth in sustainability-linked services
Stable cash flows and improved margin profile
Long-term contracts ensuring revenue visibility
Investment View
Ideal for long-term investors with patience and a focus on infrastructure-led growth.
Refex Industries Ltd offers a blend of industrial stability and sustainability-driven growth. While the stock can be volatile in the short term, its diversified business model and strong promoter holding provide long-term confidence.
Exposure to infrastructure, power, and environmental services
Alignment with India’s green energy and sustainability goals
Strong promoter commitment
Reasonable valuation compared to long-term potential
Consistent demand from core industrial sectors
Dependence on industrial and power sector cycles
Execution risks in newer business segments
Regulatory changes impacting environmental services
Market-wide volatility affecting mid-cap stocks
Monitoring quarterly results and sector developments is advisable.
Refex Industries Ltd stands out as a diversified industrial company aligned with India’s long-term sustainability and infrastructure growth story. Despite past volatility, the company’s fundamentals, promoter strength, and expanding green initiatives support a positive long-term outlook.
Based on current trends and growth assumptions, Refex Industries Ltd share price could potentially reach ₹530 to ₹600 by 2030. For investors seeking exposure to industrial services with an environmental edge, Refex Industries Ltd presents a promising long-term opportunity.
1. What is the current share price of Refex Industries Ltd?
The share price is around the levels indicated in the latest market data and changes with market movements.
2. What is the Refex Industries Ltd share price target for 2026?
The estimated range for 2026 is ₹320 to ₹360.
3. Is Refex Industries Ltd a good long-term investment?
It can be suitable for long-term investors who believe in infrastructure and sustainability-led growth.
4. What is the share price target for 2030?
The projected target range for 2030 is ₹530 to ₹600.
5. What factors influence Refex Industries Ltd share price the most?
Industrial demand, execution of green projects, margin performance, regulatory environment, and overall market sentiment.
Disclaimer: This article is for educational purposes only and does not constitute investment advice. Please consult a qualified financial advisor before making any investment decisions.
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