Mumbai/Chenna/Hydrabad Riefex Industries Limited Reports Their Financial Results for Q2 and H1 Ended September 30, 2022; H1 Revenue Numbers Have Surpassed Overall FY22 Revenue Numbers

Particulars (Rs. Cr) Q2FY23 Q2FY22 H1FY23 H1FY22
Income from Operations 353.43 crs 93.95 crs 618.62 crs 177.32 crs
EBITDA 36.91 crs 12.20 crs 58.82 crs 23.83 crs
Net Debt to EBITDA 2.65 times 0.24 times

Q2FY23 Highlights

  • Revenue increased 33.28% QoQ from Rs. 265.19 CRS to Rs. 353.43 crs, 276.20% YoY from Rs. 93.94 crs in Q2FY22 to Rs. 353.43 CRS in Q2FY23
  • Net Debt/EBITDA stood at 2.65 times.

We have seen a healthy growth of revenue as well as improved profitability in Q2 FY23. Increased orders during the period have brought in increased revenue in segments such as the coal and fly ash handling segment as well as refrigerant gas segment.

Commenting on the quarter gone by, Anil Jain, Managing Director, Refex Industries Limited, said, “the results in the quarter have been healthy and we will continue to work hard in order to generate value for our stakeholders in the coming quarters as well as in line with our thrust towards ESG”.

Other important events in Q2:

  • Reflex celebrated its 20th anniversary.
  • ESOPs were granted to the employees
  • Awards:
    • Refex Group was named as a Gold Stevie award winner in the conglomerate’s category (medium size)
    • Anil Jain, MD, Refex announced as a bronze Stevie award winner for the ‘Best Entrepreneur of the Year in the conglomerates category (medium size)