Refex Industries Limited

NSEI:REFEX Stock Report

Market Cap: ₹48.3b

Refex Industries Management

Management criteria checks 2/4

We currently do not have sufficient information about the CEO.

Key information

T. Jain

Chief executive officer

₹11.7m

Total compensation

CEO salary percentage100.00%
CEO tenure20yrs
CEO ownershipn/a
Management average tenureless than a year
Board average tenure3.4yrs

Recent management updates

Recent updates

Analysis Article • Jun 02

Refex Industries (NSE:REFEX) Strong Profits May Be Masking Some Underlying Issues

The market for Refex Industries Limited's ( NSE:REFEX ) stock was strong after it released a healthy earnings report...
Analysis Article • May 31

Here's Why We Think Refex Industries (NSE:REFEX) Might Deserve Your Attention Today

For beginners, it can seem like a good idea (and an exciting prospect) to buy a company that tells a good story to...
Analysis Article • Dec 13

Is Refex Industries (NSE:REFEX) Using Too Much Debt?

Some say volatility, rather than debt, is the best way to think about risk as an investor, but Warren Buffett famously...
Analysis Article • Dec 13

Why Investors Shouldn't Be Surprised By Refex Industries Limited's (NSE:REFEX) 29% Share Price Plunge

The Refex Industries Limited ( NSE:REFEX ) share price has fared very poorly over the last month, falling by a...
Analysis Article • Nov 13

Statutory Earnings May Not Be The Best Way To Understand Refex Industries' (NSE:REFEX) True Position

Investors were disappointed with Refex Industries Limited's ( NSE:REFEX ) recent earnings release. We did some analysis...
Analysis Article • Jul 23

Is Refex Industries (NSE:REFEX) Using Too Much Debt?

Legendary fund manager Li Lu (who Charlie Munger backed) once said, 'The biggest investment risk is not the volatility...
Analysis Article • May 28

The Returns On Capital At Refex Industries (NSE:REFEX) Don't Inspire Confidence

If we want to find a potential multi-bagger, often there are underlying trends that can provide clues. Ideally, a...
Analysis Article • May 01

Refex Industries (NSE:REFEX) Is Posting Solid Earnings, But It Is Not All Good News

Refex Industries Limited's ( NSE:REFEX ) solid earnings report last week was underwhelming to investors. We did some...
Analysis Article • Apr 19

Refex Industries Limited's (NSE:REFEX) Popularity With Investors Is Clear

With a price-to-earnings (or "P/E") ratio of 40.6x Refex Industries Limited ( NSE:REFEX ) may be sending very bearish...
Analysis Article • Jul 02

Investors Still Aren't Entirely Convinced By Refex Industries Limited's (NSE:REFEX) Earnings Despite 38% Price Jump

The Refex Industries Limited ( NSE:REFEX ) share price has done very well over the last month, posting an excellent...
Analysis Article • Jun 01

Refex Industries' (NSE:REFEX) Shareholders Have More To Worry About Than Only Soft Earnings

The market wasn't impressed with the soft earnings from Refex Industries Limited ( NSE:REFEX ) recently. We did some...
Analysis Article • Apr 27

Investors Still Aren't Entirely Convinced By Refex Industries Limited's (NSE:REFEX) Earnings Despite 26% Price Jump

Refex Industries Limited ( NSE:REFEX ) shareholders would be excited to see that the share price has had a great month...
Analysis Article • Aug 17

Refex Industries (NSE:REFEX) Has A Pretty Healthy Balance Sheet

Legendary fund manager Li Lu (who Charlie Munger backed) once said, 'The biggest investment risk is not the volatility...
Analysis Article • Jul 11

Is Now The Time To Put Refex Industries (NSE:REFEX) On Your Watchlist?

The excitement of investing in a company that can reverse its fortunes is a big draw for some speculators, so even...
Analysis Article • Dec 26

Do Refex Industries' (NSE:REFEX) Earnings Warrant Your Attention?

The excitement of investing in a company that can reverse its fortunes is a big draw for some speculators, so even...
Analysis Article • Aug 03

Does Refex Industries (NSE:REFEX) Have A Healthy Balance Sheet?

Legendary fund manager Li Lu (who Charlie Munger backed) once said, 'The biggest investment risk is not the volatility...
Analysis Article • Jun 21

Refex Industries (NSE:REFEX) Is Achieving High Returns On Its Capital

What are the early trends we should look for to identify a stock that could multiply in value over the long term...

CEO Compensation Analysis

How has T. Jain's remuneration changed compared to Refex Industries's earnings?
DateTotal CompensationSalaryCompany Earnings
Mar 31 2026n/an/a

₹2b

Dec 31 2025n/an/a

₹2b

Sep 30 2025n/an/a

₹2b

Jun 30 2025n/an/a

₹2b

Mar 31 2025₹12m₹12m

₹2b

Dec 31 2024n/an/a

₹1b

Sep 30 2024n/an/a

₹1b

Jun 30 2024n/an/a

₹1b

Mar 31 2024₹8m₹8m

₹939m

Dec 31 2023n/an/a

₹1b

Sep 30 2023n/an/a

₹1b

Jun 30 2023n/an/a

₹1b

Mar 31 2023₹8m₹8m

₹1b

Dec 31 2022n/an/a

₹894m

Sep 30 2022n/an/a

₹701m

Jun 30 2022n/an/a

₹521m

Mar 31 2022₹8m₹8m

₹454m

Dec 31 2021n/an/a

₹290m

Sep 30 2021n/an/a

₹342m

Jun 30 2021n/an/a

₹427m

Mar 31 2021₹8m₹8m

₹409m

Dec 31 2020n/an/a

₹287m

Sep 30 2020n/an/a

₹348m

Jun 30 2020n/an/a

₹297m

Mar 31 2020₹4m₹4m

₹331m

Compensation vs Market: T.'s total compensation ($USD122.69K) is below average for companies of similar size in the Indian market ($USD252.00K).

Compensation vs Earnings: T.'s compensation has increased by more than 20% in the past year.

CEO

T. Jain (50 yo)

20yrs
Tenure
₹11,700,000
Compensation

Mr. T. Anil Jain has been the Managing Director of Refex Industries Limited (Former Name: Refex Refrigerants Limited) since July 01, 2006. Mr. Jain has extensive experience in Air-conditioner Products and...

Leadership Team

NamePositionTenureCompensationOwnership
T. Jain
Executive Chairman & MD20yrs₹11.70mno data
Dinesh Agarwal
CFO & Whole-Time Director2.1yrsno datano data
Uthayakumar Lalitha
President of Refrigerant Gas Business2.2yrs₹850.59kno data
Sahil Singla
President of Corporate Financeless than a yearno datano data
Srivaths Varadharajan
Group Chief Technology Officerless than a yearno datano data
Suhail Shariff
Vice President of Administration & Facilityno datano datano data
Gautam Jain
Head of Investor Relationless than a yearno datano data
Ankit Poddar
Company Secretary & Compliance Officer2.1yrsno datano data
Harini Sriraman
VP & Group General Counselno datano datano data
Srividya Nirmalkumar
Vice President of Corporate Communicationsno datano datano data
Purvesh Kapadia
Group Chief Human Resource Officerless than a yearno datano data
T. Jain
Business Head of Ash & Coal Handlingless than a year₹900.00kno data
0.9yrs
Average Tenure
49yo
Average Age

Experienced Management: REFEX's management team is not considered experienced ( 0.9 years average tenure), which suggests a new team.

Board Members

NamePositionTenureCompensationOwnership
T. Jain
Executive Chairman & MD23.8yrs₹11.70mno data
Dinesh Agarwal
CFO & Whole-Time Director10yrsno datano data
T. Dugar
Independent Director5.6yrs₹195.00kno data
Susmitha Siripurapu
Non-Executive Director3.4yrs₹115.00kno data
Sivaramakrishnan Vasudevan
Independent Non-Executive Director3.3yrs₹205.00kno data
Latha Venkatesh
Independent Non-Executive Director2.6yrs₹115.00kno data
Vineet Kothari
Independent & Non-Executive Director1.1yrsno data0.00029%
₹ 139.9k
3.4yrs
Average Tenure
51.5yo
Average Age

Experienced Board: REFEX's board of directors are considered experienced (3.4 years average tenure).

Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/07/06 10:29
End of Day Share Price 2026/07/06 00:00
Earnings2026/03/31
Annual Earnings2026/03/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Refex Industries Limited is covered by 0 analysts. 0 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.