The order involves the transportation of ash to construction sites of road projects undertaken by the National Highways Authority of India (NHAI) and other Central and State government road construction departments, authorities and Pradhan Mantri Gram Sadak Yojana (PMGSY) projects.

The contract is to be executed over a period of 12 months. The company clarified that neither its promoter nor promoter group entities have any interest in the awarding entity, and the order does not constitute a related-party transaction.

Chennai-based Refex Industries has built a portfolio spanning ash and coal handling, wind energy, and green mobility solutions. The company reported consolidated net profit surged 87.96% to Rs 90.82 crore on a 57.14% rise in revenue from operations to Rs 934.17 crore in Q4 FY26 over Q4 FY25.

Shares of Refex Industries fell 1.12% to close at Rs 347.70 on the BSE.

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