This Indian Stock Has Given 11,000% Returns In 10 Years

Shares of refrigerant gas manufacturer Refex Industries have given returns of 11,000% in the past 10 years. The stock has skyrocketed from around Rs 1.37 per share 10 years ago to Rs 151.8 per share on Friday. This means that if someone invested around Rs 1 lakh in the stock 10 years ago and stayed invested, the amount would have grown to more than Rs 1 crore now. 

Refex Industries, formerly known as Refex Refrigerant Ltd, was founded in 2002. It was engaged in the business of refilling non-ozone depleting refrigerant gases. popularly known as hydrofluorocarbons or HFCs, which are used in air conditioners, refrigerators and refrigerating equipment. 

Refex Industries launched its public offer in July 2007 and got listed on the BSE. The total turnover of the company in the year ended March 31, 2007, was Rs 51.41 crore. 

The company ventured into fly ash and coal handling services for thermal power plants in 2018. The stock price then grew around 21 times to Rs 30 per share. 

The small-cap company diversified into the power-trading business in 2022 and set up a green mobility business in 2023. 

Diversification of businesses to enter into new fields have paid off for the company which has given returns of around 11,000% in the past 10 years. The company has also emerged as a leading supplier of environment-friendly hydrofluorocarbons or HFC refrigerant gases in India.

Refex Industries currently operates refilling facilities in Chennai and Tamil Nadu and has warehouses in Delhi and Mumbai.

It reported a total income of Rs 345.7 crore for the March quarter of 2023-24 while income for the full fiscal was Rs 1,388.84 crore. Its EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortisation) for the last quarter of FY24 was Rs 43.5 crore with an EBITDA margin of 12.89%. The annual EBITDA amounted to Rs 148.75 crores with a margin of 10.85%. 

The quarterly Profit After Tax was at Rs 35.76 crore in the March quarter while for the full fiscal year, The PAT reached Rs 100.95 crore with a PAT margin of 7.27%. Promoters of Refex Industries hold a majority 55.3% stake while public shareholders own 44.7%.