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Refex Peer Comparison

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NSE: REFEX | BSE: 532884

₹271.30

up-down-arrow ₹6.05 (2.28%)

As on 01-Oct-2026IST

Market cap

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₹3,725 Cr

Revenue (TTM)

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₹2,853 Cr

P/E Ratio

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15.1

P/B Ratio

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2.6

Div. Yield

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0.6 %

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Refex Ellenbarrie Industrial Gases Stallion India Fluorochemicals Hilltone Software & Gases National Oxygen
Market cap (₹ Cr)
 3,725 4,820 2,698 51 28
Revenue (₹ Cr)
 2,853 357 442 14 18
Net Profit (₹ Cr)
 247.90 120.65 52.04 -0.78 1.70
Net Margin (%)
 9.97 28.94 11.65 -5.40 8.78
RoE (%)
 20.63 12.71 10.42 -4.11 --
Price to Earnings
 15.14 39.95 51.85 -- 16.30
Price-To-Book
 2.58 4.87 3.85 2.25 -3.42

Income Statement (₹ Cr)

Refex Ellenbarrie Industrial Gases Stallion India Fluorochemicals Hilltone Software & Gases National Oxygen
Operating Revenue arrow
2,276.74 341.58 377.45 7.52 22.96
Total Income arrow
2,302.05 393.25 379.47 8.24 23.72
Total Expenditure arrow
1,915.06 226.56 329.73 7.73 26.28
EBITDA arrow
361.68 115.03 47.72 -0.21 -3.32
Depreciation arrow
20.00 21.48 1.17 0.16 2.31
EBIT arrow
341.68 93.54 46.55 -0.37 -5.63
Interest arrow
36.56 9.91 6.15 0.11 1.41
Other Income arrow
25.32 51.66 2.02 0.71 0.76
Exceptional Items arrow
-- -- -- -- 8.12
Profit before Tax arrow
330.43 135.29 42.43 0.24 1.84
Provision for Tax arrow
88.05 30.89 10.10 0.39 --
Profit after Tax arrow
242.38 104.40 32.33 -0.16 1.84

Liabilities (₹ Cr)

Refex Ellenbarrie Industrial Gases Stallion India Fluorochemicals Hilltone Software & Gases National Oxygen
Shareholder's Funds arrow
1,504.15 977.14 300.84 13.66 -6.11
Minority Interest arrow
4.43 -- -- -- --
Non-Current Liabilities arrow
88.98 181.84 -2.48 2.14 24.26
Current Liabilities arrow
1,117.09 206.28 38.88 1.81 10.11
Total Liabilities arrow
2,842.59 1,365.27 343.70 17.61 28.26

Assets (₹ Cr)

Refex Ellenbarrie Industrial Gases Stallion India Fluorochemicals Hilltone Software & Gases National Oxygen
Non-Current Assets arrow
302.99 1,046.75 23.86 13.60 23.84
Current Assets arrow
2,326.72 318.52 313.38 4.01 4.42
Total Assets arrow
2,842.59 1,365.27 343.70 17.61 28.26
Total Debt* arrow
162.11 180.11 2.43 0.40 28.64
Net Current Assets arrow
1,209.63 112.23 274.50 2.20 -5.68
Contingent Liabilities arrow
567.01 7.64 6.45 -- 7.55

Cashflow (₹ Cr)

Refex Ellenbarrie Industrial Gases Stallion India Fluorochemicals Hilltone Software & Gases National Oxygen
Cash From Operating Activities arrow
107.14 132.55 -13.43 0.76 -1.09
Cash Flow from Investing Activities arrow
-267.90 -436.38 -19.68 0.58 4.55
Cash from Financing Activities arrow
65.35 304.88 75.91 -0.23 -3.47
Net Cash Inflow / Outflow arrow
-95.41 1.04 42.80 1.11 -0.01

Ratios

Profitability Ratios

 Refex Ellenbarrie Industrial Gases Stallion India Fluorochemicals Hilltone Software & Gases National Oxygen
ROCE (%) arrow
24.06 15.70 19.67 2.42 14.39
ROE (%) arrow
19.95 14.66 15.17 -1.14 0.00
ROA (%) arrow
10.47 9.25 11.97 -0.94 6.19
EBIT Margin (%) arrow
17.00 48.80 13.18 6.73 -11.15
Net Margin (%) arrow
10.53 26.55 8.52 -1.91 7.74
Cash Profit Margin (%) arrow
11.52 36.85 8.87 0.04 18.07

Growth Ratios

 Refex Ellenbarrie Industrial Gases Stallion India Fluorochemicals Hilltone Software & Gases National Oxygen
Revenue Growth (%) arrow
0.77 9.31 61.83 9.93 -43.42
EBIT Growth (%) arrow
51.13 14.34 85.25 -44.55 -17.00
Net Profit Growth (%) arrow
34.88 25.35 108.91 -131.00 126.23
EPS Growth (%) arrow
21.11 16.45 61.88 -131.00 126.23
Book Value Growth (%) arrow
29.71 102.90 140.17 -1.14 23.77

Valuation Ratios

 Refex Ellenbarrie Industrial Gases Stallion India Fluorochemicals Hilltone Software & Gases National Oxygen
Price / Earnings arrow
12.76 26.63 16.61 0.00 15.65
Price / Book Value arrow
1.90 2.91 1.79 2.53 -4.71
Dividend Yield (%) arrow
0.79 0.00 0.00 0.00 0.00
EV/EBITDA arrow
6.12 17.33 9.34 65.95 -22.20
Market Cap (₹ Cr) arrow
2,600.03 2,779.93 537.11 34.60 28.75

Solvency Ratios

 Refex Ellenbarrie Industrial Gases Stallion India Fluorochemicals Hilltone Software & Gases National Oxygen
Debt to Equity arrow
0.12 0.19 0.01 0.03 -4.69
Short term debt to equity ratio arrow
0.08 0.09 0.01 0.01 -0.88
Current Ratio arrow
2.08 1.54 8.06 2.22 0.44
Quick Ratio arrow
2.01 1.48 5.47 1.89 0.38
Interest Coverage arrow
10.04 14.65 7.90 3.18 2.30

Operating Efficiency Ratios

 Refex Ellenbarrie Industrial Gases Stallion India Fluorochemicals Hilltone Software & Gases National Oxygen
Debtors to sales (%) arrow
38.93 18.53 27.96 14.58 7.75
Asset Turnover arrow
0.98 0.30 1.40 0.45 0.77
Receivable days arrow
125.29 77.95 85.38 63.54 40.08
Inventory Days arrow
6.69 15.15 92.73 24.35 12.36
Payable days arrow
57.73 132.28 15.91 59.02 0.00
Cash Conversion Cycle arrow
74.26 -39.18 162.20 28.87 52.44
*TTM (Trailing Twelve Months) data based on income statement of last 4 quarters and interim half yearly balance sheet.
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