Felix Industries Ltd(FELIX)

NSE: FELIX

₹ 177.85-2.25%refreshed 23 Oct, 03:30 pm ISTMarket cap: ₹ 306 crUpdated: 24 Oct 2026

About

Felix Industries Ltd works on environmental infrastructure. It builds, owns and operates wastewater, hazardous waste and waste oil processing plants in India and Oman, and is adding plastic and metal recycling. Consolidated revenue from operations was ₹102.21 crore in FY26, compared with ₹36.82 crore in FY25. Management plans to make recurring O&M, BOO and BOOT work the large majority of revenue over 4 - 5 years.^[1][2]

Business segments

Felix India revenue in FY26: about ₹40 - 45 crore from EPC and ₹34 - 35 crore from services/O&M.^[1]
Oman, which mainly processes waste oil, brought in about ₹20 crore in FY26.^[1]
O&M made up about ₹7-8 crore of consolidated revenue in Q3 FY26. The rest came from project/EPC work.^[3]
O&M was 35-40% of turnover in H1 FY26.^[4]

Installed capacity

Wastewater treatment installed capacity was 17 MLD+ as of FY26.^[1]
Hazardous waste processing capacity was 50 TPD as of FY26.^[1]
Waste oil processing capacity was 40 TPD as of FY26. The Oman plant was running at 30 TPD in Q3 FY26.^[1][3]
Plastic recycling throughput was about 300 TPM in Q4 FY26.^[1]
The Oman facility covers about 18,000 sq mt, with oil processing, incineration and wastewater treatment units (Q1 FY26).^[5]
A green hydrogen plant was commissioned for the company's own use, as reported in Q1 FY26. It runs on electricity generated from waste.^[5]

Contracts and order book

In July 2025 the company won a 10-year BOOT order worth ₹140.08 crore from an F&B company. It covers a 1,500 KLD ZLD system, a 1,500 KLD WTP and a 120 KLD STP, plus O&M.^[4]
A second F&B BOOT contract, won in Q1 FY26, runs for 7 years and is expected to bring in about INR22 crore a year in O&M revenue.^[5]
An open 5-year contract with Oman LNG, worth about ₹45-46 crore, began in Q3 FY26.^[3]
About ₹30-35 crore of capital was deployed in BOOT assets as of Q3 FY26.^[3]
Order book in Q1 FY26: EPC (standalone) about INR56 - 60 crore, operating revenue about INR35 crore, Oman INR20 - 22 crore.^[5]

Customers

The Oman plant processes waste crude from refineries including OQ, PDO and OQ8 (Q1 FY26).^[5]
Subsidiary Rivita Solutions serves ONGC. It had 5 active plants and a 6th being commissioned as of Q4 FY26.^[1]
The plastic recycling businesses being acquired hold exclusive 40-year government contracts for Ahmedabad, Baroda and Surat (Q3 FY26).^[3]

Expansion projects

The Mehsana metal recycling unit was acquired by Felix Prime Metal. It recovers zinc sulphate and copper sulphate at 4 TPD and was expected to start operating around June 2026.^[1]
A CETP-ZLD project (Eco Vision), in which Felix holds a stake, was about 70% complete at the Q4 FY26 call. It is targeted to be operating by September 2026.^[1]
Plastic recycling capacity is planned to grow from about 300 TPM to 1,000 TPM, with a target date of FY27.^[1]
Oman oil processing is planned to reach full use of its 40 TPD in 3 - 6 months, followed by a further doubling of capacity, according to the Q4 FY26 call.^[1]
A 175 KW waste-to-energy unit at the Oman subsidiary was still being commissioned in Q2 FY26.^[4]
A process to reclaim used acids (HCl, H2SO4, HNO3) finished trials in Punjab. Land and CPCB approval for a commercial plant were still pending as of Q4 FY26.^[1]

Recent developments

On October 8, 2026, the company bought 16,86,714 shares of Tierra Fertilizer Private Limited for ₹1.69 crore, raising its stake to 79.34%.^[6]
Oman operations were at a standstill in February - March 2026 because of the Middle East war. Work restarted afterwards.^[1]
The company plans to move from the NSE SME board to the NSE main board. Documentation is expected to take 5 - 6 months from June 2026.^[1]
Headcount was 521 as of August 2025. The company has offices in Ahmedabad, Delhi and Muscat, plus a factory in Oman.^[5]

Market Cap

₹306 Cr

High / Low

₹233 / 143

Stock P/E

18.2

Price / Book

2.2

Book Value

₹88

EPS

₹10.6

No. of Shares

1.72 Cr

ROCE

19.3%

ROE

14.1%

OPM

28.2%

Debt / Equity

0.22

Sales

₹102 Cr

Net Profit

₹18 Cr

Promoter holding

50.8%

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