Key Highlights

  • Redox (ASX:RDX) closed at $3.35 on 6 November 2026, down 1.76%, while the S&P/ASX 200 Industrials index fell about 0.02%.
  • Record FY26 Revenue of $1.33 billion rose 6.9%, and statutory NPAT increased 19.2% to $92 million.
  • Total FY26 dividends were 13.0 cents per share, up 4%, with a final Dividend of 6.5 cents.

Redox Limited (ASX:RDX) closed at $3.35 on 6 November 2026, down 1.76% for the trading session. The S&P/ASX 200 Industrials index (XNJ) closed at 8,421.00, down 1.80 points or about 0.02% over the same session. The S&P/ASX 200 finished at 9,020.80, up 0.49%, and the All Ordinaries closed at 9,144.70, up 0.66%. Redox is a distributor of chemicals, ingredients and raw materials, with operations in Australia, New Zealand and North America.

Latest Developments

FY26 Results (20 August 2026)

Redox released its results for the year ended 30 June 2026 on 20 August 2026. Revenue reached a record $1.33 billion, up 6.9%, driven by organic growth and previously acquired businesses. Gross Profit rose 11.0% to $298 million, and the Gross Profit Margin improved 0.8 percentage points to 22.4%.

Underlying EBITDAFX increased 9.9% to $134 million, with a conversion margin of 44.8%. Statutory NPAT rose 19.2% to $92 million, and pro forma basic EPS was 17.5 cents. Operating Cash Flow was $88 million, up $40 million, and free cash flow conversion was 62.5%.

Dividend and Segment Performance (20 August 2026)

The board declared a final dividend of 6.5 cents per share, bringing total FY26 dividends to 13.0 cents, up 4%. Australian revenue increased 6.1% to $1.12 billion, with growth across several of the largest industry segments and a contribution from Molekulis, which sells transformer oils to the energy generation and transmission sectors. New Zealand revenue fell 4%, reflecting softer Demand in the human health segment. North American revenue exceeded $100 million for the first time, up 33.8%.

About the Company

Redox distributes chemicals, ingredients and raw materials to customers across manufacturing, food, personal care, energy and other industries. Its model is based on sourcing products from suppliers and supplying them to customers, with Value Added through technical support, blending and logistics.

The company has grown through a mix of organic expansion and acquisitions. Its North American Business has become a growing part of group revenue, and the release presented that expansion as the outcome of its regional strategy.

Sector Context

Chemical distribution is closely linked to industrial production, and its Earnings depend on customer demand across Manufacturing and consumer sectors. Raw material prices and freight costs affect gross margins, and distributors often pass changes to customers over time.

The release described the operating environment as generally subdued, but noted that margins and cash generation improved during FY26.

Risks to Watch

Softer demand in New Zealand's human health segment reduced revenue in that market, and demand conditions across industries can change quickly. Gross margins can also be affected by movements in input costs and the mix of products sold.

Redox's acquisition-based growth requires successful integration, and its North American expansion involves operating in a different regulatory and competitive environment.

Catalysts on Watch

The company's next updates on Australian and North American revenue growth, along with its free cash flow conversion and dividend policy, are the main points investors may follow. Progress in the Molekulis business and further North American expansion were highlighted as areas of focus.

Closing Remarks

Redox reported record revenue, stronger margins and higher cash generation for FY26. Its share price closed at $3.35 on 6 November 2026, down 1.76%, a move that was weaker than the broader Industrials benchmark for the session. The company's upcoming reporting will show whether these trends continue.