Felix Industries Limited announced that its subsidiary, Felix Industries LLC, Oman, has signed a significant contract with OQ8 (Duqm Refinery and Petrochemical Industries Company L.L.C.) for the comprehensive management of hazardous waste. The agreement, disclosed on May 22, 2026, encompasses the collection, transportation, treatment, recycling, and environmentally safe disposal of waste generated by the refinery's operations.

Strategic Milestone

This contract represents a major strategic milestone for the company, significantly strengthening its international footprint in the environmental management and hazardous waste treatment industry. The award reinforces Felix Group's reputation as a technically competent partner capable of delivering sustainable and regulatory-compliant solutions. The project is anticipated to create long-term operational and revenue opportunities through both waste management services and value recovery from recyclable materials.

Contract Details

The subsidiary will undertake end-to-end hazardous waste management activities in strict compliance with national laws and international environmental, health, and safety standards. The scope of work includes securing waste collection orders from government bodies and executing processing activities that generate revenue from service fees and recovered materials.

Financial Overview

The financial terms of the agreement outline a three-year execution period. The pricing structure is determined by the type and quantity of material, leading to variable costs across different waste categories.

The estimated revenue of ₹60 crore represents a minimum baseline, as the actual quantity of waste may increase over the contract term. Additionally, the company expects to derive further value from recycled outputs, enhancing the overall revenue potential from both collection and recycling activities.

Felix Industries Limited has announced that its subsidiary, Felix Prime Metals Private Limited, has entered into a Share Purchase Agreement dated May 15, 2026, to acquire 100% of the equity share capital of Tierra Fertilizer Private Limited. The disclosure was made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Upon completion, Tierra Fertilizer Private Limited will become a Wholly Owned Subsidiary of Felix Prime Metals Private Limited and, consequently, a step-down subsidiary of Felix Industries Limited.

Acquisition Details at a Glance

The key parameters of this acquisition are summarised below:

About the Target Entity

Tierra Fertilizer Private Limited was incorporated on September 19, 2020, and is based in India. The company is engaged in the business of processing hazardous and non-hazardous waste containing metal ions, along with the production of metals in the form of ingots, as well as metal compounds such as sulphates and chlorides. Its capital structure is as follows:

Strategic Rationale

Felix Prime Metals Private Limited is engaged in the business of recycling and recovering metals from hazardous and non-hazardous waste, with a focus on sustainable recycling, resource recovery, and environmental conservation. The nature of Tierra Fertilizer's ongoing business is aligned with the business objectives of Felix Prime Metals Private Limited, making this a strategically consistent acquisition.

Through this transaction, Felix Prime Metals Private Limited will gain access to a fully established and ready-to-use manufacturing plant, along with the associated infrastructure and operational setup. This is expected to reduce the time and cost required for setting up new operations, improve operational efficiency, and support the expansion plans of the subsidiary in the metals recycling and allied processing segment.

Transaction Structure and Compliance

The acquisition will be effected through the purchase of 100% of the equity shares of Tierra Fertilizer Private Limited, with the consideration discharged entirely in cash. Of the total consideration of INR 12,00,00,000/-, an amount of INR 2,00,00,000/- is payable against the transfer of 20,00,000 equity shares at face value, while the remaining balance will be utilised for the repayment of liabilities. The transaction does not constitute a related party transaction, and neither the promoter nor the promoter group nor any group companies have any interest in the entity being acquired. No governmental or regulatory approvals are required for the completion of this acquisition.