Refex Industries has announced the incorporation of a new wholly-owned subsidiary, Refex Mobility Limited (RML), marking its entry into the urban transportation and mobility solutions sector. The incorporation, approved by the Ministry of Corporate Affairs on September 12, 2025, represents a strategic expansion for the company beyond its main line of business.

Subsidiary Details

Refex Mobility Limited has been established with a subscribed capital of ₹1,00,000, consisting of 10,000 fully paid-up equity shares at ₹10 each. The newly formed entity, with CIN U79110TN2025PLC184411, is set to operate in the mobility business sector, focusing on sustainable urban transportation and energy solutions.

Business Objectives

According to the company's disclosure, RML's objectives include:

• Providing passenger services and logistics solutions
• Sales, leasing, and servicing of electric and other vehicles
• Developing related infrastructure for sustainable transportation
• Creating software solutions for the mobility sector

The company also plans to enter into beneficial contracts both in India and abroad, including equipment leasing and sub-leasing arrangements.

Financial Aspects

As a newly incorporated entity, Refex Mobility Limited has not yet commenced business operations and currently has no turnover. The initial subscription of ₹1,00,000 to the share capital was made in cash by Refex Industries, securing 100% ownership of the subsidiary.

Management Commentary

Ankit Poddar, Company Secretary and Compliance Officer of Refex Industries, stated in the regulatory filing, "The incorporation of Refex Mobility Limited aligns with our strategy to expand into the growing sustainable transportation sector. We believe this move will position us to capitalize on the opportunities in urban mobility and contribute to more sustainable cities."

Market Impact

The expansion into the mobility sector represents a significant diversification for Refex Industries. While the immediate financial impact is minimal, the long-term potential of this strategic move remains to be seen as the subsidiary begins its operations in the competitive and rapidly evolving urban transportation market.

Investors and market watchers will likely keep a close eye on how this new venture unfolds and its potential to drive growth for Refex Industries in the coming years.

Refex Industries Limited (RIL) has announced a significant business development, securing an order worth ₹25 crore from Andhra Pradesh Power Development Company Limited. The order, which bolsters the company's position in the industrial services sector, is for the transportation of pond ash.

Order Details

The company disclosed the following key details about the order:

• Client: Andhra Pradesh Power Development Company Limited
• Nature of Contract: Transportation of Pond Ash
• Contract Value: ₹25.00 Crore
• Execution Period: 3 Months
• Scope: Supply and services for pond ash transportation

Strategic Implications

This order represents a notable achievement for Refex Industries, showcasing its capabilities in handling large-scale industrial logistics projects. The contract's domestic nature aligns with the company's focus on serving India's growing industrial needs.

Regulatory Compliance

In adherence to regulatory requirements, Refex Industries has promptly disclosed this information under Regulation 30 of the Securities and Exchange Board of India (SEBI) Listing Obligations and Disclosure Requirements Regulations, 2015. The company has confirmed that this contract does not fall under related party transactions and that there is no interest from the promoter or promoter group in the awarding entity.

Market Impact

While the specific market reaction remains to be seen, this ₹25.00 crore order is likely to have a positive impact on Refex Industries' financial outlook for the coming quarter. It demonstrates the company's ability to secure significant contracts in the competitive industrial services sector.

The timely execution of this contract over the next three months will be crucial for Refex Industries to capitalize on this opportunity and potentially secure similar projects in the future.