Refex Industries , a diversified company with interests in ash and coal handling, refrigerant gases, and renewable energy, has reported strong financial results for the quarter ended September 30, 2025, along with significant strategic changes.

Financial Highlights

The company's financial performance for Q2 FY2025-26 showcases:

Strategic Developments

Power Trading and Green Mobility Discontinuation

• The Board has approved the discontinuation of the Power Trading business segment, which has been classified as discontinued operations.
• The company has also discontinued its Green Mobility segment during the quarter.

Corporate Restructuring

• The Board approved a draft composite scheme of amalgamation and arrangement involving Refex Green Mobility Limited, Refex Industries Limited, and Refex Mobility Limited.
• Refex Industries incorporated a wholly-owned subsidiary, Refex Mobility Limited, in September 2025.

Corporate Governance

The quarterly results were reviewed by the Audit Committee and subsequently approved by the Board of Directors at their meeting held on November 4, 2025.

Outlook

The discontinuation of certain business segments may impact Refex Industries' revenue streams. However, the strong net profit figures suggest that the company is focusing on profitability and operational efficiency. The strategic restructuring, including the new subsidiary and the amalgamation scheme, indicates that Refex Industries is positioning itself for future growth opportunities.

Investors and stakeholders will likely be watching closely to see how these strategic moves translate into financial performance in the coming quarters, particularly in light of the evolving business landscape.

Refex Industries Limited (RIL) has announced a significant development in its business operations, securing a substantial contract in the mining sector. The company has been awarded a contract worth INR 300 crore from a large mining entity in Jharkhand for the removal of overburden, excavation, and transportation of coal.

Contract Details

The details of the contract, as disclosed by Refex Industries Limited, are as follows:

Significance and Compliance

This contract represents a significant business opportunity for Refex Industries Limited, potentially boosting its revenue and expanding its presence in the mining services sector. The company has confirmed that the contract does not fall under related party transactions, ensuring transparency in its business dealings.

In compliance with regulatory requirements, Refex Industries has made this disclosure under Regulation 30 of the Securities and Exchange Board of India (SEBI) Listing Obligations and Disclosure Requirements Regulations, 2015, read with the SEBI Master Circular.

Company Statement

Ankit Poddar, Company Secretary & Compliance Officer of Refex Industries Limited, officially communicated this development to the stock exchanges. The company emphasized that neither the promoters nor the promoter group have any interest in the entity awarding the contract, further underlining the arm's length nature of this business transaction.

This new contract could potentially signal Refex Industries' growing footprint in the mining services sector, although investors and stakeholders should note that the company's performance will depend on various factors beyond this single contract.