Refex Renewables Infrastructure has reported its financial results for the second quarter and half-year ended September 30, 2025, revealing continued losses and a proposal for a significant corporate rebranding.

Financial Performance

For Q2 FY2026, Refex Renewables Infrastructure reported:

• Consolidated revenue from operations of INR 1,428.00 lakhs, compared to INR 1,400.00 lakhs in Q2 FY2025
• Net loss of INR 1,432.00 lakhs, widening from INR 1,269.00 lakhs in the same quarter last year
• Loss per share increased to INR 31.89, up from INR 28.28 in Q2 FY2025

The company's performance for the half-year ended September 30, 2025, showed:

• Consolidated revenue of INR 3,102.00 lakhs, slightly lower than INR 3,201.00 lakhs in H1 FY2025
• Net loss of INR 2,184.00 lakhs, compared to INR 2,119.00 lakhs in the previous year's corresponding period

Going Concern Issues

The company's management noted that Refex Renewables Infrastructure has incurred losses in the current quarter, and its net worth has been completely eroded. This raises substantial doubt about the Group's ability to continue as a going concern. However, the management is pursuing new business opportunities and has obtained a letter of support from a promoter shareholder to continue operations.

Proposed Name Change

In a significant move, the Board of Directors has proposed changing the company's name from "Refex Renewables & Infrastructure Limited" to "Ecosphere Sustainable Energy Limited." This change aims to better reflect the company's evolving business vision, strategic direction, and commitment to sustainability.

The proposed rebranding is designed to:

1. Align with a broader vision of sustainable energy solutions
2. Reflect the expansion of business scope beyond traditional renewable energy
3. Strengthen market differentiation and brand identity
4. Reinforce the company's Environmental, Social, and Governance (ESG) commitments

The name change proposal will be put to shareholders for approval through a postal ballot.

Other Corporate Actions

• The company allotted 1,381 equity shares under its Employee Stock Option Scheme, increasing the paid-up capital to INR 4.50 crores.
• A subsidiary, Refex Green Power Limited, divested its 74% stake in Flaunt Solar Energy Private Limited.
• Another subsidiary, Refex Sustainability Solutions Limited, acquired a 72.05% stake in Spectrum Renewable Energy Private Limited.

Refex Renewables Infrastructure faces challenges with its financial performance but is taking strategic steps to reposition itself in the sustainable energy market. The proposed name change to Ecosphere Sustainable Energy Limited signals a shift towards a more comprehensive approach to clean energy solutions and sustainable practices.

Refex Renewables Infrastructure Limited , a company in the renewable energy sector, has received a significant request from one of its major shareholders. Avyan Pashupathy Capital Advisors Private Limited, currently classified as a promoter, has asked to be reclassified into the public category in the company's shareholding pattern.

Request Details

Avyan Pashupathy Capital Advisors Private Limited, holding a substantial stake in Refex Renewables Infrastructure Limited, submitted a reclassification letter dated October 31, 2025. The company received this request on November 3, 2025. The shareholder's current position is as follows:

Regulatory Compliance

Refex Renewables Infrastructure Limited has stated that it will adhere to the due process required under the Securities and Exchange Board of India (SEBI) Listing Obligations and Disclosure Requirements (LODR) Regulations to review this request. The company has formally intimated the BSE Limited about this development on November 4, 2025, in compliance with Regulation 30 read with 31A(8)(a) of the SEBI LODR Regulations.

Next Steps

The company will now follow the prescribed procedures, which include:

1. Confirming the completeness of the reclassification request
2. Reviewing the request in accordance with SEBI LODR Regulations
3. Potentially seeking board and shareholder approvals, if required
4. Submitting necessary applications to stock exchanges

It's important to note that this reclassification, if approved, could significantly alter the shareholding structure of Refex Renewables Infrastructure Limited. However, the final outcome will depend on the regulatory review process and any subsequent approvals required.

Shareholders and potential investors should keep an eye on further announcements from the company regarding the progress of this reclassification request, as it may have implications for the company's ownership structure and governance.