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Refex Industries Secures INR 29.12 Crore Ash Transportation Contract for NHAI Road Project

Refex Industries Limited (RIL) has been awarded a contract worth INR 29.12 crores by a Maharashtra-based entity for ash transportation in an NHAI Road Project. The contract is set to last for 5 months and involves domestic operations. RIL has confirmed that the contract is not a related party transaction and that neither promoters nor group companies have interests in the awarding entity. This disclosure was made in compliance with SEBI regulations.

13Nov 25

Refex Industries Reports Fund Utilization for Preferential Issues, Sees Increase in Promoter Share Pledge

Refex Industries Limited has submitted monitoring agency reports for two preferential issues, detailing the utilization of Rs. 219.69 crore and Rs. 905.44 crore raised through equity shares and warrants. The funds are being allocated to working capital, capital expenditure, investments in subsidiaries, loan repayments, and general corporate purposes. While no deviation from stated objectives was reported, there's a notable increase in promoter share pledge from 10.37% to 30.19%. Some loan repayments were delayed by 50 days, and unutilized funds are parked in fixed deposits earning 7.25% to 7.50% interest.

12Nov 25

Refex Industries Q2 FY2026: Revenue Grows 15% to INR 431 Crores, EBITDA Nearly Doubles

Refex Industries Limited, a leader in ash and coal handling, reported robust Q2 FY2026 results. Total income grew 15% sequentially to INR 431.00 crores, EBITDA doubled to INR 74.00 crores, and net profit reached INR 52.00 crores. Margins improved to 10-12%. The company maintains a INR 1,200.00 crore order book in coal and ash handling services. Refex aims to increase daily ash handling capacity by 60-65% over three years. Wind turbine manufacturing revenue is expected in Q3 and Q4, with orders worth INR 1,225.00 crores. The company plans to demerge its mobility vertical and has ended power trading operations. Management remains optimistic about future growth prospects.

07Nov 25

Refex Industries Secures INR 30.12 Crore Transportation Contract from Major Power Producer

Refex Industries Limited has won a contract worth INR 30.12 crores from a major public sector power producer. The 5-month contract involves transporting pond ash to NHAI road projects. This domestic transaction showcases Refex's expansion into transportation services and engagement with the public sector. The company has confirmed no related party involvement in the contract.

04Nov 25

Refex Industries Reports Strong Q2 Results with ₹5,208.75 Lakh Net Profit, Discontinues Power Trading Segment

Refex Industries reported robust financial results for Q2 FY2025-26, with revenue from operations at ₹42,321.46 lakh and net profit from continuing operations at ₹5,208.75 lakh. The company announced strategic changes, including the discontinuation of its Power Trading and Green Mobility segments. The Board approved a draft composite scheme of amalgamation and arrangement involving Refex Green Mobility Limited, Refex Industries Limited, and Refex Mobility Limited. A new wholly-owned subsidiary, Refex Mobility Limited, was incorporated in September 2025.

24Oct 25

Refex Industries Secures INR 300 Crore Coal Mining Contract in Jharkhand

Refex Industries Limited has been awarded a contract worth INR 300 crore from a large mining entity in Jharkhand. The contract, spanning 8 months with a potential 4-year extension, involves removal of overburden, excavation, and transportation of coal. This domestic contract is not a related party transaction and complies with SEBI regulations. The company's secretary, Ankit Poddar, officially communicated this development to stock exchanges.

14Oct 25

Refex Renewables Divests Majority Stake in Flaunt Solar Energy

Refex Renewables, a subsidiary of Refex Industries, is selling a 74% stake in Flaunt Solar Energy for ₹74,000.00 at face value. Despite the significant divestment, Refex Renewables will maintain a financial interest in Flaunt Solar Energy through Optionally Convertible Debentures (OCDs). This strategic move suggests a potential shift in Refex Renewables' focus or portfolio optimization efforts while retaining exposure to Flaunt Solar Energy's future performance.

22Sept 25

Refex Industries Unveils Composite Scheme for Green Mobility Business Restructuring

Refex Industries Limited (RIL) has approved a restructuring plan involving the merger of its subsidiary, Refex Green Mobility Limited (RGML), into RIL, followed by the demerger of the Green Mobility Business into a new entity, Refex Mobility Limited (RML). The Green Mobility Business reported a turnover of Rs. 2,897.62 Lakhs, representing 1.18% of RIL's post-merger turnover. Shareholders will receive 1 equity share in RML for every 1 share held in RIL. The move aims to create an independent, focused entity for the Green Mobility Business, enhance management focus, and improve capital market access for both entities.

12Sept 25

Refex Industries Expands into Mobility Sector with New Subsidiary

Refex Industries has incorporated a new wholly-owned subsidiary, Refex Mobility Limited (RML), to enter the urban transportation and mobility solutions sector. RML, with a subscribed capital of ₹1,00,000, aims to provide passenger services, logistics solutions, and sustainable transportation infrastructure. The subsidiary will focus on electric vehicles, software solutions for mobility, and related services. While RML has not yet commenced operations, this move represents a strategic expansion for Refex Industries beyond its main business line.

02Sept 25

Refex Industries Secures ₹25 Crore Order for Pond Ash Transportation

Refex Industries Limited has won a ₹25 crore order from Andhra Pradesh Power Development Company Limited for pond ash transportation. The contract, to be executed over 3 months, involves supply and services for pond ash transportation. This order demonstrates Refex Industries' capability in handling large-scale industrial logistics projects and aligns with its focus on serving India's industrial needs. The company has disclosed this information in compliance with SEBI regulations.

13Aug 25

Refex Industries Secures INR 47 Crore Pond Ash Transportation Order Amid Q1 Revenue Decline

Refex Industries Limited reported a 36% decrease in consolidated revenue to ₹394.51 crore for Q1, down from ₹597.21 crore in the previous year. Net profit fell by 30.6% to ₹20.37 crore. The company improved its EBITDA margin to 9.80%. The Ash & Coal Handling segment remained the primary revenue driver. The decline was attributed to early and intense monsoon conditions. The company secured a new ₹47 crore contract for pond ash transportation and declared a 25% interim dividend.

11Aug 25

Refex Industries Boosts Stake in Venwind Refex Power to 75.50%

Refex Industries Limited has increased its ownership in Venwind Refex Power Limited (VRPL) from 67% to 75.50%. This 8.50% increase was achieved by converting part of a ₹59.93 crore outstanding unsecured loan into 34,693 equity shares of VRPL. The new shares were issued at ₹10 face value with a ₹17,265 premium per share. Post-conversion, Refex now holds 101,693 equity shares in VRPL, up from 67,000. VRPL's paid-up capital increased from 100,000 to 134,693 fully paid-up equity shares, valued at ₹13.47 lakh.

11Aug 25

Refex Industries Rebrands eVeelz Division to Refex Mobility, Appoints New Leadership

Refex Industries has rebranded its electric mobility division from 'Refex eVeelz' to 'Refex Mobility'. Anirudh Arun has been appointed as CEO of Refex Green Mobility Limited, with Ankit Grover as CBO. The company has expanded its leadership team and grown its EV fleet from 24 to nearly 1,400 vehicles since March 2023. Refex Mobility aims to provide tech-backed B2B and B2B2C mobility solutions, focusing on reliability, safety, sustainability, and social impact.

05Aug 25

Refex Industries Promoter Pledges 10% Equity Shares, Company Announces Board Meeting

Refex Industries Limited's promoter, Refex Holding Private Limited, has pledged 10% of the company's paid-up equity capital to Touchstone Trust Scheme VI. The company also announced a board meeting on August 12, 2025, to review Q1 FY2025-26 financial results and consider an interim dividend. The trading window for insiders is closed until 48 hours after the results publication.

02Aug 25

Refex Industries Bags ₹50 Crore Order from NTPC for Pond Ash Management

Refex Industries Limited has obtained a ₹50 crore order from NTPC Limited for the transportation and unloading of pond ash. The contract spans one year with a possible six-month extension. This domestic contract with India's largest power generation utility is expected to significantly contribute to Refex Industries' revenue over the next 12-18 months. The order highlights the company's capabilities in industrial waste management, particularly in the power sector.

07Jul 25

Refex Industries Secures Major Order Worth ₹250 Crore

Refex Industries Limited has secured a substantial order valued at approximately ₹250.00 crore (2.50 billion rupees). This significant business development is expected to bolster the company's market position and potentially boost its revenue. While specific details about the order and client remain undisclosed, the contract's size suggests it could strengthen Refex Industries' standing in the market and possibly lead to improved financial performance in upcoming quarters. The order may also necessitate operational scaling and could increase investor confidence in the company's capabilities.

24Apr 25

Refex Industries Reports Robust Growth in Q4 and FY2025, Net Profit Soars 88% YoY

Refex Industries Limited announced its Q4 and FY2025 financial results, showing significant growth. Annual revenue increased by 77% to ₹2,43,001.62 crore, while net profit soared by 88% to ₹18,941.10 crore. The ash and coal handling segment was the top performer with 136% YoY growth. The company raised capital through preferential allotments and implemented strategic initiatives, including changes in subsidiary operations and financial management decisions.

23Apr 25

Refex Industries Reports Strong FY2025 Performance with 77% Revenue Growth

Refex Industries Limited announced robust financial results for FY2025. Revenue surged 77% to ₹2,43,001.62 crore, while net profit jumped 88% to ₹18,941.10 crore. Q4 performance was equally strong with 81% YoY revenue growth. The Ash & Coal Handling segment remained the primary revenue driver. Total assets increased significantly to ₹1,68,096.05 crore, with a strong cash position of ₹26,393.16 crore. The company also approved new governance policies to support future growth.

02Apr 25

Refex Industries Secures Tender for 200 TPD Bio-CNG Plant in Salem

Refex Industries Limited has secured a tender to establish a 200 Tonnes Per Day (TPD) Municipal Solid Waste based Bio-CNG plant in Salem, Tamil Nadu. The project aims to convert municipal waste into compressed natural gas, addressing waste management issues and producing renewable energy. This initiative is expected to reduce landfill waste, generate clean energy, and mitigate greenhouse gas emissions. The project aligns with India's goals for clean energy promotion and improved urban waste management.

01Apr 25

Refex Industries Greenlights Massive Financial Transactions Worth ₹43.60 Billion

Refex Industries' board has approved investments, loans, and guarantees of up to ₹2,500 crore, along with related party transactions of ₹1,860 crore with Venwind Refex Power. The total approved transactions amount to ₹4,360 crore, signaling potential expansion, new market entries, and strengthened industry partnerships.

28Mar 25

Refex Industries Approves ₹2,500 Crore Investment Plan and ₹1,860 Crore Related Party Transaction

Refex Industries' board has approved investments, loans, and guarantees up to ₹2,500 crore, exceeding limits under the Companies Act, 2013. They also sanctioned a ₹1,860 crore related party transaction with subsidiary Venwind Refex Power Limited. Shareholder approval will be sought via postal ballot from April 03 to May 02, 2025. The board amended the Employee Stock Option Scheme 2021. Subsidiary Refex Green Mobility Limited withdrew from a proposed 2,997 electric vehicle acquisition deal with Gensol Engineering Limited.

28Mar 25

Refex Green Mobility Withdraws from Asset Takeover Deal with Gensol Engineering

Refex Green Mobility Limited (RGML), a subsidiary of Refex Industries, has decided to withdraw from its proposed acquisition of 2,997 electric vehicles from Gensol Engineering Limited. The decision was made after mutual agreement and due to evolving commitments and timeline challenges. This development marks a shift in Refex's strategy in the electric mobility sector, potentially impacting its growth plans in the EV market.

05Mar 25

Refex eVeelz Gears Up for Major EV Fleet Expansion Across Four Indian Metros

Refex Industries Limited's subsidiary, Refex Green Mobility Limited (Refex eVeelz), announces plans to add 1,000 electric cars to its fleet in FY26. The expansion involves a strategic partnership with a leading ride-hailing platform, focusing on Chennai, Hyderabad, Bengaluru, and Mumbai. This move will increase Refex eVeelz's current fleet of 1,300 electric vehicles, reinforcing its position in the EV-as-a-service sector and contributing to India's sustainable mobility goals.

04Mar 25

Refex eVeelz Gears Up for Major EV Fleet Expansion with 1,000 New Electric Cars

Refex Green Mobility Limited (Refex eVeelz), a subsidiary of Refex Industries Limited, plans to expand its electric vehicle fleet by 1,000 cars in FY2026. The company has partnered with a leading ride-hailing platform to operate these e4Ws in Chennai, Hyderabad, Bengaluru, and Mumbai. Currently operating nearly 1,300 EVs, this expansion will strengthen Refex eVeelz's position in the EV-as-a-service sector. The initiative aligns with India's sustainability goals and aims to contribute to urban carbon footprint reduction.