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Refex Industries corrects ash lifting quantity to 10 lakh metric tonnes

Refex Industries corrected a typo in its MP PSU contract disclosure. The ash lifting quantity is 10 lakh metric tonnes, not 10 metric tonnes. The ₹160 crore deal value and 18-month timeline remain unchanged.

16Sept 26

Refex Industries to host investor meet at Anand Rathi summit

Refex Industries hosts investors on September 22, 2026. Meeting held at Anand Rathi G-200 Summit 2026. Session starts at 9:00 am at Taj Santacruz, Mumbai. Discussion limited to publicly available information.

04Sept 26

Refex Industries promoter pledges 4.75 lakh shares for loan collateral

Refex Holding Private Limited pledged 4,75,000 shares (0.35% of capital). Encumbrance created on September 1, 2026, for loan collateral. Total promoter pledge now stands at 3,39,33,612 shares (24.72% of capital). Promoter retains 56.56% total stake in Refex Industries.

22Aug 26

Refex Industries appoints Kulkarni and Jakkaraju as senior executives

Refex Industries appoints Anil S. Kulkarni as Chief Business Officer for its RMC Division. Prasad Jakkaraju is designated Vice President and Head of ESG & EHS. Both appointments effective August 22, 2026, per SEBI LODR Regulation 30 disclosure. Kulkarni brings 29 years of experience in concrete and building materials. Jakkaraju has over 22 years of expertise in sustainability and environmental compliance.

18Aug 26

Refex Industries promoter pledges 20.9 lakh shares for collateral

Refex Holding Private Limited pledged 20,90,000 shares of Refex Industries to Northern Arc Capital Limited on August 10, 2026, for collateral against company loans. This move followed the release of 24,07,917 shares, resulting in a net decrease in total encumbered promoter holdings to 3,34,58,612 shares (24.38% of total capital). The promoter retains a 56.57% stake in the listed entity.

07Aug 26

Refex Industries hosts analyst meet at Emkay Global Conference

Refex Industries Limited announced an investor meet for August 12, 2026, at the Emkay Global Conference in Mumbai. The session will focus on publicly available information, with no UPSI to be disclosed.

07Aug 26

Refex Industries secures 99.999% shareholder approval for amalgamation scheme

Refex Industries Limited has obtained overwhelming support for its Composite Scheme of Amalgamation, with 99.999% of equity votes cast in favor and unanimous backing from participating secured and unsecured creditors. The results clear the path for final NCLT approval.

05Aug 26

Refex Industries net profit surges 122% in Q1FY27 on ash, wind growth

Refex Industries posted a standalone net profit of ₹73.39 crore in Q1FY27, up 122% YoY, fueled by robust ash handling volumes and ₹295 crore in wind energy execution. Management guided for 5-6% net margin in wind business by FY27 end and confirmed the demerger of mobility operations by Q3FY27.

04Aug 26

Refex Industries targets 90k ton ash run rate, 5-6% wind net margin

Refex Industries reported a 122% YoY profit surge in Q1FY27 driven by warrant forfeiture. Management outlined strong operational guidance, targeting a 90,000-ton daily ash run rate by Q4FY27 and a 5-6% net margin for the wind energy segment by year-end, alongside progress on the mobility business demerger.

03Aug 26

Refex Industries approves dividend, reappoints Anil Jain at 24th AGM

Refex Industries concluded its 24th AGM on July 31, 2026, where shareholders approved the adoption of audited financial statements for FY26, declared a final dividend, and reappointed Anil Jain as a director. The meeting also saw approval for varying the utilization of ₹19.07 crore from a previous preferential issue. All resolutions passed with overwhelming support from the promoter group.

30Jul 26

Refex Industries net profit rises 35% to ₹247.2 crore in Q1FY27

Refex Industries reported a 35% YoY rise in net profit to ₹247.2 crore for Q1FY27, driven by margin expansion and strong order inflows in ash handling.

29Jul 26

Refex Industries Q1FY27 net profit rises 34.6% to ₹247 crore

Refex Industries posted a 34.6% increase in Q1FY27 net profit to ₹247.2 crore, supported by robust performance in its Ash & Coal Handling segment and initial deliveries in its Wind Business. The company also secured NCLT approval for its demerger plan involving Refex Green Mobility Limited.

24Jul 26

Refex Industries Announces Q1 Earnings Call Scheduled for July 30 at 11:30 AM

Refex Industries has announced its Q1 earnings call scheduled for July 30 at 11:30 AM. The call is set to provide investors and analysts with an update on the company's quarterly financial performance. Stakeholders are advised to mark the date to receive the latest developments from the company's management.

12Jul 26

Refex Industries fixes July 24 as record date for ₹1.50 dividend

Refex Industries Limited has fixed July 24, 2026, as the record date to determine eligibility for a ₹1.50 dividend and participation in the 24th AGM. The Board recommended a final dividend of ₹1 per share, adding to an interim payout of ₹0.50. The AGM will be held on July 31, 2026, via video conferencing, with remote e-voting available from July 28 to July 30.

09Jul 26

Refex Industries files BRSR for FY26 with ₹2,302 Cr revenue

Refex Industries Limited filed its Business Responsibility and Sustainability Report for FY 2025-26, reporting a revenue of ₹2,302 crore and zero fatalities. The company targets carbon neutrality by 2035 and net-zero by 2040, with 100% renewable energy adoption at its Thiruporur plant.

08Jul 26

Refex Industries wins ₹20.94 Cr order for ash transportation

Refex Industries has secured a ₹20.94 crore order for ash transportation to construction sites of road projects, including those under NHAI and PMGSY. The 12-month contract, awarded by a domestic entity based in Maharashtra, reinforces the company's position in the infrastructure logistics sector.

07Jul 26

Refex promoter pledges 35 lakh shares for margin funding

Refex Holding Private Limited, the promoter of Refex Industries Limited, has pledged 35,00,000 equity shares to Axis Securities Limited for margin trading funding between June 25 and June 30, 2026. This increases the promoter's encumbered shareholding to 24.61% of the paid-up capital, with a security cover ratio of 3.12:1.00 against an involved amount of ₹40,00,00,000.

07Jul 26

Refex Industries to hold meetings on Aug 5 to approve amalgamation scheme

Refex Industries Limited will hold meetings on August 5, 2026, to approve a composite scheme of amalgamation and arrangement with Refex Green Mobility Limited and Refex Mobility Limited. The meetings, ordered by the NCLT, involve equity shareholders and creditors. The scheme includes the amalgamation of Refex Green Mobility Limited with Refex Industries Limited and the demerger of the green mobility business into Refex Mobility Limited.

01Jul 26

Refex Holding Private Limited acquires 10 lakh shares, increases stake to 56.57%

Refex Industries Limited disclosed that Refex Holding Private Limited acquired 10,00,000 shares (0.73%) via open market purchases on June 25, 29, and 30, 2026. This transaction increases the promoter's holding to 56.57%, while the total equity share capital remains ₹27,44,38,896.

27Jun 26

Refex Industries wins ₹21.15 Cr order for ash transportation

Refex Industries Limited has secured a domestic order worth approximately ₹21.15 crore from a Maharatna CPSE for transporting ash to road projects including NHAI and PMGSY. The contract, disclosed under Regulation 30 of SEBI Listing Regulations, is to be executed over 12 months and does not involve related party transactions.

25Jun 26

NCLT schedules meetings for Refex Industries amalgamation scheme

NCLT Chennai has scheduled meetings on August 5, 2026, for creditors and shareholders to consider Refex Industries' composite amalgamation scheme involving Refex Green Mobility and Refex Mobility.

18Jun 26

Refex Industries promoter pledges 23.06% stake in FY26

Refex Holding Private Limited, the promoter of Refex Industries, pledged 3,16,36,946 equity shares during the financial year 2025-26. This represents 23.06% of the company's total paid-up share capital. The disclosure was made to the exchanges under Regulation 31(5) of the SEBI SAST Regulations.

09Jun 26

Refex Industries to host analyst meet for Q4FY26 results

Refex Industries announced an analyst and institutional investor meet scheduled for June 11, 2026, in Mumbai. Management representatives will discuss Q4 and FY26 results based on the investor presentation. The disclosure was made under Regulation 30 of the SEBI Listing Regulations.

04Jun 26

Refex Industries GST demand of ₹35,29,002 quashed for FY 2021-22

Refex Industries Limited announced that the Joint Commissioner (Appeals), Central GST (Appeals), Raipur, Chhattisgarh, has quashed a GST demand of ₹35,29,002 for the Financial Year 2021-22. The order, received on June 02, 2026, nullifies the tax demand previously raised by the Assistant Commissioner, CGST & Central Excise, Raipur. The initial demand, communicated via an intimation dated December 16, 2025, comprised a tax liability of ₹31,90,002 and a penalty of ₹3,39,000.

03Jun 26

Refex Industries maintains 20% margin, eyes wind energy growth

Refex Industries Limited reported a 67% year-on-year surge in standalone PAT to ₹94 crores for Q4FY26, with EBITDA margins expanding to 20.1%. For FY26, PAT rose to ₹247 crores on the back of a 68% increase in EBITDA to ₹350 crores. The company is focusing on its Ash & Coal Handling and Wind Energy segments, with order books of ₹1,500 crores and ₹1,860 crores respectively, while the Mobility business demerger is expected to be completed shortly.

30May 26

Refex Industries secures ₹36.91 crore order for pond ash transportation

Refex Industries Limited has secured a domestic order worth ₹36.91 crore from a Major Power Producer Company for the excavation, loading, and transportation of pond ash. The contract spans two years and covers operations at Open Cast Mines, Stone Quarries, and NHAI project sites. The company confirmed there are no related party transactions involved.

28May 26

Refex FY26 net profit rises 34.7% to ₹247.2 crore

Refex Industries reported a 34.7% year-on-year increase in its standalone net profit to ₹247.2 crore for FY26, with revenue at ₹2,039.2 crore. The Board recommended a final dividend of ₹1 per share and approved the discontinuation of the Power Trading and Refrigerant Gases segments. The audited results were published in newspapers on May 27, 2026.

21May 26

Refex Industries Wins ₹20.27 Crore Logistics Order

Refex Industries has won a ₹20.27 crore order for logistics and material handling services from a leading Miniratna company. The project, focused on the infrastructure and mining sector, is expected to be completed in approximately six months.

20May 26

Refex board to meet on May 26 to consider FY26 results

Refex Industries Limited announced that its board will meet on May 26, 2026, to approve audited financial results for the quarter and year ended March 31, 2026. The meeting will also consider a final dividend for FY26. The trading window for insiders remains closed until 48 hours post-result publication.

14May 26

Refex Industries Secures ~INR 36.50 Crore Order for Bulk Industrial Commodity Supply from Leading Navratna PSU

Refex Industries Limited has secured an order worth approximately INR 36.50 Crore for the supply of Bulk Industrial Commodity from a leading Navratna PSU in the steel sector. The domestic contract is to be executed within approximately 40 days and was disclosed under Regulation 30 of the SEBI Listing Regulations. The transaction involves no related party interest, as confirmed by Company Secretary Ankit Poddar on May 13, 2026.

13May 26

Refex Forfeits ₹130.69 Cr on Lapsed Warrants

Refex Industries Limited announced the forfeiture of ₹130.69 crore following the lapse of 1,11,70,000 convertible warrants on May 06, 2026, as holders failed to pay the balance 75% of the issue price. The monitoring agency report for Q4 FY26 confirmed the forfeiture and noted that the company had utilized ₹499.88 crore of the total preferential issue proceeds, with ₹13.50 crore deployed in fixed deposits.

08May 26

Refex Industries Postal Ballot Results: Shareholders Approve Two Key Resolutions

Refex Industries Limited has successfully concluded its postal ballot e-voting process, with shareholders approving two key resolutions on April 30, 2026. The Special Resolution for investments under Section 186 and the Ordinary Resolution for related party transactions with Venwind Refex Power Limited were passed with strong support. The scrutinizer's report by Mehak Gupta & Associates confirmed the results, which were submitted to the stock exchanges.

02May 26

Refex Industries Allots 20,057 Equity Shares Under ESOP Scheme 2021

Refex Industries Limited allotted 20,057 equity shares of ₹2 each under ESOP Scheme 2021, increasing paid-up capital to ₹27,44,38,896. The allotment was approved on May 1, 2026, with shares ranking pari-passu with existing equity shares.

29Apr 26

Madras High Court Quashes ₹3,567.22 Lakh Income Tax Demand Against Refex Industries

Refex Industries Limited achieved a significant legal milestone with the Madras High Court setting aside an Income Tax assessment order and nullifying a demand of ₹3,567.22 lakh for Assessment Year 2016-17. The court ruled in favor of the company after finding procedural violations under Section 144A of the Income Tax Act, including lack of reasonable opportunity for hearing and improper approval for notice issuance.

26Apr 26

Refex Industries Completes Rights Issue in Subsidiary Venwind Refex Power Limited Worth ₹2.99 Crore

Refex Industries Limited completed acquisition of equity shares in subsidiary Venwind Refex Power Limited through rights issue worth ₹2,99,99,376 on April 25, 2026. The company acquired 1,712 shares at ₹10 face value with ₹17,513 premium per share. Following the rights issue and OCD conversions by other shareholders, Refex Industries' stake in VRPL decreased from 77.77% to 73.28%. The subsidiary operates in wind power sector and was incorporated on December 20, 2024.

20Apr 26

Refex Industries Bags ₹32.12 Crore NHAI Order for Pond Ash Transportation

Refex Industries has won a significant ₹32.12 crore contract from NHAI for providing pond ash transportation services to road construction sites over a one-year period. This strategic partnership positions the company as a key logistics provider in India's infrastructure development sector while contributing to sustainable road construction practices.

10Apr 26

Refex Industries Submits SEBI Compliance Certificate for Q4 FY26

Refex Industries Limited filed its Q4 FY26 compliance certificate under SEBI Regulation 74(5) on April 09, 2026, covering the quarter ended March 31, 2026. The certificate, issued by RTA Cameo Corporate Services Limited, confirms proper handling of dematerialisation processes and adherence to regulatory timeframes. Company Secretary Ankit Poddar submitted the document to BSE and NSE, fulfilling mandatory quarterly compliance reporting requirements.

09Apr 26

Refex Industries Redeems ₹3 Crore OCDs and Converts ₹4.85 Crore Loan to Equity in Subsidiary VRPL

Refex Industries Limited redeemed OCDs worth ₹3,00,00,000 and converted a loan of ₹4,85,03,664 into 2,768 equity shares in subsidiary Venwind Refex Power Limited on April 08, 2026. The conversion increased Refex Industries' stake in VRPL from 77.39% to 77.77%, aimed at strengthening the subsidiary's capital structure and supporting growth in the power and energy sector.

07Apr 26

Refex Industries Secures ₹70.2 Crore Order from Leading Navratna Steel PSU

Refex Industries has officially announced securing a substantial ₹70.2 crore order from a leading Navratna public sector undertaking in the steel sector through regulatory disclosure. The contract involves supply of bulk industrial commodities with an execution timeline of approximately 2 months, representing a significant business win for the company.

31Mar 26

Refex Industries Completes Postal Ballot Notice Dispatch for ₹3,300 Crore Investment

Refex Industries Limited has completed the dispatch of its postal ballot notice on March 31, 2026, following newspaper advertisements in Business Standard and Dinamani. The company seeks shareholder approval for enhanced investment authorization up to ₹3,300 crore and material related party transactions worth ₹2,010 crore with subsidiary Venwind Refex Power Limited through remote e-voting from April 1-30, 2026.

31Mar 26

Refex Industries Increases Subsidiary Stake to 77.39% Through OCD Conversion

Refex Industries Limited has increased its shareholding in subsidiary Venwind Refex Power Limited from 73.28% to 77.39% through the conversion of Class B Optional Convertible Debentures worth ₹43,00,00,000 into 24,866 equity shares. The transaction, completed on March 30, 2026, aims to strengthen the subsidiary's capital structure and support future growth in the wind power sector. Venwind Refex Power Limited, incorporated in December 2024, operates in the power and energy industry with a focus on wind power and allied activities.

27Mar 26

Refex Industries Files NCLT Application for Composite Scheme of Amalgamation and Arrangement

Refex Industries Limited has filed a company application before the Hon'ble NCLT Chennai Bench on March 26, 2026, for a composite scheme of amalgamation and arrangement involving Refex Green Mobility Limited, Refex Industries Limited, and Refex Mobility Limited. This filing follows earlier intimations dated September 22, 2025 and March 17, 2026, and represents a significant corporate restructuring under the Companies Act, 2013. The disclosure has been made in compliance with SEBI Listing Regulations.

17Mar 26

Refex Industries Gets BSE and NSE Approval for Composite Amalgamation Scheme

Refex Industries has secured crucial regulatory milestone with BSE and NSE approval for its composite scheme of amalgamation involving three entities. The scheme involves Reflex Green Mobility as transferor and Reflex Mobility as resulting company, with specific compliance requirements and timeline conditions for implementation pending NCLT approval.

11Mar 26

Refex Industries Appoints MUFG Intime India as Investor Relations Agency

Refex Industries Limited has engaged MUFG Intime India Private Limited as its Investor Relations Agency with immediate effect. The appointment aims to strengthen investor communication, enhance transparency, and improve capital market visibility. MUFG Intime India, part of MUFG Corporate Markets, is a global leader in share ownership analysis, equity market intelligence, and investor communications for listed companies.

06Mar 26

Refex Industries Promoter Refex Holding Acquires 1,00,000 Equity Shares Through Open Market Purchase

Refex Holding Private Limited, promoter of Refex Industries Limited, acquired 1,00,000 equity shares through open market purchase on March 05, 2026. The transaction increased the promoter's shareholding from 55.78% to 55.85% of the total share capital. The acquisition was disclosed under SEBI Regulation 29(2) governing substantial share acquisitions. Refex Industries' equity share capital remains at ₹27,43,98,782 divided into 13,71,99,391 equity shares of ₹2 each.

28Feb 26

Refex Industries: Promoter Pledges Additional 50.46 Lakh Equity Shares

Refex Industries' promoter company Refex Holding Private Limited has pledged an additional 50,45,816 equity shares representing 3.67% of total share capital to Catalyst Trusteeship Limited. This brings the total pledged shares to 2,24,93,733, representing 16.40% of the company's total capital and 41.34% of the promoter's total shareholding of 7,65,23,085 shares.

27Feb 26

Refex Industries Allots 69,859 Equity Shares Under ESOP 2021 Scheme

Refex Industries Limited allotted 69,859 equity shares under its ESOP 2021 scheme on February 27, 2026, increasing its paid-up share capital to ₹27,43,98,782. The company realized ₹25,42,826.40 from the exercise, with shares priced differently across tranches - ₹20.40 and ₹95.00 for time-based options and ₹14.60 for performance-based options. The total number of equity shares now stands at 13,71,99,391, with the newly allotted shares ranking pari-passu with existing equity shares.

19Feb 26

Securities Appellate Tribunal Grants Stay on SEBI Penalty Recovery for Refex Renewables

Refex Renewables & Infrastructure Limited received relief as Securities Appellate Tribunal granted a conditional stay on February 13, 2026, on SEBI penalty recovery imposed on Promoter & Non-Executive Director Anil Jain for alleged insider trading in Refex Industries scrip. The stay requires 50% penalty deposit within four weeks and has no financial impact on the company.

17Feb 26

Refex Industries Secures ₹49.22 Crore Order for Material Handling Operations

Refex Industries Limited has secured a ₹49.22 crore order for material handling and transit operations for bulk commodity material from a Mini Ratna Company. The 3-year domestic contract represents a significant business development, involving comprehensive material handling services. The order does not involve related party transactions and ensures complete transparency with no promoter group interest in the awarding entity.

03Feb 26

Refex Industries Submits Comprehensive Share Encumbrance Disclosure Under SEBI Regulations

Refex Industries Limited has submitted comprehensive updated disclosures regarding share encumbrance by promoter Refex Holding Private Limited, addressing BSE compliance requirements. The promoter pledged additional 45,19,856 shares representing 3.30% of total capital as collateral for subsidiary company financing through debenture issuance, bringing total encumbered shares to 2,65,91,130 (19.40% of capital).

27Jan 26

Refex Industries Reports Strong Q3 FY26 Sequential Recovery with 38% Revenue Growth

Refex Industries Limited reported strong Q3 FY26 sequential recovery with 38% revenue growth to Rs.583 crores, driven by improved ash and coal handling volumes post-monsoon normalization. The company strategically exited low-margin power trading and refrigerant businesses while maintaining robust order books of Rs.1500 crores in ash handling and Rs.1860 crores in wind energy. Demerger of mobility business expected by April 2026.

22Jan 26

Refex Industries Plans Substantial Reduction in Promoter Pledged Shares Over Six Months

Refex Industries announced plans to substantially reduce promoter pledged shares from current 25-26% levels over six months. The guidance was shared during a conference call, indicating management's strategic focus on improving ownership structure. This move typically signals enhanced financial health and reduced leverage pressure on promoter holdings.

22Jan 26

Refex Industries Projects Sustainable EBITDA Margin of 11-12% for Standalone Operations

Refex Industries has announced guidance projecting sustainable EBITDA margins of 11% to 12% for its standalone operations. This guidance was provided during a conference call, offering investors clear expectations for the company's operational profitability and efficiency targets.

22Jan 26

Refex Industries Targets April Completion for Green Mobility Demerger

Refex Industries has announced that the demerger of Refex Green Mobility Limited is expected to be completed by the end of April. This guidance was provided during a recent conference call update, offering stakeholders a clear timeline for the completion of this significant corporate restructuring process.

22Jan 26

Refex Industries Expects Substantial Wind Business Revenue by FY26 End

Refex Industries has shared positive guidance on its wind business segment, expecting substantial revenue generation by FY26 end with deliveries starting February 15th. This strategic update was communicated during the company's conference call, highlighting the wind business as a key revenue contributor and demonstrating management's confidence in the renewable energy segment's growth potential.

22Jan 26

Refex Industries Reports Strong Order Book of ₹1,500 Crores in Ash and Coal Handling Business

Refex Industries management has provided positive guidance for the ash and coal handling business, expecting continued operational momentum in coming quarters. The company's outlook is supported by new ash projects and a substantial open order book of approximately ₹1,500.00 crores, which provides strong revenue visibility and growth prospects for the segment.

21Jan 26

Refex Industries Grants 46,809 Employee Stock Options Under ESOP 2021 Scheme

Refex Industries Limited granted 46,809 Employee Stock Options under its ESOP 2021 scheme on January 21, 2026. The options include time-based options (30%) at ₹170.00 per share and performance-based options (70%) at ₹121.00 per share, with a five-year vesting schedule tied to company performance targets exceeding 105% of Annual Operations Plan objectives.

21Jan 26

Refex Industries Reports 15.3% YoY Growth in Q3 Net Profit to ₹68.00 Crores

Refex Industries achieved a net profit of ₹68.00 crores in Q3, representing a 15.3% year-on-year increase from ₹59.00 crores in the corresponding quarter of the previous year. The positive earnings growth demonstrates the company's operational efficiency and sustained business momentum during the reporting period.

21Jan 26

Catalyst Trusteeship pledges additional 45.20 lakh shares of Refex Industries

Catalyst Trusteeship Limited disclosed pledging an additional 45,19,856 shares of Refex Industries Limited on January 16, 2026, increasing total encumbered shares to 1,74,47,917 (12.73% of share capital). The trustee acts as Debenture Trustee for debenture holders, with the disclosure made under SEBI SAST Regulations. Refex Industries' equity capital remains unchanged at ₹27.43 crore divided into 13.71 crore shares of ₹2 each.

16Jan 26

Refex Industries Schedules Board Meeting for January 21, 2026 to Consider Q3FY26 Financial Results

Refex Industries has scheduled its Board of Directors meeting for January 21, 2026, to consider and approve unaudited standalone and consolidated financial results for Q3 and nine months ended December 31, 2025, of FY 2025-26. The company has maintained a trading window closure for designated persons and insiders since January 1, 2026, which will continue until 48 hours after the financial results publication, ensuring compliance with SEBI insider trading regulations.

09Jan 26

Refex Industries Receives Credit Rating Reaffirmation from Acuité Ratings for ₹300 Crore Bank Facilities

Refex Industries Limited received credit rating reaffirmation from Acuité Ratings for ₹300 crores in bank facilities, with ACUITE A- (Stable) rating for ₹165 crores long-term facilities and ACUITE A2+ rating for ₹135 crores short-term facilities. The reaffirmation reflects improved operating performance, healthy order book of ₹2,524.60 crores, and strong financial profile with revenue growth to ₹2,467.66 crores in FY25 from ₹1,383.43 crores in FY24.

08Jan 26

Refex Industries Secures ₹34.61 Crore NHAI Contract for Pond Ash Transportation

Refex Industries Limited has formally announced securing a major ₹34.61 crore contract from NHAI for comprehensive pond ash management services including excavation, loading, and transportation for road projects. The domestic contract, awarded by a Maharashtra-based entity, is to be completed within 4 months and represents a significant addition to the company's order book in the infrastructure services sector.

07Jan 26

Refex Industries Secures ₹43.74 Crore NHAI Contract Under Regulation 30 Disclosure

Refex Industries has formally disclosed under SEBI Regulation 30 the securing of a ₹43.74 crore contract for comprehensive pond ash services to NHAI road projects. The order from a large business conglomerate includes excavation, loading, transportation, and unloading services with a 4-month execution timeline, representing a significant business opportunity in the infrastructure sector.

19Dec 25

Refex Industries Subsidiary VRPL Secures 148 MW Wind Turbine Generator Contract

Refex Industries' subsidiary Venwind Refex Power Limited has won a significant contract to supply 148 MW wind turbine generators for wind power projects with a leading independent power producer in Tamil Nadu. The contract includes comprehensive supply and technical services, positioning VRPL as a reliable supplier in India's expanding wind energy market.

17Dec 25

NTPC Green Energy Declares 37.925 MW Solar Capacity Commercial at Khavda Project

NTPC Green Energy Limited has declared commercial operation of the fifth part capacity of 37.925 MW from its 300 MW Khavda Solar Energy Project in Gujarat, effective December 18, 2025. This addition increases NTPC Green Energy Group's commercial capacity to 7,889.335 MW and total installed capacity to 7,927.26 MW, while bringing the entire NTPC group's total capacity to 85,541 MW.

16Dec 25

Refex Industries Receives ₹35.29 Lakh CGST Demand Order for FY2021-22

Refex Industries Limited has received a demand order from tax authorities for ₹35.29 lakh for FY2021-22. The order, issued by the Assistant Commissioner, CGST Central Excise, Raipur, includes ₹31.90 lakh in tax and ₹3.39 lakh in penalties. The demand alleges short payment of Reverse Charge Mechanism (RCM) liability. Refex Industries believes the demands are not maintainable due to erroneous filing by a supplier and plans to appeal. The company states this will not materially impact its financials or operations.

15Dec 25

Refex Industries Receives ESG Rating of 70 for FY2025 from NSE Sustainability

Refex Industries Limited received an ESG rating of 70 for FY2025 from NSE Sustainability Ratings & Analytics Limited, up from 69 the previous year. The company scored 61 in Environment, 77 in Social, and 73 in Governance pillars, all categorized as 'Aspiring'. Their Core ESG Rating was 58. Environmental performance showed mixed results with improvements in water and waste intensity but increases in greenhouse gas emissions and energy intensity. Social and Governance pillars demonstrated strengths in workplace safety, employee welfare, and board composition.

15Dec 25

UPL Limited Clarifies Volume Movement Following BSE Inquiry

UPL Limited responded to BSE's inquiry about unusual volume movement in its scrip on December 15, 2025, clarifying that there is no unpublished price-sensitive information requiring disclosure under SEBI regulations. The company attributed the volume movement to market-driven factors and reaffirmed its commitment to regulatory compliance under SEBI LODR Regulations.

14Dec 25

Refex Industries Announces Completion of Income Tax Department Search Operations

Refex Industries Limited announced the completion of Income Tax Department search operations at its registered office and other Refex Group locations. The search, which began on December 9, concluded on December 13 evening. The company stated it provided full cooperation and all requested documents to authorities. No adverse findings have been communicated to Refex Industries following the search. The company assured that its business operations continue normally and it remains committed to ethical conduct and legal compliance.

02Dec 25

Refex Industries' Subsidiary Achieves MNRE Approval for Wind Turbine Manufacturing

Venwind Refex Power Limited (VRPL), a subsidiary of Refex Industries, has been included in the Ministry of New and Renewable Energy's (MNRE) Approved List of Models and Manufacturers (ALMM) for wind turbines. VRPL operates a facility in Silvassa, Gujarat, producing India's largest grid-friendly wind turbine, the GWH 182-5.3MW platform. This approval signifies that VRPL's wind turbine models meet MNRE's quality and performance standards, making them eligible for installation across India. The company's consolidated balance sheet shows significant growth in assets and equity over recent years, indicating a strong financial foundation for this venture.

28Nov 25

Refex Industries Faces ₹10.07 Crore CGST Demand for Alleged Input Tax Credit Violations

Refex Industries Limited has received a demand order of ₹10,06,91,418 from the CGST Raipur Commissionerate for alleged irregularities in Input Tax Credit claims during FY2018-19 and FY2019-20. The order, issued on November 19, 2025, covers the period from April 2018 to March 2020. The demand includes equal parts tax and penalty, each amounting to ₹5,03,45,709. Refex Industries maintains that the order is not maintainable and plans to file an appeal, stating it has no material impact on the company's financials or operations.

27Nov 25

Refex Industries Secures Rs 1 Billion Order for Ash Management Services

Refex Industries Limited has won a domestic contract worth approximately Rs 1 billion for the excavation, loading, and transportation of pond ash and bottom ash. The contract does not involve any related party transactions or promoter group interests. This significant order aligns with India's focus on environmental management in industrial operations and could positively impact the company's revenue prospects.

21Nov 25

Refex Industries' Subsidiary Acquires Engineering Firm for ₹1 Lakh, Strengthening Wind Energy Business

Venwind Refex Power Limited (VRPL), a subsidiary of Refex Industries Limited, is set to acquire 100% equity shareholding in Refex Engineering Products Private Limited (REPPL) for ₹1,00,000 in cash. The acquisition involves 10,000 equity shares at a face value of ₹10 each. REPPL, currently a wholly-owned subsidiary of Refex Holding Private Limited, will become a step-down subsidiary of Refex Industries post-acquisition. This move aims to consolidate the company's wind energy and ancillary business operations, potentially enhancing integration and operational efficiencies. The transaction is expected to be completed within 30 days and complies with applicable laws and regulations.

20Nov 25

Refex Industries Boosts Employee Ownership with 2.74 Lakh Equity Share Allotment

Refex Industries Limited has allotted 2,73,925 equity shares under its Employee Stock Option Scheme (ESOP) 2021. The shares have a face value of ₹2.00 each, raising ₹1.12 crore. This allotment increased the company's paid-up equity share capital from ₹27,37,11,214.00 to ₹27,42,59,064.00, with the total number of shares rising from 13,68,55,607 to 13,71,29,532. The ESOP scheme covers 1,00,00,000 equity shares with a 10-year exercise period from the vesting date. The company implemented a dual-pricing strategy with shares priced at ₹20.40 and ₹95.00 for different tranches.

17Nov 25

Refex Industries Bolsters Investor Relations with Appointment of Gautam Jain as Sr. Vice President

Refex Industries Limited has appointed Mr. Gautam Jain as Sr. Vice President - Investor Relations, effective November 17, 2025. Approved by the Board of Directors, this appointment aims to strengthen the company's investor relations capabilities. Jain brings 20 years of experience in investor relations, corporate strategy, and communications. His expertise includes fund-raising initiatives, managing analyst relations, and interacting with institutional investors. Jain has worked across various sectors including wood panel manufacturing, infrastructure development, and retail/manufacturing. He holds an MBA in Finance from ICFAI Business School, Bangalore.

14Nov 25

Refex Industries Secures INR 65 Crore Contract for Ash Transportation

Refex Industries Limited has won a new contract worth INR 65 crores for transporting pond/fly ash to a National Highways Authority of India (NHAI) Road Project from a State Generation Company. This is the third recent contract for similar work, bringing the total value of these contracts to INR 111.38 crores. The company is playing a key role in utilizing industrial by-products for infrastructure development, aligning with government initiatives for road infrastructure improvement.

13Nov 25

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.