Refex Industries Releases Q1 Results; Board Approves Management Changes amid Segment Restructuring
Refex Industries Limited released its unaudited financial results for the first quarter ending June 30, 2026. The board reviewed and approved both the standalone and consolidated results of the company. These results reflect a strategic shift as the company classifies power trading and refrigerant gas segments as discontinued operations.The Board of Directors held a meeting on Wednesday, July 29, 2026, where it considered the unaudited financial statements along with the limited review reports issued by statutory auditors.
Operational Restructuring and Management Updates
In line with organizational realignment subsequent to the discontinuation of the Refrigerant Gas Business, the Board approved the re-designation of Ms. Lalitha Uthayakumar. As recommended by the Nomination and Remuneration Committee, she will transition from President - Refrigerant Gas Business to General Manager - Accounts, effective August 01, 2026. Consequently, Ms. Uthayakumar will cease to be a Senior Managerial Personnel (SMP) of the Company starting on that date.
The Board had previously approved a draft Composite Scheme of Amalgamation and Arrangement involving Refex Green Mobility Limited, Refex Industries Limited, and Refex Mobility Limited under Sections 230 to 232 of the Companies Act, 2013. Regarding corporate structure moves, Venwind Refex Power Limited (VRPL), a subsidiary, converted unsecured loans from Refex Industries Limited, totaling ₹4,85,03,664, into 276 million equity shares issued at a premium of ₹17.513 per share on April 08, 2026.
Q1 Financial Performance Highlights
The company's Q1 performance across its continuing and discontinuing segments is detailed in the following tables:
| Metric | Standalone Results (Quarter ended Jun 30, 2026) | Consolidated Results (Quarter ended Jun 30, 2026) |
|---|---|---|
| Total Income | 62,725.70 Lakhs | 92,865.50 Lakhs |
| Total Expenses | 52,890.97 Lakhs | 82,810.57 Lakhs |
| Profit before Tax (Continuing Operations) | 9,834.73 Lakhs | 10,054.93 Lakhs |
| Net Profit for the Period (Continuing Operations) | 7,363.78 Lakhs | 7,453.11 Lakhs |
Segmental Breakdown and Discontinuation
The results of both Power Trading and Refrigerant Gases have been classified and disclosed separately as "Discontinued Operations." The performance metrics for the Ash & Coal Handling Business, which remains a key focus, are consistent across filings.
| Segment | Metric | Standalone Q1 (Jun 30, 2026) | Consolidated Q1 (Jun 30, 2026) |
|---|---|---|---|
| Ash & Coal Handling Business | Revenue Net Sales/Income | 61,925.09 Lakhs | 61,049.75 Lakhs |
| PBT (Profit before Tax) | 11,146.90 Lakhs | 11,146.90 Lakhs |
In the consolidated segment overview, while Ash & Coal Handling Business showed solid profitability, other segments including Green Mobility and Windpower were reported with losses in Q1 FY27.
Divestment and Capitalization Activity
The company also disclosed two key corporate actions:
- An allotment of 20,057 equity shares was completed on May 01, 2026, pursuant to the exercise of vested Employee Stock Options (ESOP 2021). This resulted in the issued and paid-up equity share capital increasing to ₹27,44,38,896.
- A tranche of convertible warrants allotted on November 07, 2024, for a total upfront payment of ₹30,68,90,000, were forfeited by the company as the balance consideration was not received within the stipulated period ending May 06, 2026.
REFEX Stock Price Movement
Shares of Refex Industries Limited are tumbling as of 1:48 PM, down by 4.3% to trade at ₹314 amid live market activity. The stock has traded a volume of 2.93 million shares, having ranged between a low of ₹310.15 and a high of ₹344.85 during the session.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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