Consolidated Scrutinizer''s Report dated September 18, 2025, on e-voting done by the shareholders on 06 resolutions passed at the 31st Annual General Meeting of Refex Renewables and Infrastructure ....
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Refex Renewables & Infrastructure held its 31st AGM on September 18, 2025 via video conferencing, where shareholders passed all 6 resolutions with overwhelming majority. Resolutions 1-5 (including FY25 financial statements, director appointments/re-appointments, and ESOP 2022 amendments) received 19,79,460 votes in favor (99.999%), while Resolution 6 (alteration of the Objects clause of the Memorandum of Association) received 19,79,060 votes in favor (99.98%) with 401 votes against. The Chairman highlighted operating 89+ sites across 11 states with ~128 MW capacity, a 100 MW NTPC order, entry into compressed biogas (CBG) with 700 TPD of new Tamil Nadu projects, and a target of 10,000 TPD CBG pipeline to become India's largest CBG retail player by 2029. The company acknowledged FY25 revenue declined versus FY24, with rural segment revenue dropping to less than half of last year.
All resolutions sailed through with near-unanimous support, signaling strong shareholder confidence. The ESOP amendment and Objects clause alteration open room for fresh equity dilution and entry into new business areas respectively, while the focus on CBG and solar expansion signals long-term growth ambitions despite near-term revenue softness.