i. Unaudited Financial Results (including Segment-wise Results) of the Company for the 2nd quarter & half year ended September 30, 2025, of the financial year 2025-26, both on standalone ....
Awaiting price reaction for this filing.
The Board of Refex Renewables & Infrastructure Ltd approved unaudited financial results for Q2 and H1 FY26 (ended September 30, 2025) on a standalone and consolidated basis. On a standalone basis, revenue from operations fell sharply to ₹188 lakhs in Q2 (vs ₹400 lakhs in Q1 and ₹365 lakhs in Q2 FY25), and the company posted a loss after tax of ₹372 lakhs for the quarter, taking the H1 loss to ₹519 lakhs. On a consolidated basis, revenue was ₹1,428 lakhs in Q2 with a much wider loss after tax of ₹1,432 lakhs, driven largely by finance costs of ₹1,154 lakhs and depreciation of ₹494 lakhs. The auditor has flagged a material uncertainty related to going concern for both standalone and consolidated results, as net worth is fully eroded. The consolidated auditor also issued a qualified opinion over ₹449.43 lakhs of unverified subsidiary liabilities and ₹1,125 lakhs of previously written-back liabilities, plus an emphasis of matter on FEMA/RBI non-compliance at a subsidiary. The Board also allotted 1,381 ESOP shares and cleared a postal ballot to change the company's name to 'Ecosphere Sustainable Energy Limited'.
Shareholders should note that the company's standalone net worth is fully eroded, auditor has raised a going concern warning, and losses are widening — though management cites a letter of financial support from a promoter and plans to pursue new business opportunities. The name change to 'Ecosphere Sustainable Energy Limited' and existing liquidity concerns could weigh on investor sentiment, and the postal ballot outcome (by December 11, 2025) will be the next key event.