Disclosure under Regulation 30 and 33 of Securities and Exchange Board of India (ListingObligations and Disclosure Requirements) Regulations, 2015, as amended ( SEBI ListingRegulations ) - Outcome of the meeting of the Board of Directors held on November 04, 2025
REFEX · price
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Refex Industries reported its Q2 FY26 results (quarter ended Sep 30, 2025). On a standalone basis, revenue from operations was ₹42,321 lakhs (vs ₹42,799 lakhs in Q2 FY25, broadly flat), while net profit from continuing operations jumped ~54% to ₹5,209 lakhs (vs ₹3,371 lakhs), with EPS of ₹4.03. For H1 FY26, standalone revenue declined ~22% YoY to ₹78,847 lakhs, but continuing-ops net profit still rose ~22% to ₹8,523 lakhs. On a consolidated basis, Q2 net profit from continuing operations grew ~37% YoY to ₹4,529 lakhs. The Board classified its Power Trading and Green Mobility segments as discontinued operations (Ind AS 105) and approved a composite scheme of amalgamation involving Refex Green Mobility, Refex Industries and the newly formed Refex Mobility Limited. It also completed the second tranche of preferential allotment to promoter Refex Holding Pvt Ltd – 75.75 lakh shares at ₹125 each, raising ₹94.68 crore on Oct 3, 2025. The statutory auditor (AB CD & Co LLP) issued an unmodified limited review, with an 'Other Matter' paragraph highlighting the discontinued operations.
Profitability is strengthening sharply on a continuing-ops basis despite a sharp drop in reported revenue, which mainly reflects the reclassification of two business segments as discontinued rather than an actual business slowdown – investors should look at continuing-ops numbers for the true picture. The strategic exit from loss-making Power Trading and Green Mobility businesses, along with the capital infusion from the promoter, is a positive structural signal for shareholders, though short-term optics may be impacted by the large swing in reported topline.