Disclosure under Regulation 30 of Securities and Exchange Board of India (ListingObligations and Disclosure Requirements) Regulations, 2015, as amended SEBI ListingRegulations) - Discontinuation of Power Trading Business Segment:
REFEX · price
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The Board approved Refex Industries' Q1 FY26 results on a standalone and consolidated basis. Standalone revenue from operations fell sharply to ₹36,525.55 lakhs (vs ₹58,547.09 lakhs in Q1 FY25), a YoY drop of about 38%, while net profit from continuing operations stood at ₹3,314.26 lakhs (vs ₹3,595.58 lakhs). The Board declared a 1st interim dividend of ₹0.50 per equity share (25% of ₹2 face value) for FY26, with record date August 19, 2025 and payment on or before September 11, 2025. Nine senior managerial personnel were appointed across HR, finance, legal, technology, ESG, and operations functions. The Board also approved discontinuation of the Power Trading segment, which contributed only 4.48% of FY25 revenue and ₹677.35 lakhs of net worth, citing compressed trading margins (from ₹0.07/unit to ~₹0.02/unit) and high compliance costs, with closure expected by March 31, 2026.
The steep YoY revenue decline is a red flag, though most of the fall appears in the discontinued/trading line. The dividend declaration signals continued shareholder returns, and exiting a small, loss-making, high-compliance segment should be marginally positive for overall margins going forward.