Summary of Proceedings of the 31st Annual General Meeting of Refex Renewables and Infrastructure Limited.
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Refex Renewables & Infrastructure Limited held its 31st AGM on September 18, 2025 via video conferencing, chaired by Managing Director Mr. Kalpesh Kumar. All 6 resolutions were passed with overwhelming shareholder approval (over 99.98% in favour), including adoption of FY25 audited standalone and consolidated financial statements, re-appointment of Mr. Anil Jain and appointment of Mr. Dinesh Kumar Agarwal as Non-Executive Directors, amendments to the ESOP 2022 scheme, and alteration of the Objects clause of the Memorandum of Association. The Chairman highlighted that the company operates 89+ solar sites across 11 states with ~128 MW capacity, secured a 100 MW order from NTPC, and is expanding into Battery Energy Storage Systems. The company has also entered the Compressed Biogas (CBG) segment, with a 30 TPD plant already operating and a 700 TPD project secured through subsidiary Refex Green Power, targeting a 10,000 TPD CBG pipeline and leadership in CBG retail by 2029. The Statutory Auditor's Report on consolidated financials contains a qualification related to two subsidiaries, while the Secretarial Audit Report for FY25 has no qualifications.
All resolutions passed with near-unanimous support, including the ESOP amendment and MoA object clause change, indicating strong shareholder backing for the company's diversification into CBG and BESS segments. The chairman's speech signals revenue decline in the rural segment and a strategic pivot toward higher-growth utility-scale solar, BESS, and CBG businesses.