The Board, on the recommendation of the Nomination and Remuneration Committee, has designated officials / executives of Refex Group level, as Senior Managerial Personnel of Refex Renewables ....
Awaiting price reaction for this filing.
Refex Renewables & Infrastructure's board approved Q1 FY26 results on August 7, 2025. Standalone revenue rose to ₹400 lakhs (from ₹196 lakhs YoY) but the company reported a loss after tax of ₹147 lakhs; consolidated revenue was ₹1,674 lakhs with a loss of ₹761 lakhs. The auditor flagged a 'going concern' uncertainty as net worth has been fully eroded, and the consolidated report carries a qualified opinion on ₹449.43 lakhs of unverified liabilities in two subsidiaries. The board also approved altering the Objects Clause of the MOA to enter the organic/bio-fertilizer business under the 'Biodhanic' brand, diversifying beyond solar. Nine senior managerial personnel were designated from Refex Group level across HR, finance, legal, IT, ESG, and communications. The 31st AGM is scheduled for September 18, 2025.
Shareholders should note the serious going-concern flag and fully eroded net worth, partially mitigated by a promoter letter of financial support and the new fertilizer business line. The diversified business entry could open a new revenue stream, but execution risk and the qualified auditor opinion may weigh on investor sentiment in the short term.