Integrated Filing — IndAS

General information about company

Scrip Code	532884
NSE Symbol	REFEX
MSEI Symbol	NOTLISTED
ISIN	INE056I01025
Name of company	REFEX INDUSTRIES LIMITED
Type of company	Main Board
Class of security	Equity
Date of start of financial year	01-04-2026
Date of end of financial year	31-03-2027
Date of board meeting when results were approved	29-07-2026
Date on which prior intimation of the meeting for considering financial results was informed to the exchange	23-07-2026
Description of presentation currency	INR
Level of rounding used in financial results	Lakhs
Reporting Type	Quarterly
Reporting Quarter	First quarter
Nature of report standalone or consolidated	Consolidated
Whether results are audited or unaudited for the quarter ended	Unaudited
Whether results are audited or unaudited for the Year to date for current period ended/year ended
Segment Reporting	Multi segment
Description of single segment
Start date and time of board meeting	29-07-2026 11:39:00
End date and time of board meeting	29-07-2026 12:30:00
Whether cash flow statement is applicable on company
Type of cash flow statement
Declaration of unmodified opinion or statement on impact of audit qualification	Not applicable

Financial Results Ind-AS

Amount in (Lakhs)

Particulars		3 months/ 6 months ended (dd-mm-yyyy)	Year to date figures for current period ended (dd-mm-yyyy)
A	Date of start of reporting period	01-04-2026	01-04-2026
B	Date of end of reporting period	30-06-2026	30-06-2026
C	Whether results are audited or unaudited	Unaudited	Unaudited
D	Nature of report standalone or consolidated	Consolidated	Consolidated
1	Income
	Revenue from operations	91,630.51	91,630.51
	Other income	1,234.99	1,234.99
	Total income	92,865.50	92,865.50
2	Expenses
(a)	Cost of materials consumed	82,829.73	82,829.73
(b)	Purchases of stock-in-trade	0.00	0.00
(c)	Changes in inventories of finished goods, work-in-progress and stock-in-trade	(5,265.27)	(5,265.27)
(d)	Employee benefit expense	1,077.82	1,077.82
(e)	Finance costs	1,292.06	1,292.06
(f)	Depreciation, depletion and amortisation expense	583.04	583.04
(f)	Other Expenses
1	Other Expenses	2,293.19	2,293.19
	Total other expenses	2,293.19	2,293.19
	Total expenses	82,810.57	82,810.57
3	Total profit before exceptional items and tax	10,054.93	10,054.93
4	Exceptional items	0.00	0.00
5	Total profit before tax	10,054.93	10,054.93
6	Tax expense
7	Current tax	2,584.66	2,584.66
8	Deferred tax	17.16	17.16
9	Total tax expenses	2,601.82	2,601.82
10	Net movement in regulatory deferral account balances related to profit or loss and the related deferred tax movement	0.00	0.00
11	Net Profit Loss for the period from continuing operations	7,453.11	7,453.11
12	Profit (loss) from discontinued operations before tax	(1,393.77)	(1,393.77)
13	Tax expense of discontinued operations	(396.14)	(396.14)
14	Net profit (loss) from discontinued operation after tax	(997.63)	(997.63)
15	Share of profit (loss) of associates and joint ventures accounted for using equity method	0.00	0.00
16	Total profit (loss) for period	6,455.48	6,455.48
17	Other comprehensive income net of taxes	(791.66)	(791.66)
18	Total Comprehensive Income for the period	5,663.82	5,663.82
19	Total profit or loss, attributable to
	Profit or loss, attributable to owners of parent	6,379.73	6,379.73
	Total profit or loss, attributable to non-controlling interests	75.75	75.75
20	Total Comprehensive income for the period attributable to
	Comprehensive income for the period attributable to owners of parent	5,799.87	5,799.87
	Total comprehensive income for the period attributable to owners of parent non-controlling interests	(136.05)	(136.05)
21	Details of equity share capital
	Paid-up equity share capital	2,744.39	2,744.39
	Face value of equity share capital	2	2
27	Details of debt securities
22	Reserves excluding revaluation reserve
23	Earnings per share
i	Earnings per equity share for continuing operations
	Basic earnings (loss) per share from continuing operations	5.38	5.38
	Diluted earnings (loss) per share from continuing operations	5.32	5.32
ii	Earnings per equity share for discontinued operations
	Basic earnings (loss) per share from discontinued operations	-0.73	-0.73
	Diluted earnings (loss) per share from discontinued operations	-0.73	-0.73
ii	Earnings per equity share
	Basic earnings (loss) per share from continuing and discontinued operations	4.65	4.65
	Diluted earnings (loss) per share from continuing and discontinued operations	4.59	4.59
24	Debt equity ratio
25	Debt service coverage ratio
26	Interest service coverage ratio
27	Disclosure of notes on financial results		Textual Information(1)

Disclosure of notes on financial results

Textual Information(1)	The above Consolidated unaudited financial results of the Group for the quarter ended 30 June 2026 have been reviewed by the Audit Committee and approved by the Board at their meetings held on 29 July 2026 The Statutory Auditors of the Company have carried out their limited review of the above results for the quarter ended 30 June 2026 The financial results of the Group have been prepared in accordance with the Indian Accounting Standards Ind AS prescribed under Section 133 of the Companies Act 2013 The Group business activities fall into the following segments Ash and Coal Handling Business and Other segment which currently includes Refrigerant Gases Manufacturing and Refilling discontinued operations Power Trading discontinued operations Solar Module Trading Solar Power Generation and Related Activities Sale of Services Green Mobility Wind Power and Unallocable Expenditure which are common for the entire enterprise The Board approved the discontinuation of the Power Trading and Refrigerant Gases business segments to strengthen focus on the Company core higher growth businesses Accordingly both these segments have been classified as discontinued operations under Ind AS 105 and their results have been disclosed separately in the Statement of Profit and Loss under Profit from Discontinued Operations The Board of Directors of the Company at its meeting held on 22 September 2025 approved the draft Composite Scheme of Amalgamation and Arrangement among Refex Green Mobility Limited Transferor Company or RGML Refex Industries Limited Transferee Company or Demerged Company or RIL and Refex Mobility Limited Resulting Company or RML and their respective shareholders and creditors under Sections 230 to 232 and other applicable provisions of the Companies Act 2013 read with the rules made thereunder subject to receipt of the required regulatory approvals The Company received Observation Letters containing No Adverse Observations from BSE Limited and National Stock Exchange of India Limited on 16 March 2026 in relation to the Scheme Further the Company filed the application and petition in connection with the Scheme before the Honble National Company Law Tribunal Chennai Bench on 26 March 2026 Accordingly the Company has disclosed the profit from discontinued operations separately from the profit from continuing operations in the Statement of Profit and Loss Further the Honble National Company Law Tribunal Chennai Bench by its order dated 18 June 2026 directed the Company to convene the meetings of Equity Shareholders Secured Creditors and Unsecured Creditors on 05 August 2026 The details of revenue and expenses related to the discontinued operations Refrigerants Power Trading and Green Mobility are presented as follows Revenue from discontinued operations 1.64 Total expenses 1395.41 Loss before tax -1393.77 Tax benefit -396.14 Loss after tax -997.63 During the quarter the Company did not grant any Employee Stock Options under the Refex Employee Stock Option Scheme 2021 ESOP 2021 However the Company allotted 20057 equity shares of face value Rs 2 each pursuant to the exercise of vested Employee Stock Options by eligible employees under ESOP 2021 on 01 May 2026 Consequently the issued and paid up equity share capital of the Company increased to Rs 274438896 On 07 November 2024 the Company allotted 11170000 convertible warrants on a preferential basis at an issue price of Rs 468 per warrant including face value of Rs 2 each to certain persons belonging to the promoter and promoter group and non promoter category In accordance with the applicable provisions of the Securities and Exchange Board of India Issue of Capital and Disclosure Requirements Regulations 2018 twenty five percent of the issue price was received upfront at the time of allotment and the balance seventy five percent was payable within eighteen months from the date of allotment As the balance consideration towards the warrants was not received within the stipulated period ending 06 May 2026 the warrants lapsed upon expiry of the exercise period Consequently the upfront amount received on such warrants aggregating to Rs 1306890000 has been forfeited by the Company in accordance with the applicable provisions of the SEBI ICDR Regulations Previous period figures have been regrouped reclassified or restated wherever necessary to make them comparable with the current period figures Figures shown in brackets represent negative values

Textual Information(1)

The above Consolidated unaudited financial results of the Group for the quarter ended 30 June 2026 have been reviewed by the Audit Committee and approved by the Board at their meetings held on 29 July 2026 The Statutory Auditors of the Company have carried out their limited review of the above results for the quarter ended 30 June 2026 The financial results of the Group have been prepared in accordance with the Indian Accounting Standards Ind AS prescribed under Section 133 of the Companies Act 2013 The Group business activities fall into the following segments Ash and Coal Handling Business and Other segment which currently includes Refrigerant Gases Manufacturing and Refilling discontinued operations Power Trading discontinued operations Solar Module Trading Solar Power Generation and Related Activities Sale of Services Green Mobility Wind Power and Unallocable Expenditure which are common for the entire enterprise The Board approved the discontinuation of the Power Trading and Refrigerant Gases business segments to strengthen focus on the Company core higher growth businesses Accordingly both these segments have been classified as discontinued operations under Ind AS 105 and their results have been disclosed separately in the Statement of Profit and Loss under Profit from Discontinued Operations The Board of Directors of the Company at its meeting held on 22 September 2025 approved the draft Composite Scheme of Amalgamation and Arrangement among Refex Green Mobility Limited Transferor Company or RGML Refex Industries Limited Transferee Company or Demerged Company or RIL and Refex Mobility Limited Resulting Company or RML and their respective shareholders and creditors under Sections 230 to 232 and other applicable provisions of the Companies Act 2013 read with the rules made thereunder subject to receipt of the required regulatory approvals The Company received Observation Letters containing No Adverse Observations from BSE Limited and National Stock Exchange of India Limited on 16 March 2026 in relation to the Scheme Further the Company filed the application and petition in connection with the Scheme before the Honble National Company Law Tribunal Chennai Bench on 26 March 2026 Accordingly the Company has disclosed the profit from discontinued operations separately from the profit from continuing operations in the Statement of Profit and Loss Further the Honble National Company Law Tribunal Chennai Bench by its order dated 18 June 2026 directed the Company to convene the meetings of Equity Shareholders Secured Creditors and Unsecured Creditors on 05 August 2026 The details of revenue and expenses related to the discontinued operations Refrigerants Power Trading and Green Mobility are presented as follows Revenue from discontinued operations 1.64 Total expenses 1395.41 Loss before tax -1393.77 Tax benefit -396.14 Loss after tax -997.63 During the quarter the Company did not grant any Employee Stock Options under the Refex Employee Stock Option Scheme 2021 ESOP 2021 However the Company allotted 20057 equity shares of face value Rs 2 each pursuant to the exercise of vested Employee Stock Options by eligible employees under ESOP 2021 on 01 May 2026 Consequently the issued and paid up equity share capital of the Company increased to Rs 274438896 On 07 November 2024 the Company allotted 11170000 convertible warrants on a preferential basis at an issue price of Rs 468 per warrant including face value of Rs 2 each to certain persons belonging to the promoter and promoter group and non promoter category In accordance with the applicable provisions of the Securities and Exchange Board of India Issue of Capital and Disclosure Requirements Regulations 2018 twenty five percent of the issue price was received upfront at the time of allotment and the balance seventy five percent was payable within eighteen months from the date of allotment As the balance consideration towards the warrants was not received within the stipulated period ending 06 May 2026 the warrants lapsed upon expiry of the exercise period Consequently the upfront amount received on such warrants aggregating to Rs 1306890000 has been forfeited by the Company in accordance with the applicable provisions of the SEBI ICDR Regulations Previous period figures have been regrouped reclassified or restated wherever necessary to make them comparable with the current period figures Figures shown in brackets represent negative values

Remarks

Debt equity ratio
Debt service coverage ratio
Interest service coverage ratio

Format for Reporting Segment wise Revenue, Results and Capital Employed along with the company results

Amount in (Lakhs)

Particulars		3 months/ 6 month ended (dd-mm-yyyy)	Year to date figures for current period ended (dd-mm-yyyy)
Date of start of reporting period		01-04-2026	01-04-2026
Date of end of reporting period		30-06-2026	30-06-2026
Whether results are audited or unaudited		Unaudited	Unaudited
Nature of report standalone or consolidated		Consolidated	Consolidated
1	Segment Revenue (Income)
	(net sale/income from each segment should be disclosed)
1	Ash & Coal Handling Business	61,049.75	61,049.75
2	Green Mobility	3,297.11	3,297.11
3	Wind Power	29,705.41	29,705.41
4	All other segments	0.0087699	0.0087699
	Total Segment Revenue	94,929.26	94,929.26
	Less: Inter segment revenue	0.00	0.00
	Revenue from operations	94,929.26	94,929.26
2	Segment Result
	Profit (+) / Loss (-) before tax and interest from each segment
1	Ash & Coal Handling Business	11,146.90	11,146.90
2	Green Mobility	(1,360.79)	(1,360.79)
3	Wind Power	(34.25)	(34.25)
4	All other segments	(1,033.63)	(1,033.63)
	Total Profit before tax	8,718.23	8,718.23
	i. Finance cost	1,292.06	1,292.06
	ii. Other Unallocable Expenditure net off Unallocable income	(1,234.99)	(1,234.99)
	Profit before tax	8,661.16	8,661.16
3	(Segment Asset - Segment Liabilities)
	Segment Asset
1	Ash & Coal Handling Business	0.00	0.00
2	Green Mobility	0.00	0.00
3	Wind Power	0.00	0.00
4	All other segments	0.00	0.00
	Total Segment Asset	0.00	0.00
	Un-allocable Assets	0.00	0.00
	Net Segment Asset	0.00	0.00
4	Segment Liabilities
	Segment Liabilities
1	Ash & Coal Handling Business	0.00	0.00
2	Green Mobility	0.00	0.00
3	Wind Power	0.00	0.00
4	All other segments	0.00	0.00
	Total Segment Liabilities	0.00	0.00
	Un-allocable Liabilities	0.00	0.00
	Net Segment Liabilities	0.00	0.00
	Disclosure of notes on segments

Other Comprehensive Income

Amount in (Lakhs)

Particulars		3 months/ 6 months ended (dd-mm-yyyy)	Year to date figures for current period ended (dd-mm-yyyy)
A	Date of start of reporting period	01-04-2026	01-04-2026
B	Date of end of reporting period	30-06-2026	30-06-2026
C	Whether results are audited or unaudited	Unaudited	Unaudited
D	Nature of report standalone or consolidated	Consolidated	Consolidated
	Other comprehensive income [Abstract]
1	Amount of items that will not be reclassified to profit and loss
	Total Amount of items that will not be reclassified to profit and loss
2	Income tax relating to items that will not be reclassified to profit or loss	0.00	0.00
3	Amount of items that will be reclassified to profit and loss
1	Remeasurements of defined benefit plan actuarial gains/ (losses)	1.00	1.00
2	Loss due to cash flow hedge, net of income tax	(792.66)	(792.66)
	Total Amount of items that will be reclassified to profit and loss	(791.66)
4	Income tax relating to items that will be reclassified to profit or loss	0.00	0.00
5	Total Other comprehensive income	(791.66)	(791.66)