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INDUSTRIES LIMITEDMain BoardEquity2025-04-012026-03-312026-05-262026-05-20INRLakhsQuarterlyFourth quarterMulti segment2026-05-2611:44:002026-05-2612:15:00trueCash Flow IndirectNot applicable2026-01-012026-03-31AuditedConsolidated934166100039371000938103200075819570000-56971000772420001014940005326700014426100079012500001479782000014797820003722690004773300042000200001059780000-156866000-41537000-1153290000944451000577940001002245000908200000362520009572280004501800027439900027.467.38-0.84-0.846.626.54he above Consolidated audited financial results of the group for the Quarter and year ended 31st March 2026 have been reviewed by the Audit Committee and approved by the Board at their meetings held on 26th May 2026 <BR> <BR> The Statutory auditors of the Company have carried out their audit on the above results for the Quarter and year ended 31st March 2026 <BR> <BR> The financial results of the group have been prepared in accordance with the Indian Accounting Standards INDAS as prescribed u s 133 of the Companies Act 2013 <BR> <BR> The Groups business activities falls into the following segments Ash Coal Handling Business Solar Power Generation and Related Activities Refrigerant Gases Manufacturing Refilling Sale of Services Power Trading Green Mobility Windpower and Other segmentOther segment currently includes solar module trading Unallocable expenditures includes those expenses which are common for the entire enterprise <BR> <BR> Power trading segment has not been a significant profit driver for Refex with low volumes lower margins high compliance costs and limited strategic fit with our core logistics and energy infrastructure strengths Hence the board on its meeting held on August 12 2025 has approved the discontinuation of PowerTrading business subject to all statutory and Regulatory approvalsThis process includes Surrendering the trading license settling all statutory obligations and transparently communicating the rationale for exiting to key stakeholders As a result the activity qualifies as a discontinued operation under Ind AS 105 Accordingly the Company has disclosed the profit from discontinuing operations separately from the profit from continuing operations in the Statement of Profit and Loss <BR> <BR> Further The Board of Directors approved the discontinuation of the Refrigerant Gases business segment at its meeting held on January 21 2026 The segment accounted for approximately 250 of the Companys total revenue and was impacted by operational and financial challenges due to heightened competition and pricing pressures The discontinuation is intended to enable better allocation of management focus and capital towards the Companys core highergrowth businesses thereby improving capital efficiency and longterm value creationAs a result the activity qualifies as a discontinued operation under Ind AS 105 Accordingly the Company has disclosed the profit from discontinuing operations separately from the profit from continuing operations in the Statement of Profit and Loss <BR> <BR> The Board of Directors of the Company at its meeting held on September 22 2025 had approved the draft Composite Scheme of Amalgamation and Arrangement amongst 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 framed thereunder Scheme subject to receipt of requisite regulatory approvals as may be applicable <BR> <BR> The Company has received Observation Letters containing No Adverse Observations from BSE Limited and National Stock Exchange of India Limited on March 16 2026 in relation to the aforesaid Scheme Further the Company has filed the application petition in connection with the Scheme before the Honble NCLT Chennai bench on March 26 2026Accordingly the Company has disclosed the profit from discontinuing operations separately from the profit from continuing operations in the Statement of Profit and Loss <BR> <BR> The details of revenue expenses related to the discontinuing operations Refrigerants Power trading and Green mobility are presented as follows <BR> <BR> Amount in Lakhs <BR> <BR> Particulars <BR> <BR> Quarter ended <BR> <BR> Mar 31 2026 <BR> <BR> Year ended <BR> <BR> Mar 31 2026 <BR> <BR> Revenue from discontinuing operation <BR> <BR> 310249 <BR> <BR> 1349018 <BR> <BR> Total expenses <BR> <BR> 471341 <BR> <BR> 1889700 <BR> <BR> Profit before tax <BR> <BR> 156866 <BR> <BR> 529593 <BR> <BR> Tax expenses <BR> <BR> 41537 <BR> <BR> 142975 <BR> <BR> Profit after tax <BR> <BR> 115329 <BR> <BR> 386618 <BR> <BR> Cash flow from discontinuing operation Refrigerants Power trading and Green mobility for the year ended 31st March 2026 <BR> <BR> Particulars <BR> <BR> Amount in Lakhs <BR> <BR> Cash generated from operating activities <BR> <BR> 346360 <BR> <BR> Cash generated from Investing activities <BR> <BR> 299151 <BR> <BR> Cash generated from Financing activities <BR> <BR> 251596 <BR> <BR> During the quarter the Company had acquired equity shares pursuant to the conversion of Class B Optional Convertible Debentures Class B OCDs issued by Venwind Refex Power Limited VRPL a Subsidiary Company Consequent to such conversion Refex Industries Limited was allotted 24866 equity shares of face value of 10 each in VRPL at a fair valuation determined by a Registered Valuer Accordingly the Companys shareholding in VRPL increased by 411 from 7328 to 7739 as on March 31 2026 <BR> <BR> Subsequent to the closure of Financial Year 202526 VRPL had offered a Rights Issue of equity shares Pursuant to the Companys acceptance of the said Rights Issue VRPL allotted 1712 equity shares of face value of 10 each at a premium of 17513 per share to the Company along with allotment to other shareholders of VRPL on April 25 2026 Consequent to such allotment the Companys shareholding in VRPL changed from 7739 to 7681 <BR> <BR> Thereafter VRPL converted its Class A Optional Convertible Debentures Class A OCDs into equity shares and allotted such equity shares to the respective debenture holders claimants Refex Industries Limited was not a party to the aforesaid transaction Consequent to the said allotment the shareholding of the Company in VRPL was reinstated to 7328 <BR> <BR> A writ petition was filed before the Honble High Court challenging the assessment order dated 31052023 issued by the Deputy Commissioner of Income Tax Central Circle 34 Chennai for Assessment Year 201617 involving a demand of Rs356722 lakhs The writ petition was filed on the grounds that the said assessment order was passed without providing an opportunity of being heard as mandated u s 144A of the Income Tax Act 1961 and no appropriate approval obtained for issuing the notice <BR> <BR> The Honble Madras High Court after considering the submissions has set aside the aforesaid assessment order passed by the Assessing Officer Consequently the tax demand of approximately Rs356722 Lakhs raised pursuant to the said order stands nullified <BR> <BR> The Board of Directors of Refex Industries Limited has recommended a final dividend of Rs1 per equity share having a face value of Rs2 each for the Financial Year 202526 subject to the approval of the shareholders <BR> <BR> Figures for the quarter ended March 31 2026 and March 31 2025 represents the difference between the audited figures of the financial year ended and the published year to date figures upto the third quarter of the relevant financial year <BR> <BR> Figures have been regrouped reclassified restated to make them comparable to the figures wherever necessary <BR> <BR> Figures in brackets are representing negative values2025-04-012026-03-31AuditedConsolidated2276735100025316600023020517000191915570000-760713000384646000320753000199986000379984000197162130003304304000033043040008648090001566700088047600002423828000-529593000-142975000-386618000020372100001141840002151394000203353100036790002126087000253070002743990002018.1817.97-2.9-2.915.2815.07Other Expenses144261000Other Expenses37998400015152930001001970000087164000818720000000063079300063079300011260006145600003031005000760713000088625130001837081000209638200006770370001347301300090335200002326724600021287410000284269920002743990001476712000015041519000442710001508579000028820900055240000084060900017092000332240000890925000133286300004642840000464284000021893020008165005000229954900092950006970750001117092400012793530001334120200028426992000Right of Use asset515729000Other non-current financial assets115064000Other non-current assets614560000Other current financial assets677037000Other current assets9033520000Lease Liability552400000Lease Liability76971000Contract Liability11663000Other financial liabilities2100668000Other current liabilities2299549000Ash & Coal Handling Business 6903679000Refrigerant Gas- Manufacturing(Refilling) and Sales 10365000Green mobility299824000Sale Of Service 77998000Power Trading60000Solar Power - Generation and Related Activities28629000Windpower2331355000Others0Unallocable0Ash & Coal Handling Business 20126690000Refrigerant Gas- Manufacturing(Refilling) and Sales 345508000Green mobility995153000Sale Of Service 148658000Power Trading8357000Solar Power - Generation and Related Activities103699000Windpower2375323000Others12981000Unallocable09651910000241163690003102490001349018000934166100022767351000Ash & Coal Handling Business 1409114000Refrigerant Gas- Manufacturing(Refilling) and Sales 3815000Green mobility-131491000Sale Of Service 18784000Power Trading-706000Solar Power - Generation and Related Activities13328000Windpower168937000Others-37000Unallocable-68221000Ash & Coal Handling Business 3537536000Refrigerant Gas- Manufacturing(Refilling) and Sales -13435000Green mobility-382351000Sale Of Service 36858000Power Trading-4261000Solar Power - Generation and Related Activities43680000Windpower22269000Others1221000Unallocable-26967300014135230002971844000101494000320753000-39371000-25316600013514000002904257000Ash & Coal Handling Business 16380999000Refrigerant Gas- Manufacturing(Refilling) and Sales 16795000Green mobility2124764000Sale Of Service 115272000Power Trading4759000Solar Power - Generation and Related Activities509521000Windpower4849444000Others0Unallocable024001554000442543800028426992000Ash & Coal Handling Business 6384502000Refrigerant Gas- Manufacturing(Refilling) and Sales 397000Green mobility1048801000Sale Of Service 25528000Power Trading2821000Solar Power - Generation and Related Activities618947000Windpower3682743000Others0Unallocable0117637390001666325300028426992000461388000-687626000-22125920000-6007622000000030033570000204564500005989000000-94220000128267500000010856600014452000000-5295930001087910000-204021300012640910000001926810000107141000000000000-6046000000000000000000000000496370000-2124058000-2679021000256380000827517000000005535300000359808000646400003256090000-3100000653528000-9540830000-95408300028161720001862089000Remeasurements of defined benefit plan actuarial gains/ (losses)1142800011428000Remeasurements of defined benefit plan actuarial gains/ (losses)130740001307400000Profit / (Loss) due to cash flow hedge, net of income tax46366000Remeasurements of defined benefit plan actuarial gains/ (losses)046366000Profit / (Loss) due to cash flow hedge, net of income tax101110000Remeasurements of defined benefit plan actuarial gains/ (losses)01011100000057794000114184000