Financial Performance Summary
Refex Industries Limited reported strong financial results for FY 2025-26 with standalone net profit growing 33% YoY to ₹247.19 crore from continuing operations. Revenue from operations stood at ₹2,430.16 crore for FY26. Consolidated performance showed revenue of ₹2,276.74 million with profit after tax of ₹242.38 million and EPS of ₹18.18 (basic).
Dividend Declaration and AGM Details
The company declared an interim dividend of ₹0.50 per share during the year and recommended a final dividend of ₹1 per share, totaling ₹1.50 per share (75% of face value) for FY26. The 24th Annual General Meeting is scheduled for July 31, 2026, to be held virtually through video conferencing. Record date for dividend eligibility is July 24, 2026, with payment due on or before August 29, 2026.
Business Restructuring and Discontinuation
The Board approved discontinuation of two business segments: Power Trading Business (approved August 12, 2025) and Refrigerant Gases Business (approved January 21, 2026). Both segments have been classified as discontinued operations under Ind AS 105. The company also progressed on its Composite Scheme of Amalgamation involving Refex Green Mobility Limited, Refex Industries Limited, and Refex Mobility Limited, receiving 'No Adverse Observation' from exchanges in March 2026.
Capital Allocation and Corporate Governance
Shareholders will vote at the AGM on reallocating ₹19.07 crore from capital expenditure to working capital needs from the 2024 preferential issue proceeds. The company maintains strong corporate governance with 4 out of 7 Directors being Independent and comprehensive committee structures including Audit, NRC, CSR, Risk Management, and Stakeholders Relationship Committees.
ESG Initiatives and Commitments
Refex published comprehensive ESG disclosures with commitments to become Carbon Neutral by 2035, Net Zero by 2040, Water Positive by 2035, and 100% Circular Economy Enterprise by 2035. The company positively impacted 34,900 beneficiaries in FY26 through various social initiatives including education support and healthcare programs.
Litigation and Regulatory Matters
The company faces ongoing income tax disputes totaling approximately ₹1,351 crore and GST disputes totaling ₹998 crore across various jurisdictions. All material litigations have been appropriately disclosed and provided for in financial statements. Credit ratings were reaffirmed at ACUITE A- (Stable) for long-term facilities and ACUITE A2+ for short-term facilities.
Shareholding and Capital Structure
Promoters hold 55.85% (7.66 crore shares) with public shareholding at 44.15%. During FY26, the company allotted 75,75,000 equity shares to Refex Holding Private Limited upon warrant conversion and 4,42,118 equity shares under ESOP 2021 scheme, increasing paid-up capital from ₹25.84 crore to ₹27.44 crore.