Refex Industries Ltd

Refex Industries Limited (RIL) has secured two contracts totaling Rs 33.70 crores for loading, transportation, and excavation of fly ash. The contracts, awarded by domestic entities based in Telangana, encompass a scope of supply and services for fly ash loading & transportation with a value of approximately Rs 32.78 crore (including GST) and fly ash excavation valued at approximately Rs 0.91 crore (including GST), both with execution timelines of 120 days. RIL confirmed that neither contract involves related party transactions, nor do promoters or group companies have any interest in the awarding entities.

Refex Industries Limited announced the appointment of Mr. Anil S. Kulkarni as Chief Business Officer – Ready-Mix Concrete (RMC) Division and Mr. Prasad Jakkaraju as Vice President / Head – ESG, effective August 22, 2026, according to a regulatory filing. Mr. Kulkarni brings over 29 years of experience in the Ready-Mix Concrete industry, while Mr. Jakkaraju has over 22 years of experience in sustainability and ESG.

Refex Industries Limited disclosed that its Nomination and Remuneration Committee approved the allotment of 9,100 equity shares of Rs 2 each, following the exercise of employee stock options under the Refex Employee Stock Option Scheme 2021. Consequently, the company's issued, subscribed, and paid-up equity share capital increased to Rs 27,44,57,096, divided into 13,72,28,548 equity shares, from Rs 27,44,38,896 and 13,72,19,448 shares respectively. The exercise of the options generated Rs 4,54,200 for the company.

Refex Industries Limited (RIL) has secured a Slab-wise Rate Contract for Transportation of Ash from a Maharashtra-based entity, with a broad consideration of approximately Rs 40.42 Crore (including GST), to be executed over a 12-month period. The company disclosed the order, which does not involve any related party transactions, in a filing on August 18, 2026, in compliance with SEBI’s Listing Regulations.

Refex Holding Private Limited, a promoter group entity of Refex Industries Limited, has pledged a significant number of shares to secure personal loans for promoters and loans for the company itself, according to a recent filing. The pledges, made between January 2026 and August 2026, involve a total of 45,19,856 to 50,45,816 shares, representing a portion of the promoter holding. Pledgees include Axis Securities Limited, Northern Arc Capital Limited, Catalyst Trusteeship Limited (acting for Touchstone Trust Scheme VI), and Shringee Packaging and Ancilliary Private Limited. Several of the encumbrances are listed as "additional margin pledges," indicating adjustments to initial pledge amounts, and are linked to debentures issued by Refex Life Sciences Private Limited.

Refex Holding Private Limited has pledged a total of 1,65,80,856 shares, representing approximately 12.11% of its total share capital, to various entities between August 2026 and June 2026. The pledges include 20,90,000 shares to Northern Arc Capital Limited and 35,00,000 shares to Axis Securities Limited, both serving as collateral for company loans. Catalyst Trusteeship Limited, acting on behalf of Touchstone Trust Scheme VI, holds 1,35,45,816 shares linked to debentures issued by Refex Life Sciences Private Limited, with additional margin pledges also in place. Notably, a portion of the shares, totaling 35,00,000 to Shringee Packaging and Ancilliary Private Limited and 20,90,000 to Ellenbarrie Industrial Gases Limited, were pledged for personal use by promoters. The document also reveals an asset cover ratio of 0.27, indicating the value of pledged shares relative to the borrowed amount.

Refex Industries Ltd. is down 0.94% to Rs 299.9, after recently rising and increasing 1.75% over the last one week. Refex Industries Limited (RIL) has secured a rate contract worth approximately Rs 27.475 Crore (including GST) from a Maharatna company, a major power producer and Central Public Sector Enterprise, for ash transportation to road construction sites of the National Highways Authority of India (NHAI) and other government road construction departments. The 12-month contract involves excavation, transportation, and unloading of pond ash and was awarded on a domestic basis, with RIL confirming that neither promoters nor group companies have any interest in the awarding entity and that the contract does not constitute a related party transaction. Refex Industries Ltd. shares saw a trading volume of 1.29 lakh today, a decrease of 69.93% from the average one-week volume. Refex Industries Ltd. declined by 20.49% year-over-year, underperforming the NIFTY50 index's loss of 2.37%.

Refex Industries Ltd. is up 1.74% to Rs 298.5, building on recent gains and showing a 1.91% increase over the last one week. Refex Industries Limited (RIL) has secured a Slab-wise Rate Contract from a Maharatna Company, a Major Power Producer, for ash transportation to road project construction sites of the National Highways Authority of India (NHAI) and other government road construction departments. The contract, awarded domestically, involves excavation, transportation, and unloading of pond ash and is valued at approximately Rs 40.83 Crore (including GST), with an execution period of 12 months. The company confirmed that neither promoters, promoter groups, or group companies have any interest in the awarding entity, and the contract does not constitute a related party transaction. Refex Industries Ltd. shares saw a trading volume of 3.01 lakh today, a rise of 9.52% compared to the average volume over the past week. Refex Industries Ltd. softened by 16.74% year-over-year, underperforming the NIFTY50 index's 0.91% loss.

Refex Industries Ltd announced rating actions from Acuité Ratings & Research Limited and ACUITE, covering a range of instruments. Acuité Ratings & Research Limited assigned an ACUITE A rating to Bank Loan Ratings amounting to 206.00, and another Bank Loan Ratings of 4.00 with an ACUITE A1 rating, while also upgrading Bank Loan Ratings of 112.05 and 337.95 to ACUITE A and ACUITE A1, respectively; Acuite noted the ratings are subject to change and further details are available on their website. ACUITE, operating under the oversight of the RBI, assigned an A stable rating to Bank Loan facilities totaling 206.00 and another Bank Loan of 4.00 with an A1 rating, alongside upgrades to Cash Credit (Union Bank of India) of 30.00, Letter of Credit (Union Bank of India) of 170.00, Cash Credit (YES BANK LIMITED) of 50.00, Cash Credit (INDIAN OVERSEAS BANK) of 175.00, Letter of Credit of 170.00, Cash Credit of 50.00, Cash Credit of 175.00, Bank Guarantee (BLR) of 150.00, Term Loan of 26.01, Term Loan of 6.04, Working Capital Demand Loan (WCDL) of 25.00, Term Loan of 6.00, Letter of Credit of 17.95, Letter of Credit of 4.00, all to an A stable rating, and upgrades to Term Loan of 26.01, Term Loan of 6.04, and Letter of Credit of 17.95 from lower ratings.

Refex Industries Limited held meetings of its secured and unsecured creditors on August 5, 2026, as directed by the National Company Law Tribunal (NCLT), to consider a composite scheme of amalgamation and arrangement involving Refex Green Mobility Limited, Refex Industries Limited, and Refex Mobility Limited. Mr. U.K. Sirohi served as the Court-appointed Chairperson, with Mr. Kishore P acting as the Scrutinizer. Directors and officials were present, and voting was conducted via ballot papers for both creditor groups, with results to be submitted to the NCLT.