Refex Industries Limited announced its audited financial results for the quarter and financial year ended March 31, 2025.
Consolidated Performance (FY25 vs FY24):
Net Profit attributable to owners for FY25 was ₹158.78 Crore, a significant increase from ₹93.87 Crore in FY24.
Total Income for FY25 stood at ₹2,518.02 Crore, up from ₹1,400.99 Crore in FY24.
Revenue from Operations for FY25 was ₹2,467.66 Crore, compared to ₹1,382.87 Crore in FY24.
Basic Earnings Per Share (EPS) was ₹12.93 for FY25, up from ₹8.40 in FY24.
Standalone Performance (FY25 vs FY24):
Net Profit for FY25 was ₹189.41 Crore, an 88% rise from ₹100.95 Crore in FY24.
Total Income for FY25 was ₹2,482.51 Crore, up from ₹1,388.70 Crore in FY24.
Revenue from Operations for FY25 was ₹2,430.02 Crore, compared to ₹1,370.56 Crore in FY24.
Basic EPS was ₹15.46 for FY25, up from ₹9.12 in FY24.
Quarterly Performance (Q4 FY25 vs Q4 FY24):
Consolidated Net Profit attributable to owners for Q4 FY25 was ₹48.32 Crore on total income of ₹643.88 Crore.
Standalone Net Profit for Q4 FY25 was ₹57.09 Crore on total income of ₹629.07 Crore.
Key Developments & Notes:
Completed preferential allotments in FY25, utilizing ₹469.88 Crore towards specified objects.
Realized a gain of ₹10.51 Crore and recorded an unrealized gain of ₹19.91 Crore from the redemption of RKG units.
Allotted 2,94,530 equity shares on January 13, 2025, and 29,285 shares in July 2024 upon exercise of ESOPs.
Received GST demand orders dated March 28 & 29, 2025, totaling ₹29.32 Crore (excluding interest) and a penalty of ₹71.16 Lakhs for FY 2018-19 to FY 2020-21. The company believes the demands are not maintainable and intends to appeal.
Capitalized borrowing costs of ₹372.39 Lakhs related to building construction during the year.
Received release of a corporate guarantee of ₹22 Crore from State Bank of India and satisfied a Credit Facility (LC) of ₹50 Crore from HDFC Bank.
Incorporated subsidiary Venwind Refex Power Ltd (Windpower) on December 20, 2024, and step-down subsidiary Venwind Refex Power Services Ltd (O&M) on February 24, 2025. The latter signed a term sheet for supplying WTGs, towers, and O&M for a 153.7 MW wind project.
Subsidiary Refex Green Mobility Ltd mutually called off a proposed EV asset takeover.
Decided to phase out airport-based EV taxi services in Bengaluru, expected to save ₹6.82 Crore per annum in fixed commitment charges.
The Board adopted a Risk Management Policy and approved amendments to the Remuneration Policy, Policy on determining the Material Subsidiary, Policy on Related Party Transactions, and Policy on determination of Materiality of Event or Information.
The results and amended policies will be available on the company's website.