What we do Refex Renewables & Infrastructure Ltd specializes in engineering, procurement, and construction of solar power plants, solar water pumps, and renewable energy solutions across India. |
Founded in 1,994 |
Market share Among leading solar power developers with ~80 sites across 11 states, notable firsts include large-scale projects with government agencies. |
Problem solved Promotes sustainable energy by delivering affordable solar and bio-gas solutions to reduce carbon footprint and energy dependence. |
Top clients or who we serve Industrial, commercial clients, government bodies like Indian Railways and Indian Army; B2B focus primarily in renewable infrastructure. |
Key management Kalpesh Kumar (Managing Director), experienced board including independent directors with strong governance focus. |
Our journey and innovations Pivoted from silicon industry to renewables in 2018; pioneered projects like canal-top solar and battery storage in challenging locations. |
Where we operate Pan-India presence and expanding internationally with subsidiary in Sri Lanka; projects across multiple Indian states. |
Top products or what we offer Solar power plants, solar water pump systems, compressed bio-gas (CBG) plants, and renewable energy maintenance services. |
Top brands Not specified distinct brands; known for landmark solar projects like 1MW Gujarat utility scale, Narmada canal-top project, and railway solar PV projects. |
Raw materials needed - |
Raw materials supplier - |
Recurring vs cyclical contribution Revenue mainly from project execution and service contracts; some recurring from operations & maintenance. |
Our industry position Well positioned as an integrated solar power developer with growing bio-gas segment and strong government partnerships. |
Financial highlights FY25 consolidated revenue Rs. 68 Cr with net loss Rs. 36 Cr; standalone revenue Rs. 18.7 Cr with loss of Rs. 9.2 Cr; investments in growth areas. |
Geographical revenue split Revenue primarily from India with multiple sites across 11 states; no detailed split available. |
Order book - |
Whats driving growth Growth driven by renewable energy demand, innovations in solar and bio-gas, government tenders, and strategic acquisitions. |
Our future plans Expanding CBG capacity with new projects; scaling solar portfolio including 100 MW NTPC project via subsidiary. |
Our green promise Committed to ESG with clean energy projects, waste-to-energy initiatives, and lowering carbon emissions. |
Our people and values Diverse workforce across 80 sites; emphasis on integrity, innovation, and compliance with labor laws and POSH policies. |
Key challenges ahead Managing losses, scaling operations profitably, regulatory changes, and ensuring project execution on schedule. |
Interesting facts First canal-top solar project in Gujarat, first railway solar PV project; diversified into CBG utilizing municipal solid waste. |
Risks and strategy Mitigates financial risks through board oversight; pursuing acquisitions and project diversification to improve margins. |
