This micro-cap solar stock engaged in providing solar energy solutions, including EPC services for solar projects, promoting clean and sustainable power, is in focus after securing an order worth Rs. 79 crore for establishing a 250 TPD Municipal Solid Waste-based Bio-CNG plant.
Stock Price Movement:
With a market capitalization of Rs. 278.34 crore, the shares of Refex Renewables and Infrastructure Limited were currently trading at Rs. 619 per equity share, down nearly 4.45 percent from its previous day’s close price of Rs. 647.85.
What Happened:
Refex Green Power Limited, a wholly owned subsidiary of Refex Renewables and Infrastructure Limited, has secured a tender from the Coimbatore Municipal Corporation for establishing a 250 TPD Municipal Solid Waste-based Bio-CNG plant. The project will be executed under the PPP model on a Design, Build, Finance, Operate, and Transfer (DBFOT) basis for 20 years.
The estimated project cost is Rs. 78.54 Crore, with the full plant commissioning scheduled within 19 months from the Concession Agreement signing. This achievement reinforces Refex’s commitment to sustainable waste management and energy solutions, contributing to the Swachh Bharat Mission.
Service Offerings:
The company specializes in the engineering, procurement, and construction (EPC) of solar power systems. Its expertise spans ground-mounted solar plants, rooftop installations, solar water pumps, and home systems. The company also develops large-scale projects for industrial, commercial, and government clients, driving sustainable energy solutions.
Geographical Presence:
The company has a strong market presence across 80 sites in 11 Indian states. It is recognized as one of the leading solar power developers in the country, known for its innovative approach and commitment to sustainable, eco-friendly energy solutions.
Recent Projects:
Refex Renewables and Infrastructure Limited has delivered key projects, including a 1 MW utility-scale plant in Gujarat, a Canal Top Solar Project on the Narmada River, a Railway Solar PV Project in Haryana, and a 68 MW ground-mounted project for Indian Railways near Raipur.
Recent quarter results:
Refex Renewables and Infrastructure Limited’s revenue has decreased from Rs. 21 crore in Q3 FY24 to Rs. 16 crore in Q3 FY25, which has decreased by 23.81 percent. The net loss of the company has reduced from Rs. -11 crore in Q3 FY24 to Rs. -10 crore in Q3 FY25.
Written By – Nikhil Naik
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