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📋 Filing Types Available on ForgeUp Filings Sourced from BSE corporate announcements (equity segment). Companies covered are BSE-listed and most are also listed on NSE. We show only material filings.
Financial Results Orders Dividend Buyback Merger / Acquisition Board Meeting Outcome Fundraise (QIP / Rights / FPO) Regulatory / Court Order Credit Rating Change Promoter Pledge Update Management Change Joint Venture / MOU Delisting Bonus Shares Stock Split
Data sourced from BSE India corporate announcements. More categories will be added over time.
Refex Renewables & Infrastructure Ltd

Refex Renewables & Infrastructure Q2 FY27 Results; Reports Profit Amidst Net Worth Erosion

RESULTS ▼ Concern Flagged HIGH RISK
📅 Filed on BSE: 04 Nov 2026, 04:52 PM IST  ·  BSE ID: 55b951d9-8169-4bb4-8af2-21858b3d67b5
View Original BSE Filing (PDF)
💡
In Simple Terms
The company reported a profit for the quarter, but its total value of assets minus liabilities is now negative.
🤖 AI Summary
  • Refex Renewables & Infrastructure reported a standalone profit after tax of INR lakhs 88 for Q2 FY27.
  • Total standalone income for the quarter ended September 30, 2026, stood at INR lakhs 191.
  • The company's net worth is fully eroded as of September 30, 2026, as noted by auditors.
  • Exceptional items of INR lakhs 553, from write-back of liabilities and gain on subsidiary sale, supported Q2 FY27 profit.
  • The company completed the transfer of its entire shareholding in Ishaan Solar Power Private Limited for INR 3,92,58,420.
🔢 Key Numbers - exact figures from BSE filing, not rounded
Standalone Profit/(Loss) After Tax Q2 FY27
INR lakhs 88
Not comparable — limited prior period data.
Standalone Revenue from Operations Q2 FY27
INR lakhs 188
Not comparable — limited prior period data.
Standalone Total Income Q2 FY27
INR lakhs 191
Not comparable — limited prior period data.
Exceptional Items Q2 FY27
INR lakhs 553
Total Equity (Net Worth) as at 30 September 2026
INR lakhs (6,705)
Total Borrowings as at 30 September 2026
INR lakhs 7,190
🏢 How This Affects the Company
📈
Business Impact
The sale of Ishaan Solar Power Private Limited and SEI Tejas Private Limited indicates a restructuring of the company's subsidiary portfolio.
💰
Financial Impact
Q2 FY27 profit after tax of INR lakhs 88 improves from the previous quarter's loss, but the company's net worth remains fully eroded as of September 30, 2026. Non-current investments decreased from INR lakhs 602 to INR lakhs 256.
⚠️
Risk Impact
The auditor noted a material uncertainty related to the company's ability to continue as a going concern due to the fully eroded net worth. This is partially mitigated by a letter of support from a promoter shareholder.
👥 What This Means For Shareholders
✅
Action Required
No immediate action is required from shareholders based on this filing.
👤
Who Is Affected
All shareholders are affected by the company's reported fully eroded net worth, which indicates significant financial challenges, although a Q2 FY27 profit was reported.
🔍
Management Signal
Management intends to pursue new business opportunities and has secured financial support from a promoter, signaling efforts to address the going concern risk.

For information only. Not investment advice. ForgeUp is not SEBI-registered.

👁 Watch List - track these upcoming events
Q3 FY27 financial results — assess sustained profitability and debt reduction efforts.
Updates on new business opportunities — evaluate impact on revenue and net worth.
Changes in promoter shareholding or support — monitor for further financial backing.
HIGH RISK The company's net worth is fully eroded, posing a material uncertainty to its going concern status.
💡 Investor Takeaway
Refex Renewables & Infrastructure reported a standalone profit after tax of INR lakhs 88 for Q2 FY27. However, the company's net worth is fully eroded as of September 30, 2026, creating a material uncertainty about its ability to continue as a going concern, despite promoter support.
⚖️ Strengths & Concerns

✅ Positives

  • Refex Renewables & Infrastructure reported a standalone profit after tax of INR lakhs 88 in Q2 FY27, improving from a loss in Q1 FY27.
  • Exceptional items of INR lakhs 553, including gains from subsidiary sale and liability write-back, bolstered Q2 FY27 results.

⚠️ Concerns

  • The company's net worth is fully eroded as of September 30, 2026, indicating a material uncertainty about its going concern ability.
  • Standalone total income for Q2 FY27 is INR lakhs 191, representing a decrease from INR lakhs 269 in Q1 FY27.
📅 Company Track Record
Refex Renewables & Infrastructure reported unaudited financial results for Q1 FY27 on August 4, 2026, where the Board approved Q1 results, re-appointed the MD, and redeemed ₹10.50 Crores in NCDs. This current filing for Q2 FY27 shows a shift from a loss to a profit after tax.

Based on publicly available historical data. For context only.

❓ Frequently Asked Questions
What was Refex Renewables & Infrastructure's standalone profit in Q2 FY27?
Refex Renewables & Infrastructure reported a standalone profit after tax of INR lakhs 88 for the quarter ended September 30, 2026 (Q2 FY27).
What was the company's total standalone income for Q2 FY27?
The company's total standalone income for Q2 FY27 was INR lakhs 191.
What is the status of Refex Renewables & Infrastructure's net worth as of September 30, 2026?
As of September 30, 2026, the company's net worth is fully eroded, with Total Equity reported as INR lakhs (6,705).
What contributed to the exceptional items in Q2 FY27?
Exceptional items of INR lakhs 553 in Q2 FY27 are attributed to write-back of liabilities, gain on sale of trademark, and gain on sale of an entire stake in a non-profitable subsidiary.
Which subsidiaries did Refex Renewables & Infrastructure transfer its stake in?
The company transferred its entire shareholding in Ishaan Solar Power Private Limited for INR 3,92,58,420, and consequently, SEI Tejas Private Limited also ceased to be a subsidiary.

Questions based on this BSE filing only. For information purposes.

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⚠️ For Information Only - Not Investment Advice
ForgeUp Filings provides AI-generated summaries of public BSE exchange announcements (equity segment) for informational purposes only. Nothing here constitutes investment advice or a recommendation to buy, sell, or hold any security. ForgeUp is not a SEBI-registered investment advisor. All financial numbers are sourced directly from BSE filings and shown as-is. Past data is historical only. Please consult a qualified financial advisor before making investment decisions. Data sourced from BSE India public disclosures.
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