Refex Industries Limited (NSE/BSE: REFEX), the diversified industrial conglomerate founded and led by Anil Jain, has reported its strongest-ever quarterly financial results for Q4 FY26, while formally closing the chapter on the Income Tax Department search operations of December 2025  which concluded with no adverse findings and no official statements issued by any authority."

 

MANAGEMENT STATEMENT

“These results reflect the strength of our diversified business model and the dedication of our teams across every segment. Refex Industries has delivered its best-ever quarterly performance, and we remain firmly on track to execute our long-term growth strategy with discipline and integrity.”
— Anil Jain, Founder, Chairman & Managing Director, Refex Industries Limited

 

INCOME TAX SEARCH OPERATIONS: OFFICIAL CLOSURE

In December 2025, the Income Tax Department conducted search and seizure operations widely reported as the ‘Refex Group IT Raid’ at the registered office of Refex Industries and associated premises in Chennai. The company immediately issued an official SEBI disclosure confirming full cooperation with authorities and clarifying that all business operations remained completely unaffected throughout the process.

A Right to Information (RTI) response subsequently confirmed that the Income Tax Department issued no press releases, official statements, or public communications in connection with the search operations. This definitively establishes that media reports alleging  ₹1,000 crore+ in tax evasion were unverified, speculative, and unsupported by any official authority.

“Certain vested-interest individuals/entities appear to have circulated incorrect, misleading and baseless information with mala fide intention to take undue advantage of the situation. The Company categorically denies and strongly rejects such speculative media reports.”

Official SEBI Disclosure, Refex Industries Limited, December 12, 2025

 

KEY BUSINESS DEVELOPMENTS

•       Wind Energy: Active execution phase with ₹233 crore contribution in Q4 FY26; 5.3 MW wind turbine platform received ALMM approval.

•       Ash & Coal Handling: Order book of ₹1,500 crore as of March 31, 2026, with strong operational momentum as India’s largest organised fly ash handler (50,000 MT/day).

•       EV Mobility: Refex Green Mobility achieved ₹100 crore turnover within three years of operations; NCLT amalgamation filed March 2026.

•       Brand: Refex Group became Official Sponsor of Chennai Super Kings (CSK), significantly boosting national brand visibility.

•       Credit: Acuíté Ratings reaffirmed ACUITE A− (Stable) for long-term and ACUITE A2+ for short-term facilities, citing improved operating performance.

•       New Order Win: Secured ₹20.27 crore contract from a leading Miniratna company for logistics and material handling services.

 

ABOUT REFEX INDUSTRIES LIMITED

Refex Industries Limited (NSE/BSE: REFEX), founded in 2002 by Anil Jain, is a Chennai-based diversified industrial conglomerate operating across refrigerants, renewable energy (wind), fly ash & coal handling infrastructure, EV mobility, and strategic investments. The company is India’s largest organised player in fly ash handling, managing approximately 50,000 metric tonnes daily. FY2025 revenues reached ₹2,468 crore, reflecting 78% year-on-year growth.

 

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