About Refex Renewables & Infrastructure Limited

Refex Renewables & Infrastructure Limited (formerly SunEdison Infrastructure Limited) is a public company headquartered in India, focused on solar power development, engineering, procurement and construction (EPC), operations and maintenance, and the generation and sale of electricity across rooftop and ground-mounted installations, as well as solar water pumps and home lighting systems . Refex Group ventured into solar power in 2008 and, in 2018, RRIL began its journey as an Independent Power Producer (IPP) to advance solar energy as a sustainable alternative in India. The company serves a diverse clientele, including government agencies and private organisations, and maintains a presence at approximately 80 sites across 11 states.

Refex Renewables & Infrastructure Limited (RRIL) operates solely in India from a geographical reporting perspective, underscoring its domestic footprint and focus on national clean-energy infrastructure . Its activities span supply, installation, commissioning and maintenance of solar assets, covering both industrial and commercial customers as well as rural applications such as water pumps and home systems.

The Group structure is multi-tiered. As per the Board’s Report for FY24, the company had 24 subsidiaries (including step-down subsidiaries and one LLP) during the year. Key milestones include the company’s move into IPP operations in 2018 and continued expansion of its project portfolio across India.

Refex Renewables & Infrastructure Limited Key Management

• Mr. Kalpesh Kumar – Managing Director
• Mr. Dinesh Kumar Agarwal – Chief Financial Officer
• Mr. Vinay Aggarwal – Company Secretary

Latest Updates on Refex Renewables & Infrastructure Limited

• New incorporation: Refex Green Energy Limited was incorporated on February 19, 2024, as a wholly-owned subsidiary of Refex Green Power Limited, strengthening the Group’s downstream capabilities in renewables.
• Portfolio rationalisation: One wholly-owned subsidiary and five step-down subsidiaries were under the process of striking off during the year, with requisite filings made with the Registrar of Companies.
• Key customer concentration: Indian Railways contributed 37.14% of consolidated revenue in FY24; on a standalone basis, Broil Solar Energy Private Limited accounted for 30.23% of revenue.
• Governance and leadership: The Board proposed the re-appointment of Mr. Kalpesh Kumar as Managing Director for a three-year term from October 01, 2024 to September 30, 2027, following satisfactory performance evaluation by the Nomination & Remuneration Committee.
• Audit matters: The auditors issued a qualified opinion on the consolidated financial statements regarding certain liabilities and noted a material uncertainty related to going concern; management stated it is reconciling such liabilities and will incorporate adjustments, if any, upon completion of the exercise.