This microcap Semiconductor stock provides services for the construction and commissioning of electricity transmission and distribution systems touched 5% upper circuit in day trade hours upon receiving an order from NTPC.
With a market capitalization of Rs. 380 Crores, the shares of Refex Renewables & Infrastructure were trading at Rs. 846, up 5% from its previous day’s close price of Rs. 805.80. The stock has outperformed the Nifty and risen around 128% in from the past year. Over the past 5 years, the stock has given around 13,746% returns which shows the demand for the sector and the company.
The company is in the microcap category, and their recent Q1FY25 results show revenue from operations increased by 1.12% QoQ, from Rs. 17.81 crores in Q4FY24 to Rs. 18.01 crores in Q1FY24. Their net loss decreased by 27.64% QoQ, from Rs. 10.85 crores in Q4FY24 to Rs. 8.50 crores in Q1FY24.
The company’s subsidiary Refex Green Power Limited has won a tender from NTPC to set up 100 MW of Solar Power through bids. It shall enter into a Power Purchase agreement dated 24/06/2024 for the period of 25 years. The estimated project cost is around Rs. 480 crore. This order is significantly higher than the parent company’s market cap.
Refex Renewables and Infrastructure is one of the companies in the green energy and renewable sector. They are focused on energy distribution in industrial and commercial, rural energy like home, solar water pumps, street lighting systems, residential segments, small and medium-sized enterprises (SME), and waste heat to power which is one among the emerging technologies.
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The Company’s segments include Commercial, Rural, Industrial, and Others. Their Rural segment which includes installation, supply, commissioning and maintenance of home systems and solar water pumps. Their Industrial and Commercial segments include installation, supply, maintenance, and commissioning of rooftop and ground-mount solar power plants.
Refex’s other segments include providing supporting services like manpower supply and various others. They even provide personalized solar energy solutions. Among others, they render solar power to commercial and residential complexes and businesses in rural towns and urban cities across the country. They provide O&M to around 88 sites as of FY24 which is around 124.90 MW capacity.
According to the company’s segment as of FY24, the revenue from rural constitutes around 9.21%, revenue from Industrial and commercial is around 86.68% and others is around 4.10%. Their profit margin from rural is significantly higher than their Industrial and commercial segment. The majority of the expenses include operations and Management, Legal and Professional charges, and payments to farmers and others in FY24.
Written by Santhosh
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