Latest news with #Refex
Time of India
3 days ago
- Automotive
- Time of India
Refex eVeelz rebrands as Refex Mobility; to consolidate focus on existing Tier-1 market
Chennai-based Refex eVeelz, which rebranded itself on Monday to Refex Mobility , announced a renewed strategy to consolidate operations in its existing Tier-1 markets before entering new geographies. The company will continue its focus on strengthening its presence in Chennai , Bengaluru, Mumbai and Hyderabad. With a fleet of around 1,400 electric vehicles , Refex Mobility caters primarily to corporate clients through employee transportation, airport transfers and long-term rentals. 'Our name change to Refex Mobility reflects our broader clean mobility vision — Reliable Fleet, Exceptional Experience. We want to be synonymous with reliability and quality in the corporate EV mobility space,' said Anirudh Arun, who also took over as company's chief executive officer. Partnerships and growth plans The company has partnered with multiple aggregators, including Uber and MakeMyTrip, and plans to deploy 1,000 electric vehicles across its operating cities. In FY24, Refex reported a turnover of ₹37 crore and a PAT-level loss of ₹25–26 crore, which it aims to reduce in the coming years. Refex Mobility also plans to leverage AI and technology for fleet scheduling, demand forecasting and charging optimisation. The focus, according to the company, will remain on operational synergies, profitability, and tapping into opportunities in the high-potential but fragmented B2B mobility segment. Leadership revamp Arun, who has previously been associated with BluSmart, said he aims to leverage learnings from his past experience to build Refex's core B2B brand. 'The B2B mobility space is still fragmented. With a consolidated operational base, we see strong headroom for growth,' he noted. The company has also roped in Ankit Grover as Chief Business Officer who will focus on enterprise partnerships and expanding corporate client engagements
Business Standard
24-04-2025
- Business
- Business Standard
Refex Inds Q4 PAT climbs 41% YoY to Rs 48 cr
Refex Industries reported 41.03% surge in consolidated net profit to Rs 48.32 crore in Q4 FY25 compared with Rs 34.26 crore in Q4 FY24. Revenue from operations soared 83.36% YoY to Rs 627.76 crore in the quarter ended 31 March 2025. Profit before tax stood at Rs 59.52 crore in Q4 FY25, up 62.71% as against Rs 36.58 crore recorded in Q4 FY24. On the segmental front, revenue from the ash & coal handling business stood at Rs 591.69 crore, marking a 94.52% YoY increase. Revenue from refrigerant gas manufacturing (refilling) and sales was Rs 16.60 crore, down 30.89% YoY. Revenue from electric vehicles stood at Rs 15.45 crore, reflecting a 210.86% YoY increase during the period under review. Additionally, revenue from power trading dropped 41.23% YoY to Rs 1.24 crore, while revenue from solar power generation and related activities increased 14.40% YoY to Rs 2.78 crore during the quarter. On a full-year basis, the companys consolidated net profit soared 69.14% to Rs 158.78 crore on a 78.44% surge in revenue to Rs 2,467.66 crore in FY25 over FY24. Anil Jain, chairman & managing director of Refex Industries said, FY25 marks another defining chapter in our journey as we continue to steer Refex towards sustainable, future-focused growth. Our performance reflects the strength of our diversified business model and the strategic realignments weve made across key verticals. During the year, we made decisive moves to strengthen and expand our green mobility verticala segment we are actively investing in for long-term growth. The recent realignment of our Bengaluru operations w.r.t. the phase out of our airport taxi operations reflects our sharpened focus on B2B and B2B2C opportunities that will be anchored in long-term partnerships and stable demand. In the renewable energy space, we advanced our clean energy strategy with the formation of Venwind Refex Power Limited that will focus on manufacturing, supply, and commissioning of wind turbines. Another step-down subsidiary, Venwind Refex Power Services, was incorporated, which will undertake O&M services for wind. As we scale sustainably across sectors, Refex remains steadfast in its purpose to enable Indias green transition while creating enduring value for all. Refex Industries, headquartered in Chennai, is a pioneer in sustainability-driven solutions in India. With over 22 years of expertise, it has built a diverse portfolio encompassing ash and coal handling, eco-friendly refrigerant gases, power trading, and green mobility initiatives. Furthering its commitment to sustainability, it has forayed into electric mobility through its subsidiary, Refex Green Mobility. This division offers electric vehicle (EV) services for passenger mobility, addressing corporate transportation needs and B2B2C use cases with four-wheeler EVs. The counter slipped 3.32% to Rs 470 on the BSE.
