7,600 Per Cent Returns: Engineering Company Bags New Order Worth Rs 65,07,00,000 From Salem City Municipal Corporation

The is up by 40 per cent in just 1 year and has given multibagger returns of over 7,600 per cent in 5 years.

Refex Renewables & Infrastructure Limited (RRIL) announced that its wholly-owned subsidiary, Refex Green Power Limited (RGPL), has secured a tender from Salem City Municipal Corporation for the establishment of a 200 Tonnes Per Day (TPD) Municipal Solid Waste-based Bio-CNG plant in Salem. This project, operating under a Public-Private Partnership (PPP) model on a Design, Build, Finance, Operate, and Transfer (DBFOT) basis, spans a period of 20 years. The Letter of Acceptance (LOA) was issued on March 28, 2025, and received by RRIL on April 1, 2025. The project, aligned with the Swachh Bharat Mission Urban 2.0, is estimated to cost Rs 65.07 crore, with a scheduled commissioning date 19 months from the concession agreement signing, which is expected within 30 days of the LOA.

Earlier, the company’s subsidiary, Sherisha Rooftop Solar SPV Four Private Limited, has formed a partnership with LC Infra Projects Private Limited to establish LC Infra Solar (150 MW) LLP (LLP). This partnership will focus on developing a 150-megawatt solar power project awarded by Maharashtra State Power Generation Co. Ltd. (MAHAGENCO). Sherisha Rooftop Solar SPV Four Private Limited has contributed Rs 2,600 towards the capital of the LLP, resulting in a 26 per cent stake in the associate entity.  

About the Company

Refex Renewables Infrastructure company has a rich legacy in the silicon industry and was originally formed in 1959 with the establishment of the Monsanto Electronic Material Company (MEMC), a division of the multinational Monsanto Corporation. Initially, its business pioneered and focused on the manufacturing of silicon wafers for semiconductors in the burgeoning electronics industry. The company has a market cap of Rs 289 crore with a 3-year stock price CAGR of 150 per cent.

On Wednesday, shares of Refex Renewables & Infrastructure Ltd gained 8.22 per cent to Rs 664.30 per share from its previous closing of Rs 613.85 per share. The is up by 40 per cent in just 1 year and has given multibagger returns of over 7,600 per cent in 5 years. Investors should keep an eye on this micro-cap stock.

Disclaimer: The article is for informational purposes only and not investment advice.