Refex Industries Clarifies Contract: 10 Lakh Tonnes Pond Ash & Fly Ash Order Worth ₹160 Crore
Refex Industries Limited clarified a contract for lifting 10 Lakh Metric Tonnes of Pond Ash and Fly Ash. The order, awarded by a Madhya Pradesh Public Sector Undertaking, is valued at approximately ₹160 crore and is to be executed within 18 months. This clarification corrects a previous typographical error regarding the quantity.
The clarification of a large contract (10 Lakh Metric Tonnes, ₹160 crore) is a material development for Refex Industries, impacting its order book and future revenue, thus having a medium impact.
The announcement clarifies a significant contract, correcting a previous error and confirming the substantial quantity and value of the order, which is positive for the company's business.
Refex Industries Limited has issued a clarification and corrigendum regarding a previously disclosed contract for the lifting of Pond Ash and Fly Ash. The company corrected a typographical error in its earlier disclosure, specifying that the contract quantity is 10 Lakh Metric Tonnes, not 10 Metric Tonnes.
This corrected disclosure confirms the contract's scope, value, and execution period remain unchanged. The contract involves the supply and services for lifting 10 Lakh Metric Tons of Pond Ash and Fly Ash under the RCR (Road-cum-Rail) Mode. The order has been awarded by a Public Sector Undertaking in Madhya Pradesh, a domestic entity. The broad consideration for this contract is approximately INR 160 crores, and it is to be executed within 18 months, extendable with mutual consent. Neither the promoter nor group companies have any interest in the awarding entity, and the contract does not fall under related party transactions.
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Refex Industries Limited filed this with the NSE as a statutory disclosure, categorised under new orders. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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