Refex Industries Ltd, engaged in selling refrigerant gases and handling coal ash and fly ash, on Saturday has secured a contract worth around ₹160 crore from a public sector undertaking in Madhya Pradesh for lifting 10 metric tonnes of pond ash and fly ash under the Road-cum-Rail mode.
The contract has an execution period of 18 months, which can be extended with mutual consent. The scope of the contract covers the lifting of 10 MT of pond ash and fly ash, with the quantity also extendable by mutual consent. The order has been awarded by a domestic entity and is a domestic contract.
Refex Industries said the promoter, promoter group and group companies have no interest in the entity that awarded the contract. The contract does not fall under related party transactions, the company said. Refex Industries said it has not received any communication, notice, or order from the tax authorities indicating any adverse findings following the search.
The company, in its filing, said it and its officers extended full cooperation during the course of the search and furnished all information and documents sought by the authorities. It added that business operations continue as normal and remain unaffected.
On Friday , shares of Refex Industries Ltd ended at ₹269.90, down by ₹2.05, or 0.75%, on the BSE.