Refex Industries Ltd

Refex Industries Ltd

Refex Industries Ltd. (Formerly known Refex Refrigerants Limited) was incorporated on September 13 2002. The core business of Refex is refilling non-ozone depleting refrigerant gases popularly known as HydrofluoroCarbons' (HFCs) which unlike regular refrigerants are eco-friendly and do not deplete the ozone layer. These gases are primarily used as refrigerants foam blowing agents and aerosol propellants in automobile air conditioners room airconditioners and refrigerating equipment. With its inception in 2002 the Company successfully broke the monopoly that existed in controlled refrigerant market..These refrigerants are the replacements for the Chlorofluorocarbon's (CFC) and HCFC's that deplete the ozone layer. The CFC's are to be banned in the country from 2010 after this ban HFC's have to be replaced with the CFC's. So Refex saw the potential in the HFC business and started to import this product from across the globe in the year 2002. The company has importing this in their trading company. After seeing a growth the company has planned to set up a refilling plant in Chennai with the technical collaboration from Kaltech Engineering and Refrigeration Pvt.Ltd. Singapore. The company has set up a refilling plant in Thiruporur near Chennai. Refex has started with a capacity of 40MT per month with one storage tank and one ISO tank. An ISO tank container is a pressure vessel complying with the International Standard Organization recommendations. The unit is designed and constructed for transportation of liquids powders and liquefied gases on land or at sea.In November 2011 the Company forayed into solar energy generation and distribution by running a solar power plant at Barmer Dist. in Rajasthan.The Company had disposed off 3754571 shares of SGD 1 each constituting 51% of investments made in its erstwhile Wholly Owned Subsidiary Company M/S Sherisa Technololgies (S) Pte Ltd during the year 2011-12. Hence the investments made and outstanding in such company were diluted to 49% comprising of 36 07334 shares of SGD 1 each. Due to this reduction in the Investments the said Company ceased to be a subsidiary of Company.The Company launched two products Voltage Stabilizers and Stands for outdoor units in January 2011. It started coal trading business in 2018. It further launched two new products R600 and R152a which have low GWP and are replacements to R12 and R22 respectively through canned form in 2020-21. The Company was among the first few companies to launch 450 ml refilling cans to set up renewal plants at automotive original equipment manufacturer (OEM) premises to launch blended gases within the Country. It added more cylinders and tonners and filling lines to its capacity this year thereby increasing its refilling capacity to 2500 MT during FY 2021-22.