3,500 Per Cent Returns: Engineering Company Bags New Order Worth Rs 28 Crore from Tiruchirappalli City Corporation

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3,500 Per Cent Returns: Engineering Company Bags New Order Worth Rs 28 Crore from Tiruchirappalli City Corporation

The is up by 70 per cent in just 2 years and has given multibagger returns of over 3,500 per cent in 5 years.

Refex Renewables & Infrastructure Limited (RRIL) announced that its step-down subsidiary, Spectrum Renewable Energy Private Limited (SREPL), as part of a consortium led by Ourland Engineering Works Private Limited (OEWPL), has been awarded a domestic tender by the Tiruchirappalli City Corporation. The contract is for the establishment of a 100 TPD (Tonnes Per Day) Municipal Solid Waste-based Bio-CNG plant in Tiruchirappalli. This project will operate under a Public-Private Partnership (PPP) model on a Design, Build, Finance, Operate, and Transfer (DBFOT) basis for a period of 20 years. The Letter of Acceptance was dated September 22, 2025.

The awarded contract has an estimated project cost of Rs 28 Crore. SREPL holds a 49 per cent stake in the consortium, with OEWPL holding the remaining 51%. The consortium will form a Special Purpose Vehicle (SPV) to act as the Concessionaire. The project is required to achieve its full capacity commissioning within 19 months from the date of the Concession Agreement, which is expected to be signed within 30 days of the Letter of Acceptance. The initiative falls under the Swachh Bharat Mission Urban 2.0 – Solid Waste Management program.

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About the Company

Refex Renewables Infrastructure Ltd 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 1.72 per cent to Rs 678 per share from its previous closing of Rs 666.55 per share. The is up by 70 per cent in just 2 years and has given multibagger returns of over 3,500 per cent in 5 years.

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