Refex Renewables' Board has approved its financial results for the quarter, reporting a consolidated loss after tax of INR 7.51 Cr, leading to net worth erosion.

Management acknowledged going concern doubts but highlighted plans for new business opportunities and promoter support.

Significantly, the company will diversify into manufacturing and trading organic fertilizers under the 'Biodhanic' brand, aiming to create new revenue streams, subject to shareholder approval.

The 31st Annual General Meeting is scheduled for September 18 via video conference, and a special window for physical share re-lodgement for demat conversion is open for six months, aiding relevant shareholders.