Annual Report for FY 2024-25
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Citadel Realty and Developers Ltd has filed the Notice of its 65th Annual General Meeting along with the Annual Report for FY 2024-25. The AGM will be held on September 29, 2025 at 12:00 Noon via video conferencing. Key items on the agenda include adoption of the audited standalone and consolidated financial statements for FY ended March 31, 2025, and the reappointment of Mr. Chetan R. Shah, a Non-Executive Director, who retires by rotation. The company is also seeking shareholder approval to appoint ATMS & Co. LLP as new Statutory Auditors in place of M/s Bipin Shah & Co., for a term covering the 65th to 70th AGM. Additionally, AUS & Co. has been proposed as Secretarial Auditor for a five-year period (FY 2025-26 to 2029-30). A notable proposal is the introduction of the 'CRDL ESOP Plan-2025', which could create and allot up to 4,50,000 stock options (face value Rs. 10 each) to employees, with benefits also proposed to be extended to employees of holding, associate, and subsidiary companies. E-voting will run from September 25 to September 28, 2025.
The proposed ESOP scheme could result in dilution of up to 4,50,000 equity shares for existing shareholders. The change of statutory auditors and the director reappointment are routine governance items and are unlikely to materially affect the stock price.