Annual Report of F.Y. 2024-25
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Harshdeep Hortico Limited has submitted its Annual Report for FY 2024-25 along with the Notice for its 3rd Annual General Meeting, scheduled for Tuesday, September 9, 2025 at 3:00 PM in Thane, Mumbai. The AGM will seek shareholder approval for adopting the audited financial statements, re-appointment of Non-Executive Director Dipti Hitesh Shah, and appointment of M/s Kailash Chand Jain & Co. as Statutory Auditors for a 5-year term from FY 2025-26 to FY 2029-30 at an audit fee of Rs. 3,25,000 per annum. The company also changed its Statutory Auditor mid-year during FY 2024-25, replacing M/s DGMS & Co. (upto Dec 5, 2024) with M/s Kailash Chand Jain & Co. (w.e.f. Dec 30, 2024). Additional resolutions include revising overall managerial remuneration limits from 11% to 20% of net profits, appointing M/s Dilip Swarnkar & Associates as Secretarial Auditor for 5 years, and revising Managing Director Hitesh Chunilal Shah's remuneration to include a salary of up to Rs. 1.80 crore per annum plus up to 2% commission on net profits.
Shareholders should note the mid-year change of statutory auditor during FY 2024-25 and the proposed increase in managerial remuneration limits. The MD's revised pay package (salary plus commission) is significant relative to the company's small-cap SME status and could impact net profit available to shareholders.