Appointment of Mr. Udit Rathi as Chief Strategy Officer and Senior Management Personnel of the Company effective from June 1, 2025
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The Board of Rathi Steel & Power, at its May 30, 2025 meeting, appointed Mr. Udit Rathi, a promoter and third-generation entrepreneur, as Chief Strategy Officer and Senior Management Personnel effective June 1, 2025. He is an Industrial Engineer from Purdue University, USA, and previously served as CEO of the company until 2016, having led the setup of an integrated steel plant in Odisha and helped the company transition from high debt to debt-free status. The Board also approved audited FY25 results showing revenue from operations of Rs. 50,315 lakhs (vs Rs. 49,319 lakhs in FY24) and profit after tax of Rs. 1,395 lakhs (vs Rs. 2,353 lakhs in FY24, which included a Rs. 19.84 crore extraordinary income). FY25 PAT includes a Rs. 4.71 crore exceptional income from an electricity duty refund. The statutory auditor M. Lal & Co. issued an unmodified opinion.
The appointment reinforces promoter involvement in strategic decision-making, which may boost confidence in the company's direction. FY25 earnings, adjusted for one-time items, are broadly stable with modest revenue growth; the headline PAT decline is largely due to the absence of last year's extraordinary income, so underlying performance appears steady for shareholders.