Annual Report for Financial Year 2024-2025
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Ratnabhumi Developers Limited, an Ahmedabad-based real estate and construction company (BSE: 540796), submitted its Annual Report for FY 2024-25 to BSE on September 2, 2025. The document carries the Notice for the 19th Annual General Meeting on Saturday, September 27, 2025 at 11:00 AM via video conferencing. Ordinary business includes adoption of audited standalone and consolidated financial statements (with unmodified auditor opinion) and re-appointment of Chairman & MD Mr. Kaivan Shah, who retires by rotation. Special business proposes appointing M/s M A A K & Associates as the new statutory auditor for five years (FY 2025-26 to 2029-30), replacing M/s DJNV & Co, and M/s Insiya Nalawala & Associates as Secretarial Auditor for five years at Rs. 1 lakh per year plus taxes. The Notice also seeks shareholder approval for material related party transactions aggregating up to Rs. 130 crore: unsecured loans up to Rs. 60 crore from Mr. Kaivan Shah and up to Rs. 20 crore from Mrs. Rinni Shah (Director and CFO), both at 9% p.a. interest and repayable on demand, plus purchase or sale of raw materials and finished goods up to Rs. 50 crore with subsidiary Ratnabhumi Techno Engg Pvt Ltd. Company Secretary Ms. Divya Joshi resigned effective May 31, 2025.
This is a routine annual compliance filing and AGM notice with no direct earnings or business trigger for the stock. Shareholders should review the related party loan proposals (Rs. 80 crore from two directors at 9% interest) and the material transaction cap with the subsidiary (Rs. 50 crore) before the e-voting window of September 24-26, 2025. The auditor change and key managerial change appear procedural and not red-flag in themselves.