Annual Report 2024-25
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Ritesh International Ltd has filed its 43rd Annual Report for FY2024-25 along with the AGM notice. The 43rd AGM is scheduled for Friday, 19th September 2025 at 11:00 A.M. at the registered office in Ahmedgarh, Punjab. Operating income rose sharply to Rs. 12,898.07 lakhs from Rs. 8,365.91 lakhs in FY24 (about 54% growth), driven by the Stearic Acids & Non-Edible Oils division (Rs. 11,917.30 lakhs vs Rs. 7,255.63 lakhs). The Knitwear/Garments division declined about 12% to Rs. 980.77 lakhs. Profit after tax swung from a loss of Rs. 7.96 lakhs in FY24 to a profit of Rs. 329.96 lakhs in FY25. No dividend was recommended. The notice seeks shareholder approval for related-party transactions with Octave Apparels and Mettle Apparels (entities linked to the brother-in-law of the CMD and Wholetime Director) up to Rs. 10 crores each for FY2025-26, ratification of Cost Auditor remuneration, reappointment of Mr. Rijul Arora, and appointment of M/s Bhambri & Associates as Secretarial Auditor for five years (FY2025-26 to FY2029-30) at Rs. 1 lakh per year plus taxes.
Strong top-line growth and a turnaround to profit are positive for shareholders, though the garment segment continues to shrink and no dividend is proposed. The sizeable related-party transactions with promoter-family-linked entities (up to Rs. 10 crores each direction) warrant close shareholder attention despite the company stating they are at arm's length.