Submission of Annual Report 2024-25 along with Notice of the 15th Annual General Meeting and its Annexures
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Rithwik Facility Management Services Ltd submitted its Annual Report for FY 2024-25 along with the 15th AGM notice to BSE under SEBI Regulation 34(1)(a). Revenue from operations rose to Rs. 42.46 crore from Rs. 36.38 crore, a 16.7% year-on-year growth, while profit after tax grew to Rs. 3.50 crore from Rs. 2.64 crore. The Board has recommended a final dividend of 10% (Rs. 30.6 lakhs), and the 15th AGM is scheduled for September 29, 2025 at the registered office in Guindy, Chennai. The AGM notice seeks shareholder approval to appoint M/s Khandelwal Arun & Associates as Secretarial Auditor for five years (FY 2025-26 to 2029-30) and to raise the overall director remuneration ceiling from 11% to 25% of net profits. Specific pay hikes are also proposed: Managing Director Rithwik Rajshekhar Raman up to Rs. 36 lakh per annum and Whole-time Director Niranjan V Rao up to Rs. 84 lakh per annum, effective July 1, 2025. The company also indicated plans to enter solar power generation and explore IT/ITeS park development through partnerships.
Strong double-digit revenue and profit growth with a dividend declaration is positive for shareholders, but the proposal to more than double the director remuneration ceiling (from 11% to 25% of net profits) and meaningful pay hikes for the MD and WTD may draw attention from retail investors at the AGM. The diversification signals into solar power and IT parks hint at future growth avenues but remain early-stage.