Submission of Annual Report for the Financial Year 2024-25 along with the Notice convening 15th AGM
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Rithwik Facility Management Services Ltd has filed its Annual Report for FY 2024-25 along with the Notice for its 15th AGM, scheduled for September 29, 2025 at the registered office in Chennai. Revenue from operations rose to Rs. 42.46 crore from Rs. 36.38 crore, a growth of 16.71% year-on-year, while profit after tax increased to Rs. 3.50 crore from Rs. 2.64 crore. Turnkey project revenue nearly tripled to Rs. 3.38 crore from Rs. 1.17 crore. The Board has recommended a 10% final dividend (Rs. 30.6 lakhs). The company services 73 clients and manages about one million square feet of office space in Chennai and Coimbatore. AGM business includes adoption of accounts, dividend declaration, re-appointment of a director, appointment of a new secretarial auditor for five years, and approval of higher remuneration limits for the Managing Director (up to Rs. 36 lakh per annum) and Whole-Time Director (up to Rs. 84 lakh per annum), along with a proposal to raise the overall director remuneration ceiling from 11% to 25% of net profits.
Strong revenue and profit growth with a dividend payout signals healthy operational performance, which is positive for shareholders. The proposed increase in director remuneration and the broader 25% ceiling cap may draw scrutiny from minority investors, while diversification plans into solar power and IT parks represent future growth optionality but add execution risk.