Pursuant to Regulation 34(1) of the SEBI (LODR) Regulations, 2015, we are enclosing herewith the Annual Report for the financial year 2024-25.
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Veer Energy & Infrastructure Limited has submitted its 45th Annual Report for FY 2024-25 to BSE as required under SEBI LODR Regulation 34(1). The company's revenue from operations rose to Rs. 1,032.24 lakhs from Rs. 861.97 lakhs in FY 2023-24, a growth of about 19.7%, but profit after tax declined sharply to Rs. 18.44 lakhs from Rs. 32.94 lakhs. No dividend has been recommended as the company plans to focus on expansion. The 45th AGM is scheduled for September 30, 2025, in Mumbai, with remote e-voting open from September 27-29, 2025. Key business at the AGM includes adoption of financial statements, re-appointment of Mrs. Krupa H. Jain (Executive Director and daughter of MD Yogesh Shah) via rotation, and appointment of M/s. Nidhi Shah & Associates as Secretarial Auditor for five consecutive years at a proposed fee of Rs. 55,000 for FY 2025-26.
Mixed signals for shareholders — top-line growth is healthy at nearly 20%, but bottom-line profit has shrunk by about 44% year-on-year, indicating margin pressure. Skipping dividend and continuing reinvestment in the wind energy business may be seen as a long-term growth bet, but short-term shareholder returns remain limited. The related-party nature of the director re-appointment (daughter of the MD) and routine auditor changes are standard governance items with no material price impact expected.