RITES Ltd

RITES Limited - Intimation of Closure of Trading Window from October 1, 2026 till the end of 48 hours after the declaration of Unaudited Financial Results for the quarter and half year ending September 30, 2026

AGM Details

• AGM held on 25-09-2026 at 11:00 AM through VC/OAVM.
• Record date: 20-09-2026; last date for postal ballots: 25-09-2026.
• Meeting duration: 11:00 AM to 12:30 PM.

Key Resolutions & Outcomes

• Resolution 1: Adopt Audited Financial Statements, Board's Report, Auditor's Report; CAG comments.
• Resolution 2: Confirm interim dividends and declare final dividend.
• Resolution 3: Re-appoint Dr. Deepak Tripathi (Director Technical) on rotation.
• Resolution 4: Fix remuneration of Statutory Auditors to be appointed by CAG.
• Resolution 5: Appoint Prem Singh Meena as Whole Time Director (Projects).
• Resolution 6: Appoint Jayant Kumar as Government Nominee Director.
• Resolution 7: Appoint Atul Singh as Government Nominee Director.
• Resolution 8: Re-appoint Rahul Mithal as Chairman & Managing Director; tenure extended.

Dividend

• Final dividend approved for equity shares; per-share amount not disclosed.

Directors & Management Changes

• Dr. Deepak Tripathi retires by rotation; eligible for re-appointment.
• Prem Singh Meena appointed Whole Time Director (Projects).
• Jayant Kumar appointed Government Nominee Director; rotation applicable.
• Atul Singh appointed Government Nominee Director; rotation applicable.
• Rahul Mithal tenure extended as Chairman & Managing Director; not liable to retire.

AGM Details

• Date, time, mode: 25 September 2026 11:00 IST, via VC/OAVM.
• Shareholder cut-off date: 20 September 2026.
• Remote e-voting: 22–24 September 2026; voting during AGM.
• Chairman: Rahul Mithal; attendance: 180 members incl. President of India nominee.
• Meeting conducted through VC/OAVM; reports read and taken as read.
• E-voting results to be announced to exchanges.
• Statutory Audit Report had no qualifications; C&AG Nil comments.
• Secretarial Audit observations noted; management reply provided.

Resolutions

• Resolution 1 (Ordinary): Adopt audited financial statements (standalone and consolidated) for year ended 31 March 2026.
• Resolution 2 (Ordinary): Confirm interim dividends and declare final dividend for FY 2025-26.
• Resolution 3 (Ordinary): Re-appoint Dr. Deepak Tripathi as Director (Technical) by rotation.
• Resolution 4 (Ordinary): Authorize Board to fix remuneration of Statutory Auditors for 2026-27.
• Resolution 5 (Ordinary): Appoint Prem Singh Meena as Whole Time Director (Projects).
• Resolution 6 (Ordinary): Appoint Jayant Kumar as Government Nominee Director by rotation.
• Resolution 7 (Ordinary): Appoint Atul Singh as Government Nominee Director by rotation.
• Resolution 8 (Ordinary): Re-appoint Rahul Mithal as Chairman & MD; tenure extended.

Voting Results

• Outcome not disclosed in the excerpt; e-voting results will be announced.
• Scrutinizer report to be issued and shared with exchanges.

Dividend Details

• Final dividend for FY 2025-26 to be declared; per-share amount not disclosed.

Directors & Management Changes

• Dr. Deepak Tripathi re-appointed as Director (Technical) by rotation.
• Prem Singh Meena appointed Whole Time Director (Projects).
• Jayant Kumar appointed Government Nominee Director by rotation.
• Atul Singh appointed Government Nominee Director by rotation.
• Rahul Mithal re-appointed as Chairman & MD; tenure extended.

Auditor Matters

• Remuneration of Statutory Auditors to be fixed by Board for 2026-27.

RAPL closure initiation

• Board approves initiation of closure of RITES Afrika Proprietary Limited, a wholly-owned subsidiary.
• Closure subject to statutory, regulatory, legal, tax and other approvals.
• RAPL is a Botswana-incorporated subsidiary (wholly-owned).
• RAPL turnover last year: ₹51,33,714.79 (0.02%).
• RAPL revenue last year: ₹58,76,920.97 (0.02%).
• RAPL net worth last year: ₹3,58,84,646.02 (0.13%).
• Closure to be completed within six months after requisite approvals.
• Reasons: lack of Botswana business opportunities and establishment of SA representative office.
• Board meeting date: 25 September 2026.
• Subject to completion of statutory/regulatory/legal/tax formalities and approvals.

Meeting Details

• Date and time: 29 September 2026, 14:00–15:00.
• Mode: In person; Type: investor meet.
• Investor: FYERS Asset Management Private Limited.

MoU with NHIDCL

• RITES signed an MoU with NHIDCL to provide consultancy for highway and infra projects.
• Scope includes DPRs for highways and tunnels, external audits, QA, and structural health assessments.
• Framework to enhance planning, quality and safety across NHIDCL's portfolio.

Strategic impact

• Agreement aims to deliver timely and efficient project execution and regional connectivity.

About RITES

• RITES is a Navratna PSU with 52 years of experience and projects in 55+ countries.

Order details

• Awarding entity: South Central Railway (domestic).
• Scope and nature: PMC for Railways Electrification of Bidar-Kalaburagi (110 RKM), cost-plus turnkey.
• Contract value: Revised project cost Rs 154.65 crore excluding GST (including RITES fees).
• Original project cost was Rs 97.96 crore excluding GST (including RITES fees).
• Execution timeline: Ongoing.
• Related party: Government-to-Government transaction.

ESG rating disclosure

• Niche assigned ESG rating of 69 and notified exchanges on September 17, 2026.
• RITES states it did not engage Niche for ESG rating; rating prepared independently from public data.
• This disclosure is for information and records; no governance action or financial impact stated.

Statutory Auditor Appointment

• Statutory auditors appointed for FY 2026-27 by the Comptroller and Auditor General of India.
• Firm appointed: M/s S R Goyal & Co., Chartered Accountants, New Delhi.
• Date of appointment: September 7, 2026.
• Profile: established 1981; branches in Delhi, Mumbai, Gujarat; 11 partners.
• Previous year: served as statutory auditor for FY 2025-26.
• Appointment conveyed by CAG via letter dated September 7, 2026.