Sh. Rahul Mithal, Chairman

Dear Shareholders,
 I am filled with a sense of pride and satisfaction as I reflect on your company’s performance this year, making significant strides and adding substantial value for stakeholders. This year’s growth story demonstrates the company’s commitment in building upon its strong base and surpassing all parameters of performance evaluation and continuing to create value beyond just numbers.
During FY24, your company registered the highest-ever total income of ₹153.28 crore and profit after tax of ₹81.22 crore, which is up by 30.9% & 37.6%, respectively, over FY23. This performance is mainly attributed to strong growth in the consultancy segment, which contributed 87% to the operating revenue.
This growth is primarily driven by facilitating new PPAs for the Railways and inclusion of newly commissioned Traction Substations under the ‘open access’ policy. Under the ‘open access’ policy, your company facilitated procurement of 17136 MUs of energy this year as compared to 14414 MUs in FY23. Besides, it facilitated the Railways in smooth transition towards the newly introduced regime of ‘General Network Access’.
Your company continued playing a pivotal role in Indian Railways’ Net Zero mission. We facilitated the procurement of 851 MUs of green energy this year, an important milestone in this direction.

Increasing its footprint in the power procurement for IR, your company has tied-up 1887 MW of renewable power. Solar power has been tied-up from standalone sources located in the states of Madhya Pradesh, Uttar Pradesh, Chhattisgarh and Haryana. Wind power has been tiedup from standalone sources located in the states of Maharashtra, Rajasthan and Karnataka. As a first, your company has tied-up for 1700 MW of renewable power under the Round-the-Clock (RTC) mode to provide 24x7 renewable energy to the Railways.
Buoyed by your company’s excellent operational and financial performance, the Board of Directors has recommended ₹2.30 per share as the final dividend, this is over and above the interim dividends of ₹5.40 per share, which have already been paid during the year. With this recommendation for the final dividend, the total dividend to our esteemed shareholders for FY24 would stand at ₹ 7.70 per share, amounting to a total of ₹ 80.85 crore, a dividend payout ratio of 99.5%.
Your company committed to implement the tenets of Corporate Governance in letter and spirit, consistently endeavors to adopt and maintain the highest standards of transparency and accountability in all spheres of business activities. As a responsible corporate entity, your company spent ₹124.16 lakh on various CSR activities during FY24.
All the above would not have been possible without the continuous support and guidance of our parent ministry and our  stakeholders for which we are thankful.
Indeed, the regulatory environment in the power sector is evolving fast. However, navigating the challenges has not only made us enhance our capabilities but also reinforced our zeal to be future ready. By remaining agile, adapting to the external environment and leveraging our inherent strengths, your company is confident of its ability to continue to deliver consistent and sustainable growth.

                                                                                                                                                                                   With Best Wishes,

                                                                                                                                                                      (Rahul Mithal)
                                                                                                                                                                           DIN: 07610499 Chairman,Remc Ltd.