Resignation of Senior Management Personnel
LGBBROSLTD · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
The Board approved audited FY2026 results showing strong performance with standalone revenue of Rs 2,77,348 Lakhs (up 16% YoY) and consolidated revenue of Rs 3,07,563 Lakhs (up 19% YoY). Net profit stood at Rs 30,634 Lakhs standalone and Rs 31,874 Lakhs consolidated. The Board recommended a dividend of Rs 22 per share (220% payout). Key agenda included continuation of Sri S. Sivakumar as Non-Executive Director beyond age 75 pending shareholder approval, re-appointment of Cost Auditor Dr GL Sankaran and Internal Auditors for FY2026-27. Mr. Suresh Sivalingam, Vice President - Strategic Business Development, resigned effective January 31, 2026 citing personal reasons. The company acknowledged delay in disclosure as unintentional. The 70th AGM is scheduled for August 26, 2026.
Solid financial performance with improved profitability and dividend declaration is positive for shareholders. The resignation of a VP-level executive may create a temporary gap in strategic business development functions but appears to be for personal reasons rather than governance concerns.