Sobha Limited has informed the Exchange regarding re-appointment of Mr. Jagadish Nangineni as Managing Director for a period of five years w.e.f April 01, 2027 and Mr. Raman Mangalorkar ....
SOBHA · price
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Sobha Limited reported strong FY2026 financial results with standalone profit after tax of ₹3,013.09 million, more than doubling from ₹1,122.32 million in the previous year. Revenue from operations grew to ₹53,676.64 million from ₹40,666.65 million. The Board recommended a dividend of ₹6 per equity share (60% payout) worth ₹641.72 million, subject to shareholder approval at the July 18, 2026 AGM. The Board also approved re-appointment of Mr. Jagadish Nangineni as Managing Director and Mr. Raman Mangalorkar as Non-executive Independent Director, both for five-year terms effective April 1, 2027. The auditors issued an unmodified opinion on the financial results. Notable emphasis matters include ongoing Enforcement Directorate proceedings regarding land parcels worth ₹2,016.05 million under PMLA, and Income Tax Department demand orders totaling approximately ₹672 million for assessment years 2015-24.
Strong financial performance with profit more than doubling and a 60% dividend payout signals healthy business growth and shareholder returns. However, investors should monitor the pending PMLA case and IT tax demands as these involve regulatory uncertainty.