Sobha Limited has informed the Exchange regarding re-appointment of Mr. Raman Mangalorkar as Non- Executive Independent Director of the company for a further term of five years w.e.f. April 01, 2027.
SOBHA · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Sobha Limited reported strong FY2026 results with total income of ₹55,870 million, up 33% from ₹42,025 million in the previous year. Net profit nearly tripled to ₹3,013 million from ₹1,122 million, with EPS at ₹28.18 versus ₹10.99. The Board recommended a dividend of ₹6 per share (₹641.72 million total), subject to shareholder approval at the July 18, 2026 AGM. Two key re-appointments were approved: Mr. Jagadish Nangineni as Managing Director and Mr. Raman Mangalorkar as Non-Executive Independent Director, both for five-year terms effective April 1, 2027. Auditors issued an unmodified opinion but flagged ongoing regulatory issues including provisional attachment of land parcels worth ₹2,016.05 million under PMLA and income tax demand orders of approximately ₹672 million, against which the company has filed appeals.
Strong financial performance with near-tripling of profits is positive for shareholders. The ₹6 dividend provides income return. However, ongoing regulatory probes (PMLA and income tax) remain overhang risks requiring close monitoring.