Reappointment of Shri Khurshed Thanawalla (DIN: 00201749) as a Non-Executive Independent Director of the Company for a period of Five Years w.e.f. 19th May, 2027, recommended by the Board ....
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The Board of Standard Industries Limited held a meeting on May 12, 2026 where multiple items were approved. The company reported audited financial results for FY2026 with standalone revenue of Rs 3,068.34 lakhs and a net loss of Rs 1,759.22 lakhs, compared to a loss of Rs 1,380.44 lakhs in FY2025. The auditors gave an unmodified opinion. A final dividend of Rs 0.25 per share was recommended for FY2025-26. The Board also approved a major transaction to assign development rights for land at Dadar West, Mumbai to Prabhadevi Developer Private Limited for Rs 169.51 crore plus 25,774.61 sq ft of residential area. Additionally, Shri Khurshed Thanawalla's re-appointment as Non-Executive Independent Director for five years from May 19, 2027 was proposed, subject to shareholder approval at the AGM.
The company continues to incur losses but has a significant one-time development rights deal providing cash inflow. The independent director reappointment maintains board stability and governance continuity. Shareholders should note the AGM on August 18, 2026 for dividend and director appointment approvals.