Sobhagya Mercantile Limited, a company listed on the Bombay Stock Exchange (BSE), has announced plans to raise additional capital of Rs. 125.00 crores through the issuance of securities. The decision was made during a board meeting held on September 26th.

Board Meeting Details

The board meeting, which commenced at 4:00 PM and concluded at 5:10 PM, saw the company's Board of Directors approve the capital raising plan. According to the official statement released by the company, the capital will be raised through permissible modes under applicable laws.

Regulatory Approvals

It's important to note that the capital raising plan is subject to various regulatory and statutory approvals. This includes obtaining shareholder approval, which is a crucial step in the process. The company will need to follow the necessary procedures and comply with regulations set by the Securities and Exchange Board of India (SEBI) and other relevant authorities.

Company Information

Sobhagya Mercantile Limited, with its registered office in Mumbai, operates under the CIN: L45100MH1983PLC031671.

Trading Window Closure

In a separate announcement made on the same day, Sobhagya Mercantile Limited also informed about the closure of the trading window for its securities. The trading window will remain closed from October 1st until 48 hours after the declaration of the Unaudited Financial Results for the quarter and half-year ending September 30th.

This closure applies to Directors, Key Managerial Personnel (KMPs), Promoters and Promoters Group, Connected Persons, Designated Persons, and their immediate relatives covered under the company's Code of Conduct.

Management Statement

Shrikant Mitesh Bhangdiya, the Managing Director of Sobhagya Mercantile Limited, signed off on both the capital raising approval and the trading window closure notifications, underlining the importance of these developments for the company.

The capital raising initiative represents a significant move for Sobhagya Mercantile Limited, potentially providing the company with additional resources for its future plans and operations.

Sobha Ltd , a prominent real estate developer, has announced a remarkable financial performance for the fourth quarter, showcasing substantial growth in both profit and revenue.

Profit Soars

The company reported a consolidated net profit of ₹408.60 crore for Q4, marking a significant 483% increase from ₹70.00 crore in the same quarter last year. This impressive growth also represents an 88% rise from the previous quarter's ₹216.90 crore.

Revenue Boost

Sobha's revenue for Q4 reached ₹1,240.00 crore, up by 62.5% compared to ₹763.00 crore in the corresponding quarter of the previous year. This substantial increase in revenue highlights the company's strong market position and operational efficiency.

Dividend Announcement

In light of the robust financial performance, Sobha's board has recommended a dividend of ₹3.00 per equity share, rewarding shareholders for their investment in the company.

Financial Highlights

Examining the company's recent financial data reveals several noteworthy points:

The company has demonstrated significant growth across all key financial metrics, with revenue increasing by 82.32% year-over-year, and EBITDA showing a remarkable 96.55% improvement.

Operational Efficiency

Sobha's operating profit margin (OPM) for the quarter stood at 14.59%, indicating strong operational efficiency. This represents a notable improvement from previous periods, reflecting the company's ability to manage costs effectively while driving revenue growth.

Looking Ahead

With this strong quarterly performance, Sobha Ltd has positioned itself as a formidable player in the real estate sector. The substantial increase in profit and revenue, coupled with improved operational efficiency, suggests that the company is well-equipped to capitalize on opportunities in the real estate market.

As Sobha continues to build on this momentum, investors and industry observers will be keenly watching the company's future developments and strategic initiatives in the coming quarters.