Shankara Buildpro's Managing Director Sukumar Srinivas dies; ceases to be promoter

Management change
Construction materials

Blacklitt Research30 October 20262 min read

Aerial view of a cement plant with silos and buildings cut into green hillsides — Albinfo, via Wikimedia Commons (CC0). Illustrative image.

Shankara Buildpro (NSE: BUILDPRO) said in a filing on 30 Oct 2026 that its Managing Director and founder, Sukumar Srinivas, died on Friday, 30 Oct 2026. Under SEBI's Listing Regulations, he ceases to be classified as a promoter of the company as a result of his death.

The death and the promoter reclassification

Sukumar Srinivas was the founder of Shankara Buildpro and, the company says, played a pivotal role in its growth and development over the years. The Board of Directors and the management expressed condolences and appreciation for his contribution.

Under Regulation 31A(6)(c) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, Srinivas ceases to be classified as a promoter of the company consequent to his demise.

Size of the company

Shankara Buildpro is listed in the construction materials and retailing space with a market value of ₹3,157 crore at the 07 Oct 2026 close of ₹1,302.00 a share. Its latest quarter, Q1 FY27 on a consolidated basis, reported total income of ₹1,890.26 crore and net profit of ₹35.78 crore.

What the death of the Managing Director means for Shankara Buildpro's shareholders

The filing does not say who will succeed Srinivas as Managing Director, whether any other board or management change follows, or what plans the company has for the business after his death.

At a glance

Item	Detail
Managing Director	Sukumar Srinivas (died 30 Oct 2026)
Promoter status	Ceases to be classified as promoter under Regulation 31A(6)(c)
Intimation under	Regulation 30(2)/(6) read with Para A of Part A of Schedule III
Market value	₹3,157 crore at 07 Oct 2026 close

Reference: Original filing (PDF)

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