Buildpro appoints Dhananjay Mirlay Srinivas as managing director

Shankara Buildpro Limited, referred to as Buildpro, appointed Dhananjay Mirlay Srinivas as managing director from 1 November 2026 after founder and managing director Sukumar Srinivas died on 30 October 2026. The board approved a five-year term following a Nomination and Remuneration Committee recommendation, subject to shareholder approval through a postal ballot.

What led Buildpro to appoint a new managing director?

Buildpro appointed a new managing director because Sukumar Srinivas, its founder and managing director, died on Friday, 30 October 2026. The company disclosed the leadership change on 1 November 2026 under Regulation 30 of the Securities and Exchange Board of India Listing Obligations and Disclosure Requirements Regulations, 2015, which requires disclosure of specified material events.

The Nomination and Remuneration Committee, or NRC, met on 1 November 2026 and nominated Dhananjay Mirlay Srinivas for the role. Buildpro’s board considered the NRC recommendation and approved the appointment at a meeting held the same day, which began at 8.00 pm and concluded at 8.30 pm. The appointment was therefore made two days after Sukumar Srinivas’s death.

Buildpro’s announcement described Sukumar Srinivas as the founder who built the business from the ground up. It said the company’s board and management intended to continue executing its existing roadmap after the 30 October 2026 succession event, rather than disclosing a new strategy, financial target or operating reorganisation.

Who is Buildpro’s new managing director?

Dhananjay Mirlay Srinivas was Buildpro’s existing whole-time director when he became managing director on 1 November 2026. He joined Shankara Building Products Limited in a senior managerial role on 1 January 2020 and has served on Buildpro’s board since its inception on 13 October 2023.

Buildpro said Dhananjay Mirlay Srinivas has worked in leadership roles across operations and strategic initiatives in building products and allied industries. It also said he had been groomed for the managing director role by Sukumar Srinivas for more than six years, independently drove the Non-Steel marketplace business and played a key role in the Steel marketplace business under Executive Director C. Ravikumar’s guidance.

The progression is from a senior managerial role from January 2020, to a Buildpro board role from October 2023, and then to managing director from November 2026. Within the two marketplace segments, Buildpro distinguished his independent responsibility for Non-Steel from his Steel marketplace role, which it said was performed under C. Ravikumar’s guidance.

The appointment disclosure records 81,050 Buildpro shares held by Dhananjay Mirlay Srinivas and lists three other directorships: Shankara Building Products Limited, Taurus Value Steel & Pipes Private Limited and Purple Splash Materials Private Limited. Buildpro said he is not related to any existing director and has supplied declarations and consents required under the Companies Act, 2013.

What are the terms of Dhananjay Mirlay Srinivas’s appointment at Buildpro?

Dhananjay Mirlay Srinivas’s appointment as managing director has a five-year term beginning on 1 November 2026. Board approval remains subject to Buildpro shareholders approving the appointment through a postal ballot, as well as any other statutory or regulatory approvals that may be required.

Buildpro also said Dhananjay Mirlay Srinivas is not debarred from holding a director’s office by an order of the Securities and Exchange Board of India or another authority, subject to verification and confirmation. He has separately confirmed that he is not disqualified from being appointed director or managing director under the Companies Act, 2013.

The approval sequence means the board decision of 1 November 2026 established the proposed five-year appointment, while the shareholder vote remains a required next step. Buildpro did not state the postal-ballot date, remuneration terms or the result of a shareholder vote in its 1 November disclosure, leaving those matters unresolved.

How does Buildpro plan to maintain leadership continuity?

Buildpro said Dhananjay Mirlay Srinivas will be supported by an experienced management team that includes Executive Director C. Ravikumar and Chief Financial Officer Alex Varghese. The company described a board comprising executive and independent directors, along with professional managers across functions, as the structure supporting continuity after the founder’s death on 30 October 2026.

The managing director appointment retains an executive with work across both principal marketplace segments. Buildpro said Dhananjay Mirlay Srinivas independently led the Non-Steel marketplace business and contributed to the Steel marketplace under C. Ravikumar, but it announced no changes to either segment’s strategy, management responsibilities or operating structure on 1 November 2026.

Buildpro’s disclosed operating footprint consists of 132 stores and fulfilment centres, a retail footprint of more than 5.5 lakh square feet and more than 50,000 customers. Those figures provide the operating context for the transition, while the announcement did not set a store-expansion target, customer target or financial objective for the new managing director’s five-year term.

In remarks issued with the 1 November 2026 announcement, Dhananjay Mirlay Srinivas referred to a capable leadership team, clear strategy and well-defined roadmap put in place during his more than six years working under Sukumar Srinivas. These are management statements of intent, and Buildpro did not attach a quantified forecast or timetable to them.

Conclusion

The 1 November 2026 appointment gives Buildpro an internal successor following the 30 October death of its founder and managing director. Dhananjay Mirlay Srinivas brings prior involvement in both the Non-Steel and Steel marketplace businesses, board service dating from 13 October 2023 and a five-year managing director term, subject to shareholder approval.

The next disclosed step is a shareholder postal ballot on the appointment, alongside any applicable statutory or regulatory approvals. Buildpro has not disclosed the ballot date, remuneration package or further executive changes, while management says it will continue the existing roadmap across a network of 132 stores and fulfilment centres.