Thakral Corporation Ltd (T04) told shareholders at its annual general meeting on Apr, 30 2026 that profit attributable to equity holders for FY2025 surged 493 per cent year on year to 170.9 million Singapore dollars, while revenue grew 42 per cent to 411.3 million Singapore dollars. Earnings per share rose to 1.35 Singapore dollars and the board declared a total dividend of 6.5 Singapore-cent per share, translating to a 4.1 per cent yield based on the Dec, 31 2025 closing price.

Group net asset value per share doubled to 2.60 Singapore dollars as at Dec, 31 2025, and the company’s market capitalisation stood at 246.8 million Singapore dollars on Apr, 23 2026. The price-to-earnings and price-to-book ratios were 1.42 times and 0.73 times respectively.

The investment segment delivered 153.8 million Singapore dollars in results, buoyed by fair-value gains from investees’ initial public offerings, notably the listing of over-50s resort operator GemLife Communities Group, in which Thakral holds 16.8 per cent. GemLife ended 2025 with a market capitalisation of 1.93 billion Australian dollars, revenue of 281.7 million Australian dollars and underlying net profit after tax of 90 million Australian dollars.

Thakral has signed agreements to raise its interest in India-based TIL Investments, the vehicle for a 21-acre mixed-use development in Gurugram, from 13.64 per cent to 95.28 per cent. The 93.9 million Singapore-dollar transaction, to be funded with cash and new shares priced at 1.8128 Singapore dollars each, is subject to shareholder approval. A revenue-sharing model is planned for the project, which has potential for 2.5 million square feet of residential, healthcare and commercial space.

The lifestyle segment reported a 139 per cent rise in segment results to 44.3 million Singapore dollars. Growth was driven by premium beauty and fragrance sales in Greater China and by South Asian demand for DJI drones, where the group plans 20–30 branded stores in the next two to three years. In India, Thakral secured nationwide distribution rights for Nespresso products and expects that unit to reach profitability in FY2027.

The group is also investing in India’s emerging drone ecosystem. It owns about 23 per cent of manufacturer Bharat Skytech, which begins production in May 2026, and has a stake in drone analytics firm Skylark Drones.

Total borrowings stood at 72.7 million Singapore dollars against cash of 31.5 million Singapore dollars as at end-2025, giving a gearing ratio of 0.22 times. Pro-forma figures incorporating the Gurugram acquisition indicate gearing could rise to 0.41 times upon completion of the first tranche.

Chairman and managing director Mahendra Kumar Thakral said the company is positioning for “long-term growth underpinned by recurring income from real estate and expanding lifestyle franchises across Asia-Pacific”.