New Delhi: The Shipping Corporation of India Limited (SCI) held its 76th Annual General Meeting (AGM) on Wednesday, September 23, 2026, through Video Conferencing and Other Audio Visual Means (VC/OAVM).
The meeting was chaired by Capt. B. K. Tyagi, Chairman and Managing Director, and was attended by 75 members. The virtual AGM commenced at 12:00 PM IST and concluded at 1:20 PM IST, with the required statutory quorum having been met.
Shareholders approved a final dividend of ₹1 per equity share for the financial year 2025-26. Along with the two interim dividends already paid during the year, SCI’s total dividend for FY26 stands at ₹7.50 per share.
SCI Approves ₹1 Final Dividend for FY26
One of the key resolutions at the AGM was the declaration of the final dividend for FY 2025-26.
Shareholders confirmed the earlier interim dividends and approved the final payout.
SCI Dividend Details for FY26
- First interim dividend: ₹3.00 per share
- Second interim dividend: ₹3.50 per share
- Final dividend: ₹1.00 per share
- Total FY26 dividend: ₹7.50 per share
The AGM also approved the audited standalone and consolidated financial statements for the year ended March 31, 2026, along with the reports of the Board of Directors and Auditors and the comments of the Comptroller and Auditor General of India (C&AG).
Capt. Som Raj Reappointed as Director
As part of the ordinary business, shareholders approved the reappointment of Capt. Som Raj (DIN: 11046394), who retired by rotation.
The AGM also authorised the Board to fix the remuneration of the Statutory Auditors appointed by the C&AG for FY 2026-27, based on the recommendation of the Audit Committee.
SCI Approves Key Director Appointments
The AGM also considered several special business resolutions relating to the appointment of directors.
Shareholders approved the appointment of:
- Nitin Khamesra (DIN: 09595247) as Whole-Time Director (Finance)
- Mukesh Mangal (DIN: 10460089) as Government Nominee Director
- Capt. Chandran Durai Daniel (DIN: 11283179) as Whole-Time Director (Bulk Carriers & Tankers)
- Bharati Raman Gotarna (DIN: 11902357) as Non-official (Independent) Director
The appointments are aimed at strengthening the company’s leadership and board-level expertise across finance, shipping operations, government representation and independent oversight.
Chairman Highlights Shipping Sector Outlook
During his address to shareholders, Capt. B. K. Tyagi discussed developments in the global and Indian shipping sectors, including the impact of geopolitical developments on maritime trade.
He also briefed shareholders about SCI’s financial performance, fleet expansion initiatives, sustainability measures and future plans.
The company has been pursuing fleet augmentation as part of its strategy to strengthen its presence in the shipping sector.
SCI Expands Fleet With VLGCs and Methanol-Fuelled PSV
Among the fleet-related developments highlighted at the AGM was the acquisition of two Very Large Gas Carriers (VLGCs).
SCI has also entered into a shipbuilding contract with Mazagon Dock Shipbuilders Limited (MDL) for a 3,000 DWT Methanol Dual Fuel Platform Supply Vessel (PSV).
The methanol dual-fuel vessel forms part of SCI’s efforts to incorporate more sustainable technologies into its fleet and support the transition towards lower-emission shipping.
Focus on Sustainability and Decarbonisation
SCI also highlighted its sustainability and decarbonisation initiatives during the AGM.
The company is pursuing measures aimed at improving the environmental performance of its fleet while exploring newer technologies and fuel options.
The planned methanol dual-fuel PSV is one such initiative, reflecting the company’s efforts to evaluate alternative fuels as the global shipping industry moves towards lower-carbon operations.
Demerger and Strategic Disinvestment Updates
The Chairman also briefed shareholders on the ongoing demerger and strategic disinvestment process of SCI.
The company also discussed strategic Memoranda of Understanding (MoUs) aimed at strengthening its shipping and logistics capabilities.
These initiatives form part of SCI’s broader efforts to strengthen its business operations and position itself for future growth in the evolving maritime sector.
C&AG Observations and Voting Results
The proceedings noted that the company received nil comments from the Statutory Auditors on the FY26 financial statements.
However, observations made by the C&AG relating to disclosure requirements were read out during the AGM, along with the management’s responses.
The combined voting results of the resolutions considered at the AGM will be announced within two working days and will be made available on the websites of the stock exchanges, SCI and the National Securities Depository Limited (NSDL).
About Shipping Corporation of India
Shipping Corporation of India Limited (SCI) is a Government of India enterprise engaged in the shipping and maritime sector. The company operates across various segments of commercial shipping and is involved in fleet expansion, maritime logistics and related services. SCI is also pursuing fleet modernisation, sustainability initiatives and strategic measures to strengthen its long-term position in the shipping industry.
