Chowgule Steamships director receives ED summons under FEMA

Chowgule Steamships Limited disclosed that its Whole Time Director, Mr. Vijay Chowgule, received a summons from the Directorate of Enforcement (ED) regarding an inquiry under the Foreign Exchange Management Act (FEMA), 1999. The summons, dated June 05, 2026, was issued by the Panji Zonal Office in Goa and calls for attendance and submission of documents. The company clarified that no formal charges or orders have been passed as of this communication.

The regulatory filing submitted to BSE Limited detailed the nature of the action, citing specific legal provisions including Section 37(1) and (3) of FEMA, 1999, read with Section 131(1) of the Income Tax Act, 1961, and Section 30 of the Code of Civil Procedure, 1908. The inquiry is connected to proceedings involving Jaywant Chowgule and others. The company emphasized that the development does not have a material impact on its financial or operational activities.

Key Details of the Summons

The following table outlines the particulars of the disclosure as per SEBI Circular No. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123:

Sr. No.	Particulars	Details
1	Name of the authority	Directorate of Enforcement (ED), Panji Zonal Office
2	Nature and details of the action(s) taken	Summons to Mr. Vijay Chowgule, Whole Time Director, under Section 37 (1) and (3) of FEMA, 1999 read with section 131 (1) of the Income Tax Act, 1961 and Section 30 of the Code of Civil Procedure, 1908
3	Date of receipt of direction or order	Summons dated June 05, 2026
4	Details of the violation(s)/contravention(s)	Summons for attendance and inquiry purposes in connection with proceedings under FEMA, 1999 in case of Jaywant Chowgule and others. No formal charges or orders have been passed.
5	Impact on financial, operation or other activities	No material impact on the financial or operational activities of the Company.

The disclosure was made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Rinky Gupta, Company Secretary and Compliance Officer, signed the filing on behalf of the Board of Directors on June 06, 2026.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+0.53%	-12.51%	-23.78%	-3.98%	-21.42%	+247.52%

Chowgule Steamships Limited reported a total income of ₹650.06 lakh for the financial year ended March 31, 2026, according to its audited standalone financial results. The shipping company recorded a loss after tax of ₹14.00 lakh for the full year, narrowing from the previous year's loss of ₹127.31 lakh. The Board of Directors approved the results at a meeting held on May 26, 2026.

For the quarter ended March 31, 2026, the company reported a total income of ₹583.62 lakh. It posted a profit after tax of ₹21.69 lakh for the quarter, a turnaround from the loss of ₹86.55 lakh recorded in the same period last year. The basic and diluted earnings per share (EPS) for the quarter were ₹0.35.

The company operates in a single business segment, Shipping. Previous year figures have been regrouped wherever necessary to ensure comparability. The financial results were reviewed by the Audit Committee before being approved by the Board.

Financial Performance

The following table details the standalone financial results for the quarter and year ended March 31, 2026:

Particulars	Quarter Ended 31.03.2026 (Audited)	Year Ended 31.03.2026 (Audited)	Year Ended 31.03.2025 (Audited)
Total Income	583.62	650.06	197.96
Profit / (Loss) before tax	43.93	(5.53)	(179.38)
Profit / (Loss) after tax	21.69	(14.00)	(127.31)

The paid-up equity share capital of the company has a face value of ₹10 per share. The total comprehensive income for the year, comprising profit for the period and other comprehensive income after tax, stood at (14.78) lakh.