Cochin Shipyard Limited has extended the additional charge of the post of Chairman & Managing Director to Shri Jose V J, Director (Finance), for a period of three months effective May 01, 2026. The extension was approved by the Ministry of Ports, Shipping and Waterways, Government of India, on June 01, 2026. This move ensures continuity in leadership following the retirement of the previous Chairman & Managing Director.

Shri Jose V J was initially entrusted with the additional charge in January 2026 consequent to the superannuation of Shri Madhu Sankunny Nair. The current extension is valid until a regular incumbent assumes the role or until further orders are issued, whichever occurs earliest. The company communicated this regulatory development to the stock exchanges.

Appointment Details

The following table outlines the key details regarding the extension of the additional charge:

The disclosure was made to BSE Limited and The National Stock Exchange of India Ltd. under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The filing was signed by Syamkamal N, Company Secretary of Cochin Shipyard Limited.

Cochin Shipyard Limited has been fined ₹9,55,800 each by BSE Limited and National Stock Exchange of India Limited for non-compliance with SEBI LODR Regulations during the quarter ended March 31, 2026. The penalties were imposed due to the absence of a sufficient number of Independent Directors on the Board and the non-constitution of the audit committee and nomination and remuneration committee. The company stated that the financial impact is limited to the fines imposed, for which waiver requests will be submitted to the stock exchanges.

Penalty Details

The notices were received via email on May 27, 2026, from both exchanges. The fines, inclusive of GST at 18%, were levied under Chapter VII of SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/II/3762/2026 dated January 30, 2026. The specific violations cited include non-compliance with Regulation 17(1) regarding the composition of the Board of Directors and Regulations 18 and 19 concerning the required committees.

The following table summarises the regulatory actions received by the company:

Company's Position

Cochin Shipyard Limited clarified that as a Central Public Sector Enterprise under the administrative control of the Ministry of Ports, Shipping and Waterways, Government of India, the power to appoint Directors on the Board vests with the Government of India. The company has forwarded necessary requests to the Government of India for appointing a sufficient number of independent directors, and constant efforts are being made to meet the compliance requirements. Management asserted that the non-compliance was neither due to negligence or default by the company nor within the control of its management.

Next Steps

The company indicated that the audit committee and nomination and remuneration committee will be duly constituted in line with SEBI LODR Regulations once sufficient independent directors are appointed by the Government of India. It plans to file appropriate requests for waiver of the fines imposed with the stock exchanges in due course, in accordance with the extant Policy for Exemption of Fines. The disclosure was made by Syamkamal N, Company Secretary, on May 28, 2026.