Cochin Shipyard Limited has announced significant changes in its internal audit leadership, with the appointment of a new head following the recent retirement of a senior executive. The company has disclosed these developments in compliance with regulatory requirements for listed entities through official communications to stock exchanges.

Leadership Transition in Internal Audit

The company has designated Smt. Riya Mathew, Assistant General Manager (Internal Audit) I/c, as the Head of Internal Audit effective May 02, 2026, until further orders. This appointment follows the retirement on superannuation of Smt. Mary Ranjit Abraham, Deputy General Manager (Internal Audit) and Head of Internal Audit, who retired from the company's services on April 30, 2026.

Professional Profile of New Head

Smt. Riya Mathew, aged 45, brings substantial expertise to her new role as a Chartered Accountant with nearly 20 years of experience in finance, internal financial control and audit. She holds a Bachelor of Commerce degree from Mahatma Gandhi University and a Post Graduate Diploma in Business Administration from Symbiosis Centre for Distance Learning.

Career Progression at Cochin Shipyard

Smt. Riya Mathew joined Cochin Shipyard Limited in February 2007 as Assistant Manager (Finance) and has worked across various finance functions including Billing, Internal Financial Control & Audit, and IAC Finance. Her extensive experience within the organization positions her well for the leadership role in internal audit operations.

Regulatory Compliance and Documentation

The disclosure was made pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The official communication was signed by Syamkamal N, Company Secretary of Cochin Shipyard Limited, and bears the reference number SEC/48/2017-63, dated May 02, 2026.

The Government of India has announced plans to upgrade Cochin Shipyard to Navratna status, marking a significant milestone for the state-owned shipbuilding enterprise. This prestigious designation would place the company among India's top-performing public sector undertakings with enhanced operational autonomy.

Significance of Navratna Status

The Navratna classification is awarded to select public sector enterprises that demonstrate exceptional performance and strategic importance. Companies with this status enjoy greater operational flexibility, including enhanced powers for capital expenditure, joint ventures, and overseas investments without requiring government approval for smaller transactions.

Strategic Implications

This upgrade reflects the government's confidence in Cochin Shipyard's operational capabilities and its strategic role in India's maritime and defense sectors. The enhanced autonomy would enable the company to respond more quickly to market opportunities and make strategic decisions with reduced bureaucratic processes.

Company Profile

Cochin Shipyard operates as one of India's leading shipbuilding and ship repair facilities, serving both domestic and international markets. The company has established itself as a key player in the construction of various vessels, including naval ships, commercial vessels, and offshore platforms.