Shipping Corporation of India Land and Assets Limited concluded its fifth annual general meeting on September 21, 2026. The virtual gathering focused on approving the financial results for FY26 and appointing new board members.

Shareholders approved a dividend of ₹0.55 per equity share of face value ₹10 each for the financial year ended March 31, 2026. The company also secured approval for the re-appointment of Shri Venkatesapathy S. as a director following his retirement by rotation.

Governance and Appointments

The meeting, chaired by Chairman and Managing Director Capt. B. K. Tyagi, saw the appointment of Shri Nitin Khamesra as Director (Finance). This special business item was passed alongside the ordinary resolutions.

The Board authorized the fixing of remuneration for the statutory auditors to be appointed by the Comptroller and Auditor General of India (C&AG) for FY27. This authorization follows recommendations from the Audit Committee.

Meeting Proceedings

The AGM was conducted through Video Conferencing (VC) or Other Audio Visual Means (OAVM), marking the fourth consecutive year of virtual meetings. A total of 63 members attended, satisfying the quorum requirement under Section 103 of the Companies Act, 2013.

Remote e-voting was available from September 17 to September 20, 2026. National Securities Depositories Limited (NSDL) facilitated the voting process. M/s Mehta and Mehta served as the scrutinizer for the e-voting process.

Strategic Updates

Capt. Tyagi highlighted the company’s focus on strengthening the Maritime Training Institute (MTI) in Powai. Initiatives align with the Maritime India Vision 2030 and Maritime Amrit Kaal Vision 2047.

Key developments include:

• MoUs with industry partners and Vadhvan Port Project Limited (VPPL).
• An MoU with NBCC (India) Limited for upgrading MTI infrastructure.
• Leasing part of Shipping House, Kolkata, to the Chief Electoral Officer, West Bengal.

The chairman noted that operations are managed by Shipping Corporation of India Ltd. (SCI) under a service level agreement. The company continues efforts to unlock value from assets transferred under the demerger scheme.

Financial Adoption

Members adopted the audited standalone financial statements for FY26. The Company Secretary confirmed that statutory auditors and the C&AG had no comments on the financial statements. The secretarial audit report observations and management replies were read out during the session.

Shipping Corporation of India Land and Assets Limited (SCILAL) submitted its revised fifth annual report for the financial year ended March 31, 2026, to stock exchanges on August 28, 2026. The submission incorporates corrections for typographical errors and omissions from the earlier version dispatched in August 2026. The revised document serves as the final annual report for shareholders.

Financial Performance

The company reported a net profit of ₹2,882 lakh for FY26, a significant turnaround from the net loss of ₹18,938 lakh recorded in FY25. Total earnings for the year stood at ₹10,677 lakh, comprising operating earnings of ₹2,330 lakh and interest income of ₹8,347 lakh.

The previous year's loss was primarily driven by the recognition of a deferred tax liability under Ind AS-12 on maritime training institute land due to temporary differences between carrying amounts and tax bases. In contrast, the current year saw a reduction in tax liability to ₹1,052 lakh.

Dividend Recommendation

The Board of Directors recommended a dividend of ₹0.55 per equity share of face value ₹10 each for FY26. This payout amounts to approximately ₹25.62 crore and is subject to shareholder approval at the upcoming annual general meeting. The dividend yield remains consistent with the previous year's recommendation.

Strategic Initiatives

SCILAL continues to focus on its dual business segments: real estate asset management and maritime training. Key developments include:

• Leasing part of Shipping House, Kolkata, to the Chief Electoral Officer, West Bengal.
• Signing memorandums of understanding with Synergy Marine Group and Vadhvan Port Project Limited to enhance maritime training capabilities.
• Upgrading infrastructure at the Maritime Training Institute, Powai, through a partnership with NBCC (India) Limited.

Corporate Governance

The company noted ongoing efforts to comply with SEBI listing regulations regarding board composition, specifically the appointment of independent directors. The matter is currently under active consideration by the competent authority. SCILAL also highlighted its adherence to corporate social responsibility guidelines, with an allocation of ₹91.88 lakh for FY26 CSR activities.