Shipping Corporation of India shareholders approved a final dividend of ₹1.00 per equity share for FY26 during the 76th Annual General Meeting held on September 23, 2026. This payout brings the total dividend for the fiscal year to ₹7.50 per share, following earlier interim payments.

The meeting, conducted via Video Conferencing/Other Audio Visual Means (VC/OAVM), was chaired by Capt. B. K. Tyagi, Chairman and Managing Director. A total of 75 members attended the virtual session, which commenced at 12:00 pm and concluded at 1:20 pm. The statutory quorum was met with 30 members present as required under Section 103 of the Companies Act, 2013.

Voting results and dividend approval

The agenda included the adoption of audited standalone and consolidated financial statements for FY26. Shareholders confirmed the payment of two interim dividends: the first at ₹3.00 per share and the second at ₹3.50 per share. The newly approved final dividend of ₹1.00 per share completes the annual distribution.

The e-voting results, scrutinized by M/s Mehta and Mehta, Company Secretaries, showed strong shareholder support for financial resolutions. The resolution to confirm interim dividends and declare the final dividend received 99.83% votes in favour, with only 0.17% against.

Board appointments and re-elections

The AGM addressed several key governance matters, including the re-appointment of Capt. Som Raj as a director retiring by rotation. While passed, this resolution saw 7.87% dissenting votes, primarily from institutional holders who voted against at a rate of 66.59% within their segment.

Key appointments ratified during the meeting include:

• Nitin Khamesra as Whole-Time Director (Finance): Approved with 90.50% votes in favour.
• Mukesh Mangal as Government Nominee Director: Approved with 89.38% votes in favour.
• Capt. Chandran Durai Daniel as Whole-Time Director (Bulk Carriers & Tankers): Approved with 90.50% votes in favour.
• Bharati Raman Gotarna as Non-official (Independent) Director: Approved as a Special Resolution with 96.91% votes in favour.

Additionally, the Board was authorized to fix the remuneration for Statutory Auditors appointed by the Comptroller and Auditor General of India (C&AG) for FY27, based on the Audit Committee's recommendation. This resolution received the highest support at 99.90%.

Strategic updates and market context

During his address, Capt. Tyagi briefed shareholders on the global and Indian shipping market scenarios, highlighting the impact of geopolitical developments on maritime trade. He outlined recent fleet augmentation initiatives, including the acquisition of two Very Large Gas Carriers (VLGCs) and the signing of a shipbuilding contract with Mazagon Dock Shipbuilders Ltd. for one 3,000 DWT Methanol Dual Fuel Platform Supply Vessel (PSV).

The Chairman also discussed the company's decarbonisation efforts, strategic Memoranda of Understanding (MoUs) to enhance shipping and logistics capabilities, and ongoing initiatives regarding the demerger and strategic disinvestment of SCI. The proceedings noted that the Company received nil comments from Statutory Auditors on the FY26 financial statements, though observations from the C&AG regarding disclosure requirements were read out along with management responses.

What the numbers show

A distinct divergence appears between financial approvals and governance appointments. Financial resolutions, including the dividend declaration and auditor remuneration, secured near-unanimous support (>99.5%). However, director appointments faced significantly higher opposition from institutional investors. For instance, while the promoter group voted 100% in favour of all appointments, institutional holders voted against Capt. Som Raj’s re-appointment at a rate of 66.59% and against Nitin Khamesra’s appointment at 80.45%. This suggests institutional investors may have specific concerns regarding board composition or individual director profiles, despite supporting the company's financial distribution policy.

Shipping Corporation of India Limited has appointed Shri Vipul Singhal, Director (SBR) at the Ministry of Ports, Shipping and Waterways (MoPSW), as a Part-Time Government Nominee Director on its Board. The appointment became effective from September 25, 2026, coinciding with the date he obtained his Director Identification Number (DIN).

The intimation was submitted to stock exchanges under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. This disclosure follows an earlier approval by the Competent Authority conveyed via letter dated September 24, 2026. The event occurred at 10:00 am IST on September 28, 2026.

Appointment details

The Ministry of Ports, Shipping and Waterways communicated the approval through letter no. SS-11025/1/2024-SU. SCI confirmed that Shri Vipul Singhal is not related to any Director of the Company and is not debarred from holding the office of director by virtue of any SEBI order or other authority.

Profile of Shri Vipul Singhal

Mr. Vipul Singhal belongs to the Indian Railways Traffic Service (IRTS) of the 2008 batch. He holds a B.Tech in Ocean Engineering and Naval Architecture from the Indian Institute of Technology (IIT), Kharagpur. Currently serving as Director in the Ministry of Ports, Shipping & Waterways, his background includes significant experience in logistics, transport, and railways.

Key aspects of his professional profile include:

• Experience: Over 17 years in the logistics, transport, and railways sector.
• Domains: Passenger and freight train operations, safety in train operations, and planning for removal of infrastructural bottlenecks.
• Policy Role: Involved in policy formulation at the Ministry of Railways, specifically regarding passenger fares, ticketing, and digital ticketing initiatives.
• Training: Attended formal trainings at IIM Calcutta, a High Speed Rail study visit conducted by JICA in Japan, and field attachments in Ports, Iron Ore mines, and Container Depots.

Compliance and next steps

SCI stated that further details regarding the appointment were disclosed in compliance with SEBI listing regulations and the SEBI Master Circular dated January 30, 2026. The filing was signed by Swapnita Vikas Yadav, Company Secretary and Compliance Officer.