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.

Dividend and financial approvals

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.

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. The shareholders also approved the appointment of new directors to strengthen the board's expertise in finance, operations, and independent oversight.

Key appointments ratified during the meeting include:

• Nitin Khamesra as Whole-Time Director (Finance)
• Mukesh Mangal as Government Nominee Director
• Capt. Chandran Durai Daniel as Whole-Time Director (Bulk Carriers & Tankers)
• Bharati Raman Gotarna as Non-official (Independent) Director

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.

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.

Shipping Corporation of India has appointed Mukund M Chitale & Co and S G C O & Co LLP as its joint statutory auditors for the financial year 2026-27. The appointment was notified to stock exchanges on September 8, 2026.

The decision follows a communication from the Comptroller and Auditor General of India (C&AG), exercising powers under Section 139 of the Companies Act, 2013. The firm will audit the company's standalone financial statements. The same auditors will also serve as auditors for the consolidated financial statements under Section 139 read with Section 129(4) of the Act.

Auditor Details

The appointed firms are based in Mumbai. Their specific details are as follows:

Regulatory Compliance

The notification was issued in compliance with Regulation 30 and Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company stated that further details regarding auditor remuneration and other services will be disclosed in due course, as per SEBI Master Circular dated January 30, 2026.

Supplementary Audit

The supplementary and test audit under Sections 143(6) and 143(7) of the Companies Act, 2013, has been entrusted to the Principal Director of Audit, Shipping, located in Chennai. The appointment is subject to conditions stipulated in Annexure-I of the C&AG guidelines.