Chowgule Steamships Reports Mixed Half-Year Results, Approves Director Remuneration

Chowgule Steamships Limited has released its unaudited financial results for the quarter and half-year ended September 30, 2025, revealing a mixed performance. The company, which operates solely in the shipping business segment, saw a decline in total income but maintained profitability.

Financial Highlights

*Non-annualized

The company's total income for the half-year stood at ₹283.78 lakhs, down from ₹350.91 lakhs in the corresponding period of the previous year, marking a 19.13% decrease. Despite the revenue decline, Chowgule Steamships managed to maintain profitability, albeit at a lower level. The profit after tax for the half-year was reported at ₹43.54 lakhs, compared to ₹84.21 lakhs in the prior period, representing a 48.30% decrease.

Operational Performance

For the quarter ended September 30, 2025, Chowgule Steamships reported:

• Revenue from operations: ₹75.83 lakhs
• Other income: ₹42.68 lakhs
• Total income: ₹118.51 lakhs
• Profit before tax: ₹22.79 lakhs
• Profit after tax: ₹15.56 lakhs

The company's earnings per share (EPS) for the half-year stood at ₹0.12, down from ₹0.23 in the same period last year.

Board Decisions

In a board meeting held on November 12, 2025, Chowgule Steamships' directors made several key decisions:

1. Approval of the standalone unaudited financial results for the quarter and half-year ended September 30, 2025.
2. Recommendation for remuneration to be paid to Mr. Vijay Chowgule, Whole-Time Director, subject to shareholder approval at the upcoming General Meeting.
3. Decision to convene an Extra-Ordinary General Meeting to obtain shareholder approval on related matters.

Corporate Actions

The company has also reported that its wholly-owned subsidiary, Chowgule Steamships Overseas Limited, has been dissolved from the Guernsey Registry as of June 16, 2025. This follows a final meeting of CSOL members held on March 13, 2025, where the resolution for dissolution was passed.

Market Implications

While Chowgule Steamships has maintained profitability, the significant decrease in total income and profit after tax may raise concerns among investors. The shipping industry continues to face challenges, and the company's performance reflects these sector-wide pressures.

The approval of remuneration for the Whole-Time Director and the convening of an Extra-Ordinary General Meeting suggest that the company may be considering strategic changes or seeking shareholder input on important matters.

Investors and market watchers will likely keep a close eye on the outcomes of the upcoming General Meeting and any strategic initiatives the company may announce to address the decline in financial performance.