SCI Land & Assets (SCILAL) has announced robust financial results for the first quarter, along with the appointment of a new Secretarial Auditor.

Financial Highlights

SCILAL reported a significant increase in its total segment revenue, reaching ₹2,681.00 crore compared to ₹2,462.00 crore in the same quarter last year. This represents a year-on-year growth of approximately 8.9%.

The company's profit before tax (PBT) also saw a substantial rise, standing at ₹1,935.00 crore, up from ₹1,630.00 crore in the previous year's corresponding quarter, marking an increase of about 18.7%.

Segment Performance

SCILAL operates through two primary segments:

1. MTI (Maritime Training Institute): This segment generated revenue of ₹490.00 crore.
2. Others: This segment, which includes investment property, HRA & HRR recovery, rent income, and interest income, contributed ₹2,191.00 crore to the total revenue.

The 'Others' segment was the primary driver of profitability, with a segment result of ₹1,933.00 crore before tax and interest.

Asset and Liability Position

As of the end of the quarter, SCILAL's total segment assets stood at ₹352,501.00 crore, showing a slight increase from ₹350,110.00 crore reported in the same quarter of the previous year. The MTI segment accounted for ₹241,338.00 crore of the total assets, while the 'Others' segment held ₹111,163.00 crore.

Total segment liabilities were reported at ₹50,917.00 crore, with the 'Others' segment accounting for the majority at ₹46,599.00 crore.

Appointment of New Secretarial Auditor

In a significant corporate governance move, SCILAL's Board of Directors has approved the appointment of M/s Upendra Shukla & Associates as the company's Secretarial Auditor. The appointment is for a term of five consecutive financial years, subject to shareholder approval at the upcoming Annual General Meeting.

Upendra Shukla & Associates, led by Mr. Upendra C. Shukla, is a Mumbai-based firm of Company Secretaries with extensive experience in providing comprehensive professional services in Company Law, SEBI Regulations, FEMA, and various corporate restructuring activities.

Additional Notes

The company received a 'NIL' comment from the Comptroller & Auditor General of India (C&AG) for its financial statements for the previous year, indicating no significant issues were found during the audit.

SCILAL's Board of Directors reviewed and approved these unaudited standalone financial results. The results have been prepared in accordance with Indian Accounting Standards (Ind AS) and other accounting principles generally accepted in India.

The strong quarterly results and the appointment of a reputed Secretarial Auditor reflect SCILAL's commitment to financial growth and robust corporate governance practices.

SCI Land & Assets (SCILAL) has announced a significant change in its board composition, as approved by the Ministry of Ports, Shipping and Waterways. The company is set to welcome a new Government Director while bidding farewell to its current one.

New Appointment

Shri Venkatesapathy S., who currently serves as Joint Secretary (Shipping) at the Ministry of Ports, Shipping and Waterways, has been appointed as the new Government Director on SCILAL's Board. This appointment is slated to take effect from July 28, 2025.

Outgoing Director

Simultaneously, Shri Rajesh Kumar Sinha, Special Secretary at the ministry, has ceased to be the Government Nominee Director on SCILAL's Board. His tenure concluded on the same date as Shri Venkatesapathy S.'s appointment.

Regulatory Compliance

SCILAL has stated that it is taking the necessary steps to complete all statutory formalities regarding the new appointment. The company has committed to providing all requisite details in accordance with regulatory requirements in due course.

Official Communication

The changes were officially communicated to the company through a letter (no. SS-11025/1/2024-SU) from the Ministry of Ports, Shipping and Waterways, dated July 28, 2025. The letter conveyed the approval of the Competent Authority for these board changes.

Investors and stakeholders will be keenly watching how these changes in the board composition might influence the company's strategic direction and governance in the coming months.