Cochin Shipyard Limited has announced updates to its Key Managerial Personnel authorization framework following the retirement of its Chairman and Managing Director and subsequent interim leadership arrangements.

Leadership Transition Details

The company disclosed under Regulation 30 of SEBI LODR Regulations that Shri Madhu Sankunny Nair, Chairman and Managing Director, retired on superannuation from his services on January 31, 2026. This marks the end of his tenure at the helm of the state-owned shipbuilding company.

Interim Leadership Arrangement

To maintain leadership continuity, Shri Jose V J, currently serving as Director (Finance), has been appointed to hold additional charge of the Chairman and Managing Director position. This appointment comes through a directive from the Ministry of Ports, Shipping and Waterways, Government of India, issued via letter no. SY-11011/1/2009-CSL dated January 28, 2026.

The interim arrangement is structured for a specific timeframe, with Jose V J holding the additional charge for a period of 3 months effective February 01, 2026, or until further orders from the ministry, whichever occurs earlier.

Updated Key Managerial Personnel Authorization

Pursuant to Regulation 30(5) of SEBI LODR Regulations, the company has updated its list of Key Managerial Personnel authorized by the Board of Directors for determining materiality of events and making disclosures to stock exchanges.

Regulatory Compliance

The company has fulfilled its disclosure obligations by informing both major stock exchanges - BSE Limited and The National Stock Exchange of India Ltd. - about these changes. The announcement was made pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, which mandates disclosure of material events and information.

This update ensures proper governance structure and compliance framework remains in place during the leadership transition period, with clearly defined personnel responsible for regulatory disclosures and materiality assessments.

Cochin Shipyard Limited has secured a significant order for the construction of two green tugs from a domestic client, with the contract value estimated between ₹100 crore to ₹250 crore. This major order represents a notable addition to the company's order book and highlights the increasing focus on environmentally sustainable marine vessels.

Order Details

The contract specifications demonstrate the company's capabilities in green maritime technology:

Strategic Significance

This order reinforces Cochin Shipyard's position in the eco-friendly marine vessel segment. Green tugs represent advanced maritime technology designed to reduce environmental impact while maintaining operational efficiency. The contract from a local client also demonstrates the company's strong domestic market presence.

Market Impact

The substantial order value range indicates the premium nature of green maritime technology and the willingness of clients to invest in environmentally sustainable solutions. This development aligns with the broader industry trend toward cleaner marine transportation and port operations.

The order addition strengthens Cochin Shipyard's business prospects and showcases its technical expertise in delivering specialized marine vessels that meet modern environmental standards.