Great Eastern Shipping Company , India's largest private sector shipping company, has announced significant leadership changes effective November 9, 2025. These changes mark the end of an era and the beginning of a new chapter in the company's storied history.

K.M. Sheth's Extraordinary Legacy

Mr. K.M. Sheth, the Non-Executive Chairman of the company, has decided to step down from his position as Chairman and member of the Board due to age-related reasons. Mr. Sheth's association with Great Eastern Shipping has been nothing short of extraordinary, spanning an impressive 73 years.

Mr. Sheth's journey with the company began in 1952 when he joined at the young age of 20. His dedication and expertise led to his appointment to the Board in 1970, and he subsequently became Chairman & Managing Director in 1992. Throughout his tenure, Mr. Sheth has steered the company through the volatile cycles of global shipping, contributing significantly to its growth and success.

In recognition of his lifelong service and invaluable contribution to both the company and the Indian maritime industry, the Board has appointed Mr. K.M. Sheth as 'Chairman Emeritus' of the company for life, effective November 9, 2025. This honorary position comes without remuneration, underlining the respect and gratitude the company holds for Mr. Sheth's leadership.

New Leadership at the Helm

As part of this transition, the Board has appointed Mr. Bharat K. Sheth, currently serving as Deputy Chairman and Managing Director, to the position of Chairman of the company. Effective November 9, 2025, Mr. Bharat K. Sheth will be re-designated as 'Chairman and Managing Director'.

Mr. Bharat K. Sheth's journey with Great Eastern Shipping began in 1981 after he obtained his Bachelor of Science (Economics) with honours from St. Andrews University, Scotland. His career progression within the company is noteworthy:

Throughout his career, Mr. Bharat K. Sheth has gained extensive expertise in chartering and Sale & Purchase activities, which are crucial aspects of the shipping business.

Family Ties in Leadership

It's worth noting that the leadership of Great Eastern Shipping has strong family ties. Mr. Bharat K. Sheth is the son of Mr. K.M. Sheth and the brother of Mr. Ravi K. Sheth, who serves as a Non-Executive Director of the company.

Financial Update

Coinciding with these leadership changes, the company has also declared its second interim dividend for the fiscal year 2025-26. Shareholders will receive Rs. 7.20 per share, with the record date set for November 13, 2025. The interim dividend is scheduled to be paid to shareholders on or after December 2, 2025.

As Great Eastern Shipping enters this new phase of leadership, the company looks to build upon its strong foundation of professional excellence, sound governance, and financial prudence established under Mr. K.M. Sheth's guidance. The transition represents not just a change in leadership, but a continuation of the values and vision that have made Great Eastern Shipping a leader in India's maritime sector.

Great Eastern Shipping Company , India's largest private sector shipping company, has reported a mixed set of financial results for the second quarter of the fiscal year. The company also announced significant leadership changes, marking the end of an era and the beginning of a new chapter in its corporate history.

Financial Performance

Great Eastern Shipping Company's Q2 financial results paint a picture of resilience amidst challenging market conditions:

Despite a decline in revenue, the company managed to improve its EBITDA margin and slightly increase its net profit, demonstrating effective cost management and operational efficiency.

Dividend Declaration

The Board of Directors has declared a second interim dividend of ₹7.20 per share for the fiscal year 2025-26. Shareholders on record as of November 13, 2025, will be eligible to receive the dividend, which is scheduled to be paid on or after December 2, 2025.

Leadership Transition

In a significant development, Mr. K. M. Sheth, the Non-Executive Chairman of Great Eastern Shipping Company, has decided to step down from his position effective November 9, 2025, citing age-related reasons. Mr. Sheth's tenure with the company spans over seven decades, having joined in 1952 at the age of 20 and serving on the Board since 1970.

Recognizing his extraordinary contributions, the Board has appointed Mr. K. M. Sheth as 'Chairman Emeritus' for life, an honorary position without remuneration.

Concurrently, Mr. Bharat K. Sheth, currently serving as Deputy Chairman and Managing Director, will assume the role of Chairman and Managing Director effective November 9, 2025. Mr. Bharat K. Sheth, who joined the company in 1981, has been instrumental in steering the company through various market cycles and has been on the Board since 1989.

Market Implications

The mixed financial results, coupled with the leadership transition, may have varying implications for Great Eastern Shipping Company's market position:

1. The improved EBITDA margin suggests operational resilience despite revenue challenges.
2. The consistent dividend payout signals confidence in the company's financial stability.
3. The smooth leadership transition, keeping the management within the founding family, may provide continuity in vision and strategy.

As Great Eastern Shipping Company navigates through this transition and the current market conditions, investors and industry observers will be keenly watching how these changes impact the company's future performance and market standing.