Gujarat pipavav port Limited has announced the resignation of Mr. Rajkumar Beniwal, IAS, from its Board of Directors, effective December 29, 2025. The company received formal notification of the resignation on January 19, 2026, through an email from Gujarat Maritime Board (GMB).

Resignation Details

The resignation stems from a government notification issued by the General Administrative Department, Government of Gujarat, dated December 23, 2025, which relieved Beniwal from his position as Vice Chairman & Chief Executive Officer of Gujarat Maritime Board.

Multiple Board Resignations

Beniwal's resignation was not limited to Gujarat Pipavav Port Limited. He simultaneously resigned from the boards of several other port and infrastructure companies:

• Gujarat Port Infrastructure and Development Company Limited
• GSPC LNG Limited
• Adani Ports and Special Economic Zone Limited
• Gujarat Chemical Port Limited
• Swan LNG Private Limited
• Gujarat Port and Logistics Company Limited

This comprehensive resignation across multiple entities reflects the interconnected nature of his previous role at Gujarat Maritime Board and his nominee director positions.

Regulatory Compliance

Gujarat Pipavav Port Limited has confirmed it will continue to comply with Regulation 17 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, regarding board composition. The company has made the resignation details available on its website at www.pipavav.com as part of its transparency obligations.

Formal Communication

The resignation letter, dated December 29, 2025, expressed Beniwal's appreciation for the cooperation and support received from board members during his tenure. Company Secretary & Compliance Officer Manish Agnihotri handled the formal communication to stock exchanges, ensuring proper regulatory disclosure under Regulation 30 of SEBI regulations.

The resignation represents a routine administrative change following government personnel transfers, with the company maintaining its commitment to regulatory compliance and governance standards.

Gujarat Pipavav Port Ltd reported mixed operational results for the third quarter of FY26, with container volumes experiencing a marginal decline while other cargo segments demonstrated strong growth. The private sector port operator informed exchanges on January 8, 2025, about its operational performance for the quarter and nine months ended December 2025.

Container Operations Show Marginal Decline

The port's container handling operations faced headwinds during the quarter, with volumes declining to 174,000 TEUs from 177,000 TEUs in the corresponding quarter of the previous year. This represents a 1.7% year-on-year decrease in container throughput. Container train operations during the quarter reached 438 trains, supporting the port's multimodal connectivity infrastructure.

Strong Performance in Bulk and Specialized Cargo

Despite the container segment challenges, other cargo categories delivered impressive growth numbers during Q3 FY26:

The roll-on/roll-off segment emerged as a standout performer, with traffic surging by 40.9% year-on-year. This growth reflects the increasing demand for automotive and heavy machinery transportation through the port.

Nine-Month Performance Highlights

On a cumulative basis for the nine months ended December 2025, Gujarat Pipavav Port demonstrated robust operational performance across multiple segments:

These figures reflect strong year-to-date performance compared to the corresponding period last year, showcasing the port's ability to maintain growth momentum despite quarterly fluctuations in specific segments.

Strategic Investment Initiative

In October 2025, the company strengthened its growth prospects by signing a Memorandum of Understanding with the Gujarat Maritime Board. This strategic partnership involves proposed investments worth ₹17,000 crore, positioning the port for significant capacity expansion and infrastructure development in the coming years.

Market Performance

Shares of Gujarat Pipavav Port were trading at ₹186.64 apiece as of 12:52 pm, representing a 1.29% decline from the day's opening price. The mixed operational results and strategic investment announcements continue to influence investor sentiment regarding the company's near-term prospects.