The Shipping Corporation of India Limited has announced key board changes following approval from the Ministry of Ports, Shipping and Waterways (MoPSW). The changes, effective February 23, 2026, involve the appointment of a new Government Nominee Director and the cessation of an existing board member.

New Government Nominee Director Appointment

The Ministry of Ports, Shipping and Waterways has conveyed approval from the Competent Authority for the appointment of Shri Mukesh Mangal as Government Nominee Director on SCI's board. The approval was communicated through letter no. SS-11025/1/2024-SU dated February 23, 2026.

The company is currently undertaking necessary actions to complete statutory formalities regarding Shri Mukesh Mangal's appointment. Requisite details in terms of Regulation 30 of the SEBI Listing Regulations will be communicated in due course of time.

Board Cessation

Simultaneously, the same ministerial communication informed that Shri R. Lakshmanan, Joint Secretary, MoPSW, will cease to exist from SCI's board with immediate effect. Shri R. Lakshmanan has accordingly ceased to be the Part-time Director (Government Nominee Director) from the board effective February 23, 2026.

Regulatory Compliance

The board changes have been communicated pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The notification was formally submitted to both BSE Limited and National Stock Exchange of India Limited on February 23, 2026.

The company has confirmed that it will provide additional details as required under SEBI Listing Regulations, as amended, read with SEBI Master Circular dated January 30, 2026, and other relevant circulars. The formal communication was signed by Smt. Swapnita Vikas Yadav, Company Secretary and Compliance Officer.

Shipping Corporation of India Limited has announced the appointment of Shri Nitin Khamesra as Director (Finance) effective February 23, 2026, marking the end of the temporary additional charge arrangement that was in place since January.

New Director Appointment

Shri Nitin Khamesra (DIN: 09595247) assumed charge as Director (Finance) on February 23, 2026, at 1630 hours, following the Order No.01/08/2025-EO(PE) dated January 31, 2026, from the Secretariat of the Appointments Committee of the Cabinet. The appointment represents a permanent solution to the finance leadership position that had been temporarily filled through an additional charge arrangement.

End of Additional Charge Arrangement

With Khamesra's appointment, Capt. Som Raj, Director (Personnel & Administration), ceased to hold the additional charge of Director (Finance) effective February 23, 2026, at 1630 hours. Som Raj had been managing both positions since January 1, 2026, under a three-month additional charge arrangement that received Cabinet approval in February.

Professional Background

Shri Nitin Khamesra brings over 28 years of extensive experience in financial management, project evaluation, and maritime logistics. A Chartered Accountant, Cost Accountant, and Computer Science graduate, he previously served as Chief General Manager at Indian Oil Corporation Limited (IOCL), where he held key leadership roles across multiple Strategic Business Units including Shipping, Refineries, International trade & Treasury Operations, and Management Accounts.

Industry Experience and Recognition

During his IOCL tenure, Khamesra served as Chartering & Finance Head (Shipping), supporting procurement of crude oil, LNG, LPG, and POL while managing end-to-end seaborne logistics. He also served as Finance Head of Gujarat Refinery, leading large finance teams and overseeing commercial, taxation, and project finance functions. A 4th Rank holder Chartered Accountant, he is a recipient of the prestigious Maharana Kumbha Award and P. Sarkar Award of ICWAI.

Regulatory Compliance

The company filed this disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Company Secretary and Compliance Officer Smt. Swapnita Vikas Yadav confirmed that Khamesra is not related to any company director and is not debarred from holding directorship by any regulatory authority.