The Shipping Corporation of India Limited has announced a significant senior management change through an internal promotion, bringing Mr. Jothi Krishnan Kandasamy into its senior management team as General Manager, effective December 24, 2025.

Promotion Details

The company disclosed this development in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The promotion was announced on December 24, 2025, at 17:00 hours.

Professional Background

Mr. Jothi Krishnan Kandasamy brings extensive experience and qualifications to his new role. He holds a Graduate degree in Computer Technology, an MBA in Finance and Marketing, and a Post Graduate Diploma in Human Resources.

His professional journey spans over 33 years across diverse business verticals, including:

• Budget Control
• Management Information System
• IT Network Management
• Software Development
• Drydock Operations
• International Shipping
• Training & Development
• Internal Audit

Career Progression at SCI

Mr. Kandasamy's association with the Shipping Corporation of India began in 1995 when he joined as a Junior Officer. His elevation to General Manager in December 2025 represents a significant milestone in his 30-year tenure with the company. In his new capacity, he will be heading the Internal Audit Department of the Finance Division.

Regulatory Compliance

The announcement was made in accordance with SEBI regulations, specifically under Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company also referenced the SEBI Master Circular dated November 11, 2024, ensuring full compliance with current regulatory requirements.

This internal promotion reflects the Shipping Corporation of India's commitment to recognizing and advancing talent from within the organization, particularly in critical areas such as internal audit and financial oversight.

Shipping Corporation of India (SCI) has reported a significant decline in its financial performance for the second quarter of the fiscal year. The company's net profit fell by 39% to Rs 176 crore, compared to Rs 290 crore in the same quarter last year. This decline comes amid challenging market conditions and reduced operating revenue.

Key Financial Highlights

The company's operating revenue decreased by 8% to Rs 1,339 crore from Rs 1,451 crore in the corresponding quarter of the previous year. The EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) also saw a decline of 13% to Rs 504 crore.

Segment Performance

SCI's segment-wise performance for the quarter showed mixed results:

The tanker segment emerged as the strongest contributor to the company's revenue during this period.

Half-Yearly Performance

For the first half of the fiscal year, SCI reported:

• Revenue: Rs 2,654 crore (10.4% decrease year-on-year)
• Net Profit: Rs 519 crore (10% decrease year-on-year)

Dividend Announcement

Despite the challenging quarter, SCI has declared an interim dividend of Rs 3 per share. The record date for this dividend has been set as November 19.

Market Response

The market responded positively to the news, with SCI's shares gaining 2.1% to close at Rs 265.95. This performance contributes to a 57% return over the past six months, indicating investor confidence in the company's long-term prospects despite the current headwinds.

Outlook

While the quarterly results show a significant decline in profitability, SCI's ability to maintain a substantial revenue stream and declare a dividend suggests resilience in its operations. The company's diverse segment portfolio, particularly the strong performance of its tanker segment, may help in navigating the current market challenges.

Investors and industry observers will be keenly watching SCI's strategies to improve profitability and capitalize on potential market recoveries in the coming quarters.