Meeting Details

  • Date and Time: Monday, 21st September 2026 at 1200 hours IST
  • Location: Conducted through Video Conferencing (VC)/Other Audio-Visual Means (OAVM) from the company's registered office, which was the deemed venue.
  • Type of Meeting: 5th Annual General Meeting

Attendance

  • Directors Present: Shri Nitin Khamesra (Director (Finance), DIN: 09595247) and Shri Venkatesapathy S (IAS, Joint Secretary, Ministry of Ports, Shipping and Waterways & Government Nominee Director, DIN: 07407879, joined via VC from New Delhi).
  • Chairman: Capt. B. K. Tyagi, Chairman & Managing Director, presided over the meeting.
  • Company Officials: Shri Mohammad Firoz (Company Secretary and Compliance Officer), Ms. Laxmi Kamath (Chief Financial Officer), and others were present from the deemed venue.
  • External Appointees: Ms. Alifya Sapatwala (Partner, M/s Mehta and Mehta, Scrutinizer), Mr. Upendra Shukla (Secretarial Auditor), and Mr. Harshil Chowatia (Representative of Statutory Auditor, M/s. A.T. Jain & Co.) attended via VC.
  • Shareholders: 63 shareholders were present through the VC/OAVM platform provided by NSDL.
  • Quorum: The requisite quorum under Section 103(1)(a)(iii) of the Companies Act, 2013 (30 members) was present.

Summary of Proposed Resolutions and Implications

The following five resolutions were proposed for shareholder approval:

I. Ordinary Business

1. Item No. 1: To receive, consider, and adopt the Audited Standalone Financial Statements for FY ended March 31, 2026, along with reports from the Board of Directors, Auditors, and comments from the Comptroller and Auditor General of India (C&AG) under Section 143(6).

2. Item No. 2: To approve and declare a dividend of ₹0.55 (Fifty Five Paise) per equity share (face value ₹10) for FY 2025-26 on 46,57,99,010 fully paid-up equity shares.

3. Item No. 3: To reappoint Shri Venkatesapathy S (DIN: 07407879), who retired by rotation under Section 152 of the Companies Act, 2013.

4. Item No. 4: To authorize the Board of Directors to fix the remuneration for the Statutory Auditors to be appointed by C&AG for FY 2026-27, based on the Audit Committee's recommendations.

II. Special Business

5. Item No. 5: To appoint Shri Nitin Khamesra (DIN: 09595247) as Director (Finance). He was appointed as an Additional Director by the Board with effect from March 11, 2026, pursuant to orders from the Ministry of Ports, Shipping and Waterways. His remuneration and tenure are to be decided by the Government of India.

Voting Process and Methods

The voting process was conducted as follows:

  • Remote E-Voting: Facility was provided by National Securities Depositories Limited (NSDL). It was open from Thursday, September 17, 2026, at 09:00 AM IST to Sunday, September 20, 2026, at 05:00 PM IST.
  • E-Voting during AGM: For shareholders who did not use remote e-voting, an e-voting facility was kept open during the meeting and for 15 minutes after its conclusion.
  • Scrutinizer: M/s Mehta and Mehta, Company Secretaries, represented by Ms. Alifya Sapatwala (Membership No. A24091), was appointed to scrutinize the entire e-voting process in a fair and transparent manner.

Key Voting Outcomes

Based on the scrutinizer's report submitted to the Company Secretary:

  • Total Resolutions: All five (5) resolutions were declared as passed with the requisite majority.
  • The detailed breakdown of votes (for, against, total cast, category-wise participation) was not provided in the minutes. The combined voting result was to be announced on the company and exchange websites within two working days post-meeting.

Scrutinizer's Role and Findings

The scrutinizer, Ms. Alifya Sapatwala, was responsible for scrutinizing the entire e-voting process. Her report confirmed the passage of all resolutions with requisite majority. The specific findings or conclusions were not detailed in the minutes.

Compliance with Laws and Regulations

The meeting was conducted in compliance with:

  • Circulars issued by the Ministry of Corporate Affairs (MCA) and Securities and Exchange Board of India (SEBI) regarding virtual meetings.
  • Provisions of the Companies Act, 2013, and rules made thereunder.
  • Secretarial Standards on General Meetings (SS-2).
  • SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The Chairman confirmed that all necessary steps were taken for members to attend and vote seamlessly.

Financial and Operational Highlights Presented

  • Financial Performance: The company recorded a profit before tax of ₹2,882 lakhs for FY 2025-26.
  • Dividend: A dividend of ₹0.55 per share was declared for FY 2025-26.
  • Operations: Managed by Shipping Corporation of India Ltd. (SCI) under a service level agreement.
  • Asset Management: Focus on effective management and optimum utilization of assets transferred pursuant to the Demerger Scheme, including leasing part of Shipping House, Kolkata, to the Chief Electoral Officer, West Bengal.
  • Initiatives: Efforts to strengthen the Maritime Training Institute (MTI), Powai, including MoUs with industry partners, Vadhvan Port Project Limited (VPPL), and NBCC (India) Limited for infrastructure upgradation.