Meeting Details

The 76th Annual General Meeting was held on Wednesday, September 23, 2026 through Video Conferencing (VC) / Other Audio Visual Means (OAVM).

  • Meeting commenced at: 1200 hours IST
  • Meeting concluded at: 1320 hours IST (duration: 80 minutes)
  • Deemed venue: Registered Office of the Company at "Shipping House", 245, Madame Cama Road, Mumbai – 400021
  • Total members attended: 75 through VC/OAVM
  • Quorum: 30 members present as required under section 103 of Companies Act, 2013

Voting Arrangements

  • Remote e-voting period: Saturday, 19th September, 2026 at 0900 hours IST to Tuesday, 22nd September, 2026 at 1700 hours IST
  • E-voting facility also available during AGM for members who did not use remote e-voting
  • Scrutinizer appointed: M/s Mehta and Mehta, Company Secretaries (represented by Ms. Alifya Sapatwala, Partner, M. No. A24091)
  • Voting results to be announced within two working days from meeting conclusion

Attendance

Key attendees included:

  • Capt. B. K. Tyagi, Chairman & Managing Director (Chair)
  • Whole-time Directors
  • Company Secretary
  • Chief Financial Officer
  • Smt. Bharati Raman Gotarna (Chairperson of Audit Committee, Nomination and Remuneration Committee, Risk Management Committee, and Stakeholders' Relationship Committee)
  • Capt. P K Sahoo
  • Shri. Mukesh Mangal (Additional Secretary, MoPSW and Government Nominee Director)
  • Scrutinizer
  • Secretarial Auditor
  • Statutory Auditors

Business Transacted

I. Ordinary Business

1. Adoption of Financial Statements

  • Receipt, consideration and adoption of Audited Standalone and Consolidated Financial Statements for Financial Year ended March 31, 2026
  • Includes Reports of Board of Directors and Auditors
  • Includes Comments of Comptroller and Auditor General of India (C&AG)

2. Dividend Declaration

  • Confirmation of payment of 1st Interim dividend: ₹3.00 per equity share
  • Confirmation of payment of 2nd Interim dividend: ₹3.50 per equity share
  • Approval and declaration of Final dividend: ₹1.00 per Equity Share (face value ₹10 each) for Financial Year 2025-26
  • Total interim dividends: ₹6.50 per share

3. Director Re-appointment

  • Appointment of director in place of Capt. Som Raj (DIN: 11046394) who retires by rotation
  • Director offered himself for re-appointment

4. Auditor Remuneration

  • Authorization to Board of Directors to decide and fix remuneration of Statutory Auditors appointed by C&AG for FY 2026-27
  • Based on recommendation of Audit Committee

II. Special Business

5. Appointment of Whole-Time Director (Finance)

  • Appointment of Shri Nitin Khamesra (DIN: 09595247) as Whole-Time Director (Finance)

6. Appointment of Government Nominee Director

  • Appointment of Shri Mukesh Mangal (DIN: 10460089) as Government Nominee Director

7. Appointment of Whole-Time Director (Bulk Carriers & Tankers)

  • Appointment of Capt. Chandran Durai Daniel (DIN: 11283179) as Whole-Time Director (Bulk Carriers & Tankers)

8. Appointment of Independent Director

  • Appointment of Smt. Bharati Raman Gotarna (DIN: 11902357) as Non-official (Independent) Director

Chairman's Briefing

The Chairman provided updates on:

  • Prevailing global and Indian shipping market scenario
  • Impact of geopolitical developments on maritime trade and operations
  • Shipping scenario and operations
  • Financial results for FY 2025-26 and Q1 FY 2026-27
  • Declaration and payment of interim dividends and recommendation of final dividend
  • Fleet augmentation initiatives including acquisition of two VLGCs
  • Signing of Shipbuilding Contract with Mazagon Dock Shipbuilders Ltd. for construction and delivery of one 3000 DWT Methanol Dual Fuel Platform Supply Vessel (PSV)
  • Decarbonisation and sustainability initiatives
  • Strategic Memorandum of Understanding (MoUs) entered into for strengthening shipping, energy and logistics capabilities
  • Human Resource development and employee welfare initiatives
  • Demerger and Strategic Disinvestment of SCI
  • Corporate Social Responsibility initiatives
  • Awards and Accolades received
  • Corporate Governance practices
  • Future business prospects and strategic initiatives

Additional Information

  • Annual Report for FY 2025-26 available on company website, stock exchanges, and NSDL
  • Members can inspect Register of Directors and Key Managerial Personnel, Shareholding, Minutes book, or other statutory books by request to Company Secretary at sci.cs@sci.co.in
  • Audited Financial Statements available on company website
  • No comments received from Statutory Auditors on Financial Statements of FY 2025-26
  • CAG comments on Standalone and Consolidated Financial Statements related to disclosure requirements
  • Observations/qualifications in Secretarial Auditors' Report for FY 2025-2026 with management response