Mazagon Dock AGM Authorizes Auditor Remuneration for FY26, Declares Final Dividend of ₹2.71

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Mazagon Dock Shipbuilders Limited held its 92nd Annual General Meeting (AGM) on September 26, 2025, via video conferencing, during which the board authorized the fixing of remuneration for the Statutory Auditors for the financial year 2025-26 and declared a final dividend of ₹2.71 per equity share.

The meeting, which commenced at 11:00 hours and concluded at 12:20 hours, saw 88 members participating through video conferencing. Capt. Jagmohan (Retd.), Chairman & Managing Director of the Company, presided over the proceedings.

Key highlights from the meeting included:

• Authorization for the Board of Directors to fix the remuneration of the Statutory Auditors for the financial year 2025-26, in compliance with the orders and directions of the Comptroller and Auditor General of India and in terms of the provisions of Section 139(5) and Section 142 of the Companies Act, 2013.
• Appointment of Cdr. Vasudev Puranik, IN (Retd.), as a Director, who retires by rotation and offers himself for re-appointment.
• Approval of the appointment of M/s SVJS Associates as Secretarial Auditors of the Company via an Ordinary Resolution.
• Ratification of the remuneration of Cost Auditors via an Ordinary Resolution.
• Approval of the appointment of Shri. Rajeev Prakash as Government Nominee Director of the Company via an Ordinary Resolution.
• Approval of the appointment of Capt. Jagmohan (Retd.) as Chairman & Managing Director of the Company via an Ordinary Resolution.
• Approval of the appointment of Shri. Ruchir Agrawal as Director (Finance) of the Company via an Ordinary Resolution.
• Approval of the appointment of Cmde. S B Jamgaonkar (Retd.) as Director (Submarine & Heavy Engineering) of the Company via an Ordinary Resolution.
• Approval of the appointment of Dr. Vivek Atul Bhuskute as an Independent Director of the Company via a Special Resolution.
• Approval of the appointment of Smt. Veni Thapar, as an Independent Director of the Company via a Special Resolution.
• Approval of the appointment of Shri. Kedarnath Gupta, as an Independent Director of the Company via a Special Resolution.

The board also confirmed the payment of the first interim dividend of ₹23.19 per equity share (₹10 each), paid in November 2024, and the second interim dividend of ₹3 per equity share (₹5 each), paid in May 2025. A final dividend of ₹2.71 per equity share (₹5 each) for the financial year ended March 31, 2025, was also declared.

During the AGM, the Chairman addressed the members on the company's performance for the financial year 2024-25. The Statutory Auditors' Reports, including comments from the Comptroller and Auditor General of India, did not contain any qualifications, reservations, adverse remarks, or disclaimers.

Lalatendu Acharya, the Company Secretary and Compliance Officer, confirmed that arrangements were made with NSDL for a live webcast of the meeting proceedings. Members were able to participate on a first-come-first-serve basis, in accordance with the circulars issued by the Ministry of Corporate Affairs and applicable provisions of the Companies Act, 2013, and SEBI LODR Regulations, 2015.