TRANSWORLD SHIPPING LINES LIMITED has informed the Exchange regarding Proceedings of Annual General Meeting held on August 22, 2025
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Transworld Shipping Lines (formerly Shreyas Shipping & Logistics) held its 37th AGM on August 22, 2025 via video conferencing, chaired by Executive Chairman Mr. Sivaswamy Ramakrishnan Iyer. The meeting was attended by 43 shareholders representing 1.54 crore equity shares, and six resolutions were put to vote including adoption of FY25 audited financials, a dividend of Rs. 1.50 per share (15% on face value of Rs. 10), re-appointment of two independent directors and one non-executive director, and appointment of a new secretarial auditor. The Chairman highlighted a strong turnaround with standalone revenue rising to Rs. 44,627 lakhs (from Rs. 28,239 lakhs), EBITDA more than doubling to Rs. 16,388 lakhs, and EPS turning positive at Rs. 15.47 versus a loss of Rs. 23.24 in the prior year. The statutory auditor issued a qualified opinion on FY25 results due to a Rs. 1,341 lakh reversal of an insurance claim related to the MY SSL Brahmaputra fire (January 2024); net worth and total assets remain unchanged. Management also flagged plans to acquire 100% equity in two Transworld group logistics subsidiaries and to partner with Bainbridge Navigation DMCC for a UAE-based Handysize dry bulk shipping pool.
The AGM outcome is positive for shareholders — a declared dividend of Rs. 1.50 per share and a sharp profitability turnaround (EPS swung from Rs. 23.24 loss to Rs. 15.47 profit) signal improved cash returns and operating health. However, the auditor's qualified opinion on the Rs. 1,341 lakh insurance claim reversal and disclosed SEBI compliance lapses (late related-party disclosures and Risk Management Committee meeting gaps) are minor negatives investors should track; final voting results on the six resolutions are awaited separately.