The decision was approved by the Nomination and Remuneration Committee and the Board of Directors at their meeting held on 23 March 2026, the company said in a regulatory filing. Capt. S. Divakar has been appointed as Managing Director and Chief Executive Officer, Additional Director (Executive and Non-Independent) and Key Managerial Personnel of the company.
According to the company, he will hold office as an Additional Director until the next General Meeting, which will be convened within three months from the date of the board’s approval. At the meeting, shareholders’ approval will be sought for his regular appointment as a Non-Independent Executive Director until he attains the age of 60 years, or until further orders, whichever is earlier.
Capt. S. Divakar currently serves as Chief General Manager and has also been holding additional charge of Managing Director and CEO. He began his career with the company in 1987 as a cadet under the All India Dredging Cadre and served on dredgers in various capacities for around 22 years, progressing from cadet to captain and eventually becoming Master of Dredger.
After gaining operational experience, he moved to shore service and spent about 16 years in senior management roles. Over his career spanning nearly 38 years, he has worked both onboard dredgers and in onshore positions, gaining expertise in dredging operations as well as techno-commercial aspects of the business.
Capt. S. Divakar holds a Dredge Master Grade-I Certificate of Competency and also serves as a Director at Sethusamudram Corporation Limited.
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Shares of Dredging Corporation of India Limited closed at ₹825.50 on the NSE, down ₹52.65 or 6.00%, while the stock was trading at ₹825.00, lower by ₹53.15 or 6.05%.
