Mazagon Dock Nominees Appointed to Colombo Dockyard Board 📈

Colombo Dockyard PLC (CDPLC) has officially appointed several new directors nominated by its major shareholder, India’s Mazagon Dock Shipbuilders Ltd (MDL), effective February 24, 2026. This follows MDL's recent acquisition of a 41.73% stake (164.9 Mn shares) as part of a US$ 52.96 Mn strategic investment to revive the facility. • New Board Appointments • Capt. Jagmohan: Chairman & MD of MDL (Non-Executive, Non-Independent Director). • Biju George: Director (Shipbuilding) of MDL. • Ruchir Agrawal: Director (Finance) of MDL. • Thimira S. Godakumbura: Current MD/CEO of CDPLC, now representing MDL. • Strategic Context • The shift reflects MDL’s increasing oversight as it moves toward securing a 51% controlling interest via an ongoing mandatory offer at Rs. 40.00 per share. • The partnership aims to integrate Sri Lanka’s shipbuilding & heavy engineering sector into regional supply chains and resolve long-standing working capital constraints. • Governance & Growth • Nominees bring expertise in naval architecture, defense operations, and finance to strengthen strategic oversight. • Appointments were approved by the Nomination and Governance Committee in compliance with CSE listing rules.