MUMBAI – Mazagon Dock Shipbuilders Limited (MDL), India's premier defense public sector undertaking, has informed stock exchanges that Shri Chandu Sambasiva Rao (DIN: 02296283) has resigned from his position as an Independent Director, effective January 23, 2026.

The resignation comes at a time when the shipyard is aggressively expanding its international footprint and consolidating its role in major national defense projects.

Details of the Resignation

In its regulatory filing under Regulation 30 of the SEBI (LODR) Regulations, 2015, the company provided the following details:

• Reason for Departure: The director cited "personal and unavoidable circumstances."
• Material Confirmation: Shri Rao confirmed that there are no material reasons for his resignation other than those stated.
• Board Action: The Board of Directors has formally taken the resignation on record, and he has ceased to be a director of the company as of the close of business hours on January 23.

Strategic Context: MDL's Growing Momentum

While the resignation is a standard corporate board change, it occurs alongside several high-impact developments for the shipbuilder:

• International Expansion: On January 22, 2026, just a day before the resignation, MDL successfully acquired a 41.73% stake in Colombo Dockyard PLC (CDPLC), Sri Lanka. This strategic move marks MDL's first major overseas acquisition, aimed at boosting ship repair revenue and regional presence.
• Indo-German Submarine Deal: MDL remains at the center of negotiations for a projected $8 billion (₹72,000 crore) deal to construct six advanced conventional submarines with Air Independent Propulsion (AIP) technology in collaboration with Germany's ThyssenKrupp.
• Financial Health: The company recently reported robust Q2 FY26 results with a 28% YoY increase in net profit to ₹749 crore and maintains a solid order book exceeding ₹27,400 crore.