Shipping Corporation of India logo

Shipping Corporation of India

SCI NSE

Key Fundamentals

MicrocapShippingTransport Services
Market Cap
₹13,028 Cr
Volatility
Moderate
P/E Ratio
8.08
EBITDA
₹2,633 Cr
Return on Equity
14.87%
Debt to Equity
0.29
Book Value
₹195.28
EPS
₹17.15
52W High
₹368.75
52W Low
₹195.55

Tapetide Score

Data-driven rating, 0–100. How it works →

Key Insights

Strengths

1
  • Company has been maintaining a healthy dividend payout of 21.9%

Weaknesses

5
  • The company has delivered a poor sales growth of 9.31% over past five years.
  • Tax rate seems low
  • Company has a low return on equity of 11.6% over last 3 years.
  • Contingent liabilities of Rs.4,099 Cr.
  • Working capital days have increased from 58.5 days to 140 days

Growth Rate

Revenue Growth
7.35% higher than 3Y
Net Income Growth
60.37% higher than 3Y
Cash Flow Change
58.12% higher than 3Y
ROE
46.5% higher than 3Y
ROCE
38.7% lower than 3Y
EBITDA Margin (Avg.)
25.2% lower than 3Y

AI Analysis — Bull vs Bear

Anthropic anthropic claude-opus-4.6 31d ago
AI opinion · based on fundamentals
Risk high

Shipping Corporation of India trades at a PE of 8.6x with a market cap of Rs.14,021 Cr, having delivered 79% TTM profit growth and 43% stock CAGR over the past year. However, the company faces challenges including poor 5-year sales growth of 9%, rising working capital days from 60 to 146 days, and contingent liabilities of Rs.4,305 Cr.

Bull Case 8
  • TTM profit growth of 79% indicates a strong earnings recovery cycle benefiting from elevated freight rates
  • PE of 8.6x is significantly below broader market averages, suggesting the stock is not priced for perfection
  • Last year ROE of 16% is notably above the 10-year average of 8%, showing improving capital efficiency
  • Dividend yield of 2.18% with a consistent 18.4% payout ratio provides tangible shareholder returns
  • Stock CAGR of 42% over 3 years and 30% over 5 years reflects sustained re-rating by the market
  • TTM sales growth of 17% marks a significant acceleration versus the 0% 3-year compounded sales growth
  • Price-to-book of 1.53x is modest for a company with improving profitability and hard asset backing in vessels
  • Compounded profit growth of 14% over 5 years demonstrates medium-term earnings traction despite cyclical headwinds
Bear Case 8
  • Working capital days have surged from 60.3 to 146 days, indicating significant deterioration in cash conversion efficiency
  • Contingent liabilities of Rs.4,305 Cr represent roughly 31% of current market cap, posing material balance sheet risk
  • 5-year compounded sales growth of only 9% reflects structural top-line challenges in a cyclical industry
  • 3-year compounded sales growth of 0% shows revenue stagnation prior to the recent TTM uptick
  • 3-year average ROE of 11.8% remains below cost-of-equity benchmarks for capital-intensive shipping businesses
  • Low reported tax rate raises questions about earnings quality and sustainability of reported net profits
  • 10-year compounded profit growth of only 6% highlights the deeply cyclical nature with extended periods of weak earnings
  • 10-year stock CAGR of 19% versus 1-year CAGR of 43% suggests much of the value creation is recent and potentially cycle-dependent

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

Anthropic anthropic claude-opus-4.6 28d ago
Positives 2
  • Q1 profit jumps 75% YoY Aug 7

    Net profit surged to ₹6.2B from ₹3.54B YoY, with revenue growing 42% to ₹18.5B from ₹13B, reflecting broad-based operational improvement.

  • EBITDA margin expands to 48% Aug 7

    EBITDA improved to ₹8.82B from ₹4.9B YoY, with margin expanding significantly to 47.79% from 37.16%, indicating strong cost discipline and pricing power.

Neutral 1
  • Legal head exits to NFRA Jul 23

    Chief Manager (Law) Mr. Panduranga Vittal Pamidimokkala ceased his role effective July 22, 2026, to join NFRA as Executive Director.

TL;DR: SCI delivered a standout Q1 with 75% profit growth and nearly 11 percentage points of margin expansion, signaling strong freight rate realization and operational leverage. No material headwinds surfaced in recent news. The departure of the legal head to NFRA is routine and unlikely to impact operations. The trend is clearly improving, and sustained freight market strength could support continued outperformance.

Quarterly Results

Particulars Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales
1,200
1,093
1,341
1,413
1,514
1,451
1,316
1,325
1,316
1,339
1,612
1,513
1,847
Expenses
837
858
924
1,005
1,005
918
958
961
827
932
934
910
1,009
Operating Profit
363
236
417
407
510
533
357
365
489
406
678
603
837
OPM %
30%
22%
31%
29%
34%
37%
27%
28%
37%
30%
42%
40%
45%
Other Income
51
94
25
113
49
43
45
88
157
111
69
147
110
Interest
35
56
40
40
40
43
64
39
31
47
48
47
37
Depreciation
197
200
251
241
220
234
255
243
250
256
271
287
282
PBT
182
74
151
239
298
298
84
171
366
214
427
416
628
Tax %
5%
11%
11%
-29%
2%
2%
10%
-8%
3%
12%
5%
3%
1%
Net Profit
172
66
134
307
291
291
76
185
354
189
405
405
619
EPS in Rs
3.68
1.41
2.88
6.6
6.26
6.26
1.62
3.97
7.6
4.06
8.69
8.69
13.3
Figures in ₹ Crores

Profit & Loss

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
4,311
4,050
3,447
3,469
3,873
4,425
3,703
4,995
5,794
5,047
5,606
5,780
6,310
Expenses
3,396
2,688
2,667
2,793
3,160
3,283
2,544
3,465
4,237
3,624
3,841
3,593
3,785
Operating Profit
916
1,362
780
677
713
1,143
1,159
1,530
1,557
1,423
1,765
2,186
2,525
OPM %
21%
34%
23%
20%
18%
26%
31%
31%
27%
28%
31%
38%
40%
Other Income
395
193
185
196
292
277
204
175
184
283
225
474
436
Interest
239
195
174
180
362
367
22
161
185
171
187
174
180
Depreciation
801
542
566
610
658
671
628
635
753
889
951
1,064
1,096
PBT
270
818
226
82
-16
382
713
909
803
645
852
1,423
1,685
Tax %
28%
4%
19%
-273%
304%
12%
2%
5%
-8%
-5%
1%
5%
—
Net Profit
195
782
182
306
-63
336
696
865
870
679
844
1,353
1,618
EPS in Rs
4.19
16.78
3.92
6.58
-1.35
7.22
14.94
18.57
18.68
14.58
18.11
29.05
34.74
Div. Payout %
0%
0%
0%
0%
0%
10%
2%
2%
2%
3%
36%
26%
—
Figures in ₹ Crores

Balance Sheet

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
466
466
466
466
466
466
466
466
466
466
466
466
Reserves
6,053
6,272
6,428
6,769
6,717
7,018
7,702
8,631
6,437
7,074
7,846
8,630
Borrowings
7,739
5,845
5,492
5,585
5,277
4,767
3,679
3,200
2,605
2,914
2,228
2,679
Other Liabilities
1,580
2,148
2,162
1,686
1,896
1,668
1,556
1,956
1,936
1,646
1,161
1,543
Total Liabilities
15,839
14,731
14,549
14,506
14,357
13,919
13,403
14,253
11,443
12,100
11,701
13,318
Fixed Assets
12,280
11,827
11,411
11,348
11,119
10,653
10,174
7,625
7,403
7,004
6,711
7,199
CWIP
567
0
27
8
8
3
33
58
34
42
4
5
Investments
77
80
136
269
279
298
354
476
611
657
826
774
Other Assets
2,915
2,824
2,975
2,882
2,951
2,964
2,841
6,094
3,395
4,397
4,159
5,341
Total Assets
15,839
14,731
14,549
14,506
14,357
13,919
13,403
14,253
11,443
12,100
11,701
13,318
Figures in ₹ Crores

Cash Flow

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
2,197
1,490
683
228
712
945
1,340
1,644
1,465
994
850
1,343
Investing
-308
-11
-86
-471
7
324
-206
-1,079
-501
-573
-316
-850
Financing
-1,675
-1,095
-522
-87
-866
-1,120
-1,154
-653
-930
103
-1,236
-518
Net Cash Flow
214
384
74
-329
-146
149
-20
-88
34
524
-702
-25
Free Cash Flow
1,538
976
508
-241
594
959
1,144
1,151
990
546
558
-154
CFO/OP
248
116
96
47
109
92
118
111
97
69
48
56
Figures in ₹ Crores

Ratios

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
68
61
70
70
56
50
62
47
64
102
78
75
Cash Conversion Cycle
68
61
70
70
56
50
62
47
64
102
78
75
Working Capital Days
-161
-143
-290
-236
-264
-255
-115
74
-41
-42
77
140
ROCE %
—
7%
3%
2%
2%
5%
6%
9%
9%
8%
10%
14%

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

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Shareholding Pattern

DIIs2.08%Promot.63.75%Others4.09%FIIs8.97%Public21.11%As ofJun 2026

Documents

Frequently Asked Questions about Shipping Corporation of India

What does Shipping Corporation of India Ltd do?
Shipping Corporation of India is engaged involved in business of transporting goods and passengers.
Where is Shipping Corporation of India Ltd (SCI) listed?
Shipping Corporation of India Ltd trades as SCI on the NSE and under code 523598 on the BSE.
Which sector does Shipping Corporation of India Ltd belong to?
Shipping Corporation of India Ltd is classified under the Services sector, in the Transport Services industry.
What is the market capitalisation of Shipping Corporation of India Ltd?
Shipping Corporation of India Ltd has a market capitalisation of ₹13,028 Cr, which places it in the Mid Cap band.
What is the PE ratio of Shipping Corporation of India Ltd?
Shipping Corporation of India Ltd trades at a PE ratio of 8.08, on earnings per share of ₹17.15, against a book value of ₹195.28 per share.
What is the 52-week high and low of Shipping Corporation of India Ltd?
Over the last 52 weeks Shipping Corporation of India Ltd has traded between ₹195.55 and ₹368.75.
Does Shipping Corporation of India Ltd pay dividends?
Shipping Corporation of India Ltd has a dividend yield of 2.63%.
What is the Return on Equity (ROE) of Shipping Corporation of India Ltd?
Shipping Corporation of India Ltd reported a return on equity of 14.87%. Its debt-to-equity ratio is 0.29.

Company Information

Shipping Corporation of India is engaged involved in business of transporting goods and passengers.

Website shipindia.com
CEO Captain Binesh Kumar Tyagi
Employees 1,393
Listed 1997-08-13
Face Value ₹ 10
Issued Size 46,57,99,010

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