Shipping Corporation of India Ltd
Shipping Corporation of India Q2 FY26 earnings call: Revenue & Margins
Q2 FY26 earnings call: what management guided on revenue, margins and order book.
The short version
SCI targets to double to triple (2x to 3x) its existing top-line revenue over the next five years (by FY 2028-29). SCI targets to double to triple (2x to 3x) its existing top line over the next five years (FY '25-'30) with an operating margin target of 50% (Page 15, 13).
From Shipping Corporation of India Ltd's Q2 FY26 earnings-call transcript · updated 23 Aug 2026.
Revenue & Sales Performance
- SCI targets to double to triple (2x to 3x) its existing top-line revenue over the next five years (by FY 2028-29). (Page 15)
- The JV formation with BPCL, HPCL, IOC, and others aims to support this growth by adding around 59 new vessels in the next five years, including VLGCs, VLCCs, and offshore vessels. (Pages 10, 11, 15)
- The revenue from managed ships currently is around INR 84 crores but does not contribute directly to SCI's topline. Growth will come from owned newer, more efficient vessels. (Page 10)
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Profitability & Margins
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Capital Expenditure Plans
- Acquisition Plan: SCI is holding cash for acquisition of vessels; ready to deploy funds whenever favorable deals arise.
- Joint Venture (JV) Investment: SCI will hold 50% shareholding in a new JV with BPCL, HPCL, and IOC. Equity and funding will be shared proportionally.
- Fundraising: SCI plans to raise funds over the next few years for expansion and acquisition, partly through debt (typically 70% borrowed, 30% own money).
- Vessel Acquisition Targets: Plans to float tenders for new construction vessels starting December 2025, aiming for 8-10 new ships operational by next year and ordering roughly 10-12 vessels for FY 2026-27.
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Top-ranked in Transport Services
Ranked on what management guided this quarter
Rank buckets describe management commentary on revenue and margin. Not investment advice, and not a forecast of returns.
Fundraising & Capital Structure
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Order Book & Pipeline
- The JV incorporation target timeline is December of the current year.
- Tender floating for new construction vessels is expected in December next month.
- New vessel orders will be placed definitely, with deliveries expected roughly over three years.
- Second-hand vessels will also be inducted into the JV and should be visible in operation by next year.
- For FY ’26-’27, SCI plans to tender for approximately 10 to 12 vessels.
- Concurrently, SCI alone is also purchasing some second-hand vessels.
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Shipping Corporation of India Ltd — Quarterly revenue & net profit
Reported quarterly figures (₹ Cr). Latest: revenue ₹1.5K Cr, net profit ₹405 Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.
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What Shipping Corporation of India Ltd's management said in earlier quarters
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Frequently Asked Questions
What were Shipping Corporation of India Ltd Q2 FY26 results?
SCI targets to double to triple (2x to 3x) its existing top-line revenue over the next five years (by FY 2028-29). SCI targets to double to triple (2x to 3x) its existing top line over the next five years (FY '25-'30) with an operating margin target of 50% (Page 15, 13).
What is Shipping Corporation of India Ltd share price analysis?
Shipping Corporation of India Ltd currently shows a neutral. The stock trades at a P/E of 10.3 with a market cap of ₹14,007 Cr. Investors should review the full earnings analysis for detailed insights.
Is Shipping Corporation of India Ltd planning capital expenditure?
Acquisition Plan: SCI is holding cash for acquisition of vessels; ready to deploy funds whenever favorable deals arise. - Joint Venture (JV) Investment: SCI will hold 50% shareholding in a new JV with BPCL, HPCL, and IOC.
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This analysis is AI-generated based on publicly available earnings data and the company's earnings call transcript. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.