Shipping Corporation of India Q4 FY26 Share Price & Earnings Call Analysis
- Market cap
- ₹11,377 Cr
- P/E
- 7.04
- ROE
- 15.04%
- PEG
- 0.47
- Price to sales
- 1.81
- Debt to equity
- 0.29
- 52W high / low
- ₹345 / ₹202
- Sales growth (5Y)
- 9.31%
- EBITDA margin
- 40.02%
- Net profit margin
- 22.65%
- Promoter holding
- 63.75%
- Sales (last year)
- ₹6,310 Cr
Shipping Corporation of India is engaged involved in business of transporting goods and passengers.
Guidance scorecard · Q4 FY26 call
What Shipping Corporation of India Ltd's management guided
and where it ranks in Transport Services
Transport Services
RevenueQ4 FY26 call
10–20%- SCI aspires to grow revenue by 2 to 3 times in the next 4 to 5 years, factoring in the impact of the JV with oil marketing companies.
- Fleet expansion plans include acquiring around 216 vessels by 2047 with an investment of INR 1 lakh crore, executed via a mix of JV routes and independent orders.
- Initially, fleet growth will include second-hand vessels for quick augmentation, followed by new-build vessels primarily constructed in India to support domestic shipbuilding.
2 more points from Shipping Corporation of India Ltd's call on revenue
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MarginsQ4 FY26 call
FlatSee what Shipping Corporation of India Ltd said on margins — free account, 30 seconds.
CapexQ4 FY26 call
Planned- The Shipping Corporation of India (SCI) plans a large fleet expansion aiming to purchase around 216 vessels with an investment of INR 1 lakh crores by 2047.
- Of these, 59 vessels are planned under the oil and gas demand aggregation JV.
- Approximately 51 vessels are planned under Bharat Container Shipping Line JV, with SCI expected to hold around 30% shareholding.
- Initial fleet augmentation will include purchasing second-hand vessels in the first 2-3 years, followed by new-build vessels, primarily built in India to support the domestic shipbuilding industry.
- Vessel acquisitions undergo a rigorous project evaluation ensuring an IRR in the range of 10% to 12%.
- Tenders have been floated for acquiring new tankers, container vessels, and MR tankers, some possibly for the proposed oil and gas JV.
2 more points from Shipping Corporation of India Ltd's call on capex
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FundraisingQ4 FY26 call
See what Shipping Corporation of India Ltd said on fundraising — free account, 30 seconds.
Order bookQ4 FY26 call
- SCI has planned a large fleet expansion targeting around 216 vessels with an investment of INR 1 lakh crores by 2047.
- Of these, 59 vessels are scheduled under the oil and gas sector as part of demand aggregation, linked to the proposed JV with oil companies.
- Approximately 51 vessels are planned under the Bharat Container Shipping Line JV with CONCOR, expected to unfold up to 2047.
- The remaining vessels will be primarily under SCI's independent expansion or potentially through new JVs.
- Initial fleet augmentation includes purchasing second-hand vessels to bridge the delivery timeline until new-build vessels, mostly ordered in India, join the fleet.
2 more points from Shipping Corporation of India Ltd's call on the order book
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Ranges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.
Potential multibaggers · Q2 FY27
Potential multibaggers in Transport Services
on management's own guidance
- Strong growth2
- Strong growth1
- Strong growth3
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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.
Peers
Transport Services companies ranked on guidance
| # | Company | Revenue guided | Margin guided | Market cap | P/E |
|---|---|---|---|---|---|
| 1 | 40%+ | Up 0–2% | ₹795 Cr | 24.9 | |
| 2 | 40%+ | Flat | ₹16,984 Cr | 98.6 | |
| 3 | 40%+ | Flat | ₹4,361 Cr | 29.7 | |
| 4 | 40%+ | Flat | ₹591 Cr | 16.6 | |
| 5 | 20–40% | Up 2%+ | ₹510 Cr | 6.7 | |
| 6 | 20–40% | Up 2%+ | ₹234 Cr | 8.1 |
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Pro shows every company guiding 40%+ revenue growth →Full Transport Services rankingFinancials of Shipping Corporation of India Ltd
Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Financials of Shipping Corporation of India Ltd
Quarterly Results
Quarter-by-quarter operating performance
| Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 1,418 | 1,200 | 1,093 | 1,341 | 1,413 | 1,514 | 1,451 | 1,316 | 1,325 | 1,316 | 1,339 | 1,612 | 1,513 |
| Expenses + | 954 | 837 | 858 | 924 | 1,005 | 1,005 | 918 | 958 | 961 | 827 | 932 | 934 | 910 |
| Operating Profit | 465 | 363 | 236 | 417 | 407 | 510 | 533 | 357 | 365 | 489 | 406 | 678 | 603 |
| OPM % | 33% | 30% | 22% | 31% | 29% | 34% | 37% | 27% | 28% | 37% | 30% | 42% | 40% |
| Other Income + | 55 | 51 | 94 | 25 | 113 | 49 | 43 | 45 | 88 | 157 | 111 | 69 | 147 |
| Interest | 50 | 35 | 56 | 40 | 40 | 40 | 43 | 64 | 39 | 31 | 47 | 48 | 47 |
| Depreciation | 196 | 197 | 200 | 251 | 241 | 220 | 234 | 255 | 243 | 250 | 256 | 271 | 287 |
| Profit before tax | 274 | 182 | 74 | 151 | 239 | 298 | 298 | 84 | 171 | 366 | 214 | 427 | 416 |
| Tax % | -39% | 5% | 11% | 11% | -29% | 2% | 2% | 10% | -8% | 3% | 12% | 5% | 3% |
| Net Profit + | 380 | 172 | 66 | 134 | 307 | 291 | 291 | 76 | 185 | 354 | 189 | 405 | 405 |
| EPS in Rs | 8.16 | 3.68 | 1.41 | 2.88 | 6.60 | 6.26 | 6.26 | 1.62 | 3.97 | 7.60 | 4.06 | 8.69 | 8.69 |
Financials of Shipping Corporation of India Ltd
Profit & Loss
Annual income statement trend
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 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 |
| Expenses + | 3,396 | 2,688 | 2,667 | 2,793 | 3,160 | 3,283 | 2,544 | 3,465 | 4,237 | 3,624 | 3,841 | 3,594 |
| Operating Profit | 916 | 1,362 | 780 | 677 | 713 | 1,143 | 1,159 | 1,530 | 1,557 | 1,423 | 1,765 | 2,185 |
| OPM % | 21% | 34% | 23% | 20% | 18% | 26% | 31% | 31% | 27% | 28% | 31% | 38% |
| Other Income + | 395 | 193 | 185 | 196 | 292 | 277 | 204 | 175 | 184 | 283 | 225 | 475 |
| Interest | 239 | 195 | 174 | 180 | 362 | 367 | 22 | 161 | 185 | 171 | 187 | 173 |
| Depreciation | 801 | 542 | 566 | 610 | 658 | 671 | 628 | 635 | 753 | 889 | 951 | 1,064 |
| Profit before tax | 270 | 818 | 226 | 82 | -16 | 382 | 713 | 909 | 803 | 645 | 852 | 1,423 |
| 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 |
| 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 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 10% | 2% | 2% | 2% | 3% | 36% | 15% |
Financials of Shipping Corporation of India Ltd
Balance Sheet
Capital structure and asset base
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 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 |
Financials of Shipping Corporation of India Ltd
Cash Flows
Operating, investing and financing cash movement
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity + | 2,197 | 1,490 | 683 | 228 | 712 | 945 | 1,340 | 1,644 | 1,465 | 994 | 850 | 1,343 |
| Cash from Investing Activity + | -308 | -11 | -86 | -471 | 7 | 324 | -206 | -1,079 | -501 | -573 | -316 | -858 |
| Cash from Financing Activity + | -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 | -32 |
| 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% |
Financials of Shipping Corporation of India Ltd
Ratios
Working capital efficiency and return ratios
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 68 | 61 | 70 | 70 | 56 | 50 | 62 | 47 | 64 | 102 | 78 | 75 |
| Inventory Days | ||||||||||||
| Days Payable | ||||||||||||
| 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 | 146 |
| ROCE % | 7% | 3% | 2% | 2% | 5% | 6% | 9% | 9% | 8% | 10% | 14% |
Guidance history
How Shipping Corporation of India Ltd's guidance has moved, call by call
| Call | Revenue | Margins | Capex | Fundraising | Order book |
|---|---|---|---|---|---|
| Q4 FY26 call → | 10–20% | Flat | Planned | — | — |
| Q2 FY26 call → | 20–40% | Flat | Planned | Planned | Rising |
What management guided on each call, newest first. Not investment advice, and not a forecast of returns.
Momentum score · price trend
18 out of 100 — Cooling
Over the past year its share price has done worse than most of the stocks we track.
| Period | Share price change | Better than … of 1,910 stocks |
|---|---|---|
| Last 12 months | −7.3% | 54% |
| Last 6 months | −19.7% | 22% |
| Last 3 months | −16.1% | 30% |
The price is 29.3% below its all-time high of ₹345.65 (12 Jul 2024). Stocks more than 20% below their peak have their score halved, so 36 became 18.
How we calculate it
“Better than 30%” means that over that period the share price did better than 30 out of every 100 stocks we track (1,910 Indian companies worth ₹500 Cr or more, with at least a year of prices).
The score weighs the longer periods more: 40% × 12-month + 40% × 6-month + 20% × 3-month. For Shipping Corporation of India Ltd: 0.4 × 54 + 0.4 × 22 + 0.2 × 30 = 36, halved to 18 because the price is more than 20% below its all-time high.
Strengthening is 70 and above, Steady 40 to 70, Cooling below 40. Scores are recalculated every night after the market closes.
Full methodology →This describes only how the share price has moved up to 30 Oct 2026, compared with other stocks. It says nothing about the business, and it is not a prediction, a price target or a recommendation to buy or sell.
Continue your research
What Shipping Corporation of India Ltd's management said in earlier quarters
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