SCI

S C I share price & financials

Price
₹312.15
Market cap
₹13.1k Cr
Sector
Services
Calls analysed
2
Latest concall · Q4 FY26 · call held 11 May 2026

S C I Q4 FY26

Operating Revenue ₹5,778 cr +3%EBITDA ₹2,633 cr Consolidated Net Profit ₹1,353 cr +60%Consolidated PBT ₹1,423 cr +67%

What went well

  • Consolidated net profit of INR1,353 crores for FY26, a 60.3% increase from INR844 crores in FY25.
  • Operating revenue grew to INR5,778 crores in FY26 from INR5,592 crores in FY25, a 3.3% YoY growth.
  • EBITDA for FY26 was INR2,633 crores, demonstrating strong operational performance.

What to watch

  • Three crude carriers and one LNG vessel (JV) are still stuck in the Strait of Hormuz, impacting Q4 revenue recognition and full potential realization.
  • Liner segment revenue declined to INR784 crores in FY26 from INR1,036 crores in FY25, with profit falling to INR75 crores from INR166 crores, primarily due to moderation in freight rates and lower cargo volume.
Read the full call →

What S C I does

The Shipping Corporation of India (SCI) is a Navratna central public sector enterprise, majority-owned by the Government of India, and serves as India's primary flag-carrier shipping company. It owns and operates a diversified fleet across four reportable segments: tankers (crude, product, VLCC and gas carriers), dry-bulk carriers, liner (container/breakbulk) vessels, and offshore support vessels serving oil exploration activity. SCI also manages vessels on behalf of government entities such as the Andaman & Nicobar Administration, ONGC and the Geological Survey of India, and holds stakes in LNG-carrier joint ventures (India LNG Transport Co.) and subsidiaries including Inland & Coastal Shipping Ltd and SCI Bharat IFSC Ltd.

Segments

  • Liner
  • Bulk Carrier
  • Tanker
  • Technical & Offshore Services (T&OS)
Owned fleet size
58 vessels
Managed fleet (for government entities)
40 vessels
Fleet deadweight tonnage
52.61 lakh DWT
Fleet composition
31 tankers (5 VLCC, 12 crude carriers, 11 product carriers, 3 gas carriers), 15 bulk carriers, 10 offshore supply vessels, 2 liner vessels
Average age of owned fleet
15.5 years
Operating segments
Liner, Bulk Carrier, Tanker, Technical & Offshore Services
Founded 1950Headquarters Mumbai, Maharashtra, India Company website

Guidance record · Q4 FY26

what the last two calls moved 13 tracked 0 delivered 5 missed 8 open
  • JV Incorporation missed said Q2 FY26 Promised: December 2025 Q4 FY26: The December 2025 deadline was not met. Management confirmed the delay, citing 'established procedures' that are taking time. The JV is still under Ministry consideration as of May 2026.
  • JV Revenue delayed said Q2 FY26 Promised: 2x to 3x the revenue, what SCI is currently doing Q4 FY26: The JV with OMCs is delayed and still under Ministry consideration. Management was evasive on the financial model, making this revenue target's timeline uncertain.
  • SCI Own Fleet Capacity on track said Q2 FY26 Promised: 10 to 12 vessels in FY26-27 Q4 FY26: Two VLGCs were inducted in FY26. Management states other acquisition tenders are in the market but not yet finalized. With one year left in the target period (FY27), the plan is still active.

All 13 tracked — every revision, and every one management stopped mentioning.

Open the guidance ledger

Quarterly results

Q1 FY27: revenue up 40.2%, net profit up 93.6% against the same quarter last year.

₹ Cr · quarterly
Line itemQ2 FY25Q3 FY25Q4 FY25Q1 FY26Q2 FY26Q3 FY26Q4 FY26Q1 FY27
Revenue1,451 1,303 1,325 1,316 1,338 −8%1,611 +24%1,513 +14%1,845 +40%
EBITDA534 358 365 490 409 −23%680 +90%614 +68%885 +81%
Net profit290 65 172 343 176 −39%393 +505%414 +141%664 +94%
How to read this

₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.

Performance +34.9% 1Y

₹200₹250₹300₹350Sept 25Oct 25Dec 25Jan 26Mar 26Apr 26Jun 26Jul 26Sept 26Q2 FY26 — 10 Nov 2025Q4 FY26 — 11 May 2026

1Y: ₹208 on 10 Sept 2025 → ₹280.6. High ₹344.7 (18 May 2026), low ₹201.74 (23 Jan 2026).

How the price took the results

close before → close after

Q4 FY26
+0.6%
11 May
Q2 FY26
−5.0%
10 Nov

The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.

Financials, as filed

Revenue fell 0.1% a year over 3 years, FY23 to FY26. Operating margin widened to 38.0%.

Year endingFY23FY24FY25FY26
Revenue₹5.8k Cr₹5.0k Cr₹5.6k Cr₹5.8k Cr
Operating profit₹1.6k Cr₹1.4k Cr₹1.8k Cr₹2.2k Cr
Operating margin26.9%28.2%31.6%38.0%
Interest₹185 Cr₹171 Cr₹186 Cr₹172 Cr
Depreciation₹753 Cr₹889 Cr₹952 Cr₹1.1k Cr
Net profit₹870 Cr₹612 Cr₹814 Cr₹1.3k Cr
Net margin15.0%12.1%14.6%22.9%
Cash from operations₹1.5k Cr₹995 Cr₹850 Cr₹1.3k Cr
Free cash flow₹990 Cr₹548 Cr₹558 Cr₹-156 Cr
ROCE10.0%7.0%10.0%14.0%
How to read this

From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.

Balance sheet

Year endingFY21FY22FY23FY24FY25FY26
Equity capital₹466 Cr₹466 Cr₹466 Cr₹466 Cr₹466 Cr₹466 Cr
Reserves₹7.4k Cr₹5.1k Cr₹5.9k Cr₹6.5k Cr₹8.1k Cr₹8.0k Cr
Borrowings₹3.7k Cr₹3.2k Cr₹2.6k Cr₹2.9k Cr₹2.8k Cr₹2.7k Cr
Other liabilities₹1.6k Cr₹1.7k Cr₹1.9k Cr₹1.6k Cr₹1.6k Cr₹1.5k Cr
Total liabilities₹13.1k Cr₹10.5k Cr₹10.9k Cr₹11.5k Cr₹12.9k Cr₹12.7k Cr
Fixed assets₹10.2k Cr₹7.6k Cr₹7.4k Cr₹7.0k Cr₹7.4k Cr₹7.2k Cr
Capital work in progress₹33 Cr₹58 Cr₹34 Cr₹42 Cr₹23 Cr₹5 Cr
Investments₹77 Cr₹78 Cr₹79 Cr₹79 Cr₹800 Cr₹196 Cr
Other assets₹2.9k Cr₹2.7k Cr₹3.4k Cr₹4.4k Cr₹4.6k Cr₹5.3k Cr
Total assets₹13.1k Cr₹10.5k Cr₹10.9k Cr₹11.5k Cr₹12.9k Cr₹12.7k Cr
How to read this

As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.

Who owns it

As disclosed at Jun 2026

Since Jun 2025, FIIs added +2.84 pp while the public trimmed −2.35 pp. The shareholder count shrank 17% to 3,85,658.

Promoters
63.8%
FIIs
9.0%
DIIs
2.1%
Public
25.2%

Since Jun 2025

  • FIIs +2.84 pp
  • Public −2.35 pp
  • DIIs −0.48 pp

How it drifted, 12 quarters

Over this window FIIs went from 3.2% to 9.0% — +5.8 pp.

Sep '23Dec '24Jun '26

Ownership split by quarter, oldest first. Sep '23: Promoters 63.8%, FIIs 3.2%, DIIs 7.0%, Public 26.1%.Dec '23: Promoters 63.8%, FIIs 3.3%, DIIs 8.0%, Public 25.0%.Mar '24: Promoters 63.8%, FIIs 4.7%, DIIs 7.9%, Public 23.7%.Jun '24: Promoters 63.8%, FIIs 4.6%, DIIs 8.7%, Public 23.0%.Sep '24: Promoters 63.8%, FIIs 5.6%, DIIs 3.6%, Public 27.0%.Dec '24: Promoters 63.8%, FIIs 4.8%, DIIs 3.6%, Public 27.8%.Mar '25: Promoters 63.8%, FIIs 4.7%, DIIs 3.2%, Public 28.4%.Jun '25: Promoters 63.8%, FIIs 6.1%, DIIs 2.6%, Public 27.6%.Sep '25: Promoters 63.8%, FIIs 6.5%, DIIs 2.6%, Public 27.2%.Dec '25: Promoters 63.8%, FIIs 7.1%, DIIs 2.4%, Public 26.7%.Mar '26: Promoters 63.8%, FIIs 9.0%, DIIs 2.5%, Public 24.8%.Jun '26: Promoters 63.8%, FIIs 9.0%, DIIs 2.1%, Public 25.2%.

Who was buying across the market this quarter →

Who is on the register

Named in the Jun 2026 filing

Every holder of S C I above SEBI's 1% disclosure line, and what changed since Mar 2026.

HolderStakeChange
President Of India 63.75%unchanged
Life Insurance Corporation Of India Insurer—off the list

A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.

Mutual funds in SCI

Filings to Aug 2026

0 new, 4 added, 1 trimmed, 0 sold out — net +0.05 L shares (+1.1%).

Held by funds
₹13 Cr
5 schemes
Biggest holder
Nippon India Nifty Smallcap 250 Index Fund
₹8 Cr · 0.2% of that fund
SchemeHoldingLast month
Nippon India Nifty Smallcap 250 Index Fund Nippon India Mutual Fund₹8 Cr+0.03 L
SBI Nifty Smallcap 250 Index Fund SBI Mutual Fund₹4 Cr+0.02 L
Nippon India Nifty 500 Equal Weight Index Fund Nippon India Mutual Fund₹1 Cr+0.00 L
SBI Nifty 500 Index Fund SBI Mutual Fund₹0 Cr−0.00 L
SBI Nifty Small Cap 250 ETF SBI Mutual Fund₹0 Cr+0.00 L

HDFC, Nippon India and SBI schemes, from their monthly disclosures. Changes are counted in shares, so a price move never looks like buying or selling.

Mutual funds Aug 2026

4 added, 1 trimmed — net +4,842 shares (+1.1%)

Funds are sitting on
+26%
vs est. average cost
Held by funds
₹13 Cr
5 schemes · ≈ 0.11% of the company
Biggest holder
Nippon India Nifty Smallcap 250 Index Fund
₹8 Cr · 0.2% of that fund

Shares held by these funds +51%

Sep '24 4.46 L shares Jul '26

What the price assumes

Growth the price implies
A decline
for 7 years, fading to 4%
It has actually compounded at
Not enough history
The gap
—
between what it did and what it must do
Price today ₹280.6

Change the assumptions yourself →

All earnings calls (2)

Read the Q4 FY26 call →

Learn to analyse S C I

Guides on how to read this kind of business and the numbers that matter.