Shipping Corporation of India Limited (SCI) AI Stock Analysis

• Market Cap: ₹122.78B
• Dividend Yield: 4.43%
• Average Volume (3M): 256.24K
• Price to Earnings (P/E): 10.8
• Beta (1Y): 1.97
• Revenue Growth: -7.39%
• EPS Growth: -21.53%
• Country: IN
• Employees: 1,338
• Sector: Services
• Sector Strength: N/A
• Industry: Marine Shipping
• EPS (TTM): 8.69
• Shares Outstanding: 465,799,000
• 10 Day Avg. Volume: 204,356
• 30 Day Avg. Volume: 256,243
• PEG Ratio: 0.39
• Price to Book (P/B): 0.95
• Price to Sales (P/S): 1.41
• P/FCF Ratio: 14.22
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 70 Outperform
• Price Target: ₹290.00 ▲(27.73% Upside)
• Action: Reiterated Date: 11/22/25
• Date: Action: Reiterated 11/22/25

Shipping Corporation of India Limited demonstrates strong financial performance with robust revenue growth and stable margins, contributing significantly to the overall score. The technical analysis indicates mixed momentum, with potential for upward movement given the oversold conditions. The stock's reasonable valuation and attractive dividend yield further support its investment appeal.

Positive Factors

Margin Improvement

Sustained rises in net profit and EBIT margins reflect durable pricing power and disciplined cost control across SCI's fleet. Higher margins strengthen earnings resilience through shipping cycles, support reinvestment in vessels and technology, and enhance long-term capacity to sustain dividends and service obligations.

Balance Sheet Strength

An improved debt-to-equity ratio and strong equity base provide lasting financial flexibility for SCI to finance fleet maintenance or selective growth without excessive leverage. This reduces refinancing risk in cyclic shipping markets and preserves strategic optionality for long-term asset investments.

Free Cash Flow Generation

Consistent free cash flow growth and solid cash conversion mean SCI can fund capex, pay dividends or reduce debt from operations. Reliable cash generation supports durable capital allocation choices, underpins shareholder returns, and cushions the business during rate or demand downturns.

Negative Factors

Revenue Trend

A negative reported revenue growth rate signals weakening top-line activity that may reflect softer utilization or cargo demand. Sustained revenue contraction would undermine economies of scale, challenge margin maintenance over time, and limit the firm's ability to fund fleet renewal from internal cash flows.

Cash Flow Volatility

Irregular investing and financing flows point to uneven capex, asset disposals or shifting borrowing needs. This volatility reduces predictability of available funds, complicates multi-year fleet planning and raises refinancing and liquidity risk if market conditions tighten during prolonged shipping downturns.

Asset Base Contraction

A slight decline in total assets could signal fleet disposals or deferred acquisitions, limiting capacity to capture rising trade volumes. A contracting asset base constrains revenue expansion, weakens competitive positioning versus peers that invest, and can impair long-term returns if not reversed strategically.

Shipping Corporation of India Limited Business Overview & Revenue Model

Company Description

The Shipping Corporation of India Limited provides shipping services in India, Singapore, and internationally. It operates through Liner, Bulk, Tanker, Technical & Offshore, and Others segments. The company's fleet comprises bulk carriers, crude oil tankers, product tankers, container vessels, passenger-cum-cargo vessels, LPG carriers, and offshore supply vessels. Its bulk carriers transport cargos, including iron ore, coal, coke, grain, fertilizer, steel, plywood, bauxite products, etc.; tankers are used for feeding crude oil to various oil refineries; and passenger-cum-cargo vessels offer transportation services between the Mainland, and Andaman and Nicobar group of islands. The company is also involved in chartering various ships, as well as in lighterage operations. In addition, it provides offshore services comprising towing and anchor handling, carriage of men and materials, standby and rescue, routine surveillance, and firefighting services, as well as operations, manning, maintenance, and management services for vessels. Further, the company offers shipbuilding consultancy assistance services for new building vessels, including project viability and feasibility, design consultancy, project management, and site supervision; and for the acquisition of second-hand ships, such as identifying the type and size of vessels, receipt and evaluation of offers, inspection of class records, physical inspection of vessels, processing specific proposals for owners/government approval, taking delivery of the vessels, etc., as well as provides liner break-bulk and container services. It operates a fleet of 59 vessels with deadweight tonnage of 5.311 million. The Shipping Corporation of India Limited was incorporated in 1950 and is based in Mumbai, India.

How the Company Makes Money

SCI generates revenue through multiple streams, primarily by providing shipping and transportation services for cargo across global and domestic routes. Key revenue streams include freight charges from transporting goods, chartering of vessels, and offshore services for oil and gas exploration. Additionally, SCI earns income from the operation of its ports and terminals, as well as through ancillary services like ship management and repair. Strategic partnerships with international shipping lines and participation in government initiatives to promote coastal shipping further enhance its revenue potential. The company also benefits from favorable regulations and policies supporting the maritime industry in India.

Shipping Corporation of India Limited Financial Statement Overview

Summary

Shipping Corporation of India Limited shows strong financial health with growing profitability and effective capital management. The company benefits from robust revenue growth and stable margins, indicating a competitive position in the marine shipping industry. Some fluctuations in cash flow and balance sheet metrics are noted, but overall financial stability is maintained.

Income Statement

The company demonstrates strong profitability with a consistent increase in net profit margin and EBIT margin over the years. Revenue growth is evident, particularly from 2024 to 2025, reflecting robust demand and pricing power. The gross profit margin has also improved, indicating efficient cost management. However, fluctuations in EBITDA margin suggest potential volatility in operating expenses.

Balance Sheet

The company maintains a healthy equity ratio, showcasing strong capital structure and financial stability. The debt-to-equity ratio has improved over the years, suggesting effective debt management. Return on equity is solid, reflecting good use of shareholders' funds. However, total assets have slightly decreased, which may impact future growth opportunities.

Cash Flow

The cash flow statement indicates positive free cash flow growth, enhancing the company's ability to reinvest and return capital to shareholders. Operating cash flow to net income ratio is healthy, demonstrating efficient cash conversion. However, fluctuations in investing and financing cash flows indicate potential volatility in capital expenditures and debt management strategies.

Breakdown	TTM	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021
Income Statement
Total Revenue	54.08B	56.06B	50.32B	57.94B	49.31B	36.91B
Gross Profit	9.10B	9.81B	6.54B	11.36B	9.09B	5.90B
EBITDA	12.46B	17.64B	16.23B	16.76B	16.05B	13.70B
Net Income	9.06B	8.44B	6.79B	8.70B	8.61B	6.96B
Balance Sheet
Total Assets	0.00	117.01B	121.00B	114.43B	108.59B	134.03B
Cash, Cash Equivalents and Short-Term Investments	7.57B	7.57B	11.89B	7.05B	5.94B	2.25B
Total Debt	0.00	22.28B	29.14B	26.05B	32.00B	36.79B
Total Liabilities	-83.12B	33.89B	45.60B	45.41B	48.85B	52.35B
Stockholders Equity	83.12B	83.12B	75.39B	69.02B	59.74B	81.68B
Cash Flow
Free Cash Flow	0.00	5.58B	4.82B	9.90B	9.48B	11.43B
Operating Cash Flow	0.00	8.50B	9.94B	14.65B	14.40B	13.40B
Investing Cash Flow	0.00	-3.16B	-5.59B	-5.19B	-7.30B	-2.06B
Financing Cash Flow	0.00	-12.36B	1.03B	-9.30B	-6.53B	-11.54B

Shipping Corporation of India Limited Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 227.05
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:SCI, the sentiment is Positive. The current price of 227.05 is below the 20-day moving average (MA) of 252.65, below the 50-day MA of 229.97, and above the 200-day MA of 218.63, indicating a bullish trend. The MACD of 11.17 indicates Positive momentum. The RSI at 61.00 is Neutral, neither overbought nor oversold. The STOCH value of 48.40 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:SCI.

Shipping Corporation of India Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
GPPL	75 Outperform	₹85.42B	17.60	―	4.98%	7.10%	29.89%
VRLLOG	73 Outperform	₹48.65B	20.36	―	2.79%	4.74%	176.63%
TCI	70 Outperform	₹77.09B	17.18	―	0.94%	9.97%	16.28%
SCI	70 Outperform	₹122.78B	10.83	―	4.43%	-7.39%	-21.53%
TCIEXP	63 Neutral	₹21.07B	24.84	―	1.37%	-2.79%	-26.28%
Sector *	55 Neutral	$13.29B	17.42	10.03%	0.93%	7.13%	-12.93%
SPICEJET	38 Underperform	₹24.54B	-3.09	―	―	-26.46%	46.14%

Shipping Corporation of India Limited Corporate Events

Shipping Corporation of India Fined by BSE and NSE Over Board Composition Non-Compliance

Shipping Corporation of India Limited has disclosed that both BSE and the National Stock Exchange have imposed fines of Rs 5,42,800 each, including GST, for non-compliance with SEBI Regulation 17(1) relating to the composition of its Board of Directors. The company stated the penalty will not have a significant financial or operational impact and emphasized that, as a Navratna PSU, it is dependent on the Competent Authority for appointing the required number of independent, including women, directors and is now engaging with the exchanges while seeking to regularize its board composition.

SCI explained that the non-compliance stems from the fact that only the Competent Authority has the power to nominate directors to its board, constraining its ability to independently meet SEBI’s board composition norms. The company has initiated the process of submitting request letters to both BSE and NSE regarding the issue, signaling an effort to resolve the regulatory shortfall and align its corporate governance structure with listing requirements.

Shipping Corporation of India Elevates Jothi Krishnan Kandasamy to General Manager in Senior Management

Shipping Corporation of India Limited has elevated long-serving executive Mr. Jothi Krishnan Kandasamy to the senior management cadre, effective 24 December 2025, through his promotion to General Manager. With more than 33 years of experience across budget control, MIS, IT network management, software development, drydock operations, international shipping, training and internal audit, and having joined the firm as a junior officer in 1995, Kandasamy now heads the Internal Audit Department in the Finance Division, a move that underscores the company’s focus on strengthening internal controls and leveraging deep in-house expertise in a strategically important oversight role.