Shipping Corporation of India Ltd(SCI)

NSE: SCIBSE: 523598

₹ 237.95-5.63%refreshed 23 Oct, 03:57 pm ISTMarket cap: ₹ 11,084 crWebsite: www.shipindia.comUpdated: 24 Oct 2026

About

Shipping Corporation of India (SCI) is India's largest and most diversified shipping company, with over six decades of experience operating crude and product tankers, LPG carriers, bulk carriers, container vessels, offshore support vessels, and LNG carriers through joint ventures. In FY26 the company reported revenue of INR 5,779.79 crore. SCI is the only Indian shipping company operating both coastal and international container liner services.^[1][2]

Fleet composition and age

SCI owned 58 vessels as of Q4 FY26 with an average fleet age of 15.50 years.^[3]
Dry bulk fleet comprises 8 Supramax vessels (~57,000 DWT each) and 7 Panamax/Kamsarmax carriers (~80,000 - 82,000 DWT each), with an average age of about 14 years.^[1]
SCI operates LR2 and LR1 product tankers in East of Suez cross trades, and three MR product tankers on the Indian coast for clean petroleum product movement.^[1]
Two VLGCs - Sahyadri and Shivalik - each with ~82,000 m³ LPG capacity and built by Hyundai Heavy Industries, were inducted in Q2 FY26 and deployed on the Persian Gulf - India route.^[4]
Four LNG carriers are operated through joint ventures: three on long-term charter to Petronet LNG and one to Exxon Mobil LNG Services.^[5]

Key operating metrics

Average spot rate TCE for VLCC on the TD3C route (AG/China) was US$80,000 per day in 2025; Aframax TD8 route (Kuwait - Singapore) was US$33,000 per day.^[1]
Baltic Dry Index for January - March 2026 was 74% higher than the same period in 2025, reflecting improved dry bulk market conditions.^[1][3]
Coastal liner service achieved 99% utilisation and 99.2% ship availability in FY26, with freight rates up 10% year-on-year.^[3]
EXIM liner service achieved 95% utilisation in Q4 FY26.^[3]
Tanker segment profit rose 75% to INR 1,190 cr in FY26 from INR 680 cr in FY25, driven by elevated freight rates through most of FY26.^[3][1]

Liner and coastal services

Coastal operations centre on the SMILE service connecting India's West Coast with key Southern ports, extended to the East Coast via the Chennai - Colombo - Gulf (CCG) service.^[1]
SCI in-chartered the 9,000 TEU 'SCI Delhi' in August 2024 for 3 years and inducted it into the India - Europe service at Nhava Sheva on 18 October 2024.^[1][5]
India - Maldives Shipping Service deploys MV MSM Douro, a 265 TEU vessel in-chartered by SCI, operating between Tuticorin and Male; SCI received INR 3,471 lakhs subsidy for this service in FY25.^[1][5]

Offshore and technical services

Seven of 10 owned offshore support vessels are on long-term charters with ONGC, Indian Navy, and DRDO; two additional ONGC vessels managed on their behalf.^[4][1]
Offshore vessel contracts were recently renewed at approximately 50% higher charter rates than previously prevailing, on 3-year terms.^[4]

Expansion and fleet orders

Active tenders in market as of Q4 FY26 for 4 new MR tankers, 6 new 1,700 TEU container vessels, and 4 new Aframax tankers (14 vessels across 3 types).^[3]
SCI signed an MOU on 3 February 2026 with CONCOR, JNPA, VOCPA, Chennai Port Authority, and SMFCL to form Bharat Container Shipping Line, targeting 51 container vessels by 2047; SCI and CONCOR each expected to hold ~30%.^[3]
OMC-PSU JV (SCI 50%, BPCL/HPCL/IOC/ONGC 40%, SMFCL 10%) for 59 vessels for petroleum/hydrocarbon transportation remains under active Ministry consideration with no revised incorporation timeline.^[3][4]
SCI placed a shipbuilding contract with Mazagon Dock Limited for one 3,000 DWT methanol dual-fuel diesel-electric PSV - its first green-fuel vessel - under the National Green Hydrogen Mission.^[3]
Subsidiary ICSL launched scheduled inland waterway services on NW1 (Haldia/Kolkata - Varanasi) and NW2 (Kolkata - Dhubri/Pandu) in December 2024 under the JalVahak Scheme.^[5]

Recent developments

As of Q4 FY26 end, four SCI vessels (three crude carriers and one LNG JV vessel) remained stranded inside the Strait of Hormuz due to the Middle East conflict; related voyage revenue deferred to Q1 FY27.^[3][1]
SCI Bharat IFSC Limited commenced operations at GIFT City in September 2024 after receiving IFSCA registration, initially by in-chartering an oil tanker for crude transport from the Persian Gulf to India.^[5]
Strategic disinvestment by the Government of India (handled by DIPAM) is in progress; the Virtual Data Room is open for due diligence by Qualified Interested Parties.^[5][1]
Credit rating reaffirmed at ACUITE AA+ (long-term) and ACUITE A1+ (short-term) on INR 7,500 crore bank facilities with stable outlook.^[5]
SCI was non-compliant with SEBI Listing Regulation requirements on Board composition (independent directors, woman director) during 22 November 2024 to 31 March 2025 due to absence of independent directors.^[5]

Market Cap

₹11,084 Cr

High / Low

₹369 / 195

Stock P/E

6.8

Price / Book

1.2

Book Value

₹195

EPS

₹29.1

No. of Shares

46.58 Cr

ROCE

14.5%

ROE

15.5%

OPM

25.2%

Debt / Equity

0.27

Sales

₹5,780 Cr

Net Profit

₹1,353 Cr

Promoter holding

63.7%

Loading chart…

Signal history

AI Deep Dive

The analysis Screener can't give you

Our models read the latest earnings call, annual report, and financials end-to-end - then grade management, value the business, and flag the risks. Unlock all of it for this company:

Verdict
The headline call - descriptive label, conviction, and the synthesis behind it.
Valuation
Guidance-anchored P&L bridge - worst / average / best multiple cases.
Walk the talk
Did management deliver on past guidance? A commitment-by-commitment scorecard.
Red flags
Forensic and governance risk pointers, severity-ranked.
Balance sheet
Solvency and earnings-quality score.
Concall briefs
Quarter-by-quarter earnings-call briefs - what changed and why.

₹49 unlocks this company for 90 days, ₹299 for a full year - bundles bring it lower. Built on public disclosures - educational, not investment advice.

AI Deep Dive

Verdict

Locked

The headline call - descriptive label, conviction, and the synthesis behind it.

Company data

Financials

Shipping Corporation of India Ltd(SCI)

About

Fleet composition and age

Key operating metrics

Liner and coastal services

Offshore and technical services

Expansion and fleet orders

Recent developments

Signal history

The analysis Screener can't give you

AI Deep Dive

Verdict

Company data

Product Segments

Corporate Actions