Mumbai:The Shipping Corporation of India Limited (SCI), India's premier shipping company, announced impressive unaudited financial results for the third quarter ending December 31, 2025, with profits more than doubling year-on-year and declaration of second interim dividend.
Financial Performance Highlights (Consolidated)
Q3 FY2026 (October-December 2025)
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Net Profit: ₹42,693 lakhs (₹426.93 crore) – 140% Year-on-Year (YoY) increase from ₹17,823 lakhs in Q3 FY2025
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Revenue from Operations: ₹1,61,167 lakhs (₹1,611.67 crore)
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Profit Before Tax (PBT): ₹42,693 lakhs – 110% YoY growth
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Share of JV Profit: ₹1,176 lakhs contributing to profitability
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Earnings Per Share (EPS): ₹8.69 (Basic & Diluted)
Nine Months FY2026 (April-December 2025)
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Net Profit: ₹1,00,721 lakhs (₹1,007.21 crore) – 48% YoY increase from ₹68,045 lakhs
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Revenue: ₹4,26,658 lakhs (₹4,266.58 crore)
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PBT: ₹1,00,721 lakhs – 47% YoY growth
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EPS: ₹20.36
Also Read: Hindustan Copper Q3 FY2026 Profit Surges 148%, Declares 20% Interim Dividend
Dividend Declaration
The Board of Directors declared a Second Interim Dividend of ₹3.5 per equity share (35% of face value of ₹10 each) for FY2025-26, amounting to ₹163.03 crore payout.
Key Dividend Details
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Record Date: Tuesday, February 17, 2026
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Payment Timeline: Within 30 days from declaration
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TDS Compliance: Shareholders must update details with RTA by February 17, 2026
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Trading Window Closure: Extended until 48 hours after record date
Segment Performance Analysis
Revenue Contribution (Q3 FY2025)
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Tanker Segment: ₹1,09,691 lakhs (68% of total) – Major revenue driver
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Liner Segment: ₹23,751 lakhs (15%)
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Bulk Carrier: ₹7,936 lakhs (5%)
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Technical & Offshore: ₹20,589 lakhs (13%)
Segment Profitability
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Tanker Segment PBT: ₹40,203 lakhs (94% of total profit)
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Liner Segment PBT: ₹465 lakhs
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Bulk Carrier PBT: ₹754 lakhs
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Technical & Offshore PBT: ₹2,858 lakhs
Operational Metrics
Cost Structure (Q3 FY2026)
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Cost of Services: ₹72,880 lakhs (45% of revenue)
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Employee Benefits: ₹15,415 lakhs
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Finance Costs: ₹4,839 lakhs (low borrowing costs)
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Depreciation: ₹27,136 lakhs
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Other Expenses: ₹5,058 lakhs
Margin Performance
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PBT Margin: 26.5% for Q3 FY2026
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Net Profit Margin: 26.5%
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Operating Efficiency: Improved cost control evident
Strategic Disinvestment Update
Current Status
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Process: Strategic disinvestment by Government of India ongoing
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Timeline: Preliminary Information Memorandum released December 22, 2020
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Current Stage: Virtual Data Room open for due diligence by Qualified Interested Parties
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Management: Department of Investment and Public Asset Management (DIPAM) handling with Transaction Advisor
Demerger Completion
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Non-core Assets: 192 assets transferred to SCI Land and Assets Limited (SCILAL)
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Leaseback: 185 assets leased back to SCI as short-term lease
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Effective Date: April 1, 2021 (retrospective)
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Accounting: Treated as short-term lease pending final agreement
Subsidiaries & Joint Ventures
Subsidiaries
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Inland and Coastal Shipping Ltd. (ICSL): Minimal contribution to consolidated results
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SCI Bharat IFSC Limited: Loss-making entity
Joint Ventures (LNG Transportation)
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ILT 1, 2, 3 & 4: Profit contributors to consolidated results
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Total JV Profit Share: ₹1,176 lakhs in Q3 FY2026
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Cumulative JV Profit Share: ₹3,624 lakhs in 9M FY2026
Financial Position
Capital Structure
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Paid-up Equity Capital: ₹46,580 lakhs (₹465.80 crore, Face value ₹10 per share)
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Other Equity: ₹7,84,595 lakhs (₹7,845.95 crore) as of March 31, 2025
Segment Assets & Liabilities
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Total Assets: ₹12,86,322 lakhs (₹12,863.22 crore)
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Tanker Assets: ₹5,77,362 lakhs (45% of total)
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Total Liabilities: ₹4,05,985 lakhs (₹4,059.85 crore)
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Healthy Balance Sheet: Strong asset base with manageable liabilities
Audit Emphasis Matters
Reconciliation Processes
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Trade Receivables/Payables: Ongoing balance confirmations
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Agent/Vendor Balances: Reconciliation in progress
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Tax Assets: Reconciling with assessment orders and OGEs
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Management Assurance: No material impact expected
Accounting Treatment
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Short-term Lease: For demerged assets pending final agreement
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PRP Provision: Made in last quarter based on annual performance
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Foreign Exchange: Ongoing reconciliation of gains/losses
Market Context & Outlook
Shipping Industry Trends
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Tanker Market: Strong performance driving majority profits
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Bulk Carrier: Stable contribution
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Liner Segment: Moderate performance
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Technical & Offshore: Supporting role
Strategic Positioning
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Government Backing: Navratna CPSE with strong legacy
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Fleet Diversity: Multiple segments providing risk diversification
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LNG Focus: Joint ventures in growing LNG transportation sector
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Disinvestment Potential: Strategic interest from qualified parties
Forward Outlook
With the disinvestment process progressing and strong operational performance across segments, particularly in tankers, SCI remains well-positioned in the shipping industry. The company's diverse fleet and strategic joint ventures provide stability amid market volatility.
About The Shipping Corporation of India Limited:
SCI is India's leading shipping company, operating one of the largest fleets in the country. The company provides diversified shipping services including liner, bulk carrier, tanker, and offshore services, with a significant presence in the global shipping market.