Shipping Corporation of India Ltd

₹ 125 0.00%
02 Feb 1:34 p.m.
About

Shipping Corporation of India is engaged involved in business of transporting goods and passengers.

Key Points

India’s largest shipping company[1] The Shipping Corporation of India was established on October 2nd, 1961, by amalgamation of Eastern Shipping Corporation and Western Shipping Corporation. Starting out as a marginal Liner shipping Company with just 19 vessels, the SCI has today evolved into the largest Indian shipping

  • Market Cap 5,843 Cr.
  • Current Price 125
  • High / Low 151 / 85.6
  • Stock P/E 9.31
  • Book Value 191
  • Dividend Yield 0.26 %
  • ROCE 8.47 %
  • ROE 9.53 %
  • Face Value 10.0

Pros

  • Company has reduced debt.
  • Stock is trading at 0.70 times its book value
  • Company is expected to give good quarter
  • Company has delivered good profit growth of 42.0% CAGR over last 5 years

Cons

  • The company has delivered a poor sales growth of 7.70% over past five years.
  • Tax rate seems low
  • Company has a low return on equity of 7.07% over last 3 years.
  • Contingent liabilities of Rs.3,137 Cr.
  • Company might be capitalizing the interest cost
  • Working capital days have increased from 14.1 days to 150 days

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: Shipping Industry: Shipping

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022
974 1,218 1,314 1,143 843 841 875 1,028 1,221 1,431 1,314 1,465 1,420
796 724 1,010 638 639 616 652 692 822 966 987 1,168 1,098
Operating Profit 179 495 304 505 204 226 223 336 399 465 327 297 322
OPM % 18% 41% 23% 44% 24% 27% 26% 33% 33% 33% 25% 20% 23%
81 57 78 35 34 32 25 21 8 25 50 35 38
Interest 133 79 110 50 -55 -7 33 52 13 17 76 50 47
Depreciation 168 170 164 159 159 156 154 155 161 159 160 172 190
Profit before tax -41 303 108 332 133 107 62 150 233 315 141 111 123
Tax % -39% 6% -6% 4% 2% 4% -6% 3% 2% 8% 7% 11% 10%
Net Profit -57 284 114 317 131 103 66 146 228 290 131 99 111
EPS in Rs -1.21 6.11 2.44 6.82 2.82 2.22 1.42 3.13 4.90 6.23 2.81 2.12 2.38
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 TTM
3,595 3,868 4,196 4,232 4,186 4,050 3,447 3,469 3,873 4,425 3,703 4,995 5,631
2,831 3,860 3,942 3,643 3,361 2,688 2,667 2,793 3,160 3,283 2,539 3,463 4,219
Operating Profit 764 8 253 589 826 1,362 780 677 713 1,143 1,164 1,532 1,412
OPM % 21% 0% 6% 14% 20% 34% 23% 20% 18% 26% 31% 31% 25%
425 648 601 254 401 165 145 143 232 243 121 103 148
Interest 67 387 162 208 180 195 174 180 362 367 22 161 190
Depreciation 465 609 761 856 770 542 566 610 658 671 628 635 682
Profit before tax 657 -340 -68 -221 276 789 186 29 -75 348 635 838 689
Tax % 14% -26% -67% -24% 27% 5% 23% -761% -63% 13% 3% 5%
Net Profit 567 -428 -114 -275 201 753 142 254 -122 302 618 795 630
EPS in Rs 12.18 -9.19 -2.45 -5.90 4.31 16.17 3.05 5.45 -2.62 6.49 13.27 17.06 13.54
Dividend Payout % 45% 0% 0% 0% 0% 0% 0% 0% 0% 12% 2% 2%
Compounded Sales Growth
10 Years: 3%
5 Years: 8%
3 Years: 9%
TTM: 42%
Compounded Profit Growth
10 Years: 12%
5 Years: 42%
3 Years: 89%
TTM: 16%
Stock Price CAGR
10 Years: 9%
5 Years: 11%
3 Years: 31%
1 Year: -4%
Return on Equity
10 Years: 3%
5 Years: 5%
3 Years: 7%
Last Year: 10%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Sep 2022
466 466 466 466 466 466 466 466 466 466 466 466 466
Reserves 6,702 6,269 6,150 5,874 6,068 6,258 6,367 6,632 6,515 6,832 7,436 8,234 8,439
4,715 6,323 8,164 8,257 6,833 5,845 5,492 5,585 5,277 4,767 3,679 3,200 2,912
1,137 981 1,309 1,935 1,562 2,148 2,162 1,686 1,896 1,668 1,556 1,955 2,109
Total Liabilities 13,020 14,038 16,089 16,532 14,929 14,717 14,487 14,369 14,155 13,733 13,137 13,855 13,926
7,369 8,913 11,540 11,935 11,444 11,827 11,411 11,348 11,119 10,653 10,174 7,625 7,532
CWIP 329 362 189 63 491 0 27 8 8 3 33 58 53
Investments 293 275 118 113 90 66 75 131 77 77 77 78 78
5,029 4,489 4,242 4,420 2,903 2,824 2,975 2,882 2,951 3,000 2,853 6,094 6,262
Total Assets 13,020 14,038 16,089 16,532 14,929 14,717 14,487 14,369 14,155 13,733 13,137 13,855 13,926

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
684 -449 809 838 2,100 1,490 683 228 668 945 1,341 1,645
-3,012 -1,664 -2,669 -966 -253 -11 -86 -471 -72 324 -207 -1,079
2,118 1,089 1,683 -118 -1,609 -1,095 -522 -87 -743 -1,120 -1,154 -653
Net Cash Flow -210 -1,024 -178 -246 237 384 74 -329 -146 149 -21 -87

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
Debtor Days 39 74 77 91 69 61 70 70 56 50 62 47
Inventory Days
Days Payable
Cash Conversion Cycle 39 74 77 91 69 61 70 70 56 50 62 47
Working Capital Days -84 -33 -68 -95 -133 -143 -187 -102 -114 -91 -17 150
ROCE % 5% -2% -3% -0% 2% 7% 3% 1% 1% 5% 6% 8%

Shareholding Pattern

Numbers in percentages

Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022
63.75 63.75 63.75 63.75 63.75 63.75 63.75 63.75 63.75 63.75 63.75 63.75
1.72 1.63 1.26 0.96 0.85 0.89 0.96 2.21 2.35 3.13 3.28 3.30
15.59 16.29 15.12 13.73 11.44 10.57 10.37 9.50 8.35 7.87 7.81 7.47
18.94 18.33 19.87 21.56 23.96 24.79 24.92 24.54 25.55 25.25 25.17 25.50

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

Click on the line-items to see the names of individual entities.

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