Shipping Corporation of India Ltd

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Shipping Corporation of India Ltd

₹ 233 -2.06%
12 Dec - close price
shipindia.com BSE: 523598 NSE: SCI
About

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

Key Points

Largest Shipping Company
Company is the largest Indian shipping company in terms of capacity with a diversified fleet profile. It is involved in the business of transporting goods and passengers. Its owned fleet includes Bulk carriers, Crude oil tankers, Product tankers, Container vessels, Passenger-cum-Cargo vessels, LPG carriers and Offshore Supply Vessels. It also manages a large number of vessels on behalf of various government departments and organizations. The GoI has conferred “Navratna” status to SCIL in August 2008. [1]

Website BSE NSE
  • Market Cap ₹ 10,860 Cr.
  • Current Price ₹ 233
  • High / Low ₹ 385 / 155
  • Stock P/E 10.8
  • Book Value ₹ 161
  • Dividend Yield 0.21 %
  • ROCE 7.43 %
  • ROE 8.49 %
  • Face Value ₹ 10.0
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Pros

Cons

  • The company has delivered a poor sales growth of 5.43% over past five years.
  • Tax rate seems low
  • Company has a low return on equity of 11.1% over last 3 years.
  • Contingent liabilities of Rs.5,241 Cr.
  • Company might be capitalizing the interest cost
  • Dividend payout has been low at 2.77% of profits over last 3 years
  • Debtor days have increased from 70.9 to 102 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

Part of Nifty Smallcap 250 Nifty 500 Multicap 50:25:25 BSE CPSE Nifty MidSmallcap 400 Nifty Total Market

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024
1,221 1,431 1,309 1,462 1,420 1,496 1,418 1,200 1,093 1,341 1,412 1,514 1,451
822 966 982 1,163 1,098 1,027 953 837 857 923 1,005 1,004 917
Operating Profit 399 465 327 299 322 469 465 363 236 417 407 510 534
OPM % 33% 33% 25% 20% 23% 31% 33% 30% 22% 31% 29% 34% 37%
8 25 46 28 38 25 34 27 69 22 98 44 40
Interest 13 17 76 50 47 38 50 35 56 40 40 40 43
Depreciation 161 159 160 172 190 195 196 197 200 251 241 220 234
Profit before tax 233 315 137 105 123 262 254 157 49 149 224 294 297
Tax % 2% 8% 8% 11% 10% 6% -42% 6% 16% 11% -30% 2% 2%
228 290 127 94 111 246 360 147 41 132 292 287 290
EPS in Rs 4.90 6.23 2.72 2.01 2.38 5.28 7.72 3.16 0.87 2.83 6.27 6.16 6.23
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Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 TTM
4,196 4,232 4,186 4,050 3,447 3,469 3,873 4,425 3,703 4,988 5,794 5,046 5,718
3,942 3,643 3,361 2,688 2,667 2,793 3,160 3,283 2,539 3,455 4,234 3,622 3,849
Operating Profit 253 589 826 1,362 780 677 713 1,143 1,164 1,533 1,560 1,424 1,868
OPM % 6% 14% 20% 34% 23% 20% 18% 26% 31% 31% 27% 28% 33%
601 254 401 165 145 143 232 243 121 97 111 215 204
Interest 162 208 180 195 174 180 362 367 22 161 185 171 164
Depreciation 761 856 770 542 566 610 658 671 628 635 753 889 945
Profit before tax -68 -221 276 789 186 29 -75 348 635 834 733 578 963
Tax % 67% 24% 27% 5% 23% -761% 63% 13% 3% 5% -9% -6%
-114 -275 201 753 142 254 -122 302 618 790 800 612 1,001
EPS in Rs -2.45 -5.90 4.31 16.17 3.05 5.45 -2.62 6.49 13.27 16.96 17.18 13.14 21.49
Dividend Payout % 0% 0% 0% 0% 0% 0% 0% 12% 2% 2% 3% 4%
Compounded Sales Growth
10 Years: 2%
5 Years: 5%
3 Years: 11%
TTM: 10%
Compounded Profit Growth
10 Years: 14%
5 Years: 40%
3 Years: -3%
TTM: 26%
Stock Price CAGR
10 Years: 17%
5 Years: 37%
3 Years: 27%
1 Year: 49%
Return on Equity
10 Years: 6%
5 Years: 9%
3 Years: 11%
Last Year: 8%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Sep 2024
Equity Capital 466 466 466 466 466 466 466 466 466 466 466 466 466
Reserves 6,150 5,874 6,068 6,258 6,367 6,632 6,515 6,832 7,436 5,111 5,906 6,498 7,047
8,164 8,257 6,833 5,845 5,492 5,585 5,277 4,767 3,679 3,200 2,605 2,914 2,367
1,309 1,935 1,562 2,148 2,162 1,686 1,896 1,668 1,556 1,684 1,936 1,646 1,266
Total Liabilities 16,089 16,532 14,929 14,717 14,487 14,369 14,155 13,733 13,137 10,461 10,912 11,523 11,146
11,540 11,935 11,444 11,827 11,411 11,348 11,119 10,653 10,174 7,624 7,403 7,004 7,096
CWIP 189 63 491 0 27 8 8 3 33 58 34 42 9
Investments 118 113 90 66 75 131 77 77 77 78 79 79 109
4,242 4,420 2,903 2,824 2,975 2,882 2,951 3,000 2,853 2,700 3,396 4,398 3,931
Total Assets 16,089 16,532 14,929 14,717 14,487 14,369 14,155 13,733 13,137 10,461 10,912 11,523 11,146

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
809 838 2,100 1,490 683 228 668 945 1,341 1,441 1,466 995
-2,669 -966 -253 -11 -86 -471 -72 324 -207 -730 -502 -574
1,683 -118 -1,609 -1,095 -522 -87 -743 -1,120 -1,154 -653 -930 103
Net Cash Flow -178 -246 237 384 74 -329 -146 149 -21 59 34 524

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Debtor Days 77 91 69 61 70 70 56 50 62 47 64 102
Inventory Days
Days Payable
Cash Conversion Cycle 77 91 69 61 70 70 56 50 62 47 64 102
Working Capital Days -68 -95 -133 -143 -187 -102 -114 -91 -17 10 17 54
ROCE % -3% -0% 2% 7% 3% 1% 1% 5% 6% 10% 10% 7%

Shareholding Pattern

Numbers in percentages

2 Recently
Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024
63.75% 63.75% 63.75% 63.75% 63.75% 63.75% 63.75% 63.75% 63.75% 63.75% 63.75% 63.75%
2.21% 2.35% 3.13% 3.28% 3.30% 3.23% 2.89% 3.23% 3.27% 4.66% 4.56% 5.61%
9.50% 8.35% 7.87% 7.81% 7.47% 7.01% 7.01% 6.97% 7.99% 7.87% 8.69% 3.64%
24.54% 25.55% 25.25% 25.17% 25.50% 26.01% 26.36% 26.05% 24.98% 23.74% 23.01% 27.00%
No. of Shareholders 1,81,9101,90,4401,86,2121,80,9931,76,2491,75,1431,83,3392,09,1992,19,4633,04,5273,24,1564,41,535

* 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.

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