Shipping Corporation of India Ltd

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Shipping Corporation of India Ltd

₹ 95.2 0.32%
30 May - 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

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

Website BSE NSE
  • Market Cap ₹ 4,435 Cr.
  • Current Price ₹ 95.2
  • High / Low ₹ 117 / 65.9
  • Stock P/E 5.54
  • Book Value ₹ 137
  • Dividend Yield 0.35 %
  • ROCE 8.79 %
  • ROE 10.6 %
  • Face Value ₹ 10.0
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Pros

  • Stock is trading at 0.70 times its book value
  • Company has delivered good profit growth of 24.5% CAGR over last 5 years
  • Company's working capital requirements have reduced from 50.0 days to 17.0 days

Cons

  • The company has delivered a poor sales growth of 10.8% over past five years.
  • Tax rate seems low
  • Company has a low return on equity of 9.42% over last 3 years.
  • Contingent liabilities of Rs.3,137 Cr.
  • Company might be capitalizing the interest cost

* 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

Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023
1,314 1,143 843 841 875 1,028 1,221 1,431 1,309 1,465 1,420 1,496 1,418
1,010 638 639 616 652 692 822 966 982 1,168 1,098 1,027 953
Operating Profit 304 505 204 226 223 336 399 465 327 297 322 469 465
OPM % 23% 44% 24% 27% 26% 33% 33% 33% 25% 20% 23% 31% 33%
78 35 34 32 25 21 8 25 46 35 38 25 34
Interest 110 50 -55 -7 33 52 13 17 76 50 47 38 50
Depreciation 164 159 159 156 154 155 161 159 160 172 190 195 196
Profit before tax 108 332 133 107 62 150 233 315 137 111 123 262 254
Tax % -6% 4% 2% 4% -6% 3% 2% 8% 8% 11% 10% 6% -42%
Net Profit 114 317 131 103 66 146 228 290 127 99 111 246 360
EPS in Rs 2.44 6.82 2.82 2.22 1.42 3.13 4.90 6.23 2.72 2.12 2.38 5.28 7.72
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
3,868 4,196 4,232 4,186 4,050 3,447 3,469 3,873 4,425 3,703 4,995 5,794
3,860 3,942 3,643 3,361 2,688 2,667 2,793 3,160 3,283 2,539 3,463 4,236
Operating Profit 8 253 589 826 1,362 780 677 713 1,143 1,164 1,532 1,558
OPM % 0% 6% 14% 20% 34% 23% 20% 18% 26% 31% 31% 27%
648 601 254 401 165 145 143 232 243 121 103 113
Interest 387 162 208 180 195 174 180 362 367 22 161 184
Depreciation 609 761 856 770 542 566 610 658 671 628 635 753
Profit before tax -340 -68 -221 276 789 186 29 -75 348 635 838 733
Tax % -26% -67% -24% 27% 5% 23% -761% -63% 13% 3% 5% -9%
Net Profit -428 -114 -275 201 753 142 254 -122 302 618 795 800
EPS in Rs -9.19 -2.45 -5.90 4.31 16.17 3.05 5.45 -2.62 6.49 13.27 17.06 17.18
Dividend Payout % 0% 0% 0% 0% 0% 0% 0% 0% 12% 2% 2% 3%
Compounded Sales Growth
10 Years: 3%
5 Years: 11%
3 Years: 9%
TTM: 16%
Compounded Profit Growth
10 Years: 13%
5 Years: 25%
3 Years: 54%
TTM: 1%
Stock Price CAGR
10 Years: 13%
5 Years: 14%
3 Years: 38%
1 Year: 3%
Return on Equity
10 Years: 5%
5 Years: 6%
3 Years: 9%
Last Year: 11%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
466 466 466 466 466 466 466 466 466 466 466 466
Reserves 6,269 6,150 5,874 6,068 6,258 6,367 6,632 6,515 6,832 7,436 8,234 5,906
6,323 8,164 8,257 6,833 5,845 5,492 5,585 5,277 4,767 3,679 3,200 2,605
981 1,309 1,935 1,562 2,148 2,162 1,686 1,896 1,668 1,556 1,955 1,936
Total Liabilities 14,038 16,089 16,532 14,929 14,717 14,487 14,369 14,155 13,733 13,137 13,855 10,912
8,913 11,540 11,935 11,444 11,827 11,411 11,348 11,119 10,653 10,174 7,625 7,403
CWIP 362 189 63 491 0 27 8 8 3 33 58 34
Investments 275 118 113 90 66 75 131 77 77 77 78 79
4,489 4,242 4,420 2,903 2,824 2,975 2,882 2,951 3,000 2,853 6,094 3,396
Total Assets 14,038 16,089 16,532 14,929 14,717 14,487 14,369 14,155 13,733 13,137 13,855 10,912

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
-449 809 838 2,100 1,490 683 228 668 945 1,341 1,645 1,466
-1,664 -2,669 -966 -253 -11 -86 -471 -72 324 -207 -1,079 -520
1,089 1,683 -118 -1,609 -1,095 -522 -87 -743 -1,120 -1,154 -653 -930
Net Cash Flow -1,024 -178 -246 237 384 74 -329 -146 149 -21 -87 16

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Debtor Days 74 77 91 69 61 70 70 56 50 62 47 64
Inventory Days
Days Payable
Cash Conversion Cycle 74 77 91 69 61 70 70 56 50 62 47 64
Working Capital Days -33 -68 -95 -133 -143 -187 -102 -114 -91 -17 150 17
ROCE % -2% -3% -0% 2% 7% 3% 1% 1% 5% 6% 8% 9%

Shareholding Pattern

Numbers in percentages

Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023
63.75 63.75 63.75 63.75 63.75 63.75 63.75 63.75 63.75 63.75 63.75 63.75
1.63 1.26 0.96 0.85 0.89 0.96 2.21 2.35 3.13 3.28 3.30 3.23
16.29 15.12 13.73 11.44 10.57 10.37 9.50 8.35 7.87 7.81 7.47 7.01
18.33 19.87 21.56 23.96 24.79 24.92 24.54 25.55 25.25 25.17 25.50 26.01

* 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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