Shipping Corporation of India Ltd

About

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

  • Market Cap 6,919 Cr.
  • Current Price 149
  • High / Low 154 / 58.0
  • Stock P/E 11.2
  • Book Value 184
  • Dividend Yield 0.17 %
  • ROCE 6.06 %
  • ROE 8.84 %
  • Face Value 10.0

Pros

  • Company has reduced debt.
  • Stock is trading at 0.81 times its book value

Cons

  • The company has delivered a poor sales growth of -1.77% over past five years.
  • Tax rate seems low
  • Company has a low return on equity of 3.75% for last 3 years.
  • Contingent liabilities of Rs.2841.95 Cr.
  • Company might be capitalizing the interest cost

Peer comparison

Sector: Shipping Industry: Shipping

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021
1,075 1,006 933 974 1,218 1,314 1,143 843 841 875 1,028 1,221
638 782 762 796 724 1,013 638 639 616 652 692 822
Operating Profit 437 224 171 179 495 301 505 204 226 223 335 399
OPM % 41% 22% 18% 18% 41% 23% 44% 24% 27% 26% 33% 33%
Other Income 37 78 46 97 68 78 54 44 60 45 34 24
Interest 92 80 59 133 79 110 50 -55 -7 33 52 13
Depreciation 170 170 169 168 170 164 159 159 156 154 155 161
Profit before tax 212 52 -12 -25 314 105 351 144 136 82 162 248
Tax % 9% -17% -143% -64% 6% -6% 4% 2% 3% -5% 2% 2%
Net Profit 192 61 -29 -41 295 111 337 142 132 86 159 243
EPS in Rs 4.11 1.30 -0.62 -0.88 6.34 2.38 7.23 3.05 2.82 1.84 3.40 5.22

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 TTM
4,311 4,050 3,447 3,469 3,873 4,425 3,703 3,966
3,396 2,688 2,667 2,793 3,160 3,283 2,544 2,783
Operating Profit 916 1,362 780 677 713 1,143 1,159 1,183
OPM % 21% 34% 23% 20% 18% 26% 31% 30%
Other Income 395 193 185 196 292 277 204 162
Interest 239 195 174 180 362 367 22 91
Depreciation 801 542 566 610 658 671 628 627
Profit before tax 270 818 226 82 -16 382 713 628
Tax % 28% 4% 19% -273% -304% 12% 2%
Net Profit 195 782 182 306 -63 336 696 619
EPS in Rs 4.19 16.78 3.92 6.58 -1.35 7.22 14.94 13.28
Dividend Payout % 0% 0% 0% 0% 0% 10% 2%
Compounded Sales Growth
10 Years: %
5 Years: -2%
3 Years: 2%
TTM: -12%
Compounded Profit Growth
10 Years: %
5 Years: -2%
3 Years: 33%
TTM: -30%
Stock Price CAGR
10 Years: 9%
5 Years: 20%
3 Years: 52%
1 Year: 165%
Return on Equity
10 Years: %
5 Years: 4%
3 Years: 4%
Last Year: 9%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Sep 2021
466 466 466 466 466 466 466 466
Reserves 6,053 6,272 6,428 6,769 6,717 7,018 7,702 8,115
Borrowings 7,739 5,845 5,492 5,585 5,277 4,767 3,679 3,423
1,580 2,148 2,162 1,686 1,896 1,668 1,556 1,712
Total Liabilities 15,839 14,731 14,549 14,506 14,357 13,919 13,403 13,717
12,280 11,827 11,411 11,348 11,119 10,653 10,174 10,052
CWIP 567 0 27 8 8 3 33 31
Investments 77 80 136 269 279 298 354 383
2,915 2,824 2,975 2,882 2,951 2,964 2,841 3,251
Total Assets 15,839 14,731 14,549 14,506 14,357 13,919 13,403 13,717

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
2,197 1,490 683 228 712 945 1,340
-308 -11 -86 -471 7 324 -206
-1,675 -1,095 -522 -87 -866 -1,120 -1,154
Net Cash Flow 214 384 74 -329 -146 149 -20

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
Debtor Days 68 61 70 70 56 50 62
Inventory Days
Days Payable
Cash Conversion Cycle 68 61 70 70 56 50 62
Working Capital Days -26 -27 -35 3 -4 -2 -17
ROCE % 7% 3% 2% 2% 5% 6%

Shareholding Pattern

Numbers in percentages

Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021
63.75 63.75 63.75 63.75 63.75 63.75 63.75 63.75 63.75 63.75 63.75 63.75
2.43 1.60 1.60 1.25 1.32 1.72 1.63 1.26 0.96 0.85 0.89 0.96
17.99 17.08 16.56 16.73 16.50 15.59 16.29 15.12 13.73 11.44 10.57 10.37
15.83 17.57 18.09 18.27 18.43 18.94 18.33 19.87 21.56 23.96 24.79 24.92

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