The Shipping Corporation of India (SCI) Q2 25/26 earnings summary

Executive summary

• Standalone net profit for Q2 FY26 was INR 176 crore (₹176 crores), consolidated net profit was INR 189 crore (₹189 crores), with an interim dividend of 30% (₹3 per share) declared.

• Operating revenue rose to INR 1,339 crore (₹1,339 crores) sequentially, with consolidated revenue at ₹1,451 crores for Q2 FY26.

• Inducted two VLGCs, "Sahyadri" and "Shivalik," strengthening LPG transport and energy capabilities.

• Unaudited standalone and consolidated financial results for Q2 and H1 FY26 were approved, with statutory auditors issuing unmodified review reports.

• Strategic disinvestment and demerger of non-core assets are ongoing, with leaseback arrangements and due diligence in progress.

Financial highlights

• Standalone net profit: INR 176 crore (₹176 crores); consolidated net profit: INR 189 crore (₹189 crores) for Q2 FY26.

• Standalone operating revenue for Q2 FY26 was ₹1,451 crores, up from ₹1,316 crores in Q2 FY25 and ₹1,339 crores in Q1 FY26.

• Standalone EBITDA for Q2 FY26 was ₹574 crores; PAT was ₹176 crores.

• Net worth: INR 7,963 crore (₹7,963 crores); cash and liquid investments: INR 1,875 crore (₹1,875 crores); long-term debt: INR 2,526 crore (₹2,526 crores).

• Interim dividend of ₹3 per share declared for FY26.

Outlook and guidance

• Optimistic yet prudent outlook, with plans to double or triple revenue over five years via JV and fleet expansion.

• Targeting 50% operating margins for new JV operations.

• Confident in sustained growth of coastal business, with plans to expand tonnage and geographical footprint.

• Prudent capacity management and risk mitigation strategies in place to protect margins amid global volatility.

• Management continues to monitor the volatile shipping market and will make PRP provisions in the last quarter based on annual results.