What was Shipping of India's revenue in Q4 FY26?

Shipping of India reported revenue of ₹1,513 Cr in Q4 FY26, a +3.3% change year-over-year.

Did Shipping of India management deliver on previous promises?

Scorecard data is being built as historical quarters are processed.

SHIPPINGOFINDIA Diversified 28 Apr 2026

Shipping Corporation of India Ltd — Q4 FY26

Q: What guidance did Shipping of India management give?

Fleet expansion of 59 vessels under oil & gas JV: Demand aggregation for 59 vessels identified; JV under ministry consideration.

SCI delivered its highest-ever consolidated PBT of ₹1,423 crore, up 67% YoY, driven by a robust tanker segment (PBT up 75% to ₹1,190 crore) amid elevated freight rates due to Middle East conflict.

Revenue ₹1,513 Cr +3.3%

EBITDA ₹2,633 Cr

PAT ₹405 Cr +62.9%

EBITDA Margin 40%

Duration 62 min

Read Time 1 min read

✓ Verified against BSE filing

2-Minute Summary

✦ AI-Generated from Full Transcript

SCI delivered its highest-ever consolidated PBT of ₹1,423 crore, up 67% YoY, driven by a robust tanker segment (PBT up 75% to ₹1,190 crore) amid elevated freight rates due to Middle East conflict. Standalone PAT rose to ₹1,326 crore (vs ₹814 crore). Revenue grew modestly 3.3% to ₹5,778 crore as some vessels were stuck in the Strait of Hormuz, deferring revenue recognition. The company maintains a strong balance sheet with net worth of ₹8,489 crore and debt-equity of 0.29. Management guided for fleet expansion via JVs (oil PSUs and Bharat Container Line) targeting 110+ vessels over 5-20 years, with an IRR threshold of 10-12%. Near-term, elevated spot rates and release of stuck vessels should boost Q1 FY27 earnings. Key risk: a rapid de-escalation of the Middle East conflict could sharply reduce tanker rates and earnings.

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Risk Intelligence

Middle East conflict de-escalation

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Quarter Snapshot

Tanker segment PBT ₹1,190 crore

+75% YoY

Tanker profitability surged due to elevated freight rates from Middle East conflict.

Fleet size (owned) 58 vessels

+2 vessels YoY

Inducted two VLGCs (Shahadri and Shivalik) during the year.

Coastal liner utilization 99%

flat YoY

High utilization reflects strong domestic demand and operational reliability.

Debt-equity ratio 0.29

flat YoY

Conservative leverage provides financial flexibility for expansion.

Fast read

Guidance and risk preview

Top guidance Fleet expansion of 59 vessels under oil & gas JV

Demand aggregation for 59 vessels identified; JV under ministry consideration.

Top risk Middle East conflict de-escalation

A rapid resolution could cause tanker rates to fall sharply, reducing earnings from spot-exposed vessels.

View Risks →