Shipping Corporation of India Reports Record Profit Surge
Shares of the Shipping Corporation of India (SCI) experienced a significant rally on Monday, climbing as much as 14% to reach an intraday high of Rs 253 on the Bombay Stock Exchange (BSE). This surge follows the company’s announcement of a remarkable 440% increase in net profit for the third quarter of the fiscal year 2026. SCI reported a net profit of Rs 405 crore, a substantial rise from Rs 75.52 crore in the same quarter last year.
The company’s revenue from operations also saw a notable increase, reaching Rs 1,612 crore, which represents a 22.5% growth compared to Rs 1,316 crore during the corresponding period in the previous year. The impressive performance was largely driven by the tanker segment, which reported a 34% increase in revenue, amounting to Rs 1,097 crore. Additionally, the operating profit (EBIT) for this segment surged by an astonishing 389% year-on-year. The bulk carrier segment also contributed to the overall growth, with revenue climbing to Rs 237.51 crore from Rs 147 crore in the same quarter last year.
Dividend Declaration and Future Plans
In conjunction with the strong financial results, SCI’s board declared a second interim dividend of Rs 3.50 per equity share, which is equivalent to 35% of the face value of Rs 10. The record date for determining shareholder eligibility for this dividend has been set for Tuesday, February 17, 2026. Shareholders can expect the dividend to be paid within 30 days of its declaration.
Looking ahead, SCI is actively pursuing expansion opportunities. Last month, the company invited bids for the acquisition of eight new very large gas carriers (VLGCs). According to an expression of interest (EOI) document released earlier this month, six of these vessels are required to be built domestically, while two may be sourced from international shipyards. The bidding process will be subject to specific regulations, including Press Note 3 restrictions, which are designed to limit Chinese investment and participation in sensitive tenders. Bidders from countries sharing a land border with India will only be eligible if they are registered with the competent authority.
As SCI continues to navigate the maritime industry, its recent financial performance and strategic initiatives signal a robust outlook for the company in the coming quarters.
