The Shipping Corporation of India (SCI) Q2 24/25 earnings summary

Executive summary

• Unaudited consolidated revenue from operations for the quarter ended 30.09.2024 was ₹145,076 lakhs, with total income at ₹149,123 lakhs, and profit before tax at ₹29,842 lakhs, reflecting stable performance year-over-year.

• The Board approved the results on 08.11.2024, and auditors issued an unmodified review report.

• Dividend of ₹0.50 per equity share was approved and paid following the 74th AGM.

Financial highlights

• For the six months ended 30.09.2024, consolidated revenue from operations was ₹296,503 lakhs, with profit after tax at ₹58,292 lakhs.

• Basic and diluted EPS for the quarter were ₹6.26, and for the half-year, ₹12.51.

• Cash and cash equivalents as of 30.09.2024 stood at ₹24,299 lakhs, down from ₹84,162 lakhs at 31.03.2024.

• Net cash from operating activities for the half-year was ₹50,157 lakhs, with significant outflows in investing and financing activities.

Outlook and guidance

• The company continues to pursue strategic disinvestment, with the process managed by DIPAM and a virtual data room open for due diligence.

• Volatility in the shipping business and PRP evaluation mechanisms are acknowledged, with provisions for PRP made in the last quarter.