The Shipping Corporation of India Limited (SCI.NS) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

+131.7%

₹601.72

vs ₹259.68 price

Levered DCF

₹107.67

After debt service

Piotroski score

5 / 9

Average

Altman Z-score

—

Rating

B+

Overall 3 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
P/E	7.56×	9.4×	14.89×	5.01×	4.85×	5.75×	4.03×	-21.98×
P/B	1.12×	0.95×	1.34×	0.63×	0.7×	0.49×	0.18×	0.19×
P/S	1.77×	1.42×	2.01×	0.76×	0.85×	1.08×	0.31×	0.36×
EV / EBITDA	4.72×	4.86×	7.22×	3.97×	4.41×	5.19×	4.76×	7.48×
Gross margin	23.6%	18.3%	13.7%	19.3%	19.1%	16.0%	31.2%	8.6%
Operating margin	19.4%	16.1%	11.2%	17.4%	17.8%	14.5%	15.9%	3.4%
Net margin	23.4%	15.1%	13.5%	15.1%	17.5%	18.9%	7.7%	-1.6%
Current ratio	2.23×	2.19×	1.25×	0.96×	0.81×	0.95×	0.53×	0.6×
Debt / equity	0.29×	0.27×	0.39×	0.38×	0.54×	0.45×	0.65×	0.73×
Interest coverage	6.47×	6.14×	3.62×	8.28×	13.14×	5×	3.28×	0.53×
Dividend yield	5.9%	0.3%	0.2%	0.4%	0.3%	0.9%	0.0%	0.0%
Payout ratio	45.0%	2.8%	3.0%	1.8%	1.3%	5.0%	0.0%	-0.3%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	14.9%	10.1%	9.0%	12.6%	14.4%	8.5%	4.5%	-0.9%
Return on invested capital	9.0%	8.4%	5.4%	10.5%	9.1%	4.4%	4.9%	1.0%
Return on assets	10.2%	7.2%	5.6%	7.6%	7.9%	5.2%	2.4%	-0.4%
Free cash flow yield	-0.3%	7.0%	4.8%	22.7%	22.8%	28.6%	62.0%	31.5%
Earnings yield	13.2%	10.6%	6.7%	20.0%	20.6%	17.4%	24.8%	-4.6%
Enterprise value	₹125.6B	₹95.8B	₹121.9B	₹66.5B	₹70.9B	₹74.5B	₹59.6B	₹65.6B
Net debt / EBITDA	0.88×	0.84×	1.23×	1.36×	1.82×	2.4×	3.68×	5.91×
Cash conversion cycle (days)	-2	29	33	10	-24	4	-10	-27