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The Shipping Corporation (SCI) Fair Value & Analysis

Industrials · IN · Market cap ₹135B (≈ $1.4B) · ISIN INE109A01011

What is The Shipping Corporation really worth?

TS The Shipping Corporation SCI · BSE
Price₹295.15
Fair Value₹493.77
Upside+67.3%
Quality52/100

A solid business, trading 40% below our fair value of ₹493.77.

As of Aug 23, 2026, the fair value of The Shipping Corporation is ₹493.77 per share against a price of ₹295.15, so the fair value sits 67% above the price. A model estimate blended from multiple valuation models, recalculated regularly.

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Risks

!Expensive Growth (revenue 5y +9.3 %/yr)
!Thin margins · 1.1% net margin
!Low debt · negative free cash flow
!Trails peers (4/15)
!Moderate moat 49/100
!Evidence only medium, so the estimate is less certain
!Weak on future: 11 out of 100
Evidence: Medium Range ₹351.77 – ₹617.21

Fair value as of: Aug 23, 2026

From 14 valuation models · updated 14 days ago

Share price −1.8% over the past month.

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

What matters now

  • The price is below even our cautious bear case (₹351.77). The market is more pessimistic than our downside scenario.
  • Solid quality (52/100) at a price below fair value, the discount is the argument here, not the business quality.

Price vs Fair Value (5 years)

₹344.65 ₹50.49 Fair Value ₹493.77 May 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 23, 2026.

How to read this chart

60‑month range ₹50.49 – ₹344.65 · fair‑value band ₹351.77 – ₹617.21 · the ₹295.15 price screens below the ₹493.77 fair value. Dashed = 300-day average. As of Aug 23, 2026.

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Analysis

The Shipping Corporation (SCI) currently trades at ₹295.15, while our model-based Fair Value estimate is ₹493.77, implying the stock looks roughly 40.2% undervalued today. The Quality Score stands at 52/100 (solid quality), in the Industrials sector. Bull case: the Growth Earnings group reads highest at a median of ₹502.53 per share, and 6 of the 14 models we run sit above the ₹295.15 price. Bear case: the Asset-Based group reads lowest at ₹130.84, and 8 of the 14 models stay below the price. Evidence for this calculation is medium.

Over the trailing twelve months, The Shipping Corporation generated revenue of ₹37.1B at a net margin of 1.1%. Revenue grew 40.3% year over year. It earns a return on equity of 9.7%. Net debt stands at ₹23.6B. Fundamentals as of Aug 23, 2026

Our scenario range runs from ₹351.77 (bear case) to ₹617.21 (bull case); at ₹295.15, the current price sits below that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 20% below its 52-week high and 53% above its 52-week low, currently above its 200-day average. For context, the median of 10 Industrials peers we cover trades at 42% fair-value upside, at 67%, SCI screens cheaper than that median.

Fair Value models

This estimate rests on fiscal year 2026 figures, and about 5 months have passed since. In that time the company retained roughly ₹15.14 per share, which is 3.1 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small. Every input is real reported data, nothing guessed.

Model Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
Owner Earnings best evidence ₹161.44 ₹254.31 ₹388.37 76
EPV ₹167.40 ₹201.80 ₹231.90 74
ROIC Compounder ₹167.40 ₹204.58 ₹257.12 72
All 14 models by family
DCF Models
Owner Earnings best evidence ₹161.44 ₹254.31 ₹388.37 76
Earnings-Based
Graham-Dodd ₹197.51 ₹490.18 ₹635.41 65
PEG = 1.0 ₹89.05 ₹127.22 ₹165.38 57
EPV ₹167.40 ₹201.80 ₹231.90 74
Multiples
P/E Multiple ₹457.46 ₹609.95 ₹762.44 63
P/S Multiple ₹186.13 ₹248.17 ₹310.21 58
P/B Multiple ₹370.33 ₹493.77 ₹617.21 55
EV/EBIT ₹268.02 ₹370.36 ₹472.70 66
EV/EBITDA ₹418.46 ₹570.95 ₹723.43 67
EV/Revenue ₹117.35 ₹184.35 ₹251.36 53
Asset-Based
NCAV (Graham) ₹97.64 ₹130.84 ₹195.28 54
Economic Profit
Residual Income ₹194.66 ₹253.91 ₹668.87 68
ROIC Compounder ₹167.40 ₹204.58 ₹257.12 72
Growth Earnings
Growth-Adj P/E ₹351.77 ₹502.53 ₹653.29 67

Widest divergence: Growth Earnings (₹502.53) versus Asset-Based (₹130.84). Highest evidence: Owner Earnings (76).

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Key figures & financial health

P/E ratio 8.5
P/S ratio 1.99 P/E × margin
EPS (TTM) ₹34.76 price ÷ EPS = P/E 8.5
Dividend yield 4.5% payout 38.2%
Net margin 23.4% FY2026
Return on equity 9.7% TTM
More key figures
Profitability
Return on assets (EBIT) 7.4% avg 5y
Operating margin 32.5% TTM
Growth
Revenue (TTM) ₹37.1B TTM
Revenue growth (YoY) +40.3% 3y avg −0.1%
EPS growth (YoY) +75.0%
Balance sheet & cash flow
Free cash flow −₹2.1B FY2026
Net debt ₹23.6B FY2026

Figures from reported company fundamentals · as of Aug 23, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 52/100

Of which business quality 52 · Market factors (momentum, volatility) 68

Profitability 52
Margins and returns on capital today
Quality Growth 40
Are margins and returns improving?
Cashflow 30
Earnings quality: real cash, not paper profit
Fin. Strength 67
Balance sheet, leverage, solvency risk
Investment 42
Disciplined investing over empire-building
Low Volatility 67
Calm price path (market factor)
Momentum 68
Price trend over the last 3–12 months (market factor)
52W Momentum 71
Distance to the 52-week high (market factor)
Net Issuance 82
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.

About the company

The Shipping Corporation of India Limited, a marginal liner shipping company, engages in business of transporting goods in India. It operates through Liner, Bulk, Tanker, and Technical & Offshore segments.

Full company description

The Shipping Corporation of India Limited, a marginal liner shipping company, engages in business of transporting goods in India. It operates through Liner, Bulk, Tanker, and Technical & Offshore segments. The company's fleet includes bulk carriers, crude oil tankers, product tankers, container vessels, passenger-cum-Cargo vessels, LPG/LNG carrier, and offshore supply vessels. Its bulk carriers transport cargos, including iron ore, coal, coke, grain, fertilizer, steel, plywood, bauxite products, etc.; and operates liner and passenger service division comprising container services and marketing, break-bulk, and freight reconciliation dept. The company also provides offshore marine logistics support including towing and anchor handling operations; carriage of men and materials, such as fuel oil, bulk cement and barite, deck cargo, refer cargo, pot water, drill water, etc.; offshore installation; standby and rescue operations; surveillance; and fire fighting duties, as well as engages in operations, manning, maintenance, and management services for well stimulation, geotechnical, and mobile offshore drilling vessels. In addition, it imports and exports in and out of India, which includes shipments of over-dimensional cargoes, project cargoes, and heavy lift cargoes, as well as IMO class I cargoes and containers; and offers passenger and cargo transportation, and chartering services. Further, the company operates lighterage for crude oil transportation and supplies; and provides dry dock cell services, which includes pre dry-docking and post tendering planning, and evaluation and stemming of vessel as per schedule. Additionally, it offers shipbuilding and technical consultancy services including project viability and feasibility, design consultancy, project management, and site supervision services; and maritime training services. The Shipping Corporation of India Limited was incorporated in 1950 and is based in Mumbai, India.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2022 – FY2026 · reported fiscal years

The Shipping Corporation reported revenue of ₹57.8B in FY2026 versus ₹49.9B in FY2022, a compound +3.8%/yr. Reported net income was ₹13.5B in FY2026, compounding +12.0%/yr from FY2022.

Growth Quality 41/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2026)
₹57.8B
Latest YoY
+3.1%
Avg. revenue growth/yr (3Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
−0.1%
Avg. revenue growth/yr (5Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+9.3%
Avg. revenue growth/yr (12Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+2.8%
Value creation/yr (5Y, in INR) Earnings growth per share (CAGR 5 years, EBIT basis) plus dividend yield: value created per share and year. Measured in INR: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
≈ +16.7% (approximate, leans on 2026) · in INR
Earnings growth per share plus dividend yield: the value created per share and year.
Earnings growth per share+12.2%
Dividend yield4.5%
Trend Two data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.5Y 14.2% vs 10Y 21.8%, flattening
Operating margin (EBIT) Operating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.14.4% (2021) → 19.4% (2026) · rising
Worst earnings drop120% (2019) (loss year, drop beyond 100%) · in INR
⚠ Final year 2026 sits 60% above its own trend (e.g. a one-off disposal gain), so this rate uses the operating basis instead of reported profit
Revenue +3.8%/yr
FY22 ₹49.9B
FY23 ₹57.9B
FY24 ₹50.5B
FY25 ₹56.1B
FY26 ₹57.8B
Net income +12.0%/yr
FY22 ₹8.6B
FY23 ₹8.7B
FY24 ₹6.8B
FY25 ₹8.4B
FY26 ₹13.5B

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Cite: Fair Value Calculator (2026). "The Shipping Corporation Fair Value". https://www.fairvalue-calculator.com/stock/SCI.BSE

Peer Group

Marine Shipping · 232 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 52 · Below median
Fair Value upside −20% · Below median
Return on equity (TTM) 10% · Above median
Return on assets 3% · Above median
Net margin (TTM) 1% · Bottom 25%
Operating margin (TTM) 33% · Top 25%
Revenue growth 40% · Top 25%
Dividend yield (TTM) 4.5% · Top 25%
Debt / equity 0.21× · Lower than median

Valuation Multiples vs Marine Shipping median · lower = cheaper

P/E (TTM) 8.5× · Cheaper than median
P/S (TTM) 0.04× · Cheaper than 75% of peers
EV/EBITDA 4.2× · Cheaper than median

Strength profile in five axes (Snowflake)

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE0 · sector 18
FUTURE11 · sector 21
PAST100 · sector 34
HEALTH0 · sector 91
DIVIDEND32 · sector 67

Insider activity: 46/100

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Marine Shipping stocks, each showing price versus our Fair Value estimate (as of Aug 23, 2026).

Stock Price Fair Value vs Fair Value
Adani Ports and Special Economic Zone Limited ADANIPORTS ₹1,707 ₹1,041 −39%
A.P. Møller - Mærsk A/S MAERSKA kr 20,820 kr 20,145 −3%
532921 532921 ₹1,697 ₹1,305 −23%
COSCO SHIPPING Holdings 601919 ¥16.06 ¥49.90 +211%
Hapag-Lloyd Aktiengesellschaft, HLAG €132.80 €88.00 −34%
Shanghai International Port (Group) Co 600018 ¥5.17 ¥6.15 +19%
HMM Co 011200 21,450 KRW 33,795 KRW +58%
Orient Overseas (International) Limited 0316 HK$166.90 HK$237.61 +42%
Ningbo Zhoushan Port Company 601018 ¥3.39 ¥5.58 +65%
Qingdao Port International Co 601298 ¥8.69 ¥15.97 +84%

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Frequently asked questions

Is The Shipping Corporation (SCI) overvalued or undervalued?
As of Aug 23, 2026, our model estimates a fair value of ₹493.77 versus a price of ₹295.15, about +67% upside (undervalued).
What is the fair value of SCI?
Our model-based fair value for The Shipping Corporation is ₹493.77 (as of Aug 23, 2026), built from audited fundamentals. The current price: ₹295.15.
What is the quality score of SCI?
The Shipping Corporation has a Quality Score of 52/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for The Shipping Corporation (SCI)?
Our model-based price target is the fair value of ₹493.77 (as of Aug 23, 2026) from 14 valuation models. Cautious scenario ₹351.77, optimistic scenario ₹617.21. It is a calculation from audited fundamentals, not an analyst target.
What is the The Shipping Corporation stock forecast for 2026?
Our models put fair value at ₹493.77, about +67% upside versus a price of ₹295.15 (undervalued). Cautious scenario ₹351.77, optimistic scenario ₹617.21. The calculation is refreshed regularly with new filings.
What is the revenue of The Shipping Corporation (SCI)?
The Shipping Corporation reported trailing-twelve-month revenue of about ₹37.1B (latest available figure, as of Aug 23, 2026).
What is the net profit margin of SCI?
The net profit margin of The Shipping Corporation is about 1.1%, meaning it keeps roughly 1.1% of revenue as net income. Based on the latest reported figures.
Does The Shipping Corporation pay a dividend?
The Shipping Corporation currently shows a dividend yield of about 4.50% relative to its recent price (as of Aug 23, 2026).
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