Interim report
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Ref: A10-SEC-BD-808/202/2025 Date: 07.11.2025 To, Listing Compliance Department BSE Limited, Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai – 400001. The Manager - Listing Compliance National Stock Exchange of India Limited ‘Exchange Plaza’ C-1, Block G, Bandra Kurla Complex, Bandra (East), Mumbai – 400051 Scrip Code: 523598 Trading Symbol: SCI Dear Sir/Madam, Outcome of Board Meeting and Compliance of Regulation 30 and 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (‘SEBI Listing Regulations’) The Board of Directors of the Company at their Meeting held today on 07.11.2025 considered and approved the Unaudited Standalone and Consolidated Financial Re sults for the quarter and half year ended 30.09 .2025. The copy of Unaudited Standalone and Consolidated Financial Results along with copy of Limited Review Report for the quarter and half year ended 30.09.2025 signed by the Statutory Auditors of the Company is enclosed herewith. (Annexure 1) Further, pursuant to Regulation 30 of the SEBI Listing Regulations , it is also informed that at the said Meeting, the Board of Directors have declared an Interim Dividend of Rs. 3/- per equity share of face value of Rs.10/- each i.e. 30% per share, for the Financial Year 2025-26. In terms of requirements of Regulation 42 of SEBI Listing Regulations, the Board has also fixed Wednesday, 19.11.2025 as the "Record Date" for the purpose of ascertaining the eligibility of shareholders for payment of interim dividend. The said interim dividend would be paid within 30 days from the date of its declaration. Shareholder(s) are kindly requested to update/ submit details for TDS on dividend to Registrar and Transfer Agent of the Company viz. Alankit Assignments Limited at rta@alankit.com on or before Wednesday, 19th November 2025. No communication on the tax determination/deduction of tax at lower rates shall be entertained after Wednesday, 19 th November 2025. It is further informed that in case tax on dividend is deducted at a higher rate in the absence of requisite details/ documents, refund of the excess tax paid may still be claimed by shareholders at the time of filing of income tax return. However, no claim shall lie against the Company for such taxes deducted. Further, shareholders will be able to see the credit of TDS in Form 26AS, which can be downloaded from their e-filing account at Income Tax portal. Further, in continuation to our intimation dated 03.11.2025, it is her eby informed that the Trading Window for dealing in the Securities of the Company, which was initially closed w.e .f. 01.10.2025, has been extended and shall remain closed up to forty eight (48) hours after the
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record date for payment of the Interim Dividen d, as decided by the Board of Directors in its meeting dated 07.11.2025. The Meeting of Board of Directors commenced at 1430 hours IST and concluded at 1830 hours IST. Submitted for your information. Kindly take the same on your records. Thanking You. Yours Faithfully, For The Shipping Corporation of India Limited Smt. Swapnita Vikas Yadav Company Secretary and Compliance Officer Encl: As mentioned above.
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MIs. D. R. Mohnot & Co Chartered Accountants BO; 606, Janki Estate 29, Shah Industrial Estate Off Veera Desai Road, Andheri (East) Mumbai 400053 MIs. PSD & Associates Chartered Accountants BO: B-13, Jesal Mahal CHS, Jesal Park, Near St. Francis School, Bhayandar (East), Mumbai-401105 Inde pendent Auditor's Limited Review Report on the Unaudited Standalone Financial Results of The Shipping Corporat ion of India Limited for the quart er and six months ended 30.09.2025, pursuant to the Regulati on 33 and Regulation 52 of the SESI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended To The Soard of Directors The Shippi ng Corp orat ion of India Limite d 1. We have reviewed the accompanying Statement of Unaudited Standalone Financial Results of The Shipping Corporation of Indi a Limited (the 'Company') for the quarter and six months ended 30.09.2025 (the 'Statement'l, being submitted by the Company pursuant to the requirements of Regulation 33 and Regulation 52 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("the regulations") as amended. 2. This Statement, which is the responsibility of the Company's Management and approved by the Company's Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in the Indian Accounting Standards 34 "Interim Financial Reporting" ("Ind AS 34"), prescribed under section 133 of the Companies Act, 2013 (the 'Act') as amended read with relevant rules issued thereunder and other accounting principles generally accepted in India. Our responsibility is to issue a report on the Statement based on our review. 3. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410, "Review of Interim Financial Information performed by the Independent Auditor of the Entity" issued by the Institute of Chartered Accountants of India (ICAI). This standard requires that we plan and perform the review to obtain moderate assurance as to whether the Statement is free from material misstatement. A review of interim financial information consists of making inquiries, primarily of persons responsible for financials and accounting matters, and applying analytical and other review procedures. A review is substanitailly less in scope than an audit conducted in accordance with standards on auditing and consequently does not enables us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion. 4. We draw attention to the following matters forming part of the notes to the Statement: i. (a) Note no. 7 (a) regarding the practice of seeking balance confirmations in respect of Trade Receivables, Trade Payables and DepOSits, the process of reconciliation and the management's assertion that it would not have any material difference affecting the financial results. ii. (b) Note no 7 (b) regarding reconciliation of agent/vendor/customer balances and its consequential impact on foreign exchange gain/loss including the accuracy of the exchange gain / loss accounted on revaluation of balances. As stated in the referred note by management, the impact of the same wou ld not be mater ial. (c) Note No.8 regarding reconciliation of net tax assets as per books of accounts and corresponding tax returns and assessment orders. As stated in the said note the impact of the same would not be material. Page 1 of 2
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Mis. D. R. Mohnot & Co Chartered Accountants BO; 606, Janki Estate 29, Shah Industrial Estate Off Veera Desai Road, Andher i (East) Mumbai 400 053 Mis. PSD & Associates Chartered Accountants BO: B-13, Jesal Mahal CHS, Jesal Park, Near St. Francis School, Bhayandar (East), Mumbai-401105 iii. Note no. 10 regarding MCA'a approval in FY 22-23 for demerger between The Shipping Corporation of India Limited ("Demerged Company") and The Shipping corporation of India Limited Land and Assets Limited ("Resulting Company") and consequently, transfer of non-core assets to SCI LAL and leaseback of the same to SCI and management's assessment of treating the same as short term lease pending execution of formal lease agreement and disinvestment process. Our conclusion is not modified in respect of above matters. 5. Based on our review conducted and procedure performed as stated in paragraph 3 above nothing has come to our attention that causes us to believe that the accompanying Statement read with notes thereon, of unaudited standalone financial results, prepared in accordance with recognition and measurement principles laid down in the Indian Accounting Standards prescribed under Section 133 of the Act, as amended, read with relevant rules issued there under and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of the Regulation 33 of the Listing Regulations, as amended, including the manner in which it is to be disclosed, or that it contains any material misstatement. 6. Other Matter The statement includes comparative figures for the quarter and six month ended 30.09.2024, which have been reviewed by us. Our audit report dated 08th November, 2024, expressed an unmodified conclusion on those standalone financial results. Our conclusion is not modified in respect of this matter. For MIs. D. R. Mohnot & Co Chartered Allcountants Place: Mumbai Date: 07.11.2025 Page 2 of 2 FRN -004501 priyat~r a rka Partner M. No. 430629 UDIN: 254 :106"2..9 13M K,804/0'3
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Sr No. 1 2 3 4 5 6 7 8 9 10 11 12 13 14 THE SHIPPING CORPORATION OF INDIA LTD. CIN: L63030MH1950GOI008033 Regd off: Shipping House, 245, Madame Cama Road, Mumbai • 400021 Web site: www.shipindia.com Phone No : 022 • 22026666 STATEMENT OF UNAUDITED STANDALONE FINANCIAL RESULTS FOR THE QUARTER AND HALF YEAR ENDED SEPTEMBER 30,2025 (~in lakhs) STANDALONE QUARTER ENDED Particulars HALF YEAR ENDED YEAR ENDED 30.09.2025 30.06.2025 30.09.2024 30.09.2025 30.09.2024 31.03.2025 (UNAUDITED) (UNAUDITED) (UNAUDITED) (UNAUDITED) (UNAUDITED) (AUDITED) Revenue from operations 1,33,850 1,31,568 1,45,063 2,65,418 2,96,470 5,59,233 Other Income 9,504 14,566 4,008 24,070 8,406 19,304 Total Income (1+2) 1,43,354 1,46,134 1,49,071 2,89,488 3,04,876 5,78,537 Expenses Cost of services rendered 68,092 68,906 77,777 1,36,998 1,63,243 3,09,126 Employee benefits expense 13,214 12,701 12,268 25,915 24,208 56,841 Finance costs 4,737 3,050 4,319 7,787 8,359 18,629 Depreciation and amortisation expense 25,568 24,960 23,377 50,528 45,347 95,120 Other expenses 11,673 986 1,610 12,659 4,625 16,576 Total expenses (4) 1,23,284 1,10,603 1,19,351 2,33,887 2,45,782 4,96,292 Profitl(Loss) before exceptional items and tax (3-4) 20,070 35,531 29,720 55,601 59,094 82,245 Exceptional items - - - - - - Profitl(Loss) before tax (5-6) 20,070 35,531 29,720 55,601 59,094 82,245 Tax expense Current tax 2,480 1,342 696 3,822 1,376 3,309 Tax pertaining to earlier years 1 (134) 2 (133) 4 (2,441) Deferred tax - - - - - (33) Total tax expense (8) 2,481 1,208 698 3,689 1,380 835 Profitl(Loss) for the period (7-8) 17,589 34,323 29,022 51,912 57,714 81,410 Other comprehensive income Items that will not be reclassified to profit or loss: Remeasurements gain/(Ioss) of defined benefit plans 417 259 (576) 676 (496) (1,056) Other comprehensive income for the period, net of tax (10) 417 259 (576) 676 (496) (1,056) II0tai comprenenslve Income for the period (9+10) 18,006 34,582 28,446 52,588 57,218 80,354 Paid Up Equity Share Capital (Face value RS.10 each) 46,580 46,580 46,580 46,580 46,580 46,580 Other Equity excluding Revaluation Reserves 7,27,807 Earnings per equity share (not annualised) (1 ) Basic earnings per share (in ~ ) 3.78 7,37 6.23 11.14 12.39 17.48 (2) Diluted earnings per share (in ~) 3.78 7.37 6.23 11.14 12.39 17.48
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Segment-Wise Revenue, Results, Assets and Liabilities (i!: in lakhs) STANDALONE Sr QUARTER ENDED HALF YEAR ENDED YEAR ENDED No. PARTICULARS 30.09.2025 30.06.2025 30.09.2024 30.09.2025 30.09.2024 31.03.2025 (UNAUDITED) (UNAUDITED) (UNAUDITED) (UNAUDITED) (UNAUDITED) (AUDITED) 1 Segment Revenue i. Liner 21,292 20,087 29,828 41,379 51,654 1,03,623 ii. Bulk Carrier 20,089 13,264 21,384 33,353 46,454 71,129 iii. Tanker 85,758 91,328 88,479 1,77,086 1,86,504 3,60,960 iv. Technical & Offshore 7,379 7,233 7,012 14,612 14,743 27,619 Total 1,34,518 1,31,912 1,46,703 2,66,430 2,99,355 5,63,331 Unallocated Revenue 4,848 2,810 478 7,658 1,937 5,938 Total 1,39,366 1,34,722 1,47,181 2,74,088 3,01,292 5,69,269 2 Segment Results ProfiU(Loss) before Tax and Interest i. Liner 1,104 4,782 8,386 5,886 10,003 16,622 ii. Bulk Carrier 211 (4,801) 2,014 (4,590) 7,188 (2,224) iii. Tanker 18,006 24,474 18,851 42,480 40,666 68,014 iv. Technical & Offshore 188 (157) 1,994 31 3,912 3,248 Total 19,509 24,298 31,245 43,807 61,769 85,660 Add: Unallocated income (Net of expenditure) 1,310 2,871 904 4,181 2,100 5,946 Profit before Interest and Tax 20,819 27,169 32,149 47,988 63,869 91,606 Less: Interest Expenses i. Liner 401 432 192 833 212 1,202 ii. Bulk Carrier 511 376 545 887 1,242 2,386 iii. Tanker 868 245 388 1,113 800 1,563 iv. Technical & Offshore 139 117 196 256 404 779 Total Segment Interest Expense 1,919 1,170 1,321 3,089 2,658 5,930 Unallocated Interest expense 2,818 1,880 2,998 4,698 5,701 12,699 Total Interest Expense 4,737 3,050 4,319 7,787 8,359 18,629 Add: Interest Income 3,988 11,412 1,890 15,400 3,584 9,268 Profit/(Loss) before Tax . 20,070 35,531 29,720 55,601 59,094 82,245 3 Segment Assets i. Liner 1,05,718 1,00,674 1,49,996 1,05,718 1,49,996 1,22,252 ii. Bulk Carrier 1,57,772 1,55,892 1,77,750 1,57,772 1,77,750 1,60,632 iii. Tanker 5,66,713 4,69,406 4,97,765 5,66,713 4,97,765 4,89,768 iv. ~ dchnical & Offshore 94,470 91,354 1,00,498 94,470 1,00,498 88,686 Total Segment Assets 9,24,673 8,17,326 9,26,009 9,24,673 9,26,009 8,61,338 Unallocable Assets 3,08,983 3,07,566 1,88,589 3,08,983 1,88,589 2,51,831 Total Assets 12,33,656 11,24,892 11,14,598 12,33,656 11,14,598 11,13,169 4 Segment Liabilities i. Liner 80,618 92,396 89,135 80,618 89,135 75,010 ii. Bulk Carrier 52,888 54,692 62,286 52 ,888 62,286 52,838 iii. Tanker 1,14,268 14,204 56,359 1,14,268 56,359 44,165 iv. Technical & Offshore 22,329 21,113 18,414 22,329 18,414 20,531 Total Segment Liabilities 2,70,103 1,82,405 2,26,194 2,70,103 2,26,194 1,92,544 Unallocable Liabilities 1,67,274 1,33,518 1,37,153 1,67,274 1,37,153 1,46,238 Total Liabilities 4,37,377 3,15,923 3,63,347 4,37,377 3,63,347 3,38,782
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THE SHIPPING CORPORATION OF INDIA LTD. NOTES TO FINANCIAL RESULTS: (1) STATEMENT OF UNAUDITED STANDALONE ASSETS AND LIABILITIES AS AT SEPTEMBER 30, 2025 (' in lakhs) As at As at Particulars 30 September 2025 31 March 2025 ASSETS Non-current assets Property, plant and equipment Capital work-in-progress Right-of-use asset Other intangible assets Financial assets i. Investments ii. Loans iii. Other financial assets Deferred tax assets (net) Income Tax assets (net) Other non-current assets Total non -current assets Current assets Inventories Financial assets i. Investments ii. Trade receivables iii. Cash and cash equivalents iv. Bank balances other than (iii) above v. Loans vi. Other financial assets Other current assets Total current assets Assets classified as held for sale Total assets EQUITY AND LIABILITIES Equity Equity share capital Other Equity Total equity LIABILITIES Non-current liabilities Financial liabilities i. Borrowings ii. Lease Liabilities iii. Other financial liabilities Provisions Deferred tax liabilities (net) Other non-current liabilities Total non-curre nt liabi litie s Current liabilities Financial liabilities i. Borrowings ii. Lease Liabilities iii. Trade payables (a) total outstanding dues of micro enterprises and small enterprises ; and (b) total outstanding dues of creditors other than micro enterprises and small enterprises iv. Other financial liabilities Other current liabilities Provisions Total current liabilities Total liabiliti es r~uity and liabilities - - 7,21 ,802 2,318 22,206 40 11 ,000 24,020 1,844 - 25,433 18,611 8,27,276 15,304 15,076 1,21 ,678 62,494 8,085 165 1,68,000 15,578 4,06,380 - 12,33,656 46,580 7,49,699 7,96,279 2,12,048 12,867 168 6,012 76 - 2,31 ,171 44,168 11,978 5,288 80,651 50,862 12,573 686 2,06,206 4,37,377 12,33,656 6,43 ,330 435 27,668 54 11,000 23,587 1,219 - 33,657 17,858 7,58,808 19,273 17,610 1,19,355 13,817 41,200 165 1,24,559 18,382 3,54,361 - 11,13,169 46,580 7,27,807 7,74,387 1,50,903 18,171 168 6,626 76 - 1,75,944 42,534 11,159 4,487 76,237 14,839 12,690 892 1,62,838 3,38,782 11,13,169
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THE SHIPPING CORPORATION OF INDIA LTD. (2) UNAUDITED STANDALONE CASH FLOW STATEMENT FOR THE HALF VEAR ENDED SEPTEMBER 30,2025 (~ in lakhs) Particulars Half Vear ended Vear ended 30 September 2025 31 March 2025 A Cash Flow from operating activities Profit/CLoss) before income tax Adjustments for Add: Depreciation and amortisation expenses Finance costs Bad debts and irrecoverable balances written off Provision for doubtful debts Write off of Fixed Assets Foreign Currency Fluctuations Less: Dividend received Dividend received from Joint Ventures Interest received Excess Provisions wrillen back Profit on sale of investment (Mutual Fund) Surplus on sale of fixed assets Gain on fair valuation of Mutual Fund Change in non-current investment due to fair valuation Change in operating assets and liabilities (lncrease)/Decrease in Trade Receivables (Increase)/Decrease in Other Current / Non Current Assets (Increase)/Decrease in inventories Increase/(Decrease) in Trade Payables Increase/(Decrease) in Other Current / Non Current liabilities Cash generated from operations Income taxes paid Net caSh ,"flow I (outflOW) Irom opera InQ activ i les B Cash flow from investing activities : Purchase of property, plant and equipment! intangible assets Sale proceeds of property, plant and equipment Dividend Received from Joint Ventures Profit on sale of investment (Mutual Fund) Investment in Shares of SCI Bharat IFSC Limited Purchase/sale of investments Net (Mutual Funds) Loans given to Subsidiary· ICSL Loan remmited / Recovery tolfrom employees and Joint venture Other Depos~s w~h banks Advances and other Deposits Interest received Net casn ,n ow ,(oumOW rom investing actovi les C Cash flow from financing activit ies Long term loans taken Long term loan repaid Short term loans borrowed/(repaid) Interest paid Dividend Paid Payment of Lease liability Other financing costs (A) tBj Ne casn In ow DUUlOW rom Inanclng act,vl les C Net increase /ldecrease) in cash and cash equivalents (A+B+C) Cash and cash equivalents at the beginning of the financial year Exchange difference on translation of foreign currency cash and cash equivalents Cash and cash equivalents at the end of the yea ... •• Comprises of Balances with banks in current accountS# Balance in current account with repatriation restrictions Balances with banks in deposits account with original maturity of less than three months @ Total # Balances with banks in current accounts unavailable for use Unspent CSR money Unpaid dividend Total @ Balances with banks in deposits account with original maturity of less than three months unavailabe for use Unutilized Govt subsidy fund of Male service Total 55,601 82,245 50,528 95,120 7,787 18,629 240 2,643 5,310 1 64 5,140 1,333 (3,076) (4,679 ) (15,400) (9,268) (280) (1) (453) (853) (3,341) - (2) (31) - (54) (2,772) 13,927 (40,338) (68,148) 3,969 (1 ,869) 3,306 (54,858) 4,804 7,798 68,117 84,905 4,535 89 72,652 84,994 (1,26,959) (29,186) 5,385 - 3,076 4,679 453 853 (3,000) 2,536 (17,578) (66) (92) 375 48 32,538 6,164 172 49 14,082 6,284 (68,408) (31 ,779) 77,600 - (21,288) (73,992) - (26,885) (5,723) (12,670) (2,321) (5,481) (6,140) (917) (1,537) 44,191 (1,23,545) 48,435 (70,330) 13,817 84,142 242 5 62,494 13,817 30,750 3,882 - - 31,744 9,935 62,494 13,817 30 September 2025 31 March 2025 916 363 29,794 30 30,710 393 30 September 2025 31 March 2025 100 1,226 100 1,226
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3. The above standalone financial results were reviewed and recommended by the Audit Committee and approved by the Board of Directors of the Company at their respective meetings held on 07.11.2025. 4. The Joint Statutory Auditors of the Company have carried out the limited review of the standalone financial results for the quarter and half year ended 30.09.2025, pursuant to the requirements of Regulation 33 ofthe SEBI (LODR) Regulations, 2015 (as amended from time to time) and have issued an unmodified review report. 5. The standalone financial results of the Company have been prepared in accordance with the recognition and measurement principles laid down in the Indian Accounting Standards (Ind AS) as prescribed under Section 133 of the Companies Act 2013, read with Rule 3 of the Companies (Indian Accounting Standards) Rules, 2015 (as amended from time to time) and other accounting principles generally accepted in India. 6. Segment Results: a. Segment definitions: Liner segment includes break-bulk, container transport and vessels (passenger vessels and research vessels) managed on behalf of other organisations. Bulk Carriers include dry bulk carriers. Tankers segment includes crude and product carriers, gas carriers. T&OS segment includes company owned offshore vessels and offshore vessels managed on behalf of other organisations and income from technical consultancy services. Unallocable items including interest expense to the extent unallocable and interest income are disclosed separately. b. Agent Advances are allocated to segments in the ratio of payable to the agents. 7. a) The Company has the practice of seeking confirmations of balances from all the parties in respect of the Trade Receivables, Trade Payables and Deposits. While the reconciliation is an on-going process, the management does not expect any material difference affecting the financial results due to the same. b) Reconciliation of agent/vendor/customer balances is an ongoing process. Management is of the view that effect of changes in the balances on account of above reconciliation and subsequent impact of foreign exchange gain / loss will not be material.
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8. The Company has outstanding receivables in respect of on going income tax litigation which is shown as tax asset in the balance sheet. The Company is in the process of reconciling these outstanding receivables with corresponding assessment orders, orders giving effect (OGEs), and other relevant documentation. Based on its current assessment, the Company does not expect any material impact on its financial results arising from these matters. 9. The proposed strategic disinvestment of SCI is being handled by Department of Investment and Public Asset Management (DIPAM) with the engagement ofTransaction Advisor. In this regard, Preliminary Information Memorandum (PIM) for inviting expression of interest was released on 22.12.2020. The Virtual Data Room is open and is being managed by the Transaction Advisor for the process of due diligence by the Qualified Interested Parties. 10. Pursuant to approval of demerger scheme by MCA vide its order dated 22.02.2023, 192 non-core assets were transferred from the Company (Demerged Company) to Shipping Corporation of India land and Assets Limited (Resulting Company) (hereinafter referred to as SCILAL) w.e.f. 01 April 2021 and lease back of the same to the company has been treated as short term lease, pending execution of final agreement and disinvestment process as detailed in note no. 9. 11. The Shareholders of the Company approved the dividend of Rs.6.59 per equity share (face value RS.lO/- each) at the 75th Annual General Meeting held on 19.09.2025 and the same has been subsequently paid. 12. The Board of Directors of the company have declared interim dividend of Rs.3 per share. The outgo on this account will be approximately Rs.139.74 crores. 13. During the quarter ended 30th September 2025, the company sold Vessel Maharshi Parshuram DWT 51785. 14. During the quarter ended 30th September 2025, the Company took delivery of 2 Very Large Gas Carrier (VLGC) vessels Viz. Sahyadri DWT 54526 built in 2009 and Shivalik DWT 54534 built in 2008. 15. Considering the volatility of the shipping business and the evaluation mechanism for Performance Related Pay (PRP), as per past practice, provision for such expenses is made in the last quarter of the financial year after taking into account the PRP related parameters and the annual audited financial statements.
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16. The figures of the previous year/ period have been regrouped or rearranged wherever necessary / practicable to conform to current year / period's presentation . Place: Mumbai Date: 07.11.2025 For The Shipping Corporation of India Limited ~r:r--r-Capt. B.K. Tyagi Chairman & Managing Director DIN - 08966904
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Mis . D. R. Mohnot & Co Chartered Accountants BO; 606, Janki Estate 29, Shah Industrial Estate Off Veera Desai Road, Andheri (East) Mumbai 400 053 Mis. PSD & Associates Chartered Accountants BO : B-13, Jesal Mahal CHS, Jesal Park, Near St. Francis School, Bhayandar (East), Mumba i-401105 Independent Auditor's Limite d Review Report on the Unaudited Consolidated Financial Results of The Shipping Corporation of India Limite d for the quarter and six months ended 30.09.2025, pursuant to t he Regulation 33 and Regulation 52 of th e SEBI (Listi ng Obligations and Disclosure Requirements) Regulatio ns, 2015, as amended To The Board of Director s The Shippi ng Corporation of India Limited 1. We have reviewed the accompanying Statement of Unaudited Consolidated Financial Results of The Shipping Corporation of India Limited (the "Holding Company") and its subsidiaries (the Holding Company and its subsidiaries together referred to as the "Group"), and its share of the net profit after tax and total comprehensive income of its joint ventures for the quarter and six months ended 30.09.2025 attached herewith (the "Statement" ), being submitted by the Holding Company pursuant to the requirements of Regulation 33 and Regulation 52 of the SEBI (Listing Obligations and Disclosure Requirements ) Regulations, 2015 ("the Regulation") as amended. 2. This Statement, wh ich is the responsibility of the Holding Company's Management and approved by the Holding Company's Board of Directors, has been prepared in accordance wit h the recognition and measurement principles laid down in the Indian Accounting Standards "Interim Financial Reporting" ("Ind As 34") prescribed under section 133 of the Companies Act, 2013 (the "Act") read with relevant rules issued thereunder and other accounting principles generally accepted in India. Our responsibility is to issue a report on the Statement based on our review . 3. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410, "Review of Interim Financial Information Performed by the Independent Auditor of the Entity", issued by the Institute of Chartered Accountants of India (ICAI) and also considering the requirements of Standards on Auditing (SA 600) on "using the work of another auditor". This standard requires that we plan and perform the review to obtain moderate assurance as to whether the Statement is free from material misstatement. A review of interim financial information consists of making inqu iries, primar ily of persons responsible for financials and accounting matters, and applying analytical and other review procedures . A review is substantially less in scope than an audit conducted in accordance with standards on auditing and consequently does not enables us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion. We also performed procedures in accordance with the SEBI Circular No. CIR/CFD/CMD1/44/20 19 dated 29.03.2019 under Regulation 33(8) of the Regulations, as amended, to the extent applicable. 4. The Statement includes the results of the following entities : (A) The Shippin g Corporation of India Limited ("the Holding Company") (B) Subsidia ry: i. Inland and Coastal Shipping Ltd . (ICSL) ii. SCI Bharat IFSC Limited. (e) Joint Ventu res: i. India LNG Transport Co. No.1 Ltd. (ILT 1) ii. India LNG Transport Co. No.2 Ltd. (ILT 2) iii. India LNG Transport Co. No.3 Ltd. (ILT 3) iv. India LNG Transport Co. No.4 Pvt. Ltd. (ILT 4) Page 1 of 3 10
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Mis. D. R. Mohnot & Co Chartered Accountants BO; 606, Janki Estate 29, Shah Industrial Estate Off Veera Desai Road, Andheri (East) Mumbai 400 053 Mis. PSD & Associates Chartered Accountants BO: B-13, Jesal Mahal CHS, Jesal Park, Near St. Francis School, Bhayandar (East), Mumbai-401105 5. Based on our review conducted and procedure performed as stated in paragraph 3 above, and based on the consideration of the review reports of other auditors referred to in paragraph 7 below, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with recognition and measurement principles laid down in the Indian Accounting Standards specified under Section 133 of the Companies Act, as amended, read with relevant rules issued there under and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of Regulation, as amended, including the manner in which it is to be disclosed, or that it contains any material misstatement. 6. We draw attention to the following matters forming part of the notes to the Statement: i. (a) Note no. 7(a) regarding the practice of seeking balance confirmations in respect of Trade Receivables, Trade Payables and Deposits, the process of reconciliation and the management's assertion that it would not have any material difference affecting the financial results . (b) Note no 7(b) regarding reconciliation of agent/vendor/customer balances and its consequential impact on foreign exchange gain/loss including the accuracy of the exchange gain / loss accounted on revaluation of balances. As stated in the referred note by management, the impact of the same would not be material. (c) Note NO.8 regarding reconciliation of net tax assets as per books of accounts and corresponding tax returns and assessment orders. As stated in the said note the impact of the same would not be material. ii. Note no.9 regarding selection of the Company for Strategic Disinvestment process by the Government of India. The disinvestment process and the procedural aspects in relation to the same are in progress. iii. Note No. 10 regarding MCA'a approval in FY 22-23 for demerger between The Shipping Corporation of India Limited ("Demerged Company") and The Shipping corporation of India Limited Land and Assets Limited ("Resulting Company") and consequently, transfer of non-core assets to SCI LAL and leaseback of the same to SCI and management's assessment of treating the same as short term lease pending execution of formal lease agreement and disinvestment process. Our conclusion on the Statement is not modified in respect of above matters. 7. a) We did not review the financial results of one subsidiary (Inland and Coastal Shipping Limited) included in the unaudited consolidated financial results, whose interim financial result reflect total revenue of Rs.36.57 lakhs and Rs.72.55 lakhs for the quarter and six months ended 30.09.2025 respectively, total net loss after tax of Rs.16.64 lakhs and Rs.38.35 lakhs for the quarter and six months ended 30.09.2025 respectively, total comprehensive income of Rs.(16.64) lakhs and Rs. (38.35) lakhs for the quarter and six months ended 30.09.2025 respectively, as considered in the unaudited consolidated financial results have been reviewed by othe r auditors whose report has been furnis hed to us by the Holding Company's Management and our conclusion on the Statement, in so far as it relates to the amounts and disclosures included in respect of this subsidiary, is based solely on the report of the other auditors and the procedures performed by us as stated in paragraph 3 above. Page 2 of 3 \ I
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Mis. D. R. Mohnot & Co Chartered Accountants BO; 606, Janki Estate 29, Shah Industrial Estate Off Veera Desai Road, Andheri (East) Mumbai 400 053 Mis. PSD & Associates Chartered Accountants BO: B-13, Jesal Mahal CHS, Jesal Park, Near St. Francis School, Bhayandar (East), Mumbai-401105 ended 30.09.2025, total comprehensive income of Rs.121.68 lakhs and Rs. 128.01 lakhs for the quarter and six months ended 30.09.2025, as considered in the unaudited consolidated financial results have been certified by the Holding Company's Management and our conclusion on the Statement, in so far as it relates to the amounts and disclosures included in respect of this subsidiary, is based solely on management certified results. c) The unaudited consolidated financial results also include the Group's share of net profit after tax of Rs.873 lakhs and RS.1556 lakhs for the quarter and six months ended 30.09.2025 respectively and total other comprehensive income of RS.1731 lakhs and RS.(2866) lakhs for the quarter and six months ended 30.09.2025 respectively as considered in the unaudited consolidated financial results, in respect of three joint ventures viz. ILT 1, 2 & 3, whose interim financial results have not been reviewed by us. These interim financial results have been reviewed by other auditors, whose reports have been furnished to us by the Holding Company's Management and our conclusion on the Statement, in so far as it relates to the amounts and disclosures included in respect of these joint ventures, is based solely on the report of the other auditors and the procedures performed by us as stated in paragraph 3 above. d) The unaudited consolidated financial results also include the Group's share of net profit after tax of Rs. 465 lakhs and Rs.892 lakhs for the quarter and six months ended 30.09.2025 respectively and total other comprehensive income of Rs. 643 lakhs and RS.2799 lakhs for the quarter and six months ended 30.09.2025 respectively as considered in the unaudited consolidated financial results, in respect of joint venture ILT-4, whose interim financial results have not been reviewed by us. These interim financial results have been furnished to us by the Holding Company's Management and our conclusion on the Statement, in so far as it relates to the amounts and disclosures included in respect of this joint ventures, is based solely on such unaudited financial results. In our opinion and according to the information and explanation given to us by the Board of Directors, this unaudited financial result is not material to the group. e) The Consolidated financial results of the company include comparative figures for the quarter and six months ended 30.09.2024, which have been reviewed by us. Whose report dated 8th November, 2024, expressed an unmodified conclusion on those consolidated financial results. Our conclusion on the Statement is not modified in respect of the above matters . For Mis. D. R. Mohnot & Co Chartered Accountants FRN : 001388C Place: Mumbai Date: 07.11.2025 Page 3 of 3 12-- Partner M. No. 430629 UDIN: 2 5'43062.. <} 8MJ<.Tt3P3 2...3 L.
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Sr No. 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 THE SHIPPING CORPORATION OF INDIA LTD. CIN: L63030MH1950GOI008033 Regd off: Shipping House, 245, Madame Cama Road, Mumbai ·400021 Web site: www.shlplndia .com Phone No : 022 - 22026666 STATEMENT OF UNAUDITED CONSOLIDATED FINANCIAL RESULTS FOR THE FOR THE QUARTER AND HALF YEAR ENDED SEPTEMBER 30, 2025 (f in lakhs ) CONSOLIDATED Particulars QUARTER ENDED HALF YEAR ENDED YEAR ENDED 30.09.2025 30.06.2025 30.09.2024 30.09.2025 30.09.2024 31 .03.2025 (UNAUDITED) (UNAUDITED) (UNAUDITED) (UNAUDITED) (UNAUDITED) (AUDITED) Revenue from operations 1,33,887 1,31,604 1,45,076 2,65,491 2,96,503 5,60,583 Other Income 9,727 14,635 4,047 24,362 6,464 19,453 Total Income (1+2) 1,43,614 1,46,239 1,49,123 2,89,853 3,04,967 5,80,036 Expenses Cost of services rendered 68,297 66,966 77,602 1,37,263 1,63,307 3,10,541 Employee benefits expense 13,222 12,708 12,266 25,930 24,208 56,649 Finance costs 4,736 3,052 4,320 7,790 6,360 16,633 Depreciation and amortisation expense 25,573 24,965 23,376 50,536 45,346 95,132 Other expenses 11,721 1,031 1,743 12,752 4,760 16,765 Total expenses (4) 1,23,551 1,10,722 1,19,511 2,34,273 2,45,983 4,97,920 Profitl(Loss) before exceptional items , share of net profits of investments accounted for using equity method and tax (3-4) 20,063 35,517 29,612 55,580 58,984 82,116 Share of net profit/(Ioss) of associates and joint ventures accounted for using equity method 1,336 1,110 230 2,448 688 3,063 Profitl(Loss) before exceptional items and tax (5+6) 21,401 36,627 29,842 58,028 59,672 85,179 Exceptional items - - - - Profitl(Loss) before tax (7-8) 21,401 36,627 29,842 58,028 59,672 85,179 Tax expense Current tax 2,480 1,343 696 3,823 1,376 3,319 Tax pertaining to earlier years 3 (133) 2 (130) 4 (2,441) Deferred tax 2 - - 2 - (57) Total tax expense (10) 2,485 1,210 698 3,695 1,380 821 Profitl(Loss) for the period (9-10) 18,916 35,417 29,144 54,333 58,292 84,358 Other comprehensive income Items that will not be reclassified to profit or loss : Remeasurements gain/(loss) of defined benefit plans 417 259 (578) 676 (498) (1,056) Foreign Currency translation gain/loss of subsidiary 116 - - 116 - 67 Share of OCI of associates and joint ventures, net of tax 1,036 (3,551) (1,325) (2,515) (3,352) (3,816) Other comprehensive income for the period, net of tax (12) 1,569 (3,292 (1,903) (1,723) (3,850 (4,805) Total comprehensive income tor the period (11+1Z) 20,485 32,125 27,241 52,610 54,442 79,553 Paid Up Equity Share Capital (Face value RS.1 0 each) 46,580 46,580 46,580 46,580 46,580 46,560 Other Equity excluding Revaluation Reserves 7,84,595 Earnings per equity share (not annualised) (1) Basic earnings per share (i n~ ) 4,06 7.60 6.26 11.66 12.51 18.11 (2) Diluted earnings per share (in ~) 4.06 7.60 6.26 11.66 12.51 18.11 13
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Segment-Wise Revenue, Results , Assets and Liabilities (f in lakhs) CONSOLIDATED Sr QUARTER ENDED HALF YEAR ENDED YEAR ENDED No. PARTICULARS 30.09.2025 30.06.2025 30.09.2024 30.09.2025 30.09.2024 31.03.2025 (UNAUDITED) (UNAUDITED) (UNAUDITED) (UNAUDITED) (UNAUDITED) (AUDITED) 1 Segment Revenue i. Liner 21.292 20,087 29,828 41,379 51 ,654 1,03 ,623 ii. Bulk Carrier 20,089 13,264 21 ,384 33 ,353 46,454 71,129 iii. Tanker 85,758 91 ,328 88,479 1,77 ,086 1,86,504 3,60,960 iv. Technical & Offshore 7,379 7 ,233 7,012 14,612 14,743 27,619 Total 1,34,518 1,31,912 1,46,703 2,66,430 2,99,355 5,63,331 Unallocated Revenue 5,108 2,915 530 8,023 2,028 7,437 Total 1,39,626 1,34,827 1,47, 233 2,74,453 3,01 ,383 5,70 ,768 2 Segment Results Profitl(Loss) before Tax and Interest i. Liner 1,104 4,782 8,386 5,886 10,003 16,622 ii. Bulk Carrier 211 (4,801 ) 2,014 (4,590) 7,188 (2,224) iii. Tanker 18,006 24,474 18,851 42,480 40,666 68,014 iv. Technical & Offshore 188 (157 ) 1,994 31 3,912 3,248 Total 19,509 24 ,298 31,245 43,807 61 ,769 85,660 Add: Unallocated income (Net of expenditure) 2,642 3,969 1,027 6,61 1 2,679 8,884 Profit before Interest and Tax 22,151 28 ,267 32,272 50 ,418 64,448 94,544 Less: Interest Expenses i. Liner 401 432 192 833 212 1,202 ii. Bulk Carrier 511 376 545 887 1,242 2,386 iii. Tanker 868 245 388 1,113 800 1,563 iv. Technical & Offshore 139 117 196 256 404 779 Total Segment Interest Expense 1.919 1,170 1,321 3,089 2,658 5,930 Unallocated Interest expense 2,819 1,882 2,999 4,701 5,702 12,703 Total Interest Expense 4,738 3,052 4,320 7,790 8,360 18,633 Add: Interest Income 3,988 11.412 1,890 15,400 3,584 9,268 Profitl(Loss) before Tax 21,401 36,627 29,842 58,028 59,672 85,179 3 Segment Assets i. Liner 1,05,718 1,00 ,674 1,49,996 1,05 ,718 1,49,996 1,22,252 ii. Bulk Carrier 1,57,772 1,55 ,892 1,77,750 1,57 ,772 1,77 ,750 1,60 ,632 iii. Tanker 5,66 ,713 4,69,406 4,97,765 5,66,713 4,97 ,765 4,89,768 iv. Technical & Offshore 94,470 91,354 1,00,498 94,470 1,00,498 88 ,686 Total Segment Assets 9,24,673 8,17 ,326 9,26,00 9 9,24,673 9,26 ,009 8,61,338 Unallocable Assets 3,66,172 3,62,069 2,43,530 3.66 ,172 2,43,530 3,08,768 Total Assets 12,90,845 11 ,79,395 11,69,539 12,90, 845 11 ,69,539 11,70 ,106 4 Segment Liabilities i. Liner 80,618 92,396 89,135 80,618 89 ,135 75,010 ii. Bulk Carrier 52,888 54,692 62,286 52,888 62,286 52 ,838 iii. Tanker 1,14,268 14,204 56,359 1,14,268 56,359 44,165 iv. Technical & Offshore 22,329 21 ,113 18,414 22,329 18,414 20,531 Total Segment Liabilities 2,70,103 1,82,405 2,26,194 2,70 ,103 2,26,194 1,92 ,544 Unallocable Liabilities 1,67 ,653 1,33,690 1.37,282 1,67,653 1,37,282 1 ,46 ,387 Total Liabilities 4,37,756 3,16,095 3,63,476 4,37,756 3,63,476 3,38,931 t4
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THE SHIPPING CORPORATION OF INDIA LTD. NOTES TO FINANCIAL RESULTS: (1) STATEMENT OF UNAUDITED CONSOLIDATED ASSETS AND LIABILITIES AS AT SEPTEMBER 30,2025 (f in lakh s) As at As at Particulars 30 September 2025 31 March 2025 (Unaudited) (Audited) ASSETS Non-current assets Property. plant and equipment 7,21,807 6,43,335 Capital work-in-progress 2.318 435 Right-of-use asset 22,283 27.749 Other intangible assets 40 54 Investments accounted for using the equity method 64,417 64,484 Financial assets i. Investments 536 536 ii. Loans 23,615 23,248 iii. Other financial assets 1,847 1,223 Deferred tax assets (net) 23 24 Income Tax assets (net) 25,458 33,675 Other non-current assets 18,611 17,858 Total non-current assets 8,80,955 8,12,621 Curre nt assets Inventories 15.316 19,276 Financial assets i. Investments 15,076 17,610 ii. Trade receivables 1,21,672 1,19,287 iii. Cash and cash equivalents 62,647 13,964 iv. Bank balances other than (iii) above 11 ,193 44,164 v. Loans 165 165 vi. Other financial assets 1,68.029 1,24,551 Other current assets 15,792 18,468 Total current assets 4,09,890 3,57,485 Assets classified as held for sale - - Total assets 12,90,845 11 ,70,106 EQUITY AND LIABILIT IES Equity Equity share capital 46,580 46,580 Other Equity 8,06,509 7,84,595 Tota l eq uity 8,53,089 8,31 ,175 LIABILITIES Non-current liabilities Financialliabililies i. Borrowings 2,12,048 1,50.903 ii. Lease Liabilities 12,927 18,239 iii. Other financial liabilities 168 168 Provisions 6,012 6,626 Deferred tax liabilities (net) 76 76 Other non-current liabilities 8 8 Total non-curre nt liabilitie s 2,31,239 1,76,020 Current liabilities Financial liabilities i. Borrowings 44,168 42.534 ii. Lease Liabilities 11.994 11 .173 iii. Trade payables (a) total outstanding dues of micro enterprises and small enterprises; and 5.288 4,487 (b) total outstanding dues of creditors other than micro enterprises and small 80,936 76,287 enterprises iv. Other financial liabilities 50,870 14,846 Other current liabilities 12,575 12.692 Provisions 686 892 Total current liabilit ies 2,06,517 1,62,911 Total liabilities 4,37,756 3,38,931 Total equity an d liabilities 12,90,845 11,70,106
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THE SHIPPING CORPORATION OF INDIA LTD. (2) UNAUDITED CONSOLIDATED CASH FLOW STATEMENT FOR THE HALF YEAR ENDED SEPTEMBER 30,2025 Particulars A Cash Flow from ope rating activit ies ProfitJ(Loss) before Income tax Adjustments for Add: Depreciation and amortisation expenses Finance costs Bad debts and irrecoverable balances written off Provision for doubtful debts Write off of Fixed Assets Foreign Currency Fluctuations Less: Dividend received Dividend received from Joint Ventures Interest received Share of profit of associates and joint ventures Excess Provisions written back Profit on sale of investment Surplus on sale of fixed assets Gain on fair valuation of Mutual Fund Change in non-current investment due to fair valuation Change in operating assets and liabilities (Increase)/Decrease in Trade Receivables (Increase)/Decrease in Other Current I Non Current Assets (Increase)/Decrease in inventories Increase/(Decrease) in Trade Payables Increase/(Decrease ) in Other Current I Non Current Liabilities Cash generated from operations Income taxes paid Net caSh ,nflOW I (OUtflOW) tram opera ting act ivit ies B Cash flow from investing activities : C Purchase of property, plant and equipment! intangible assets Sale proceeds of property, plant and equipment Dividend received from Mutual Fund Dividend Received from Joint Ventures Prcftt ,m-sale of investment Purchase/sale of investments (Mutual Fund) Loan remmited I Recovery to/from employees and Joint venture Other Deposits with banks Advances and other Deposits Interest received Net cas n inflOW I (OUUlOW) rom Invesllng act lvi tes Cash flow from financing activities Long term loans taken Long term loans repaid Short term loans borrowed/(repaid) I nterest paid Dividend Paid Payment of Lease liability Other financing costs Net cash Inflow I (OUtflOW) tram finanCing actiVIties Net incre ase/(deerease) in cas h and cash equ ivalents Cash and cash equivalents at the beginning of the financial year Exchange difference on translation of foreign currency cash and cash equivalents Cash and cash equivalents at the end of the year" ** Comprises of Balances with banks in current accounls# Balance in current accounl with repatriation restrictions Balances with banks in deposits account with original maturity of less than three months @ oa #Batances with banks in current accounts unavailable for use Unspent CSR money Unpaid dividend Total (A) (B) (C) (A+B+C) @ Balances with banks in deposits account w ith original maturity of less than three months unavailabe for use .. ed Govt subsidy fund of Male service Half Year ended 30 September 2025 (Unaudited) 58,028 50,538 7,790 2,643 1 5,244 - (3,076) (15,479) (2,448) (280) (453) (3,341) (2) (2,800) (40,465) 3,960 3,500 4,811 68,171 4.531 72,702 (1,26,959) 5,385 - 3.076 453 2,536 375 32,394 172 14.126 (68,442) 77.600 (21 ,288) (5,723) (5,488) (920) 44,181 48,441 13,964 242 62,647 30,903 31,744 62,647 30Se tember 2025 916 29,794 30,710 30 September 2025 100 100 (' in lakhs) Year ended 31 March 2025 (Audited) 85,179 95,132 18,633 240 5,310 64 1,398 (4,679) (9,335) (3,063) (1 ) (853) - (31 ) (54) 13,862 (68,184) (1 .865 ) (54,795) 7,932 84,890 61 84,951 (29,192) 4,679 853 (17,578) 48 3,200 49 6,344 (31,597) - (73,992) (26,885) (12,670) (2,321) (6,148) (1.541) (1 ,23,557) (70,203) 84,162 5 13,964 4,029 9,935 13,964 31 March 2025 363 30 393 31 March 2025 1.226 1,226
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3. The above consolidated financial results have been reviewed and recommended by the Audit Committee and approved by the Board of Directors of the Company at their respective meetings held on 07.11.2025. 4. The Joint Statutory Auditors of the Company have carried out the limited review of the consolidated financial results for the quarter and half year ended 30.09.2025, pursuant to the requirements of Regulation 33 of the SEBI (LODR) Regulations, 2015 (as amended from time to time) and have issued an unmodified review report. 5. The consolidated financial results relate to The Shipping Corporation of India Ltd. (lithe Company") and its following Subsidiaries and Joint Ventures (together referred to as the "Group"), which have been considered for the purpose of consolidation in accordance with the Ind AS 110 - Consolidated Financial Statements: Subsidiaries - Inland & Coastal Shipping Ltd. (ICSL) SCI Bharat IFSC Limited Joint Ventures - India LNG Transport Company (No.1) Ltd. (ILT 1) India LNG Transport Company (No.2) Ltd. (lLT 2) India LNG Transport Company (No.3) Ltd. (ILT 3) India LNG Transport Company (No.4) Pvt. Ltd. (lLT 4) Their financial results for the quarter and half year ended 30.09.2025 for above JVs and Subsidiaries have been reviewed by their respective auditors under their respective laws except for SCI Bharat IFSC Limited and ILT 4 wh ich has been certified by SCI for consolidation purpose. Further, Joint Venture financial statements are converged to IND AS for consolidation purpose by an independent firm. The consolidated financial results of the Group have been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standards ("lnd AS") as prescribed under Section 133 of the Companies Act 2013, read with Rule 3 of the Companies (Indian Accounting Standards) Rules, 2015 (as amended from time to time) and other accounting principles generally accepted in India. 6. Segment Results: a. Segment definitions: Liner segment includes break-bulk, container transport and vessels (passenger vessels and research vessels) managed on behalf of other organisations. Bulk Carriers include dry bulk carriers. Tankers segment includes crude and product carriers, gas carriers. T&OS segment includes company owned offshore vessels and offshore vessels managed on behalf of other organisations and income from technical consultancy services. Unallocable items including
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interest expense to the extent unallocable and interest income are disclosed separately. b. Agent Advances are allocated to segments in the ratio of payable to the agents. 7. a) The Company has the practice of seeking confirmations of balances from all the parties in respect of the Trade Receivables, Trade Payables and Deposits. While the reconciliation is an on-going process, the management does not expect any material difference affecting the financial results due to the same. b) Reconciliation of agent/vendor/customer balances is an ongoing process. Management is of the view that effect of changes in the balances on account of above reconciliation and subsequent impact of foreign exchange gain / loss will not be material. 8. The Company has outstanding receivables in respect of on going income tax litigation which is shown as tax asset in the balance sheet. The Company is in the process of reconciling these outsta nding receivables with corresponding assessment orders, orders giving effect (OGEs), and other relevant documentation. Based on its current assessment, the Company does not expect any material impact on its financial results arising from these matters. 9. The proposed strategic disinvestment of SCI is being handled by Department of Investment and Public Asset ManagE>ment (DIPAM) with the engagement of Transaction Advisor. In this regard, Preliminary Information Memorandum (PIM) for inviting expression of interest was released on 22.12.2020. The Virtual Data Room is open and is being managed by the Transaction Advisor for the process of due diligence by the Qualified Interested Parties. 10. Pursuant to approval of demerger scheme by MCA vide its order dated 22.02.2023, 192 non-core assets were transferred from the Company (Demerged Company) to Shipping Corporation of India Land and Assets Limited (Resulting Company) (hereinafter referred to as SCILAL) w.e.f. 01 April 2021 and lease back of the same to the company has been treated as short term lease, pending execution of final agreement and disinvestment process as detailed in note no. 9. 11. The Shareholders of the Company approved the dividend of Rs.6.59 per equity share (face value Rs.10/- each) at the 75th Annual General Meeting held on 19.09.2025 and the same has been subsequently paid. 12. The Board of Directors ofthe company have declared interim dividend of Rs.3 per share. The outgo on this account will be approximately Rs.139.74 Crores
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14. During the quarter ended 30th September 2025, the Company took delivery of two Very Large Gas Carrier (VLGC) vessels Viz. Sahyadri DWT-54526 built in 2009 and Shivalik DWT- 54534 built in 2008. 15. Considering the volatility of the shipping business and the evaluat ion mechanism for Performance Related Pay (PRP), as per past practice, provision for such expenses is made in the last quarter of the financial year after taking into account the PRP related parameters and the annual audited financial statements . 16. The figures of the previous year/ period have been regrouped or rearranged wherever necessary / practicable to conform to current year / period's presentation. Place: Mumbai Date: 07.11.2025 For The Shipping Corporation of India Limited Capt. B.K. Tyagi ~~--::r-;t - Chairnlan'& Managing 'director DIN - 08966904