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SCI Receives Revised GST Demand Order of ₹60.07 Crore, Down from ₹160.37 Crore
The Shipping Corporation of India (SCI) has received a revised tax demand order from the Joint Commissioner of State Tax, Mumbai, amounting to ₹60.07 crore. This represents a significant reduction from the original demand of ₹160.37 crore previously contested by the company. The demand includes a tax component of ₹29.09 crore plus applicable interest and penalties, primarily due to Input Tax Credit (ITC) mismatches with GSTR-2A. SCI is currently evaluating the order and intends to explore further legal options to contest the remaining demand.
Key Highlights
Revised tax demand of ₹60,06,97,357 (approx ₹60.07 Cr) issued on March 13, 2026.
Original demand of ₹1,60,37,35,973 (approx ₹160.37 Cr) reduced by over ₹100 crore.
Tax component of the revised demand stands at ₹29,08,88,754 plus interest and penalties.
The dispute is centered on the mismatch of Input Tax Credit (ITC) with GSTR-2A filings.
Company believes there is strong merit in the case and is preparing for further appeals.
💼 Action for Investors
Investors should view the reduction in the tax demand as a partial legal victory, though the remaining ₹60.07 crore liability remains a factor to watch. Monitor for updates on further appeals and any potential provisions made in upcoming financial statements.
SCILAL Appoints Nitin Khamesra as Director (Finance) with Additional Charge
Shipping Corporation of India Land and Assets Limited (SCILAL) has appointed Mr. Nitin Khamesra as Director (Finance) with additional charge effective from March 11, 2026, until December 31, 2026. Mr. Khamesra currently serves as the Director (Finance) of the parent company, Shipping Corporation of India (SCI), and brings over 28 years of experience in financial management and maritime logistics. Concurrently, Shri Som Raj has ceased to hold the office of Director (Operations) effective February 23, 2026. This move aligns the financial leadership of the demerged entity with its parent organization.
Key Highlights
Mr. Nitin Khamesra appointed as Director (Finance) with additional charge from March 11, 2026, to December 31, 2026.
The appointee has over 28 years of experience in energy and shipping sectors, including roles at IOCL and SCI.
Shri Som Raj ceases to be Director (Operations) effective February 23, 2026, following post re-designation.
Appointment is subject to final approval from the Appointments Committee of the Cabinet (ACC).
💼 Action for Investors
This is a routine management alignment between the parent company and its demerged asset-holding arm. Investors should view this as a move to ensure stable financial oversight during the company's growth phase.
SCILAL Fined ₹9.77 Lakh by NSE and BSE for Board Composition Non-Compliance
Shipping Corporation of India Land and Assets Limited (SCILAL) has been fined ₹9,77,040 each by the NSE and BSE for non-compliance with SEBI (LODR) Regulations during Q2 FY 2025-26. The violations pertain to the failure to appoint a woman director and improper composition of the Audit and Nomination & Remuneration Committees. As a Public Sector Undertaking (PSU), the company clarified that director appointments are managed by the Ministry of Ports, Shipping and Waterways (MoPSW). The company has requested a waiver of the fines and is awaiting Ministry action for the requisite appointments.
Key Highlights
Total fine of ₹9,77,040 (including 18% GST) levied by both NSE and BSE for the period July 1, 2025, to September 30, 2025.
Non-compliance identified under SEBI Regulations 17(1), 18(1), and 19 regarding board and committee structures.
Specific lapses include the absence of a woman director and insufficient independent directors on the board.
Company has formally requested the Ministry (MoPSW) to appoint directors via letters dated Dec 2, 2025, and Jan 23, 2026.
A waiver request for the levied fines has been submitted to the stock exchanges.
💼 Action for Investors
Investors should monitor the timeline for the Ministry's appointment of independent directors to ensure the company returns to regulatory compliance. While the fine amount is not financially material, persistent non-compliance can lead to stricter exchange actions like shifting the stock to the 'Trade for Trade' or 'Z' category.
SCI Appoints Nitin Khamesra as Director (Finance) Effective February 23, 2026
Shipping Corporation of India (SCI) has appointed Mr. Nitin Khamesra as Director (Finance) effective February 23, 2026. Mr. Khamesra is a highly qualified professional with over 28 years of experience, including a significant tenure as Chief General Manager at Indian Oil Corporation Limited (IOCL). He replaces Capt. Som Raj, who was holding the additional charge of the finance portfolio. This appointment fills a critical leadership gap with an expert in maritime logistics and financial management.
Key Highlights
Mr. Nitin Khamesra appointed as Director (Finance) effective Feb 23, 2026, following ACC approval.
Appointee brings over 28 years of experience in financial management, maritime logistics, and energy trade.
Previously served as Chief General Manager at IOCL and was a 4th Rank holder Chartered Accountant.
Capt. Som Raj ceases to hold the additional charge of Director (Finance) with this regular appointment.
Experience includes managing complex financial portfolios and implementing SAP-based automation.
💼 Action for Investors
This is a positive development as it brings specialized financial leadership to the board; investors should monitor for improvements in financial reporting and strategic capital allocation.
Borosil Scientific Q3FY26 Update: Targets 12-14% Revenue CAGR Amidst One-Time Exceptional Costs
Borosil Scientific Limited (BOROSCI) released its Q3 and 9M FY26 investor presentation, outlining a medium-term growth strategy targeting a 12-14% revenue CAGR. While standalone EBITDA showed growth, consolidated profitability was weighed down by lower sales in the Goel Scientific subsidiary and exceptional expenses totaling approximately ₹8.53 crore. These one-time costs included a ₹6.61 crore Voluntary Retirement Scheme (VRS) settlement and a ₹1.92 crore provision for new labor codes. The company continues to dominate the laboratory glassware market with a 33% share and is pivoting towards higher-margin lab equipment and process sciences.
Key Highlights
Targeting 12-14% Revenue CAGR by expanding LabQuest and Process Sciences verticals.
Recognized ₹8.53 crore in exceptional items related to VRS at the Ambad plant and new labor code provisions.
Process Systems segment impacted by a ₹3.75 crore revenue reversal in Q3FY26 and deferred high-value orders.
Maintains a 33% market share in the ₹490 crore Indian laboratory glassware market.
Pharmaceutical sector remains the largest customer base, contributing 58.27% of revenue.
💼 Action for Investors
Investors should monitor the recovery of the Process Systems segment and the stabilization of margins following the one-time restructuring costs. The company's ability to scale its high-margin equipment business will be the primary driver for future valuation re-rating.
Borosil Scientific Q3 FY26 PAT Surges 53% YoY to ₹10.21 Cr; Revenue Up 14%
Borosil Scientific Limited (BOROSCI) reported a strong performance for the quarter ended December 31, 2025, with revenue from operations growing 14.4% YoY to ₹107.12 crore. Net profit (PAT) saw a significant jump of 52.8% YoY to ₹10.21 crore, despite an exceptional charge of ₹1.92 crore related to new labour code provisions. The Scientific Laboratory segment remains the primary profit engine, while the Glassware segment, though still loss-making, showed improvement in its operating performance compared to the previous year. Overall, Profit Before Tax (before exceptional items) grew by 71.8% YoY, indicating strong operational leverage.
Key Highlights
Revenue from operations increased 14.4% YoY to ₹10,712.04 lakhs from ₹9,364.84 lakhs.
Net Profit (PAT) grew 52.8% YoY to ₹1,021.07 lakhs compared to ₹668.42 lakhs in the same quarter last year.
Scientific Laboratory segment revenue rose to ₹7,316.63 lakhs with a healthy segment profit of ₹2,192.64 lakhs.
Glassware segment reported a reduced loss of ₹309.05 lakhs versus a loss of ₹515.83 lakhs YoY.
Recognized an exceptional item of ₹191.51 lakhs during the quarter due to the impact of new Government Labour Codes.
💼 Action for Investors
Investors should take note of the robust growth in the core Scientific Laboratory segment which is driving overall profitability. Monitoring the Glassware segment's trajectory toward break-even is recommended as it remains the primary drag on consolidated margins.
Borosil Scientific Q3 FY26 Standalone Net Profit Rises 52.8% YoY to ₹10.21 Crore
Borosil Scientific Limited reported a robust standalone performance for the quarter ended December 31, 2025, with revenue from operations increasing 14.4% YoY to ₹107.12 crore. Net profit for the quarter surged by 52.8% YoY to ₹10.21 crore, up from ₹6.68 crore in the previous year's corresponding quarter. The results were achieved despite an exceptional expense of ₹1.92 crore related to the implementation of new Labour Codes. The Scientific segment continues to be the dominant revenue contributor, showing steady growth.
Key Highlights
Standalone Revenue from Operations grew 14.4% YoY to ₹10,712.04 lakhs.
Standalone Net Profit increased 52.8% YoY to ₹1,021.07 lakhs from ₹668.42 lakhs.
Scientific segment revenue rose to ₹7,316.63 lakhs, contributing approximately 68% of total revenue.
Exceptional charge of ₹191.51 lakhs recorded in Q3 due to the new unified framework of Labour Codes.
Basic and Diluted EPS improved significantly to ₹1.15 from ₹0.75 YoY.
💼 Action for Investors
The strong YoY growth in both top-line and bottom-line indicates healthy demand in the scientific equipment space. Investors should maintain a positive outlook while watching for further one-time costs related to labor reforms.
SCI Q3 Net Profit Jumps 175% to ₹180 Cr; Declares ₹3.50 Interim Dividend
Shipping Corporation of India (SCI) reported a robust performance for Q3 FY26, with standalone net profit surging 175% year-on-year to ₹180.06 crore. Revenue from operations grew by 23.6% to ₹1,611.22 crore, driven primarily by strong performance in the tanker and bulk carrier segments. The board has rewarded shareholders with a second interim dividend of ₹3.50 per share, fixing February 17, 2026, as the record date. The company also confirmed that the strategic disinvestment process by the Government of India is still in progress.
Key Highlights
Standalone Net Profit rose to ₹180.06 crore in Q3 FY26 from ₹65.47 crore in Q3 FY25.
Revenue from operations increased 23.6% YoY to ₹1,611.22 crore.
Declared a second interim dividend of ₹3.50 per equity share (35% of face value).
The Tanker segment contributed the majority of revenue at ₹1,096.91 crore for the quarter.
Basic Earnings Per Share (EPS) improved significantly to ₹3.87 from ₹1.41 YoY.
💼 Action for Investors
The strong earnings growth and healthy dividend payout are positive triggers for the stock; however, investors should remain focused on the progress of the government's strategic disinvestment.
SCI Q3 Net Profit Surges to ₹415 Cr; Declares ₹3.50 Interim Dividend
Shipping Corporation of India (SCI) reported a massive jump in standalone net profit to ₹414.97 crore for Q3 FY26, compared to ₹65.47 crore in the same quarter last year. Revenue from operations grew by 23.6% YoY to ₹1,611.22 crore, driven largely by the tanker and bulk carrier segments. The board declared a second interim dividend of ₹3.50 per share (35%) with a record date of February 17, 2026. The company also noted that the strategic disinvestment process by the Government of India remains ongoing.
Key Highlights
Standalone Net Profit rose significantly to ₹414.97 crore in Q3 FY26 from ₹65.47 crore in Q3 FY25
Revenue from operations increased to ₹1,611.22 crore, up from ₹1,302.97 crore YoY
Declared a second interim dividend of ₹3.50 per equity share (35% on face value of ₹10)
Tanker segment revenue contributed ₹1,096.91 crore, showing strong performance compared to ₹817.05 crore YoY
The record date for the dividend is fixed as February 17, 2026
💼 Action for Investors
Investors should note the exceptionally strong operational performance and the healthy interim dividend payout. The stock remains a key watch for developments regarding the government's strategic disinvestment process.
SCI Q3 Net Profit Surges to ₹180 Cr; Declares ₹3.50 Interim Dividend
Shipping Corporation of India (SCI) reported a massive turnaround in its Q3 FY26 results, with standalone net profit jumping to ₹180.06 crore from just ₹12.15 crore in the year-ago period. Revenue from operations grew 23.6% year-on-year to ₹1,611.22 crore, primarily driven by strong performance in the Tanker segment. The board has rewarded shareholders with a second interim dividend of ₹3.50 per share. Additionally, the company confirmed that the strategic disinvestment process by the Government of India is still in progress.
Key Highlights
Standalone Net Profit increased significantly to ₹180.06 crore in Q3 FY26 vs ₹12.15 crore in Q3 FY25.
Revenue from operations rose to ₹1,611.22 crore, a growth of 23.6% compared to the same quarter last year.
Declared a second interim dividend of ₹3.50 per equity share (35% of face value) for FY 2025-26.
The Tanker segment was the major profit contributor with a segment result of ₹402.03 crore.
The record date for the interim dividend is set for February 17, 2026.
💼 Action for Investors
Investors should view the strong earnings growth and healthy dividend payout positively. The ongoing strategic disinvestment remains a critical long-term trigger for the stock's valuation.
SCI Declares ₹3.50 Interim Dividend; Q3 Net Profit Surges 533% YoY to ₹415 Crore
Shipping Corporation of India (SCI) has declared a second interim dividend of ₹3.50 per share for FY 2025-26, fixing February 17, 2026, as the record date. The company reported an exceptional standalone net profit of ₹414.97 crore for Q3 FY26, a massive jump from ₹65.47 crore in the previous year's corresponding quarter. Revenue from operations grew 23.6% YoY to ₹1,611.22 crore, largely supported by the Tanker segment's strong performance. The company also confirmed that the strategic disinvestment process by the Government of India is still in progress.
Key Highlights
Declared a second interim dividend of ₹3.50 per equity share (35% of face value).
Standalone net profit for Q3 FY26 surged to ₹414.97 crore versus ₹65.47 crore YoY.
Revenue from operations increased to ₹1,611.22 crore from ₹1,302.97 crore in the same quarter last year.
Tanker segment contributed the bulk of profitability with a segment profit of ₹402.03 crore.
Record date for dividend eligibility is set for February 17, 2026, with payment within 30 days.
💼 Action for Investors
Investors should view the strong earnings growth and dividend payout positively; however, the primary long-term trigger remains the progress of the government's strategic disinvestment.
SCI Q3 Net Profit Surges 508% YoY to ₹393 Cr; Declares ₹3.50 Interim Dividend
Shipping Corporation of India (SCI) reported a stellar performance for Q3 FY26, with standalone net profit jumping over 500% year-on-year to ₹392.96 crore. Revenue from operations grew 23.6% YoY to ₹1,611.22 crore, driven by strong performance in the Tanker and Bulk Carrier segments. The Board has declared a second interim dividend of ₹3.50 per share, with February 17, 2026, set as the record date. While operational metrics show significant improvement, the strategic disinvestment process by the Government of India remains a key ongoing development for the company.
Key Highlights
Standalone Net Profit rose sharply to ₹392.96 crore in Q3 FY26 from ₹64.62 crore in the same quarter last year.
Revenue from operations increased to ₹1,611.22 crore, a 23.6% growth compared to ₹1,302.97 crore in Q3 FY25.
Declared a second interim dividend of ₹3.50 per equity share (35%) for FY 2025-26 with a record date of Feb 17, 2026.
Earnings Per Share (EPS) improved significantly to ₹8.45 for the quarter from ₹1.39 YoY.
The Tanker segment remains the primary driver, contributing ₹1,096.91 crore to revenue and ₹402.03 crore to segment profit.
💼 Action for Investors
Investors should react positively to the massive bottom-line growth and the healthy dividend payout. The stock remains a key play on global shipping rates and the eventual progress of the government's strategic disinvestment plan.
SCILAL Q3 FY26 Net Profit Rises 10% YoY to ₹11.13 Cr; Sequential PAT Jumps 165%
SCILAL reported a strong sequential recovery in net profit for Q3 FY26, reaching ₹11.13 crore compared to ₹4.19 crore in the previous quarter. While total income remained relatively flat year-on-year at ₹26.56 crore, a significant reduction in 'Other Expenses' helped boost the bottom line. The company's 'Others' segment, which manages investment properties and rental income, remains the primary profit driver, offsetting losses in the Maritime Training Institute (MTI) segment. The company maintains a healthy balance sheet with segment assets exceeding ₹3,534 crore.
Key Highlights
Net Profit increased by 9.8% YoY to ₹11.13 crore from ₹10.13 crore in the year-ago period.
Profit Before Tax (PBT) saw a sharp sequential rise to ₹15.40 crore from ₹5.87 crore in Q2 FY26.
Total expenses decreased significantly to ₹11.16 crore from ₹21.69 crore in the previous quarter.
The 'Others' segment (Investment Property) contributed ₹17.08 crore to segment results, while the MTI segment reported a loss of ₹1.67 crore.
Earnings Per Share (EPS) improved to ₹0.24 for the quarter, up from ₹0.09 in the preceding quarter.
💼 Action for Investors
Investors should monitor the stability of rental and interest income from the 'Others' segment, which is the core value driver for this demerged entity. The stock remains a play on asset management and steady yields rather than operational growth in training services.
SCILAL Q3 FY26 Net Profit Rises 10% YoY to ₹11.13 Crore; PAT Jumps 165% QoQ
SCILAL reported a standalone net profit of ₹11.13 crore for the quarter ended December 31, 2025, a 10% increase from ₹10.13 crore in the previous year. While total income saw a marginal decline to ₹26.56 crore, the company achieved a significant 165% sequential growth in PAT compared to Q2 FY26 (₹4.19 crore) due to a sharp reduction in total expenses. The 'Others' segment, comprising investment property and rental income, remains the sole profit driver, offsetting losses in the Maritime Training Institute (MTI) segment.
Key Highlights
Net Profit grew 10% YoY to ₹11.13 crore in Q3 FY26 vs ₹10.13 crore in Q3 FY25.
Total expenses dropped significantly to ₹11.16 crore from ₹21.69 crore in the preceding quarter.
The 'Others' segment (Investment Property/Rent) contributed a profit of ₹17.08 crore, while the MTI segment posted a loss of ₹1.67 crore.
Revenue from operations stood at ₹5.65 crore, down from ₹5.95 crore in the year-ago period.
Earnings Per Share (EPS) improved to ₹0.24 for the quarter, up from ₹0.09 in Q2 FY26.
💼 Action for Investors
Investors should monitor the company's ability to scale its core operations as current profitability is almost entirely dependent on rental and investment income. The stock remains a long-term play on the monetization and management of land assets carved out from the Shipping Corporation of India.
SCI Receives ₹199.76 Crore Income Tax Refund Following Favorable ITAT Order
The Shipping Corporation of India (SCI) has successfully received an income tax refund totaling ₹199.76 crore on February 3, 2026. This follows a favorable ruling from the Income Tax Appellate Tribunal (ITAT) concerning disputes from the financial year 2009-10. The refund includes a substantial interest component of approximately ₹85.75 crore, which will provide a significant boost to the company's cash reserves and potentially its quarterly profitability.
Key Highlights
Total income tax refund of ₹199.76 crore received on February 3, 2026
Refund includes an interest component of approximately ₹85.75 crore
Favorable order pertains to various tax disputes for the financial year 2009-10
The ITAT Mumbai ruling addressed additions to sundry receipts and interest income classification
💼 Action for Investors
Investors should note this as a positive one-time cash inflow that strengthens the balance sheet. The interest component will likely reflect as 'Other Income' in the upcoming quarterly results, potentially boosting net profit.
SCI Signs Strategic MoU with CONCOR and Major Port Authorities for Integrated Logistics
Shipping Corporation of India (SCI) has entered into a significant Memorandum of Understanding (MoU) with Container Corporation of India (CONCOR), JNPA, VOCPA, CPA, and Sagarmala Finance Corporation. This collaboration aims to acquire, own, lease, and operate container vessels and related assets for both EXIM and Coastal trade. The partnership is designed to provide comprehensive end-to-end logistics solutions by integrating port-based services with land and sea transportation. This initiative is backed by the Ministry of Ports, Shipping and Waterways and the Ministry of Railways, signaling strong government support for maritime infrastructure.
Key Highlights
MoU signed with CONCOR, JNPA, VOCPA, CPA, and Sagarmala Finance Corporation Ltd.
Focus on acquiring and operating container vessels and assets for EXIM and Coastal trade.
Integration of land and sea transportation with port-based services for end-to-end logistics.
Strategic initiative supported by the Ministry of Ports, Shipping and Waterways and Ministry of Railways.
💼 Action for Investors
Investors should view this as a positive long-term strategic development that strengthens SCI's position in the container segment. Monitor for future disclosures regarding specific capital expenditure and the operational framework of this multi-entity partnership.
SCI Appoints Nitin Khamesra as Director (Finance) for a 5-Year Tenure
The Shipping Corporation of India (SCI) has announced the appointment of Shri Nitin Khamesra as its new Director (Finance). The appointment, approved by the Appointments Committee of the Cabinet, is for a five-year term starting from the date he assumes charge. Mr. Khamesra transitions to SCI from Indian Oil Corporation Limited (IOCL), where he served as Chief General Manager. The approved pay scale for this senior leadership role is Rs. 1,80,000 to Rs. 3,40,000 (IDA).
Key Highlights
Shri Nitin Khamesra appointed as Director (Finance) for a 5-year term.
The appointee was previously Chief General Manager at Indian Oil Corporation Limited (IOCL).
The approved pay scale for the post is Rs. 1,80,000 - 3,40,000 (IDA).
The appointment follows approval from the Appointments Committee of the Cabinet (ACC) on January 31, 2026.
💼 Action for Investors
Investors should monitor for any shifts in the company's financial strategy or capital allocation under the new Director. No immediate action is required as this is a standard executive appointment in a PSU.
SCI Clarifies News Regarding Potential State-Run Container Shipping Line Collaboration
Shipping Corporation of India (SCI) has responded to an NSE clarification request regarding news reports about state-run companies launching a new container shipping line. The company referred to its previous board approval from July 24, 2024, which allowed for exploring collaborations with central, state, and private entities. SCI stated that the project is currently being explored and definitive updates will be provided once it reaches a more advanced stage. At present, the company has not determined any material impact from these reports on its operations.
Key Highlights
Clarification issued in response to Economic Times report dated January 27, 2026
Reiterates in-principle board approval for collaborations granted on July 24, 2024
Company to provide formal updates once the project reaches a desired stage of development
Management currently unable to determine the specific material impact of the news item
Commitment to timely disclosure under Regulation 30 of SEBI LODR reaffirmed
💼 Action for Investors
Investors should treat this as a preliminary development and wait for concrete details regarding the scale and partnership structure of the shipping line. Monitor the stock for volatility driven by speculative interest in this potential expansion.
SCILAL Extends Capt. B. K. Tyagi's Additional Charge as CMD for 6 Months
The Ministry of Ports, Shipping and Waterways has approved the extension of Capt. B. K. Tyagi's additional charge as Chairman and Managing Director (CMD) of SCILAL. The extension is effective for a six-month period from January 1, 2026, to June 30, 2026, or until further orders. Capt. Tyagi, who is also the CMD of Shipping Corporation of India (SCI), brings over 35 years of industry experience to the role. This move ensures leadership continuity for the company, which manages the non-core land and assets demerged from SCI.
Key Highlights
Extension of Capt. B. K. Tyagi's additional charge as CMD for a 6-month period.
New term effective from January 1, 2026, through June 30, 2026.
Capt. Tyagi concurrently serves as CMD of Shipping Corporation of India (SCI).
Appointment is subject to final approval from the Appointments Committee of the Cabinet (ACC).
Capt. Tyagi has over 35 years of experience in shipping, navigation, and general management.
💼 Action for Investors
This is a routine administrative extension ensuring leadership stability. Investors should monitor for any future announcements regarding a permanent CMD appointment for the demerged entity.