The Shipping Corporation of India (SCI) is expected to post a profit after tax (PAT) of more than ₹2,000 crore in the current financial year, Union Minister for Ports, Shipping and Waterways Sarbananda Sonowal said on Friday. The Navratna public sector undertaking is also working on a significant expansion of its fleet.
SCI recorded a standalone PAT of ₹1,352.92 crore in FY26, while its standalone operating revenue stood at ₹5,778.1 crore, according to the company’s financial report. Sonowal said the company had already crossed ₹600 crore in PAT during the first quarter of FY27.
“Last year the profit margin after tax was ₹1,326 crore. This year, in the first quarter, they have already exceeded ₹600 crore in PAT. That way in this particular financial year it is going to post more than ₹2,000 crore in PAT,” Sonowal said while speaking to reporters on the sidelines of SCI’s 65th Foundation Day celebration.
The company currently operates a fleet of 58 vessels, which the government expects to expand further. According to Sonowal, SCI is working with companies in the petroleum sector to establish joint ventures, with proceeds from these partnerships expected to support the procurement of more than 34 additional vessels.
SCI is also collaborating with the Container Corporation of India (CONCOR) and four major ports to bring 51 container vessels into its fleet. The planned additions are aimed at increasing the company’s shipping capacity and strengthening its presence in the container segment.
The fleet expansion comes alongside a broader focus on strengthening India’s domestic maritime capabilities. SCI operates across multiple segments, including crude and product tankers, bulk and container shipping, LPG and LNG carriers, offshore services, passenger and coastal transport and project cargo. The company currently has 58 vessels with a combined capacity of 5.26 million deadweight tonnes.
Speaking at the foundation day event, Sonowal also highlighted the company’s role in maintaining India’s energy and trade security, including during disruptions linked to geopolitical developments. He said the government had been able to manage such situations and maintain the continuity of critical supplies.
The minister also referred to the government’s Container Manufacturing Assistance Scheme (CMAS), which has an allocation of more than ₹10,000 crore under the FY27 Budget. The scheme is intended to support domestic container manufacturing, reduce import dependence and strengthen the resilience of India’s trade and logistics network.
According to Sonowal, several entrepreneurs have shown interest in the container manufacturing programme. He said the government has already worked out the framework and is moving towards bringing the scheme to its final stage.
SCI’s expansion plans form part of the wider effort to increase India’s shipping and ship-owning capacity. At its 65th Foundation Day event, the government called on the company to play a larger role in strengthening the country’s maritime capabilities and supporting the development of a globally competitive domestic shipping sector.
