The leading small-cap stock jumped 3.4 percent of Rs 137.95 to its intraday high on Friday’s session from its previous close after the company announced the demerger of its non-core asset.
According to the filling of Shipping Corporation of India (SCI), the company announced the Demerger of Non-Core Assets of Shipping Corporation of India Limited into demerged company as Shipping Corporation of India Land and Assets Limited.
The company has reported its net revenue decreased by 23 percent year on year from Rs 1,420.4 crores in Q2FY23 to Rs 1,093.2 crores in Q2FY24. On a sequential basis, their revenue decreased 9 percent from Rs 1,200 crore in Q1FY24 to current levels.
In addition, the company’s net profit fell by 47 percent year on year, from Rs 124 crores in Q2FY23 to Rs 65 crores in Q2FY24. On a quarter-on-quarter basis, their revenue rose 62 percent from Rs 171 crore in Q1FY24 to current levels.
The company’s promoters hold a 64 percent stake in the company, with 3 percent owned by foreign institutional investors, 26 percent owned by the general public, and 7 percent owned by domestic institutional investors.
Shipping Corporation of India (SCI) has a low debt-to-equity ratio of 0.37 and a price-to-earnings ratio that is 6.86 lower than the industry average. The company’s return on equity (ROE) is 13.5, and its return on capital employed (ROCE) is 10.6.
Shipping Corporation of India (SCI) is a small-cap company with a market capitalization of Rs 6,300 crores. The share price of the company has increased by 41 percent in the last six months.
The Shipping Corporation of India (SCI) is a government-owned company that operates and manages vessels on both national and international routes. The SCI is the only Indian shipping company that provides break-bulk, international container, liquid/dry bulk, offshore, and passenger services.
Written by Sriram KV
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