sci land & assets (SCILAL), a Government of India Enterprise, has entered into a Memorandum of Understanding (MOU) with NBCC (India) Limited for the upgradation, construction, and renovation of infrastructure at the Maritime Training Institute, Powai. The institute is an asset owned by SCILAL. The development was disclosed to stock exchanges pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.

MOU with NBCC (India) Limited

The MOU was signed between the Shipping Corporation of India (SCI) and NBCC (India) Limited, covering upgradation, construction, and renovation works at the Maritime Training Institute, Powai. The key details of the announcement are presented below:

Regulatory Disclosure

The announcement was made in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The disclosure was submitted by Shri Mohammad Firoz, Company Secretary and Compliance Officer of Shipping Corporation of India Land and Assets Limited, and was addressed to the Listing Compliance Departments of BSE Limited and the National Stock Exchange of India Limited.

Shipping Corporation of India Land and Assets Limited (SCILAL), a Government of India Enterprise, has announced its audited standalone financial results for the quarter and financial year ended March 31, 2026. The Board of Directors approved the financial results at its meeting held on May 5, 2026. The statutory audit was conducted by M/s A. T. Jain & Co., Chartered Accountants, who issued an unmodified opinion on the financial results, as declared by Chairman & Managing Director Capt. B.K. Tyagi pursuant to Regulation 33(3)(d) of the SEBI (LODR) Regulations, 2015.

Financial Performance

For the full year ended March 31, 2026, SCILAL reported a significant turnaround, posting a net profit of Rs. 2,882 lakhs compared to a net loss of Rs. 18,938 lakhs in the previous year. Total income for the year rose to Rs. 10,677 lakhs from Rs. 10,335 lakhs in the prior year, driven by revenue from operations of Rs. 2,330 lakhs and other income of Rs. 8,347 lakhs. Total expenses for the year stood at Rs. 6,743 lakhs, resulting in a profit before tax of Rs. 3,934 lakhs. The basic and diluted earnings per share (EPS) for the year improved to Rs. 0.62 from a negative Rs. (4.07) in the prior year. For the quarter ended March 31, 2026, the company reported a loss of Rs. 84 lakhs on total income of Rs. 2,584 lakhs.

Segment Results

SCILAL operates through two business segments: MTI and Others. The Others segment, which encompasses investment property, HRA & HRR recovery, rent income, and interest income, remained the primary revenue contributor. For the year ended March 31, 2026, the Others segment reported segment revenue of Rs. 8,732 lakhs and a profit before tax and interest of Rs. 4,815 lakhs. The MTI segment, which covers training institution operations with training fees as operating income, reported segment revenue of Rs. 1,945 lakhs but recorded a loss before tax and interest of Rs. 880 lakhs for the year.

Balance Sheet Highlights

As at March 31, 2026, SCILAL's total assets stood at Rs. 3,54,992 lakhs, up from Rs. 3,51,579 lakhs as at March 31, 2025. Total equity increased to Rs. 3,00,471 lakhs from Rs. 3,00,151 lakhs. Non-current assets were Rs. 2,40,310 lakhs, while current assets stood at Rs. 1,14,682 lakhs. Total liabilities were Rs. 54,521 lakhs, comprising non-current liabilities of Rs. 24,116 lakhs and total current liabilities of Rs. 30,405 lakhs. Other equity stood at Rs. 2,53,891 lakhs as at March 31, 2026, compared to Rs. 2,53,571 lakhs in the prior year.

Cash Flow Summary

For the year ended March 31, 2026, SCILAL reported a net cash outflow from operating activities of Rs. 6,077 lakhs, compared to Rs. 4,942 lakhs in the prior year. Net cash inflow from investing activities was Rs. 8,505 lakhs, primarily driven by interest received of Rs. 8,629 lakhs. Cash outflow from financing activities was Rs. 2,557 lakhs, which included dividend payments of Rs. 2,556 lakhs. Cash and cash equivalents at the end of the period stood at Rs. 161 lakhs, compared to Rs. 290 lakhs at the beginning of the period.

Dividend Recommendation

The Board of Directors has recommended a dividend of Re. 0.55 per equity share of face value Rs. 10 each, representing 5.50% per share for FY 2025-26. The total outgo on this account is estimated to be approximately Rs. 25.62 crores. This recommendation is subject to the approval of shareholders at the ensuing Annual General Meeting. If declared, the dividend will be paid within 30 days from the date of its declaration at the AGM.

Auditor Appointment

Based on the recommendation of the Audit Committee, the Board approved the appointment of M/s Amit Ray & Co., Chartered Accountants (FRN 000483C), as the Internal (External) Auditor of the company for a period of two years covering FY 2026-27 and FY 2027-28, effective from April 1, 2026, with an extension of one year at the sole discretion of SCILAL, in accordance with Section 138 of the Companies Act, 2013. M/s Amit Ray & Co. is a firm incorporated in 1964 with 10 office locations across India, 14 partners, and is empanelled with CAG and RBI (Category I).