Shipping Corporation of India files BRSR for FY26 with ₹5,77,813 Lakhs turnover
- Shipping Corporation of India reported a turnover of ₹5,77,813 Lakhs and net worth of ₹8,38,444 Lakhs for FY 2025-26 on a standalone basis
- Zero fatal accidents, zero reportable oil pollution incidents, and zero air pollution incidents were recorded during FY 2025-26
- LTIFR for employees improved to 0.08 per million person-hours in FY 2025-26 from 0.20 in FY 2024-25
- The company signed a shipbuilding contract with Mazagon Dock Shipbuilders Ltd. for one 3,000 DWT Methanol Dual Fuel Platform Supply Vessel under the National Green Hydrogen Mission
- MSME procurement stood at 44.16% of total procurement on the Sambandh portal; BRSR Core disclosures received Reasonable Assurance from Indian Register Quality Systems (ISSPL Limited)
*this image is generated using AI for illustrative purposes only.
Shipping Corporation of India submitted its Business Responsibility and Sustainability Report (BRSR) for FY 2025-26 as part of its 76th Annual Report, disclosing a turnover of ₹5,77,813 Lakhs and a net worth of ₹8,38,444 Lakhs.
The report, filed pursuant to Regulation 34(2)(f) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, covers standalone operations for the period April 1, 2025 to March 31, 2026. Independent Reasonable Assurance on BRSR Core disclosures was provided by Messrs. Indian Register Quality Systems (ISSPL Limited).
Business overview and revenue mix
The company's entire turnover is classified under the Transport and Storage sector, specifically water transport. Tanker services contributed the largest share of revenue, followed by liner and bulk operations.
| Segment | % of total turnover |
|---|---|
| Tanker | 67.74% |
| Liner Services | 13.57% |
| Bulk | 13.47% |
| Technical and Offshore service | 5.15% |
Exports accounted for 29.38% of the company's total turnover in FY 2025-26. The company operates six domestic offices, including its Mumbai headquarters and five regional or branch offices, along with one international office in London.
Workforce and employee well-being
As at the end of FY 2025-26, the company employed 469 shore employees and 2,267 fleet employees on a combined permanent and non-permanent basis, in addition to 220 non-permanent workers. All permanent employees across shore and fleet categories were paid above the minimum wage. Well-being expenditure as a percentage of total revenue stood at 1.04% in FY 2025-26, up from 0.95% in FY 2024-25.
| Category | Total employees | Female (%) |
|---|---|---|
| Shore (permanent + other) | 469 | 22.60% |
| Fleet (permanent + other) | 2,267 | 1.01% |
| Workers (other than permanent) | 220 | 7.27% |
The company recorded six differently abled permanent employees (shore and fleet combined) during the reporting period. Turnover rate for permanent shore employees stood at 5.88% in FY 2025-26, compared to 7.00% in FY 2024-25, while fleet permanent employee turnover fell sharply to 4.94% from 14.65% in the prior year.
Safety performance
The company achieved zero fatal accidents and zero reportable oil or air pollution incidents during FY 2025-26. The Lost Time Injury Frequency Rate (LTIFR) for employees improved to 0.08 per one million person-hours worked, from 0.20 in FY 2024-25. Total recordable work-related injuries for employees declined to 12 from 31 in the previous year.
| Safety metric | FY 2025-26 | FY 2024-25 |
|---|---|---|
| LTIFR (employees, per million person-hours) | 0.08 | 0.20 |
| Total recordable injuries (employees) | 12 | 31 |
| Fatalities (employees) | 0 | 0 |
| High consequence injuries (employees) | 0 | 0 |
Environmental disclosures
Total energy consumed from non-renewable sources rose to 15,374,153.11 GJ in FY 2025-26 from 13,849,472.87 GJ in FY 2024-25, partly reflecting the inclusion of four ILT Joint Venture vessels not covered in the prior year. Total Scope 1 GHG emissions were 1,192,296.21 metric tonnes of CO2 equivalent, while Scope 2 emissions stood at 1,355.03 metric tonnes of CO2 equivalent.
| Environmental parameter | FY 2025-26 | FY 2024-25 |
|---|---|---|
| Total energy consumed (non-renewable) | 15,374,153.11 GJ | 13,849,472.87 GJ |
| Total Scope 1 emissions (tCO2e) | 1,192,296.21 | 1,079,365.24 |
| Total Scope 2 emissions (tCO2e) | 1,355.03 | 1,425.15 |
| Total water withdrawal (kilolitres) | 2,42,072.12 | 1,91,192.1 |
| Total waste generated (metric tonnes) | 4,252.15 | 1,358.91 |
| NOx emissions (MT) | 26,597.48 | 25,266.63 |
| SOx emissions (MT) | 3,235.94 | 3,099.32 |
Installation of Ballast Water Treatment Systems was completed on all applicable vessels by March 2026. During the year, the company executed a shipbuilding contract with Mazagon Dock Shipbuilders Ltd. for construction of one 3,000 DWT Methanol Dual Fuel Platform Supply Vessel under the National Green Hydrogen Mission, representing the company's first vessel designed to operate on Green Methanol.
Governance and related-party transactions
The company reported zero monetary penalties, fines, settlements, or compounding fees during FY 2025-26. No complaints related to conflict of interest involving directors or key managerial personnel were received. Accounts payable days stood at 133 in FY 2025-26, compared to 126 in FY 2024-25.
Related-party transactions as a share of total activity increased across most categories during the year.
| RPT metric | FY 2025-26 | FY 2024-25 |
|---|---|---|
| Purchases with related parties (% of total) | 44.09% | 36.12% |
| Sales to related parties (% of total) | 62.33% | 58.47% |
| Loans and advances to related parties (% of total) | 88.36% | 87.96% |
| Investments in related parties (% of total) | 53.25% | 36.57% |
The company holds affiliations with twelve trade and industry chambers and associations, including FICCI, BIMCO, INSA, and OCIMF. No adverse orders from regulatory authorities on anti-competitive conduct were received during the year. MSME procurement constituted 44.16% of total procurement declared on the Sambandh portal, of which 3.86% was from women MSE vendors and 0.60% from SC/ST MSE vendors.
The Ministry of Ports, Shipping and Waterways, vide Order No. SS-11035/1/2024 SU dated May 5, 2025, conveyed the dismissal of Shri Chirayu Indradeo Acharya from the post of Director (Finance) with effect from May 5, 2025, following imposition of a major penalty under the SCI Conduct, Discipline and Appeal Rules, 2011.
Historical Stock Returns for Shipping Corporation of India
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -0.73% | +3.72% | -3.96% | +19.58% | +23.18% | +141.08% |
How will the transition to Green Methanol via the new Mazagon Dock vessel impact SCI's operational costs and competitive positioning in the global tanker market?
What strategies is SCI implementing to mitigate the rising Scope 1 GHG emissions and non-renewable energy consumption despite safety improvements?
Given the significant increase in related-party transactions, particularly in sales and investments, how does SCI ensure transparency and mitigate potential conflict of interest risks for minority shareholders?
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