Shipping Corporation of India (SCI), the country’s largest shipping company and a Navratna PSU, is expected to record a profit after tax (PAT) of more than ₹2,000 crore during the current financial year, Union Minister for Ports, Shipping and Waterways Sarbananda Sonowal said.
Speaking to reporters on the sidelines of SCI’s 65th Foundation Day celebrations, Sonowal said the company had already crossed ₹600 crore in PAT during the first quarter of the current fiscal, putting it on track to surpass the ₹2,000-crore mark for the full year.
SCI reported a standalone PAT of ₹1,352.92 crore on operating revenue of ₹5,778.1 crore in FY2025-26.
The minister said SCI currently has a fleet of 58 vessels and plans to significantly expand its fleet. The company is working with firms in the petroleum sector to establish joint ventures, with proceeds expected to support the acquisition of more than 30 vessels.
In addition, SCI is collaborating with CONCOR and four major ports to facilitate the induction of 51 container vessels, further strengthening India’s container shipping capacity.
Sonowal also highlighted the government’s ₹10,000-crore Container Manufacturing Assistance Scheme (CMAS) announced in the FY2026-27 Budget. The scheme is aimed at boosting domestic container manufacturing, reducing import dependence and strengthening the resilience of India’s trade and logistics network.
According to the minister, several entrepreneurs have already expressed interest in participating in the container manufacturing initiative. He said the government has laid out the framework for the programme and is working towards bringing the scheme to fruition within a short period.
Sonowal further emphasised that India’s maritime sector remains resilient despite ongoing geopolitical uncertainties, stating that the government is prepared to effectively address challenges related to energy security and global trade disruptions.