State-owned Shipping Corporation of India (SCI) has received an income tax refund of ₹2 billion, providing a boost to its cash flows.
The refund relates to assessments of earlier financial years and has been credited to the company’s account, according to people familiar with the matter. The development is expected to strengthen SCI’s liquidity position and support its ongoing operations and fleet-related requirements.
SCI, India’s largest shipping company, operates a diversified fleet across crude oil tankers, product carriers, bulk carriers and container vessels. The receipt of the tax refund comes at a time when the company continues to focus on improving operational efficiency and balance-sheet strength.