SCILAL submitted a revised Annual Report for FY 2025-26 to BSE and NSE to correct typographical errors and omissions in the original submission. The company reported a significant financial turnaround with a standalone net profit of ₹2.88 crore (₹28.82 lakh) for FY 2025-26, reversing from a substantial loss of ₹18.94 crore (₹189.38 lakh) in the previous year. This improvement was achieved despite operating revenue remaining relatively modest at ₹2.30 lakhs.
The Board recommended a final dividend of ₹0.55 per equity share, requiring an outflow of approximately ₹25.62 lakhs, subject to shareholder approval at the AGM scheduled for 21.09.2026. The record date for dividend entitlement is set for 04.09.2026.
However, the company faces persistent governance challenges. Throughout FY25-26, SCILAL remained non-compliant with SEBI LODR regulations due to an improperly constituted Board that lacked the requisite number of independent directors (50% of board strength) and an independent woman director. This governance deficit resulted in penalties from both BSE and NSE, though some penalties for Q1 FY26 were subsequently waived. The company made repeated representations to the Competent Authority (Government of India) through multiple letters requesting director appointments.
Financially, the company recorded a substantial unrealized foreign exchange loss of ₹26.89 crore in FY26, representing a major increase from ₹6.54 crore in FY25, which significantly impacted administrative expenses. The fixed assets portfolio includes valuable properties in Mumbai (159 flats, Shipping House building) and Kolkata (15 flats, Shipping House land and building), along with the MTI Powai campus.
Operational initiatives included signing MoUs with global ship management company Synergy Marine Group for maritime capability development, with Vadhvan Port Project Limited for GP Rating Pre-Sea Training Courses, and with NBCC (India) Limited for upgradation of MTI Powai infrastructure. The company also leased part of Shipping House, Kolkata to the Chief Electoral Officer, West Bengal for revenue generation.
The company continues to operate through service arrangements with Shipping Corporation of India Limited, with Company Secretary and CFO deputed from SCI for day-to-day affairs. Title deeds for significant immovable properties remain in the process of being transferred from the demerged entity (SCI Ltd.), though mutation for Kolkata properties was completed in March 2024.