In today’s episode of News Par Views show, Zee Business Managing Editor Anil Singhvi spoke to Harjeet Kaur Joshi, Chairman and Managing Director (CMD) of Shipping Corporation of India (SCI). She speaks about the ongoing divestment process, business outlook and more.  (#NewsParViews) 

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The CMD said that SCI was getting a “very good” response from the potential investors and many have come forward to buy stakes in the company. The interest is coming from the core domestic shipping companies. Interest is also being showed by many funds, too, she said. Many consortiums have also come forward, she further said. 

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SCI which was started in 1961 became a Navratna in 2008. The company is into the business of transporting offshore crude oil and LNG transportation. This was the first company to register Rs 1000 cr profits in the shipping space in 2005.  

Business Outlook

She said that the existing scenario for shipping sector is not good and the market has come down significantly. The sector has been in depression since 2008 and has still not bounced back.  Despite this, the company has performed very well. She said that the fundamentals of the SCI are very strong.

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She said that the debt-to-equity ratio is at an all-time low which is an achievement itself. There cannot be a more financially sound company than SCI, she further said. 

This is drawing a lot of investors towards this Navratna company.