Shipping Corporation of India (SCI) is planning to go slow on its vessel acquisition plan due to its stressed cash flow. According to the company, it should have been an ideal time for acquisition as the asset prices have come down sharply, but it is not able to take advantage of the situation as economic slowdown has stressed its cash flow severely.
The company has reported a loss of Rs 428.21 crore, its first in 28 years, against a profit of Rs 567.35 crore in 2010-11. The 2012-13 margin entity expects 10% dip from the last financial year and more than 50% from SCI’s historic peak margin.
