Fishery of Sepia pharaonis by trawlers at New Ferry Wharf (NFW) during 2000 - 2011 in Mumbai waters is described. The landings ranged from 438 t (2004) to 1,763 t (2005) and the catch rate ranged from 0.17 kg/hr (2003) to 1.04 kg/hr (2005). The relationship between dorsal mantle length (DML) and total body weight (TBW) for males, TBW = 0.0008414 * DML 2.57989 and for females, TBW = 0.0009723 * DML 2.55201. Fish formed the major food item in both the sexes (87.1% in males and 86% in females) followed by prawns. Females were dominant in the catch with a sex-ratio of 1:1.24. Maximum numbers of males were mature (43.6%) while maximum numbers of females (37.2%) were spawning. The size at 50% maturity for females was estimated as 153 mm. The major peak spawning season for the species is during February to May.