Great Eastern Shipping Company Ltd

Great Eastern Shipping Company Ltd

₹ 1,215 2.28%
14 Jun 4:01 p.m.
About

Great Eastern Shipping Company Ltd, along with its subsidiaries is a major player in the Indian shipping and Oil drilling services industry.[1]

Key Points

Overview[1]
GE Shipping was founded in 1948 with the purchase of a Liberty ship. As of FY24, GES is India’s largest private sector shipping company, owning and operating 43 ships and 23 offshore assets.

  • Market Cap 17,376 Cr.
  • Current Price 1,215
  • High / Low 1,241 / 692
  • Stock P/E 6.65
  • Book Value 868
  • Dividend Yield 2.37 %
  • ROCE 20.2 %
  • ROE 23.1 %
  • Face Value 10.0

Pros

  • Company has delivered good profit growth of 199% CAGR over last 5 years
  • Company has been maintaining a healthy dividend payout of 19.4%

Cons

  • Tax rate seems low
  • Working capital days have increased from 68.1 days to 168 days

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: Shipping Industry: Shipping

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024
740 769 885 939 916 1,366 1,447 1,421 1,456 1,284 1,229 1,245 1,497
561 484 495 527 530 628 654 625 609 492 586 595 561
Operating Profit 179 285 390 412 386 738 793 796 847 792 643 650 937
OPM % 24% 37% 44% 44% 42% 54% 55% 56% 58% 62% 52% 52% 63%
113 -2 103 47 67 -15 253 101 95 51 232 151 229
Interest 79 98 85 76 111 93 88 85 77 62 77 67 59
Depreciation 168 179 184 184 151 179 181 184 167 180 187 194 166
Profit before tax 45 5 224 200 191 450 777 629 698 601 612 540 942
Tax % -8% -146% 0% -3% 1% -1% 1% 0% -4% 4% 3% 0% 4%
49 12 223 205 189 457 769 627 722 576 595 538 905
EPS in Rs 3.33 0.84 15.18 13.97 13.23 32.01 53.85 43.93 50.57 40.36 41.65 37.70 63.40
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
3,007 3,092 3,438 3,808 3,117 3,038 3,547 3,687 3,337 3,509 5,690 5,255
2,042 1,660 2,005 1,823 1,686 1,838 2,480 2,470 1,683 1,969 2,563 2,234
Operating Profit 965 1,432 1,433 1,985 1,431 1,200 1,067 1,217 1,653 1,540 3,128 3,022
OPM % 32% 46% 42% 52% 46% 40% 30% 33% 50% 44% 55% 58%
556 242 276 119 506 102 269 211 232 148 481 664
Interest 345 375 301 288 378 455 521 450 242 370 343 265
Depreciation 592 665 610 608 678 769 773 743 700 698 712 726
Profit before tax 584 633 798 1,208 882 79 42 235 943 620 2,554 2,694
Tax % 8% 9% 6% 9% 14% 367% 151% 12% 3% -2% -1% 3%
538 574 748 1,097 755 -210 -21 207 919 630 2,575 2,614
EPS in Rs 35.30 38.07 49.63 72.76 50.07 -13.96 -1.42 14.09 62.50 44.09 180.36 183.11
Dividend Payout % 21% 24% 22% 19% 20% -52% -380% 57% 14% 22% 16% 20%
Compounded Sales Growth
10 Years: 5%
5 Years: 8%
3 Years: 16%
TTM: -8%
Compounded Profit Growth
10 Years: 17%
5 Years: 199%
3 Years: 46%
TTM: 6%
Stock Price CAGR
10 Years: 12%
5 Years: 35%
3 Years: 44%
1 Year: 61%
Return on Equity
10 Years: 11%
5 Years: 16%
3 Years: 20%
Last Year: 23%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Equity Capital 152 151 151 151 151 151 151 147 147 143 143 143
Reserves 6,189 6,622 7,280 6,413 7,073 6,777 6,659 6,649 7,557 7,909 10,133 12,255
6,739 6,119 6,540 5,759 6,816 6,213 5,999 5,295 5,047 4,655 3,649 3,048
1,368 1,484 1,565 1,610 1,363 1,523 1,562 1,742 1,394 1,262 1,284 1,362
Total Liabilities 14,449 14,377 15,535 13,933 15,402 14,664 14,370 13,833 14,145 13,969 15,209 16,808
9,684 9,842 10,888 8,925 10,304 9,809 9,617 9,123 9,042 8,877 8,450 8,338
CWIP 20 358 227 328 22 13 14 123 24 24 35 51
Investments 2,026 1,142 1,250 912 875 856 601 963 1,350 1,157 1,510 1,970
2,719 3,035 3,170 3,768 4,201 3,986 4,138 3,624 3,729 3,910 5,215 6,450
Total Assets 14,449 14,377 15,535 13,933 15,402 14,664 14,370 13,833 14,145 13,969 15,209 16,808

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
1,256 1,358 1,445 2,151 1,522 969 1,096 1,481 1,534 1,323 2,975 2,808
-409 -348 -725 -440 -1,548 -412 429 622 -882 -337 39 -915
-442 -1,697 -228 -1,677 713 -1,158 -1,020 -1,872 -505 -1,189 -1,893 -1,330
Net Cash Flow 405 -688 491 34 687 -602 505 230 147 -203 1,120 563

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Debtor Days 45 32 36 30 24 30 31 34 30 33 37 45
Inventory Days
Days Payable
Cash Conversion Cycle 45 32 36 30 24 30 31 34 30 33 37 45
Working Capital Days -216 -239 -211 -161 -187 -143 -132 -35 1 13 23 168
ROCE % 6% 7% 8% 11% 8% 4% 4% 4% 9% 7% 21%

Shareholding Pattern

Numbers in percentages

5 Recently
Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
29.21% 29.21% 29.21% 30.06% 30.07% 30.08% 30.08% 30.08% 30.08% 30.08% 30.08% 30.08%
21.56% 19.58% 20.64% 21.94% 22.06% 23.92% 25.07% 25.94% 26.18% 27.30% 26.75% 27.41%
21.76% 23.95% 21.83% 20.36% 20.64% 18.58% 17.13% 17.04% 16.66% 15.91% 16.39% 16.60%
0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.00% 0.00% 0.00% 0.00%
27.46% 27.25% 28.31% 27.63% 27.21% 27.41% 27.71% 26.93% 27.08% 26.72% 26.76% 25.91%
No. of Shareholders 77,74280,46580,76375,42871,25173,12679,34279,04185,12195,75798,0471,00,251

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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Documents

Concalls