Great Eastern Shipping Company Ltd

About [ edit ]

G E Shipping is India's largest private sector shipping service provider enjoying a formidable presence in the international maritime industry. The shipping business operates under two main businesses: dry bulk carriers and tankers.(Source : Company Web-Site)

  • Market Cap 5,843 Cr.
  • Current Price 400
  • High / Low 430 / 189
  • Stock P/E 7.00
  • Book Value 524
  • Dividend Yield 2.03 %
  • ROCE 9.08 %
  • ROE 11.5 %
  • Face Value 10.0

Pros

  • Stock is trading at 0.76 times its book value
  • Debtor days have improved from 29.23 to 22.22 days.

Cons

  • The company has delivered a poor sales growth of -2.61% over past five years.
  • Promoter holding is low: 29.21%
  • Tax rate seems low
  • Company has a low return on equity of 4.46% for last 3 years.
  • Company might be capitalizing the interest cost

Peer comparison

Sector: Shipping Industry: Shipping

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021
821 799 971 974 783 818 1,077 1,009 1,068 775 753 740
492 566 362 560 512 454 512 843 390 313 428 506
Operating Profit 329 233 610 414 271 364 565 166 678 462 325 233
OPM % 40% 29% 63% 43% 35% 44% 52% 16% 63% 60% 43% 32%
Other Income -245 -117 65 47 -10 -42 73 41 60 27 100 59
Interest 129 136 135 122 105 138 108 99 81 80 62 79
Depreciation 191 194 197 190 192 193 188 169 181 174 177 168
Profit before tax -235 -214 342 149 -36 -10 341 -61 476 235 186 45
Tax % -4% -4% 13% 0% -52% -93% 3% 17% 2% 4% 5% -8%
Net Profit -245 -223 299 148 -54 -19 331 -51 468 225 176 49
EPS in Rs -16.25 -14.82 19.81 9.85 -3.58 -1.26 22.50 -3.45 31.83 15.34 12.00 3.33

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
2,891 2,452 2,955 3,007 3,092 3,438 3,808 3,117 3,038 3,547 3,687 3,337
2,126 1,574 1,869 1,879 1,660 2,005 1,823 1,686 1,838 2,494 2,520 1,683
Operating Profit 765 878 1,086 1,128 1,432 1,433 1,985 1,431 1,200 1,053 1,166 1,653
OPM % 26% 36% 37% 38% 46% 42% 52% 46% 40% 30% 32% 50%
Other Income 430 311 279 394 242 276 119 506 102 283 262 232
Interest 212 240 437 345 375 301 288 378 455 521 450 242
Depreciation 425 420 548 592 665 610 608 678 769 773 743 700
Profit before tax 558 529 379 584 633 798 1,208 882 79 42 235 943
Tax % 8% 11% 15% 8% 9% 6% 9% 14% 367% 151% 12% 3%
Net Profit 513 469 317 538 574 748 1,097 755 -210 -21 207 919
EPS in Rs 33.67 30.78 20.79 35.30 38.07 49.63 72.76 50.07 -13.96 -1.42 14.09 62.50
Dividend Payout % 24% 26% 31% 21% 24% 22% 19% 20% -52% -380% 57% 14%
Compounded Sales Growth
10 Years:3%
5 Years:-3%
3 Years:3%
TTM:-10%
Compounded Profit Growth
10 Years:10%
5 Years:-4%
3 Years:192%
TTM:867%
Stock Price CAGR
10 Years:4%
5 Years:5%
3 Years:5%
1 Year:100%
Return on Equity
10 Years:6%
5 Years:4%
3 Years:4%
Last Year:12%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
152 152 152 152 151 151 151 151 151 151 147 147
Reserves 5,549 5,878 5,844 6,189 6,622 7,280 6,413 7,073 6,777 6,659 6,649 7,557
Borrowings 5,370 5,956 6,407 6,739 6,119 6,540 5,759 6,816 6,213 5,999 5,277 4,431
796 674 1,278 1,368 1,484 1,565 1,610 1,363 1,523 1,562 1,760 2,011
Total Liabilities 11,868 12,660 13,681 14,449 14,377 15,535 13,933 15,402 14,664 14,370 13,833 14,146
6,402 7,689 8,832 9,684 9,842 10,888 8,925 10,304 9,809 9,617 9,123 9,042
CWIP 1,101 1,395 644 20 358 227 328 22 13 14 123 24
Investments 2,179 0 1,315 2,026 1,142 1,250 912 875 856 601 963 1,350
2,185 3,576 2,890 2,719 3,035 3,170 3,768 4,201 3,986 4,138 3,624 3,729
Total Assets 11,868 12,660 13,681 14,449 14,377 15,535 13,933 15,402 14,664 14,370 13,833 14,146

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
1,025 1,023 745 1,256 1,358 1,445 2,151 1,522 969 1,096 1,481 1,534
-738 -1,288 -54 -409 -348 -725 -440 -1,548 -412 429 622 -873
1,298 138 -520 -442 -1,697 -228 -1,677 713 -1,158 -1,020 -1,872 -505
Net Cash Flow 1,585 -127 171 405 -688 491 34 687 -602 505 230 156

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
ROCE % 5% 5% 6% 6% 7% 8% 11% 8% 4% 4% 4% 9%
Debtor Days 28 34 41 45 32 36 30 24 30 31 34 22
Inventory Turnover 4.50 3.25 3.84 3.50 2.90 3.62 2.27 1.49 2.16 3.01 2.76 1.71

Shareholding Pattern

Numbers in percentages

Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021
29.66 29.66 29.66 29.66 29.66 30.07 28.43 28.83 29.13 29.49 29.21 29.21
21.62 21.21 19.23 19.19 20.50 20.35 22.77 22.02 20.83 19.21 19.31 18.66
22.28 22.98 24.85 25.06 23.60 23.95 21.63 22.04 22.52 24.99 24.35 25.13
0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01
26.44 26.14 26.25 26.08 26.23 25.62 27.16 27.11 27.51 26.31 27.11 26.98

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