The Great Eastern Shipping Company Ltd - Stock Valuation and Financial Performance

BSE: 500620 | NSE: GESHIP | Shipping | Small Cap

GE Shipping Share Price

1,000.15 4.50 0.45%
as on 28-Mar'24 16:01

DeciZen - make an informed investing decision on GE Shipping

Overall Rating
Bole Toh

1. Quality

2. Valuation

Somewhat overvalued

3. Price Trend

Semi Strong

The Great Eastern Shipping Company stock performance -

mw4me loader
P/E Ratio (SA):
6.43
Market Cap:
14,278.9 Cr.
52-wk low:
610.5
52-wk high:
1,051.5

Is The Great Eastern Shipping Company Ltd an attractive stock to invest in?

1. Is The Great Eastern Shipping Company Ltd a good quality company?

Past 10 year's financial track record analysis by Moneyworks4me indicates that The Great Eastern Shipping Company Ltd is a average quality company.

2. Is The Great Eastern Shipping Company Ltd undervalued or overvalued?

The key valuation ratios of The Great Eastern Shipping Company Ltd's currently when compared to its past seem to suggest it is in the Somewhat overvalued zone.

3. Is The Great Eastern Shipping Company Ltd a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Semi Strong which suggest that the price of The Great Eastern Shipping Company Ltd is likely to Rise-somewhat in the short term. However, please check the rating on Quality and Valuation before investing.

10 Year X-Ray of GE Shipping:

Analysis of Financial Track Record

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
The Great Eastern Shipping Company Ltd has performed well in some of the past ten years indicating its past ten year financial track record is somewhat good

Value Creation

Value Creation Index Colour Code Guide

Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
ROCE % 3.1%4.5%9.5%8%3.7%2.5%7%12%8.9%22.5%-
Value Creation
Index
-0.8-0.7-0.3-0.4-0.7-0.8-0.5-0.1-0.40.7-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 1,4931,7341,9721,7042,0612,6512,8712,6742,8324,8354,223
Sales YoY Gr.-16.2%13.8%-13.6%21%28.6%8.3%-6.9%5.9%70.7%-
Adj EPS 7.315.240.434.17.9-1.427.463.750.3153155.6
YoY Gr.-109.4%165.7%-15.6%-76.9%-117.2%NA132.1%-21.1%204.3%-
BVPS (₹) 318.8327306.4342.4346.6336344.8414.9460.3596.8686.8
Adj Net
Profit
109229609514119-20.44039367182,1842,222
Cash Flow from Ops. 4295301,0577195246741,1421,3441,1532,699-
Debt/CF from Ops. 7.75.82.76.28.16.13.22.830.9-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales 14%18.6%19%70.7%
Adj EPS 40.3%81%77.3%204.3%
BVPS7.2%11.5%20.1%29.7%
Share Price 11.5% 28.7% 48.3% 51.2%

Key Financial Parameters

Performance Ratio Colour Code Guide

Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
Return on
Equity %
2.24.712.810.52.3-0.4816.811.328.924.3
Op. Profit
Mgn %
3332.649.242.931.52941.446.843.357.358.9
Net Profit
Mgn %
7.313.230.930.25.8-0.814.13525.345.252.6
Debt to
Equity
0.70.60.60.90.80.80.70.60.50.3-
Working Cap
Days
100806471919594939066233
Cash Conv.
Cycle
-41-4-8182-5-7-8189

Recent Performance Summary

Return on Equity has increased versus last 3 years average to 24.20%

Sales growth is growing at healthy rate in last 3 years 18.98%

Net Profit is growing at healthy rate in last 3 years 77.31%

Sales growth is not so good in last 4 quarters at 4.38%

Latest Financials - The Great Eastern Shipping Company Ltd.

Standalone Consolidated
TTM EPS (₹) 155.6 170.3
TTM Sales (₹ Cr.) 4,223 5,214
BVPS (₹.) 686.8 818.6
Reserves (₹ Cr.) 9,662 11,544
P/BV 1.46 1.22
PE 6.43 5.87
From the Market
52 Week Low / High (₹) 610.50 / 1051.50
All Time Low / High (₹) 13.80 / 1051.50
Market Cap (₹ Cr.) 14,279
Equity (₹ Cr.) 142.8
Face Value (₹) 10
Industry PE 8

Management X-Ray of GE Shipping:

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Event Update

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Analyst's Notes

Key Ratios of GE Shipping

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Sales1,4931,7341,9721,7042,0612,6512,8712,6742,8324,835
Operating Expenses 1,0101,1721,0711,0091,4122,0492,0551,4771,6072,154
Manufacturing Costs6938226245268081,2441,1068189781,371
Material Costs0000000000
Employee Cost 206241256315435468443458478505
Other Costs 111109190168169337506201151278
Operating Profit 4825629026956496028161,1971,2252,681
Operating Profit Margin (%) 32.3%32.4%45.7%40.8%31.5%22.7%28.4%44.8%43.3%55.4%
Other Income 300279206567338262298560275417
Interest 213189183247328362318252234259
Depreciation 360319288374491509477439436450
Exceptional Items 0000000000
Profit Before Tax 209333637641167-63201,0668312,389
Tax 416194071339361937
Profit After Tax 205317618601160-192811,0308122,352
PAT Margin (%) 13.7%18.3%31.3%35.3%7.8%-0.7%9.8%38.5%28.7%48.6%
Adjusted EPS (₹)13.621.041.039.910.6-1.319.170.156.9164.7
Dividend Payout Ratio (%)66%52%33%25%68%-418%42%13%17%17%

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23

Equity and Liabilities

Shareholders Fund 4,8064,9314,6205,1625,2255,0665,0676,0986,5718,520
Share Capital 151151151151151151147147143143
Reserves 4,6564,7804,4695,0115,0754,9154,9205,9516,4298,377
Minority Interest0000000000
Debt2,8052,5692,6063,9193,7473,3083,3193,2412,9712,222
Long Term Debt2,8052,5692,6063,7483,5763,3083,3193,2412,9712,222
Short Term Debt00017017100000
Trade Payables126114119123186227269221288271
Others Liabilities 1,7331,8191,5101,5441,3781,7411,3511,2851,1381,013
Total Liabilities 9,4709,4328,85510,74810,53810,34110,00610,84510,96912,026

Fixed Assets

Gross Block6,6006,4935,2727,4157,8268,0257,9328,2638,5728,469
Accumulated Depreciation2,0312,2351,6061,8202,2842,4892,7362,8943,1443,321
Net Fixed Assets4,5694,2583,6665,5945,5425,5365,1965,3695,4275,149
CWIP 14122632822813109242427
Investments 2,7912,8152,5642,5432,4362,1562,5572,9772,7062,958
Inventories7153286096135132122139110
Trade Receivables431349246159202254152209444
Cash Equivalents 1,7551,7172,0252,1981,9151,8271,4031,8492,0362,915
Others Assets100229152283381472355353427425
Total Assets 9,4709,4328,85510,74810,53810,34110,00610,84510,96912,026

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Cash Flow From Operating Activity 4295301,0577195246741,1421,3441,1532,699
PBT 209333637641167-63201,0668312,389
Adjustment 261252367119498799886168442531
Changes in Working Capital -23-2779-15-112-92-22102-99-184
Tax Paid -17-28-25-26-29-26-428-21-37
Cash Flow From Investing Activity -131498-342-1,530-340527613-959-53981
Capex -234-156-608-1,963-410-571-32-463-368-103
Net Investments -10245014338051,017523-533-207126
Others 206204123546580122373558
Cash Flow From Financing Activity -909-650-8041,284-638-701-1,411-102-983-1,623
Net Proceeds from Shares 0000000000
Net Proceeds from Borrowing -512-305-2541,586-216-182-605158-329-973
Interest Paid -216-197-189-197-311-323-320-250-250-219
Dividend Paid -129-135-312-54-98-109-160-40-198-360
Others -52-12-48-51-13-88-32630-206-71
Net Cash Flow -610378-88473-453499344284-3691,157
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Ratios
ROE (%)4.176.5212.9512.33.08-0.385.5418.4512.8131.17
ROCE (%)5.046.4810.5910.45.23.827.1514.2710.7525.15
Asset Turnover Ratio0.150.180.220.170.190.250.280.260.260.42
PAT to CFO Conversion(x)2.091.671.711.23.28N/A4.061.31.421.15
Working Capital Days
Receivable Days19192115182529282325
Inventory Days18137914161717179
Payable Days0000000000

The Great Eastern Shipping Company Ltd Stock News

The Great Eastern Shipping Company Ltd FAQs

Company share prices are keep on changing according to the market conditions. The closing price of GE Shipping on 28-Mar-2024 16:01 is ₹1,000.2.
Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 28-Mar-2024 16:01 the market cap of GE Shipping stood at ₹14,278.9.
The latest P/E ratio of GE Shipping as of 28-Mar-2024 16:01 is 6.43.
The latest P/B ratio of GE Shipping as of 28-Mar-2024 16:01 is 1.46.
The 52-week high of GE Shipping is ₹1,051.5 and the 52-week low is ₹610.5.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of GE Shipping is ₹4,223 ( Cr.) .

About The Great Eastern Shipping Company Ltd

The Great Eastern Shipping Company Ltd. 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. Backed by an enviable clientele comprising industry leaders, international oil companies and governments who vouch for its services, the division has earned the status of being the most preferred shipping service provider. With a pulse on the global market and a thorough understanding of the ever-evolving market needs, the division is well-equipped to anticipate the demands of its clients and to deliver on its commitments, successfully and satisfactorily. The company has been certified to ISO 9001: 2015, ISO 14001: 2015 and ISO 45001: 2018 standards by DNV.GL.

Business area of the company

The Great Eastern Shipping Company Ltd. is involved in the bulk shipping business i.e. transportation of crude oil, petroleum products, gas and dry bulk commodities. 

Milestones

  • 1992 - Received Government of India approval
  • 1993 - Obtained the licence from Coal India Limited (CIL)
  • 1994 to 1997 - Paid signature bonus of over $ 300,000 to CIL
  • 1994 to 1997 - Core-hole exploration, and tested commercial viability
  • 1998 - CBM administration shifted from ministry of coal to ministry of petroleum
  • 1998 - Submitted application for petroleum exploration licence
  • 2001 - Production sharing contract signed with the ministry of petroleum and natural gas
  • 2001 - Petroleum exploration licence was granted
  • 2002 - Started 3-pilot production well program
  • 2004 - Struck gas in the first well
  • 2004 - Gas observed in all the wells
  • 2005 - First Indian company to float on London AIM stock market
  • 2006 - Commenced commercial drilling program for 20 production wells.
  • 2006 - All 20 wells drilled and completed
  • 2007 - Finished installing pumps (PCP) in 20 wells
  • 2008 - Commissioned brand new rig (Atlas Copco RD 20 III) and commenced further development program.
  • 2010 - G E Shipping Modifies Hyundai Heavy Orders; To Build 3 VLCCs Instead Of 2 Suezmaxes.
  • 2011 - Greatship's Subsidiary Orders One Construction Support Vessel (Platform/Rov Support Vessel).
  • 2013 - G E Shipping Contracts To Build 3 New Building Kamsarmax Dry Bulk Carriers.
  • 2013 - Greatship Global Energy Services Pte. Ltd. (GGES), a Singapore incorporated step down subsidiary of the Great Eastern Shipping Company Limited, has informed the Company about being advised of the “Striking of Steel” of its Mobile Offshore Self Elevating Drilling Rig, at a globally reputed yard.
  • 2015 - Incorporation of A New Subsidiary By Greatship (India) Limited (GIL) namely Greatship Oilfield Services Limited.
  • 2015 - Incorporation Of A Wholly Owned Subsidiary namely Great Eastern CSR Foundation.
  • 2017 - Greatship Has Acquired Full Ownership Of Jack-Up Rigs Of Its Subsidiary, Greatship Global Energy Services Pte. Ltd (GGES).
  • 2019 - Great Eastern Shipping Company (G E Shipping) has delivered its 2000 built Suezmax Crude Carrier ‘Jag Lakshita’ to the buyers. The vessel was contracted for sale in November 2019.
  • 2020 - Great Eastern Shipping Company (GE Shipping) has signed a contract to buy a second hand Capesize Bulk Carrier. The 2014 Philippines built vessel is expected to join the company's fleet in H2 FY21.
  • 2020 - Great Eastern Shipping Company (GE Shipping) has signed a contract to buy a secondhand very large gas carrier of about 77,922 cbm. The 2002 Japanese built vessel is expected to join the company's fleet in Q3 FY21.
  • 2020 - Great Eastern Shipping Company (G E Shipping) has incorporated Wholly owned Subsidiary (WoS) company namely ‘Great Eastern Services in Mumbai on June 23, 2020.
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