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The Great Eastern Shipping Company Ltd. Stock Analysis

Small Cap
Evaluated by 1487 users | BSE: 500620 | NSE: GESHIP |
Shipping
Great Eastern Energy Corporation was incorporated on May 29, 1992. It is a part of the YKM Holdings Group. This was the first Indian company that got listed on the London Stock Exchange's Alternative Investment Market (AIM).Great Eastern Energy is a private sector shipping and offshore...

Analysis of Financial Track Record

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 not performed well majority of the past ten years indicating its past ten year financial track record is not good
Value Creation
 Mar'11Mar'12Mar'13Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20
Return on Capital Employed 2.82%2.69%2.33%3.09%4.48%9.51%8.04%2.15%2.5%7.02%
Growth Parameters
Growth Parameters Colour Code Guide
Net Sales (Rs. Cr.) 1,3821,7101,7351,4931,7341,9721,7042,0612,6512,871
Y-o-Y Gr. Rt.-23.7%1.5%-14%16.2%13.8%-13.6%21%28.6%8.3%
Adjusted EPS (Rs.) 10.133.143.857.2615.240.3834.08-1.69-1.3527.44
Y-o-Y Gr. Rt.--69%22.6%88.6%109.4%165.7%-15.6%-105%NANA
Book Value per Share (Rs.) 361.42336.89328.31318.76327.02306.41342.35346.56335.97344.77
Adjusted Net Profit 15447.958.6109229609514-25.5-20.4403
Net Op. Cash Flow (Rs. Cr.) 7061205014295301,0577195246741,142
Debt to Cash Flow from Ops 5.1232.37.247.715.792.726.168.056.093.15
Standalone financials take only the parent company into account while consolidated financials take into account financials of the parent company as well as of all its subsidiaries. In most companies consolidated financials should be used for analysis.
The Great Eastern Shipping Company Ltd. should be analysed on a Standalone basis
CAGR
CAGR Colour Code Guide
  9 yrs 5 yrs 3 yrs 1 yr
Net Sales 8.5%10.6%19%8.3%
Adjusted EPS 11.7%12.5%-7%NA
Book Value per Share -0.51.10.22.6
Share Price 1.8% -7.5% -13.3% -15.2%
Key Financial Parameter
Performance Ratio Colour Code Guide
 Mar'11Mar'12Mar'13Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20
Return on Equity (%) 2.840.91.162.234.7112.7510.51-0.49-0.47.96
Operating Profit Margin (%) 33.5328.4324.8533.0432.5549.243.0431.4728.9641.42
Net Profit Margin (%) 11.172.83.387.3413.2230.8730.16-1.24-0.7714.05
Debt to Equity 0.660.760.730.690.620.620.860.810.810.71
Working Capital Days 73556567716471919999
Cash Conversion Cycle 844-41-6-11082
Entity Percentage Holding
Promoters 29.49%
Institutions 44.21%
Non-Institutions 26.31%
Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

MoneyWorks4Me analysed the past 10-year performance of The Great Eastern Shipping Company Ltd. and arrived at the following conclusion:

Past 10 year's financial track record indicates that The Great Eastern Shipping Company Ltd. is a below average quality company. However, for specific investment actions please connect with your investment advisor.

The 5-year analysis of The Great Eastern Shipping Company Ltd.'s performance infers:

The Great Eastern Shipping Company Ltd. earnings have grown by 12.5%, whereas share price has depreciated -7.5% CAGR over the past five years, indicating the company's share price is likely undervalued. However, for specific investment actions please connect with your investment advisor.

We analysed the performance of The Great Eastern Shipping Company Ltd. share prices over the last 10 years. Here is what we found out:

The Great Eastern Shipping Company Ltd. share price has depreciated -3.8% annually over the past ten years.

Great Eastern Energy Corporation was incorporated on May 29, 1992. It is a part of the YKM Holdings Group. This was the first Indian company that got listed on the London Stock Exchange's Alternative Investment Market (AIM).

Great Eastern Energy is a private sector shipping and offshore oilfield services provider. The company is presently exploring and developing production wells for coal-bed methane (CBM) in Damodar Valley (Raniganj coalfield), near the city of Asansol, West Bengal.

The

Great Eastern Energy Corporation was incorporated on May 29, 1992. It is a part of the YKM Holdings Group. This was the first Indian company that got listed on the London Stock Exchange's Alternative Investment Market (AIM).

Great Eastern Energy is a private sector shipping and offshore oilfield services provider. The company is presently exploring and developing production wells for coal-bed methane (CBM) in Damodar Valley (Raniganj coalfield), near the city of Asansol, West Bengal.

The company has two business divisions; namely, shipping and offshore oilfield services. The shipping division is engaged in transporting crude oil, petroleum products, gas and dry bulk commodities. The offshore oil field service division offers services to the oil companies in carrying out offshore exploration and production activities by providing exploratory drilling rigs, offshore support vessels, tugs and construction barge. The shipping business has been awarded the ISO 9001: 2000 standard certification by DNV.

GEECL has struck gas and begun sales of CBM for the first time in India. The Gas-in-Place is 2 TCF as reported by Netherland, Sewell & Associates, Inc.

Subsidiaries of the Company:

GE Shipping has four subsidiaries internationally with offices in London, Singapore, Sharjah and India.

Following are the names of the wholly-owned subsidiaries: • Great Ship (India) • Great Eastern Shipping Co, London • Great Ship (Singapore), Singapore • Great Eastern Chartering LLC - FZC, Sharjah.

Milestones:

  • Dec 1992 - Received Government of India approval
  • Dec 1993 - Obtained the licence from Coal India Limited (CIL)
  • Jan 1994 - 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
  • Sep 1998 - Submitted application for petroleum exploration licence
  • May 2001 - Production sharing contract signed with the ministry of petroleum and natural gas
  • Nov 2001 - Petroleum exploration licence was granted
  • Apr 2002 - Started 3-pilot production well program
  • Jan 2004 - Struck gas in the first well
  • July 2004 - Gas observed in all the wells
  • Dec 2005 – First Indian company to float on London AIM stock market
  • Jan 2006 – Commenced commercial drilling program for 20 production wells.
  • December 2006 – All 20 wells drilled and completed
  • January 2007 – Finished installing pumps (PCP) in 20 wells
  • July 14, 2007 - Commenced sales
  • January 2008 - Commissioned brand new rig (Atlas Copco RD 20 III) and commenced further development program.
Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323

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