Great Eastern Shipping Company Limited stands as India's largest private sector shipping company, owning and operating 43 ships and 23 offshore assets as of FY24. Founded in 1948 with the purchase of a Liberty ship, the company has evolved into India's largest private sector shipping service provider, enjoying a formidable presence in the international maritime industry.
Promoted by Mulji (Sheth) brothers and Bhiwandiwalla family, Great Eastern Shipping Company Limited is a major player in the Indian Shipping industry. The company operates through two primary business segments that form the backbone of its operations.
The Shipping business is involved in transportation of crude oil, petroleum products, gas, and dry bulk commodities. The Offshore business services to the oil companies in carrying out offshore exploration and production activities, through its subsidiary Greatship (India) Limited. The company operates in dry bulk carriers and tankers sectors, serving a wide range of top-tier clients.
The company's diverse fleet includes specialized vessels for different maritime operations:
- Its crude oil carriers include Jag Lok, Jag Lalit, Jag Leena, Jag Lakshya, Jag Leela, and Jag Laxmi.
- Its product carriers include Jag Lokesh, Jag Lara, Jag Aabha, Jag Aanchal, Jag Amisha, and others.
- Additionally, its LPG Carriers Include Jag Vikram, Jag Vishnu, Jag Vasant, and Jag Viraat, while its Dry Bulk Carriers include Jag Anand, Jag Alaia, Jag Aarati, and Jag Aditi.
The company has a market capitalization of ₹14,748 Crore as of recent data. Great Eastern Shipping has demonstrated resilience in navigating the cyclical nature of the shipping industry, though it faces challenges typical of the sector.
For Q4 FY25, Great Eastern Shipping Company Ltd's net profit fell -59.88% since last year same period to ₹363.09 Crore. Revenue stood at ₹1,223.04 Crore as on March 2025 (Q4 FY25). This represents a challenging period for the company, with a -38.84% fall in its net profits since the last 3-months.
Looking at the previous fiscal year's performance, the company's consolidated profit after tax (PAT) surged 25.37% to ₹905.08 Crore in the March quarter compared to ₹721.94 Crore last year in the same period for Q4 FY24. Consolidated revenue also grew, reaching ₹1,726.25 Crore in Q4 FY24 from ₹1,550.27 Crore in Q4 FY23. For the full year FY24, net profit saw a modest increase of 1.52% to ₹2,614.18 Crore in March 2024 against ₹2,575.01 Crore in March 2023.
- Market Cap: ₹14,748 Crore
- Q4 FY25 Revenue: ₹1,223.04 Crore
- Q4 FY25 Net Profit: ₹363.09 Crore
- Dividend for Q4 FY25: ₹5.40 per share with dividend yield of 4.21%.
Known for its quality services and customer satisfaction, the company is certified to ISO standards by DNV.GL, showcasing its commitment to excellence and operational efficiency. This certification underscores the company's dedication to maintaining international standards in its operations.
The shipping industry is inherently cyclical and subject to various market forces. The business is heavily exposed to currency fluctuations. Both earnings and expenses are in USD, mirroring freight rates and ship values. Even liabilities are USD-denominated. This exposes the company to financial swings caused by currency movements. While some natural hedging exists, foreign exchange and derivative risks remain.
Promoter holding in Great Eastern Shipping Company Ltd has remained stable at 30.07% as of March 2025 (unchanged from June 2024). The company's Chairperson is K M Sheth, and it has been listed since November 3, 1994.
GE Shipping's future is well positioned with a youthful fleet, a diverse service portfolio, and a strong global presence. The company's strategic focus on maintaining a modern fleet and diversified operations positions it to capitalize on recovery in shipping markets. Analysts highlighted strong fundamentals, including a substantial cash position and positive cash flow, supporting a bullish outlook.
Despite the challenges faced in recent quarters, their financial health and strategic positioning suggest they are well-equipped to navigate the challenges of the shipping industry. The company's established presence in both domestic and international markets, combined with its comprehensive fleet and offshore capabilities, provides a solid foundation for future growth as global trade and energy demand continue to evolve.
