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Last Updated on: 22 February, 2024|Author: Getaka | Social: X Twitter Profile

Fundamental Analysis of Great Eastern Shipping Company Ltd (GESHIP)

About the Company - Great Eastern Shipping Company Ltd (GESHIP)

Great Eastern Shipping Company Ltd. is a Public Limited Listed company incorporated on 03/08/1948 and has its registered office in the State of Maharashtra, India. Company’s Corporate Identification Number(CIN) is L35110MH1948PLC006472 and registration number is 006472. Currently Company is involved in the business activities of Sea and coastal freight water transport. Company’s Total Operating Revenue is Rs. 2832.03 Cr. and Equity Capital is Rs. 142.77 Cr. for the Year ended 31/03/2022.
INDUSTRYADDRESSCONTACT
ShippingOcean House, Mumbai Maharashtra 400018shares@greatship.com
http://www.greatship.com
Management
NamePosition Held
Mr. K M ShethChairman
Mr. Bharat K ShethDy. Chairman & Manag. Director
Mr. G ShivakumarExecutive Director & CFO
Mr. Tapas IcotExecutive Director
Dr. Shankar N AcharyaDirector
Mr. Ranjit Vasant PanditDirector
Mr. Shivshankar MenonDirector
Mr. T N NinanDirector
Mr. Uday ShankarDirector
Mr. Ravi K ShethDirector
Mrs. Rita BhagwatiDirector
Mrs. Bhavna DoshiDirector
Mr. Raju ShuklaDirector
Mr. Berjis DesaiDirector

Great Eastern Shipping Company Ltd. Share Price Update

Share PriceValue
Today₹922.30
Previous Day₹921.85

Basic Stock Data of Great Eastern Shipping Company Ltd (GESHIP)

Market Cap 13,388 Cr.
Current Price 938
High / Low1,044/532
Stock P/E5.59
Book Value 781
Dividend Yield3.08 %
ROCE20.9 %
ROE26.8 %
Face Value 10.0

Data Source: screener.in

Competitors of Great Eastern Shipping Company Ltd (GESHIP)

Stock NameMarket CapCurrent PriceHigh / LowStock P/EBook ValueDividend YieldROCEROEFace Value
Shipping Corporation of India Ltd 11,701 Cr. 251291/79.215.6 1530.17 %10.5 %13.4 % 10.0
Essar Shipping Ltd 581 Cr. 28.039.0/7.53 1300.00 %%% 10.0
Shreyas Shipping & Logistics Ltd 591 Cr. 269506/212 3570.55 %18.8 %25.4 % 10.0
SEAMEC Ltd 2,861 Cr. 1,1251,240/56245.6 3150.09 %3.35 %3.72 % 10.0
Industry Average296.25 Cr137.2515.3238.750.2%8.16%10.63%10

Great Eastern Shipping Company Ltd (GESHIP) Quarterly Results

MonthDec 2020Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
Sales7537407698859399161,3661,4471,4211,4561,2841,2291,245
Expenses510561484495527530628654625609492586595
Operating Profit243179285390412386738793796847792643650
OPM %32%24%37%44%44%42%54%55%56%58%62%52%52%
Other Income182113-21034767-152531019551232151
Interest627998857611193888577627767
Depreciation177168179184184151179181184167180187194
Profit before tax186455224200191450777629698601612540
Tax %5%-8%-146%0%-3%1%-1%1%0%-4%4%3%0%
Net Profit1764912223205189457769627722576595538
EPS in Rs12.003.330.8415.1813.9713.2332.0153.8543.9350.5740.3641.6537.70

Great Eastern Shipping Company Ltd (GESHIP) Quarterly Chart

Great Eastern Shipping Company Ltd (GESHIP) Profit & Loss

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023TTM
Sales2,9553,0073,0923,4383,8083,1173,0383,5473,6873,3373,5095,6905,214
Expenses2,0072,0421,6602,0051,8231,6861,8382,4802,4701,6831,9692,5632,282
Operating Profit9489651,4321,4331,9851,4311,2001,0671,2171,6531,5403,1282,932
OPM %32%32%46%42%52%46%40%30%33%50%44%55%56%
Other Income417556242276119506102269211232148481529
Interest437345375301288378455521450242370343283
Depreciation548592665610608678769773743700698712728
Profit before tax3795846337981,20888279422359436202,5542,450
Tax %15%8%9%6%9%14%367%151%12%3%-2%-1%
Net Profit3215385747481,097755-210-212079196302,5752,431
EPS in Rs20.7935.3038.0749.6372.7650.07-13.96-1.4214.0962.5044.09180.36170.28
Dividend Payout %31%21%24%22%19%20%-52%-380%57%14%22%16%

Great Eastern Shipping Company Ltd (GESHIP) Profit & Loss Yearly Chart

YoY Net Profit Growth
Year2012-20132013-20142014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-2023
YoY Net Profit Growth (%)67.60%6.69%30.31%46.66%-31.18%-127.81%90.00%1085.71%343.96%-31.45%308.73%
Change in YoY Net Profit Growth (%)0.00%-60.91%23.62%16.34%-77.83%-96.64%217.81%995.71%-741.75%-375.41%340.18%

Great Eastern Shipping Company Ltd (GESHIP) Growth

Compounded Sales Growth
10 Years:7%
5 Years:13%
3 Years:16%
TTM:1%
Compounded Profit Growth
10 Years:20%
5 Years:134%
3 Years:205%
TTM:24%
Stock Price CAGR
10 Years:11%
5 Years:27%
3 Years:52%
1 Year:55%
Return on Equity
10 Years:9%
5 Years:10%
3 Years:16%
Last Year:27%

Great Eastern Shipping Company Ltd (GESHIP) Balance Sheet

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Sep 2023
Equity Capital152152151151151151151151147147143143143
Reserves5,8446,1896,6227,2806,4137,0736,7776,6596,6497,5577,90910,13311,006
Borrowings6,4076,7396,1196,5405,7596,8166,2135,9995,2955,0474,6553,6493,496
Other Liabilities1,2781,3681,4841,5651,6101,3631,5231,5621,7421,3941,2621,2841,346
Total Liabilities13,68114,44914,37715,53513,93315,40214,66414,37013,83314,14513,96915,20915,990
Fixed Assets8,8329,6849,84210,8888,92510,3049,8099,6179,1239,0428,8778,4508,162
CWIP6442035822732822131412324243518
Investments1,3152,0261,1421,2509128758566019631,3501,1571,5101,599
Other Assets2,8902,7193,0353,1703,7684,2013,9864,1383,6243,7293,9105,2156,212
Total Assets13,68114,44914,37715,53513,93315,40214,66414,37013,83314,14513,96915,20915,990

Great Eastern Shipping Company Ltd (GESHIP) Reserves and Borrowings Chart

Great Eastern Shipping Company Ltd (GESHIP) Cash Flow

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Cash from Operating Activity 7451,2561,3581,4452,1511,5229691,0961,4811,5341,3232,975
Cash from Investing Activity -54-409-348-725-440-1,548-412429622-882-33739
Cash from Financing Activity -520-442-1,697-228-1,677713-1,158-1,020-1,872-505-1,189-1,893
Net Cash Flow171405-68849134687-602505230147-2031,120

Great Eastern Shipping Company Ltd (GESHIP) Financial Efficiency Indicators

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Debtor Days414532363024303134303337
Inventory Days
Days Payable
Cash Conversion Cycle414532363024303134303337
Working Capital Days-155-216-239-211-161-187-143-132-3511323
ROCE %6%6%7%8%11%8%4%4%4%9%7%21%

Great Eastern Shipping Company Ltd (GESHIP) Financial Efficiency Indicators Chart

Great Eastern Shipping Company Ltd (GESHIP) Share Holding Pattern

MonthMar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
Promoters29.21%29.21%29.21%29.21%30.06%30.07%30.08%30.08%30.08%30.08%30.08%30.08%
FIIs18.66%21.56%19.58%20.64%21.94%22.06%23.92%25.07%25.94%26.18%27.30%26.75%
DIIs25.13%21.76%23.95%21.83%20.36%20.64%18.58%17.13%17.04%16.66%15.91%16.39%
Government0.01%0.01%0.01%0.01%0.01%0.01%0.01%0.01%0.01%0.00%0.00%0.00%
Public26.98%27.46%27.25%28.31%27.63%27.21%27.41%27.71%26.93%27.08%26.72%26.76%
No. of Shareholders64,25577,74280,46580,76375,42871,25173,12679,34279,04185,12195,75798,047

Great Eastern Shipping Company Ltd (GESHIP) Shareholding Pattern Chart

No. of Great Eastern Shipping Company Ltd (GESHIP) Shareholders

Great Eastern Shipping Company Ltd (GESHIP) Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)
HDFC Small Cap Fund - Regular Plan65277642.38637.63
Kotak Small Cap Fund - Regular Plan28517871.98278.56
ICICI Prudential Value Discovery Fund26190900.68255.83
HDFC Balanced Advantage Fund - Regular Plan18831820.25183.95
ICICI Prudential India Opportunities Fund13529990.87132.16
SBI Dividend Yield Fund12000001.9117.22
Canara Robeco Small Cap Fund11703631.25114.32
UTI Value Fund8178960.9479.89
UTI Dividend Yield Fund7500002.0873.26
HDFC Multi Cap Fund6500000.5863.49

Great Eastern Shipping Company Ltd (GESHIP) ROCE Trend

Great Eastern Shipping Company Ltd (GESHIP) EPS Trend

Great Eastern Shipping Company Ltd (GESHIP) Key Financial Ratios

MonthMar 23Mar 22Mar 21Mar 20Mar 19
FaceValue10.0010.0010.0010.0010.00
Basic EPS (Rs.)180.3642.9962.5013.94-1.42
Diluted EPS (Rs.)180.0042.9962.3813.91-1.42
Cash EPS (Rs.)230.2392.99110.1664.6449.82
Book Value[Excl.RevalReserv]/Share (Rs.)719.71563.93524.21462.38451.63
Book Value[Incl.RevalReserv]/Share (Rs.)719.71563.93524.21462.38451.63
Revenue From Operations / Share (Rs.)398.57257.00227.02250.85235.25
PBDIT / Share (Rs.)252.74118.21128.2797.1788.61
PBIT / Share (Rs.)202.8669.3380.6246.6337.36
PBT / Share (Rs.)178.8643.4064.1415.992.79
Net Profit / Share (Rs.)180.3644.1062.5014.09-1.42
NP After MI And SOA / Share (Rs.)180.3644.1062.5014.09-1.42
PBDIT Margin (%)63.4145.9956.5038.7337.66
PBIT Margin (%)50.8926.9735.5118.5815.88
PBT Margin (%)44.8716.8828.256.371.18
Net Profit Margin (%)45.2517.1627.525.61-0.60
NP After MI And SOA Margin (%)45.2517.1627.525.61-0.60
Return on Networth / Equity (%)25.067.8211.923.04-0.31
Return on Capital Employeed (%)21.027.909.275.444.59
Return On Assets (%)16.934.506.491.49-0.14
Long Term Debt / Equity (X)0.290.490.570.700.71
Total Debt / Equity (X)0.350.570.570.700.71
Asset Turnover Ratio (%)0.370.220.210.230.21
Current Ratio (X)4.523.403.553.492.07
Quick Ratio (X)4.383.243.393.311.96
Dividend Payout Ratio (NP) (%)13.9731.504.3177.43-506.10
Dividend Payout Ratio (CP) (%)10.9414.942.4516.8814.45
Earning Retention Ratio (%)86.0368.5095.6922.57606.10
Cash Earning Retention Ratio (%)89.0685.0697.5583.1285.55
Interest Coverage Ratio (X)10.534.567.793.172.56
Interest Coverage Ratio (Post Tax) (X)8.512.704.791.460.95
Enterprise Value (Cr.)9010.946713.376235.855338.436187.48
EV / Net Operating Revenue (X)1.581.831.871.451.74
EV / EBITDA (X)2.503.983.313.744.63
MarketCap / Net Operating Revenue (X)1.611.341.380.821.20
Retention Ratios (%)86.0268.4995.6822.56606.10
Price / BV (X)0.890.610.590.440.62
Price / Net Operating Revenue (X)1.611.341.380.821.20
EarningsYield0.280.120.200.06-0.01

Great Eastern Shipping Company Ltd (GESHIP) Profitability Ratios (%)

Great Eastern Shipping Company Ltd (GESHIP) Liquidity Ratios

Great Eastern Shipping Company Ltd (GESHIP) Liquidity Ratios (%)

Great Eastern Shipping Company Ltd (GESHIP) Interest Coverage Ratios (X)

Great Eastern Shipping Company Ltd (GESHIP) Valuation Ratios

Fair Value / Intrinsic Value of Great Eastern Shipping Company Ltd (GESHIP)

Fair Value: ₹1206.07

The stock is undervalued by 28.58% compared to the current price ₹938

*Investments are subject to market risks

Strength and Weakness of Great Eastern Shipping Company Ltd (GESHIP)

StrengthWeakness
  1. The stock has a low average Working Capital Days of -120.17, which is a positive sign.
  2. The company has higher reserves (7,393.15 cr) compared to borrowings (5,594.92 cr), indicating strong financial stability.
  3. The company has shown consistent growth in sales (3.23 cr) and profit (400.00 cr) over the years.
  1. The stock is trading at a high valuation with an average P/B ratio of 87.36 and average Dividend Yield of 29.57%.
  2. The stock has a low average ROCE of 7.92%, which may not be favorable.
  3. The stock has a high average Cash Conversion Cycle of 33.58, which may not be favorable.

Should I Buy Great Eastern Shipping Company Ltd (GESHIP) Share Now?

  • Based on the analysis of various financial indicators, it may be worth considering investment in Great Eastern Shipping Company Ltd (GESHIP):
    1. Net Profit Margin: 45.25% (Higher values are generally favorable)
      • Net Profit Margin: This metric indicates the percentage of profit a company makes from its total revenue. A higher net profit margin is generally desirable as it reflects better profitability.
    2. ROCE: 21.02% (Industry Average ROCE: 8.16%)
      • ROCE (Return on Capital Employed): ROCE measures a company's profitability and the efficiency with which its capital is employed. A higher ROCE indicates efficient use of capital.
    3. Interest Coverage Ratio (Post Tax): 8.51 (Higher values, preferably > 2, are recommended)
      • Interest Coverage Ratio: The interest coverage ratio measures a company's ability to cover its interest payments on outstanding debt. A ratio greater than 2 is generally considered healthy as it indicates the company can meet its interest obligations comfortably.
    4. Quick Ratio: 4.38 (Higher values, preferably > 1, are recommended)
      • Quick Ratio: The quick ratio assesses a company's ability to cover its short-term liabilities with its most liquid assets. A ratio higher than 1 suggests the company can meet its short-term obligations without relying heavily on inventory.
    5. ✓ Stock P/E: 5.50 (Industry average Stock P/E: 15.5)
      • Stock P/E (Price-to-Earnings) Ratio: The P/E ratio compares a company's current share price to its earnings per share. A lower P/E ratio relative to industry peers or historical values may indicate that the stock is undervalued.
    6. ✓ Total Debt / Equity: 0.35 (Lower values, preferably < 1, are preferred)
      • Total Debt / Equity: This ratio measures a company's financial leverage by comparing its total debt to its total equity. A lower ratio indicates lower financial risk and greater financial stability.
    While these metrics suggest potential opportunity, it's essential to conduct thorough research or seek advice from financial experts before making any investment decisions.

About the Author

Author Avatar
Getaka

Getaka, CFA, a financial analyst with 15 years of experience in the industry. Getaka holds an MBA degree and the Chartered Financial Analyst designation, demonstrating his profound understanding of financial analysis and investment management. Throughout his career, he has conducted numerous financial analyses and due diligence processes for companies in the industry, and has a strong track record of identifying key trends and opportunities. He leverages his expertise to deliver a thorough financial analysis of a company, encompassing its financial performance, key ratios, future prospects, and risks. Getaka is committed to providing accurate, reliable, and trustworthy information to help readers make informed decisions about their finances and investments.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in Great Eastern Shipping Company Ltd (GESHIP). Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE