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Last Updated on: 23 June, 2024|Author: Getaka | Social: X Twitter Profile

Fundamental Analysis of Great Eastern Shipping Company Ltd (GESHIP)

Basic Stock Data

Last Updated: June 16, 2024, 10:22 pm

Market Cap 17,358 Cr.
Current Price 1,216
High / Low1,241/692
Stock P/E6.64
Book Value 868
Dividend Yield2.37 %
ROCE20.2 %
ROE23.1 %
Face Value 10.0
PEG Ratio0.10

Competitors of Great Eastern Shipping Company Ltd (GESHIP)

Stock NameMarket CapCurrent PriceHigh / LowStock P/EBook ValueDividend YieldROCEROEFace Value
SEAMEC Ltd 2,889 Cr. 1,1361,240/60724.1 3580.09 %12.6 %14.1 % 10.0
Essar Shipping Ltd 925 Cr. 44.748.0/10.2 1360.00 %151 %% 10.0
Chowgule Steamships Ltd 109 Cr. 29.936.5/13.1310 15.70.00 %3.05 %% 10.0
Shreyas Shipping & Logistics Ltd 762 Cr. 347506/230 3490.43 %0.80 %6.40 % 10.0
Shipping Corporation of India Ltd 12,351 Cr. 265291/96.818.2 1620.17 %8.18 %9.40 % 10.0
Industry Average3,407.20 Cr364.5270.46204.140.14%35.13%5.98%10.00

Quarterly Result

MonthMar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
Sales7407698859399161,3661,4471,4211,4561,2841,2291,2451,497
Expenses561484495527530628654625609492586595561
Operating Profit179285390412386738793796847792643650937
OPM %24%37%44%44%42%54%55%56%58%62%52%52%63%
Other Income113-21034767-152531019551232151229
Interest799885761119388857762776759
Depreciation168179184184151179181184167180187194166
Profit before tax455224200191450777629698601612540942
Tax %-8%-146%0%-3%1%-1%1%0%-4%4%3%0%4%
Net Profit4912223205189457769627722576595538905
EPS in Rs3.330.8415.1813.9713.2332.0153.8543.9350.5740.3641.6537.7063.40

Last Updated: June 10, 2024, 3:30 am

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: May 27, 2024, 6:12 am

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Sales3,0073,0923,4383,8083,1173,0383,5473,6873,3373,5095,6905,255
Expenses2,0421,6602,0051,8231,6861,8382,4802,4701,6831,9692,5632,234
Operating Profit9651,4321,4331,9851,4311,2001,0671,2171,6531,5403,1283,022
OPM %32%46%42%52%46%40%30%33%50%44%55%58%
Other Income556242276119506102269211232148481664
Interest345375301288378455521450242370343265
Depreciation592665610608678769773743700698712726
Profit before tax5846337981,20888279422359436202,5542,694
Tax %8%9%6%9%14%367%151%12%3%-2%-1%3%
Net Profit5385747481,097755-210-212079196302,5752,614
EPS in Rs35.3038.0749.6372.7650.07-13.96-1.4214.0962.5044.09180.36183.11
Dividend Payout %21%24%22%19%20%-52%-380%57%14%22%16%20%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2013-20142014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-2024
YoY Net Profit Growth (%)6.69%30.31%46.66%-31.18%-127.81%90.00%1085.71%343.96%-31.45%308.73%1.51%
Change in YoY Net Profit Growth (%)0.00%23.62%16.34%-77.83%-96.64%217.81%995.71%-741.75%-375.41%340.18%-307.22%

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:12%
5 Years:31%
3 Years:48%
1 Year:59%
Return on Equity
10 Years:9%
5 Years:10%
3 Years:16%
Last Year:27%

Last Updated: May 2, 2024, 10:04 am

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

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

Free Cash Flow

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Free Cash Flow959.00-5.00-5.00-4.00-5.00-5.00-4.00-4.00-4.00-3.000.000.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Debtor Days453236302430313430333745
Inventory Days
Days Payable
Cash Conversion Cycle453236302430313430333745
Working Capital Days-216-239-211-161-187-143-132-3511323168
ROCE %6%7%8%11%8%4%4%4%9%7%21%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthJun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
Promoters29.21%29.21%29.21%30.06%30.07%30.08%30.08%30.08%30.08%30.08%30.08%30.08%
FIIs21.56%19.58%20.64%21.94%22.06%23.92%25.07%25.94%26.18%27.30%26.75%27.41%
DIIs21.76%23.95%21.83%20.36%20.64%18.58%17.13%17.04%16.66%15.91%16.39%16.60%
Government0.01%0.01%0.01%0.01%0.01%0.01%0.01%0.01%0.00%0.00%0.00%0.00%
Public27.46%27.25%28.31%27.63%27.21%27.41%27.71%26.93%27.08%26.72%26.76%25.91%
No. of Shareholders77,74280,46580,76375,42871,25173,12679,34279,04185,12195,75798,0471,00,251

Shareholding Pattern Chart

No. of Shareholders

Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)Previous Number of SharesPrevious DatePercentage Change
HDFC Small Cap Fund - Regular Plan6,527,7642.38637.632,619,0902024-06-17149.24%
Kotak Small Cap Fund - Regular Plan2,851,7871.98278.562,619,0902024-06-178.88%
ICICI Prudential Value Discovery Fund2,619,0900.68255.832,619,0902024-06-170%
HDFC Balanced Advantage Fund - Regular Plan1,883,1820.25183.952,619,0902024-06-17-28.1%
ICICI Prudential India Opportunities Fund1,352,9990.87132.162,619,0902024-06-17-48.34%
SBI Dividend Yield Fund1,200,0001.9117.222,619,0902024-06-17-54.18%
Canara Robeco Small Cap Fund1,170,3631.25114.322,619,0902024-06-17-55.31%
UTI Value Fund817,8960.9479.892,619,0902024-06-17-68.77%
UTI Dividend Yield Fund750,0002.0873.262,619,0902024-06-17-71.36%
HDFC Multi Cap Fund650,0000.5863.492,619,0902024-06-17-75.18%

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 24Mar 23Mar 22Mar 21Mar 20
FaceValue10.0010.0010.0010.0010.00
Basic EPS (Rs.)183.11180.3642.9962.5013.94
Diluted EPS (Rs.)182.74180.0042.9962.3813.91
Cash EPS (Rs.)233.96230.2392.99110.1664.64
Book Value[Excl.RevalReserv]/Share (Rs.)868.35719.71563.93524.21462.38
Book Value[Incl.RevalReserv]/Share (Rs.)868.35719.71563.93524.21462.38
Revenue From Operations / Share (Rs.)368.09398.57257.00227.02250.85
PBDIT / Share (Rs.)258.12252.74118.21128.2797.17
PBIT / Share (Rs.)207.26202.8669.3380.6246.63
PBT / Share (Rs.)188.72178.8643.4064.1415.99
Net Profit / Share (Rs.)183.10180.3644.1062.5014.09
NP After MI And SOA / Share (Rs.)183.10180.3644.1062.5014.09
PBDIT Margin (%)70.1263.4145.9956.5038.73
PBIT Margin (%)56.3050.8926.9735.5118.58
PBT Margin (%)51.2744.8716.8828.256.37
Net Profit Margin (%)49.7445.2517.1627.525.61
NP After MI And SOA Margin (%)49.7445.2517.1627.525.61
Return on Networth / Equity (%)21.0825.067.8211.923.04
Return on Capital Employeed (%)19.3321.027.909.275.44
Return On Assets (%)15.5516.934.506.491.49
Long Term Debt / Equity (X)0.190.290.490.570.70
Total Debt / Equity (X)0.240.350.570.570.70
Asset Turnover Ratio (%)0.320.370.220.210.23
Current Ratio (X)5.444.523.403.553.49
Quick Ratio (X)5.274.383.243.393.31
Dividend Payout Ratio (NP) (%)0.0013.9731.504.3177.43
Dividend Payout Ratio (CP) (%)0.0010.9414.942.4516.88
Earning Retention Ratio (%)0.0086.0368.5095.6922.57
Cash Earning Retention Ratio (%)0.0089.0685.0697.5583.12
Interest Coverage Ratio (X)13.9210.534.567.793.17
Interest Coverage Ratio (Post Tax) (X)10.888.512.704.791.46
Enterprise Value (Cr.)12419.389010.946713.376235.855338.43
EV / Net Operating Revenue (X)2.361.581.831.871.45
EV / EBITDA (X)3.372.503.983.313.74
MarketCap / Net Operating Revenue (X)2.721.611.341.380.82
Retention Ratios (%)0.0086.0268.4995.6822.56
Price / BV (X)1.150.890.610.590.44
Price / Net Operating Revenue (X)2.721.611.341.380.82
EarningsYield0.180.280.120.200.06

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Fair Value

Fair Value: 1,362.93

Calculation basis:

  • Fair value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100)
  • P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
  • Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance
  • Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
  • Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.

This formula allows us to gauge the fair value of the stock by analyzing its fundamental indicators.

Undervalued: 12.08% compared to the current price 1216

Intrinsic Value: 2,276.32

Calculation basis:

  • Fair value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100) * (1 + EPS CAGR for Last 5 Years)
  • P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
  • Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
  • Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
  • Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.
  • EPS CAGR (Compound Annual Growth Rate): Represents the geometric mean growth rate of earnings per share over the last 5 years. It provides insight into the historical growth trajectory of the company's earnings.

This formula allows us to gauge the fair value of the stock by analyzing its fundamental indicators along with EPS growth.

Undervalued: 87.20% compared to the current price ₹1216

Last 5 Year EPS CAGR: 67.02%

*Investments are subject to market risks

Strength and Weakness

StrengthWeakness
  1. The stock has a low average Working Capital Days of -93.25, which is a positive sign.
  2. The company has higher reserves (7,626.33 cr) compared to borrowings (5,489.92 cr), indicating strong financial stability.
  3. The company has shown consistent growth in sales (3.33 cr) and profit (401.75 cr) over the years.
  1. The stock has a low average ROCE of 7.42%, which may not be favorable.
  2. The stock has a high average Cash Conversion Cycle of 33.92, which may not be favorable.

Stock Analysis

  • Considering all of the following key financial indicators, prospective investors are encouraged to conduct thorough research and seek professional guidance before considering any investment in Great Eastern Shipping Company Ltd (GESHIP):
    1. Net Profit Margin: 49.74%
      • 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: 19.33% (Industry Average ROCE: %)
      • 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. ROE%: 21.08% (Industry Average ROE: %)
      • ROE (Return on Equity): ROE measures a company's profitability relative to shareholders' equity. A higher ROE indicates efficient use of shareholders' funds.
    4. Interest Coverage Ratio (Post Tax): 10.88
      • 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.
    5. Quick Ratio: 5.27
      • 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.
    6. ✗ Stock P/E: 6.64 (Industry average Stock P/E: )
      • 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.
    7. Total Debt / Equity: 0.24
      • 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.
    The current analysis is available for review. It's important to conduct thorough research and consider consulting with financial professionals before making any investment decisions.
    Stock Rating:

About the Company

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

FAQ

What is the latest fair value of Great Eastern Shipping Company Ltd (GESHIP)?

The latest fair value of Great Eastern Shipping Company Ltd (GESHIP) is ₹1362.93.

What is the Market Cap of Great Eastern Shipping Company Ltd (GESHIP)?

The Market Cap of Great Eastern Shipping Company Ltd (GESHIP) is 17,358 Cr..

What is the current Stock Price of Great Eastern Shipping Company Ltd (GESHIP) as on 23 June 2024?

The current stock price of Great Eastern Shipping Company Ltd (GESHIP) as on 23 June 2024 is ₹1,216.

What is the High / Low of Great Eastern Shipping Company Ltd (GESHIP) stocks in FY 2024?

In FY 2024, the High / Low of Great Eastern Shipping Company Ltd (GESHIP) stocks is 1,241/692.

What is the Stock P/E of Great Eastern Shipping Company Ltd (GESHIP)?

The Stock P/E of Great Eastern Shipping Company Ltd (GESHIP) is 6.64.

What is the Book Value of Great Eastern Shipping Company Ltd (GESHIP)?

The Book Value of Great Eastern Shipping Company Ltd (GESHIP) is 868.

What is the Dividend Yield of Great Eastern Shipping Company Ltd (GESHIP)?

The Dividend Yield of Great Eastern Shipping Company Ltd (GESHIP) is 2.37 %.

What is the ROCE of Great Eastern Shipping Company Ltd (GESHIP)?

The ROCE of Great Eastern Shipping Company Ltd (GESHIP) is 20.2 %.

What is the ROE of Great Eastern Shipping Company Ltd (GESHIP)?

The ROE of Great Eastern Shipping Company Ltd (GESHIP) is 23.1 %.

What is the Face Value of Great Eastern Shipping Company Ltd (GESHIP)?

The Face Value of Great Eastern Shipping Company Ltd (GESHIP) is 10.0.

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