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The Great Eastern Shipping Company (500620) investor relations material
The Great Eastern Shipping Company Q2 25/26 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Consolidated net profit for Q2 FY26 was INR 581 crore, with NAV per share at INR 1,484 and an interim dividend of INR 7.20 declared for the 15th consecutive quarter.
Revenue for Q2 FY26 was INR 1,253 crore, with EBITDA at INR 770 crore and net profit at INR 581 crore on a consolidated basis.
Standalone profit remained flat sequentially but was lower year-over-year due to reduced capacity, rates, and absence of prior year’s profit on sale of ships.
The results were reviewed by the Audit Committee and received a limited review from statutory auditors, with no material misstatements identified.
Offshore business continued to contribute positively, with most vessels fixed at strong levels and four vessels on short-term contracts performing well.
Financial highlights
Q2 FY26 consolidated revenue was INR 1,253 crore, up from INR 950 crore in Q2 FY25, with EBITDA at INR 770 crore and net profit at INR 581 crore.
Operating cash flow for H1 FY26 was INR 1,303 crore; net cash outflow in Q2 FY26 was INR 272 crore.
Cash profit for the year was INR 165 crore standalone and INR 200 crore consolidated, with INR 28 crore paid out.
Net cash position stands at about $550 million, and share price to consolidated NAV is at 0.73.
Dividend payout for H1 was lower than last year, reflecting lower profitability.
Outlook and guidance
Most tankers and dry bulk vessels are operating in the spot market, with LPG carriers fully fixed and jackup rigs largely covered for the year.
Revenue coverage for Q3 FY26: Crude Carriers 57%, Product Carriers 58%, LPG Carriers 100%, Dry Bulk 59%.
Two 20-year-old tankers are committed for sale, and the first Ultramax bulk carrier purchase will be delivered by Q4 FY26.
The company continues to invest in fleet expansion and modernization, with several vessel acquisitions and sales contracted during and after the quarter.
No forecast on rates, but management remains prepared to act quickly if market opportunities arise.
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