The Great Eastern Shipping Company (500620) Q1 26/27 earnings summary

Executive summary

• Achieved record consolidated net profit of INR 1,309 crore and highest ever cash profit of INR 1,543 crore in Q1 FY27, with the 18th consecutive quarterly dividend declared at INR 14.40 per share.

• Unaudited consolidated and standalone financial results for the quarter ended June 30, 2026, were approved and reviewed by the Board and auditors.

• Net asset value (NAV) increased by about INR 100 per share, with consolidated NAV just under INR 1,900 per share.

• Maintained a strong cash position, with net cash of approximately $600 million after debt.

• Significant fleet changes included sale and purchase of multiple vessels during and after the quarter.

Financial highlights

• Consolidated revenue for Q1 FY27 was INR 2,286 crore, up from INR 1,337 crore in Q1 FY26; EBITDA rose to INR 1,619 crore from INR 778 crore year-over-year.

• Consolidated profit after tax was INR 1,308.84 crore, compared to INR 504.50 crore in the same quarter last year.

• Return on Equity (ROE) improved to 30% (consolidated), and Earnings Per Share (EPS) rose to INR 91.30.

• Net cash from operating activities was INR 1,207 crore, with net cash position of USD 593 million.

• NAV per share increased to INR 1,886 (consolidated).

Outlook and guidance

• No formal earnings guidance provided; management remains cautious about market forecasting.

• Fleet renewal prioritized over expansion, with a cautious approach to asset acquisitions amid elevated prices.

• Dividend payouts and NAV growth expected to continue, supported by strong cash flows.

• The Board and management remain focused on maintaining strong financial discipline and operational efficiency.

• 2Q27 revenue days covered: 46% for crude tankers, 61% for product tankers, 100% for LPG, and 57% for dry bulk; offshore coverage at 92% for vessels and 75% for rigs.