The Great Eastern Shipping Company (500620) Q4 24/25 earnings summary

Executive summary

• Q4 FY2025 consolidated net profit was INR 363 Cr, with consolidated NAV at INR 1,406/share as of March 31, 2025.

• FY25 consolidated net profit was Rs. 2,344.26 crore, with strong liquidity and an unmodified auditor opinion.

• The 13th consecutive quarterly dividend was declared at INR 5.40 per share, totaling INR 29.70/share for FY25.

• Key management and secretarial auditor appointments were affirmed.

Financial highlights

• Q4FY25 consolidated revenue was INR 1,373 Cr, down from INR 1,727 Cr in Q4FY24; full-year consolidated revenue was Rs. 5,322.54 crore, up from Rs. 5,255.17 crore.

• Q4FY25 consolidated EBITDA was INR 695 Cr (normalized: INR 699 Cr), and net profit was INR 363 Cr (normalized: INR 428 Cr).

• FY25 standalone net profit was Rs. 2,166.25 crore, compared to Rs. 2,316.34 crore in FY24.

• Earnings per share (consolidated, basic) for FY25 was Rs. 164.20; standalone was Rs. 151.73.

• Cash flows from operating activities for FY25 were INR 2,784 Cr (consolidated: Rs. 2,647.36 crore), with net cash inflow of INR 1,334 Cr.

Outlook and guidance

• Asset prices remain high, with management waiting for further corrections before major acquisitions.

• The company aims to maintain or grow fleet capacity, focusing on replacement until prices are attractive.

• At least a 10% IRR is targeted for new ship acquisitions.

• Board affirmed compliance with all financial covenants and security cover requirements.