Great Eastern Shipping : Q1FY24 Updates Presentation
August 03, 2023 at 10:44 am
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Q1FY24
Earnings Presentation
03 AUGUST 2023
DISCLAIMER
Except for historical information, the statements made in this presentation constitute forward looking statements. These include statements regarding the intent, belief or current expectations of GE Shipping and its management regarding the Company's operations, strategic directions, prospects and future results which in turn involve certain risks and uncertainties. Certain factors may cause actual results to differ materially from those contained in the forward looking statements; including changes in freight rates; global economic and business conditions; effects of competition and technological developments; changes in laws and regulations; difficulties in achieving cost savings; currency, fuel price and interest rate fluctuations etc. The Company assumes no responsibility with regard to publicly amending, modifying or revising the statements based on any subsequent developments, information or events that may occur.
GE Shipping - Q1FY24 Results
2
Q1FY24 HIGHLIGHTS
Net profits of INR 576 Cr on a consolidated basis
Our consolidated NAV has moved in Q1FY24 to INR 1202/share
Declared 1st Interim dividend of INR 12.90/Share for Q1FY2024 which includes special dividend of INR 7.50/Share to commemorate the 75th anniversary of the company
GE Shipping - Q1FY24 Results
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REPORTED HIGHLIGHTS
GE Shipping Q1FY24 consolidated Net Profit at INR 576 Cr
Declared 1st Interim dividend of INR 12.90/Share for Q1FY2024 which includes special dividend of INR7.50/Share
Standalone
Conslidated
Q1
Q1
Q1
Q1
Fig in INR Crores
FY24
FY23
FY23
FY24
FY23
FY23
Income Statement
Revenue*
1,109
1,165
5,096
1,335
1,398
6,171
EBITDA*
746
616
3,098
843
723
3,608
Net Profit
566
428
2,352
576
457
2,575
Balance Sheet
Total Assets
12,442
11,077
12,026
15,583
14,143
15,209
Equity
8,969
6,924
8,520
10,733
8,471
10,275
Gross Debt
2,515
3,173
2,531
3,550
4,380
3,623
Net Debt
(2,204)
71
(1,673)
(2,111)
421
(1,578)
Cash Flows
- From Operating Activities
681
444
2,715
742
475
3,155
- From Investing Activities
32
(24)
(16)
(14)
(36)
(70)
- From Financing Activities
(180)
(408)
(1,621)
(249)
(460)
(1,884)
Net Cash Inflow/Outflow
533
12
1,078
479
(21)
1,201
* Including Other Income
GE Shipping - Q1FY24 Results
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NORMALISED FINANCIALS
The impact of the exchange rate on foreign currency loans and current assets and liabilities, including cash and bank balances, has been removed
NCD & Currency Swap:
Funds raised through NCDs have been swapped into USD using INR-FCY swaps, thus creating synthetic fixed rate USD loans.
The MTM change of these swaps impacts the reported numbers.
Normalized numbers are worked out after making necessary adjustments to reported numbers to reflect the effective cost of the synthetic USD loans.
GE Shipping - Q1FY24 Results
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The Great Eastern Shipping Company Limited published this content on 03 August 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 03 August 2023 09:43:09 UTC.
The Great Eastern Shipping Company Limited is an India-based private sector shipping company. The Company provides for transportation of crude oil, petroleum products, gas and dry bulk commodities. The Company is engaged in shipping business segment. The Company customers include oil companies, refineries, manufacturers, miners and producers, among others. Its crude oil carriers include JAG LOK, JAG LALIT, JAG LEENA, JAG LAKSHYA, JAG LEELA and JAG LAXMI. The Company's product carriers include JAG LOKESH, JAG LARA, JAG AABHA, JAG AANCHAL, JAG AMISHA, JAG APARNA, JAG PANKHI, JAG PAHEL, JAG PRABHA, JAG PRANAM, JAG PRANAV, JAG POOJA, Jag Parth and JAG PADMA. Its LPG carriers include JAG VIKRAM, JAG VISHNU, JAG VASANT and JAG VIRAAT. Its Dry Bulk Carriers include JAG ANAND, JAG ALAIA, JAG AARATI and JAG ADITI. Its subsidiaries include The Greatship (Singapore) Pte. Ltd., The Great Eastern Chartering LLC (FZC), Greatship (India) Limited, Great Eastern CSR Foundation and others.