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A source-linked quarter view: reported numbers, management language, guidance, and the risks that should carry forward.
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Revenue
₹1,511 Cr
verified against source
Revenue YoY
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reported change
EBITDA
Pending
latest reported figure
Source
screener in
record provenance
Actual signal trajectory
Where this quarter sits.
Quarter read
What the record says.
Great Eastern Shipping reported its best-ever quarter and year in consolidated net profit, crossing ₹1,000 crore for the first time, driven by the Strait of Hormuz disruption which spiked tanker and LPG rates to multi-year highs. The company maintains a spot-heavy strategy (~80% of shipping days locked for FY27) and a net cash position of $500M standalone. NAV rose ~₹300 YoY to ₹1,422 standalone. Key risks include potential normalization of trade routes and ONGC tender delays for offshore rigs. Management remains disciplined on capital allocation, avoiding asset purchases at cycle peaks and preferring spot exposure over time charters.
Colored figures show movement against the previous available record.
Guidance to track
- Approximately 80% of vessel days for the current financial year have already been fixed, providing high revenue visibility.
- Three offshore rigs are due for contract repricing this fiscal year, with one already completed its short-term contract.
- Group debt of $157 million as of March 31, 2026, is expected to be fully repaid within the next two years.
Risks flagged
- If the Strait of Hormuz reopens, trade patterns could normalize, reducing tonne-mile demand and pressuring freight rates.
- ONGC has been slow in processing tenders, and rigs may face idle time between contracts if new awards are delayed.
- The crude tanker order book has increased to ~20% of fleet, with deliveries in CY27-28 potentially oversupplying the market.
Key quotes
- This is our best ever quarter in terms of profits. It is also the best ever year in consolidated profits.
- We predominantly remain spot. Opportunistically we do take time charters but from what we have seen, spot rates tend to outperform time charter rates.
- Current yield is a bit of a trap. We've bought when current yield was close to zero.
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