PRESS RELEASE
GE Shipping Q1FY16 consolidated Net Profit at Rs.323.67 crs
The Board of Directors of The Great Eastern Shipping Company Ltd. (G E Shipping) today approved the
Results for quarter ended 30th June, 2015.
KEY HIGHLIGHTS:
Standalone
Q1FY'16 Q1FY'15
Consolidated
494.02
218.44
87.61
(Amount in Rs. crs)
Income Statement
Revenue (including other income)
EBITDA (including other income)
Net Profit
9441.84
4935.22
3243.79
224.09
Balance Sheet
Total Assets
Equity
Total Debt (Gross)
Long Term Debt (Net of Cash)
15782.08
7809.97
6399.65
2575.18
14693.12
7047.71
6149.32
2452.73
219.25
(616.97)
(79.09)
(476.81)
109.40
66.70
(112.07)
64.03
Cash Flow
From operating activities
From investing activities
From financing activities
Net cash inflow/(outflow)
433.76
(553.49)
(300.20)
(419.93)
302.24
(154.59)
(59.97)
87.68
53.19%
12.94%
10.23%
0.60
0.02
63.15
63.65
44.22%
7.19%
6.61%
0.66
0.05
59.74
60.18
Key financial figures
EBITDA Margin (%)
Return on Equity (ROE) (%)
Return on Capital Employed (ROCE) (%)
Gross Debt/Equity Ratio (x)
Net Debt/Equity Ratio (x)
Exchange rate USD/INR, average (Rs)
Exchange rate USD/INR, end of period (Rs)
56.94%
16.99%
11.17%
0.82
0.33
63.15
63.65
51.72%
12.90%
9.15%
0.87
0.35
59.74
60.18
21.47
21.42
32.17
-
14.79
14.76
24.24
4.00
541.42
287.98
162.16
9496.54
5091.54
3050.16
98.05
10.75
10.73
15.83
-
5.81
5.80
10.63
4.00
Share related figures
Earnings per share, EPS (Rs)
Diluted earnings per share (Rs)
Cash Profit per share (Rs)
Dividend per share (Rs)
Q1FY'16
Q1FY'15
1026.87
584.73
323.67
906.05
468.57
222.93
Performance Review of Q1 FY 2015-16:
Break up of Revenue days (Shipping):
Revenue Days
Q1’FY16 Q1’FY15
Owned Tonnage
Inchartered Tonnage
Total Revenue Days
2,574
68
2,642
2,602
0
2,602
Total Owned Tonnage (mn.dwt)*
2.36
2.37
* As on 30th June, 2015
Average TCY’s earned over last 12 months in various categories:
Average (TCY $ per day) Q1’FY16
Crude Carriers
Product Carriers (Incl. Gas)
Dry Bulk
32,485
22,402
7,423
Q4’FY15 Q3’FY15 Q2’FY15
30,324
23,034
7,717
19,237
24,061
10,772
20,263
20,537
9,337
Q1’FY15
16,477
15,554
12,878
FLEET DEVELOPMENT:
Sale & Purchase Activities during Q1 FY2015-16:
During the quarter:
•
In June 2015, the company took delivery of a new building Kamsarmax Dry Bulk Carrier “Jag
Arnav”. The vessel of about 81,600 dwt was built at Tsuneishi Heavy Industries (Cebu) Inc.,
Philippines.
Subsequent to the quarter:
•
In August 2015, the company contracted to sell a new building Kamsarmax Dry Bulk Carrier “Jag
Aakash” (81,600 dwt). The vessel is being built at Tsuneishi Heavy Industries (Cebu) Inc.,
Philippines and will be delivered to the company in August/September 2015. It will subsequently
be delivered by the company to the new buyers.
FLEET PROFILE: as on date
Categories
No. of ships Avg age
(years)
Crude Carriers
Product Carriers
Gas Carriers
TANKERS TOTAL
8
12
1
21
12.2
8.4
21.0
11.0
Kamsarmax
Supramax
DRY BULK TOTAL
4
5
9
3.0
8.4
5.5
TOTAL FLEET
(2.36 mn dwt)
30
9.6
REVENUE VISIBILITY:
The revenue visibility for balance of FY 2015-16 is around Rs.392 crores.
The operating days in the Shipping division were covered for the balance part of the year at the following
levels – crude at 31%, product carriers (including gas carriers) at 48% and dry bulk at 26%.
SUBSIDIARIES: Greatship (India) Limited (GIL):
GIL and its subsidiaries currently own and operate assets in the following categories.
Categories
No. of assets
Offshore Logistics
- Platform Supply Vessels (PSV)
5
- Anchor Handling Tug cum Supply Vessels (AHTSV)
8
- Multipurpose Platform Supply and Support Vessels (MPSSV)
2
- Platform/ ROV Support Vessels (ROVSV)
6
Drilling Services
-350 ft Jackup Rigs
4
Total
25
FLEET DEVELOPMENT:
Sale & Purchase Activities during Q1 FY2015-16:
During the quarter:
•
In June 2015, Greatship (India) Limited (GIL), a wholly owned subsidiary of The Great Eastern
Shipping Company Limited, sold and delivered the 2009-built 80T AHTSV "Greatship Akhila", to
the buyers.
Break up of Revenue Days (Offshore)
Revenue Days
Q1FY16
Q1FY15
Offshore Logistics
Drilling Services
Total
1,808
359
2,167
1,777
273
2,050
REVENUE VISIBILITY:
The revenue visibility for balance of FY 2015-16 is around Rs. 1,286.7 crores.
Category-wise coverage of operating days
Category
Extent of coverage of
fleet's operating days
(per cent)
PSV
ROVSV
AHTSV
MPSSV
Jackup Rigs
90
100
85
33
97
Place: Mumbai
Date: 12th August, 2015
--------------------------------- Visit us at www.greatship.com -----------------------------------For further details, please email us at [email protected]
Q1 FY16 Earnings Call scheduled at 10:00 am (IST) on Thursday, 13th August 2015.
To participate, kindly dial (+91) - 22 – 67934400