Great Eastern Shipping shares closed 1.2% higher at ₹1,500, nudging closer to Nomura’s ₹1,965 upside target.
Q1 net profit leapt 158% to ₹1,309 crore, up from ₹505 crore a year earlier; revenue surged 66.9% to ₹2,005.4 crore, while EBITA climbed to ₹1,337.7 crore, pushing the profit margin to 66.7% from 53.5%.
The company sits on a ₹8,000 crore cash pile, equivalent to 30% of its NAV and 38% of market cap, which Nomura believes can fund a fleet expansion as the downcycle turns.
All three analysts covering GE Shipping—Nomura, Kotak, and Axis—issue a "buy" rating, with Nomura offering the highest target price of ₹1,965, reflecting confidence in the firm’s disciplined asset‑acquisition strategy.
Looking ahead, GE Shipping expects to maintain robust EBITA margins in Q2, with a guidance call scheduled for next month; the firm is also exploring chartering opportunities amid the ongoing global trade disruptions.