Q3 2025 Great Eastern Shipping Company Ltd Earnings Call Transcript
Key Points
- Great Eastern Shipping Co Ltd (BOM:500620) reported a solid quarter with net profits of INR594 crore.
- The company declared a third interim dividend of INR8.10 per share, marking the twelfth consecutive quarter of dividends.
- The company maintains a strong net cash position, with approximately $500 million on a standalone basis, positioning it well for potential market downturns.
- Despite a drop in fleet value, the company's standalone net asset value (NAV) has increased year-on-year, showing resilience.
- The vessels business continues to deliver good profitability, with repricing of contracts at higher levels than previous agreements.
- Consolidated net asset values decreased slightly over the quarter, indicating a drop in asset prices.
- The tanker markets underperformed during the winter of 2024-2025, with earnings lower than expected.
- Asset prices have dropped by about 15%, particularly affecting older assets, which could impact future valuations.
- The dry bulk market remained weak, with sub-capes struggling due to stagnant iron ore trade and reduced demand from China.
- The order book for new ships is high, potentially leading to oversupply in the coming years, which could pressure freight rates.
Good evening, ladies and gentlemen. Thank you for standing by. Welcome to GE Shipping earnings call on declaration of its financial results for the quarter ended December 31, 2024. (Operator Instructions)
I now hand over the conference to Mr. G. Shivakumar, Executive Director and CFO at the Great East Shipping Company Limited to start the proceedings. Thank you and over to you, sir.
Good afternoon, everyone and welcome to this quarterly conference call. We'll run through the presentation and then, of course, we're very happy to take your questions.
We had a solid quarter, again, with net profits of INR594 crore for the quarter. Consolidated net asset values at INR1,418, it's down, a little bit, over the September number. And we've declared a third interim dividend of INR8.10 paisa per share. This is now the twelfth consecutive quarter that we've declared a quarterly dividend.
Hello, are you able to hear me now?
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