Great Eastern Shipping : Q1FY24 Updates Presentation

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

3

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

4

NORMALISED FINANCIALS

1. The impact of the exchange rate on foreign currency loans and current assets and liabilities, including cash and bank balances, has been removed

1. NCD & Currency Swap:

1. Funds raised through NCDs have been swapped into USD using INR-FCY swaps, thus creating synthetic fixed rate USD loans.

1. The MTM change of these swaps impacts the reported numbers.

1. 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

5