GE SHIPPING COMPANY Results Analysis-Q4FY26

$GESHIP Operating Revenue for Q4FY26 is Rs. 1,511 Crs. 23.58% growth YoY, Total Income is Rs. 1,857 Crs., 35.24% growth YoY, EBITDA is Rs. 1,287 Crs., 78.53% growth YoY, EBITDA Margin is 69.31% improved by 1,680 Basis points YoY, PBT Rs. 1,043 Crs. 163.37% growth YoY, PAT Rs. 1,044 Crs. 187.56% growth YoY. On QoQ basis Op. Revenue is up by 3.92%, Total Income is up by 6.95%, EBITDA is up by 15.16%, PBT is up by 23.16% and PAT is also up by 28.5%. Q4FY26 as “best ever quarter in terms of profits” and FY26 as the “best ever year in consolidated profits.” Dividend: declared highest-ever quarterly dividend of INR11.70/share, taking FY26 total dividend to INR35.10/share. Asset prices: management indicated ~10–20% increase during the quarter (driven by rate spike). Orderbook levels (approx.): • Crude + products: ~20% (± a couple) • LPG: 27% (management called it “high”) • Dry bulk: 13% Management highlighted strong cash position: “heavily net cash, $500 million stand-alone on a net cash basis.” Debt: group debt $157m as of Mar 31, expected to be repaid within ~2 years; some debt cannot be prepaid due to terms.