Low PE & high ROE multibagger stock in green as company takes delivery of a 2013 built medium range product tanker “Jag Priyanka”
The stock is up by 90.2 per cent from its 52-week low of Rs 725.40 per share and gave multibagger returns of 350 per cent in 3 years.
The Great Eastern Shipping Company Limited (G E Shipping) has expanded its fleet by taking delivery of the 2013-built medium-range product tanker "Jag Priyanka," a 49,990-dwt vessel acquired as per a contract signed in Q1 FY25. This acquisition, entirely financed through internal funds, brings G E Shipping's total fleet to 43 vessels, comprising 29 tankers (including six crude carriers, 19 product carriers, and four LPG carriers) and 14 dry bulk carriers (two Capesize, eight Kamsarmax and four Supramax), with a combined deadweight tonnage of 3.41 million. Notably, the company is also scheduled to sell one MR product tanker in Q3 FY25, a transaction initiated in July 2024.
Earlier, G E Shipping completed the sale of its 20-year-old Medium Range Product Tanker, "Jag Pranam." The vessel, which was built in 2004, was sold to undisclosed buyers by a sales contract signed in May 2024.
On Friday, shares of Great Eastern Shipping Company Limited gained 0.76 per cent to Rs 1,380 from its previous closing of Rs 1,369.55 with an intraday high of Rs 1,389.40 and an intraday low of Rs 1,351.30.
The Great Eastern Shipping Company Limited owns and operates cargo ships. The company's fleet of vessels includes bulk carriers, tankers and offshore supply vessels. The company also acts as an agent for several foreign shipping companies. The company has a market cap of over Rs 20,000 crore and has delivered good profit growth of 194 per cent CAGR over the last 5 years.
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According to Quarterly Results, the net sales increased by 17.5 per cent to Rs 1,508.2 crore and net profit increased by 41 per cent to Rs 812 crore in Q1FY25 compared to Q1FY24. In its annual results, the net sales decreased by 7.7 per cent to Rs 5,255.2 crore and net profit increased by 2 per cent to Rs 2,614.2 crore in FY24 compared to FY23.
The shares of the company have a PE of 7x and an ROE of 22 per cent. The stock is up by 90.2 per cent from its 52-week low of Rs 725.40 per share and gave multibagger returns of 350 per cent in 3 years. Investors should keep an eye on this Mid-Cap shipping stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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