300 per cent returns in this low PE high ROE multibagger stock: This shipping company delivers its 2006 built Supramax Dry Bulk Carrier, Jag Rohan!

The stock gave multibagger returns of over 300 per cent in just 3 years with a PE of 4.91x and an ROE of 29.22 per cent.

The Great Eastern Shipping Company Limited (G E Shipping) has contracted to sell its 2006 built Supramax Dry Bulk Carrier, Jag Rohan of about 52,450 dwt on September 27, 2023, to an unaffiliated third party. On October 12, 2023, the company delivered its 2006-built Supramax Dry Bulk Carrier “Jag Rohan” to the buyers.

Including Jag Rohan, the company’s current fleet stands at 42 vessels, comprising 28 tankers (6 crude carriers, 18 product tankers, 4 LPG carriers) and 14 dry bulk carriers (2 Capesize, 7 Kamsarmax, 5 Supramax) aggregating 3.38 mn dwt.

Earlier, on September 15, 2023, the company contracted to purchase a 2008-built medium-range (MR) product tanker of approximately 46,197 deadweight tons (DWT). The vessel is expected to join the company's fleet in the third quarter of fiscal year 2024. The company's current capacity utilization is nearly 100 per cent.

Great Eastern Shipping Company Ltd, along with its subsidiaries is a major player in the Indian shipping and Oil drilling services industry. The company has a market cap of Rs 12,700 crore and has delivered good profit growth of 134 per cent CAGR over the last 5 years. The stock is trading at 1.19 times its book value and is providing a good dividend yield of 3.36 per cent with a healthy dividend payout of 17.6 per cent.

On Friday, shares of G E Shipping plunged 0.10 per cent to Rs 864.05 per share with an intraday high of Rs 873.75 and an intraday low of Rs 880.45.

The stock gave multibagger returns of over 300 per cent in just 3 years with a PE of 4.91x and an ROE of 29.22 per cent. Investors should keep an eye on this Mid-Cap stock.

Disclaimer: The article is for informational purposes only and not investment advice.