Great Eastern Shipping : Q3FY23 Updates Presentation

Q3 & 9M FY23 Earnings Presentation

01 February 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 - Q3 & 9MFY23 Results

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9MFY23 HIGHLIGHTS

• Highest ever 9 months net profit of INR 1853 cr on a consolidated basis
• First time ever our consolidated NAV has crossed INR 1000/share
• Highest ever dividend announced of INR19.80/share

GE Shipping - Q3 & 9MFY23 Results

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REPORTED HIGHLIGHTS

• GE Shipping 9MFY23 consolidated Net Profit at INR 1,853 Cr
• Declared 3rd interim dividend of INR 7.20/Share for FY2023

GE Shipping - Q3 & 9MFY23 Results

	Standalone			Conslidated
	Q3	Q3	9M		Q3	Q3	9M
Fig in INR Crores	FY23	FY22	FY23		FY23	FY22	FY23
Income Statement
Revenue*	1,261	774	3,828	1,522	932	4,620
EBITDA*	796	431	2,290	898	459	2,667
Net Profit	604	253	1,720	627	205	1,853
Balance Sheet
Total Assets	12,174	10,928	12,174	15,416	13,927	15,416
Equity	8,002	6,544	8,002	9,679	7,989	9,679
Gross Debt	2,998	3,486	2,998	4,153	4,695	4,153
Net Debt	(1,319)	352	(1,319)	(1,156)	810	(1,156)
Cash Flows
- From Operating Activities	782	423	1,973	857	429	2,256
- From Investing Activities	(98)	(72)	44	(72)	(92)	12
- From Financing Activities	(177)	(170)	(872)	(250)	(219)	(1,064)
Net Cash Inflow/Outflow	507	181	1,145	535	118	1,204

* Including Other Income

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NORMALISED FINANCIALS

• The impact of the exchange rate on foreign currency loans and current assets and liabilities, including cash and bank balances, has been removed
• NCD & Currency Swap:
• Funds raised through NCDs have been swapped into USD using INR-FCY swaps, thus creating synthetic fixed rate USD loans.
• The MTM change of these swaps impacts the reported numbers.
• Normalized numbers are worked out after making necessary adjustments to reported numbers to reflect the effective cost of the synthetic USD loans.

GE Shipping - Q3 & 9MFY23 Results

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