Operates a dry bulk shipping business running Supramax-category vessels for cargo movement, with operations spanning Indian and international waters. Revenue from operations grew 21.5% in FY26 to Rs 7,093.78 million from Rs 5,840.82 million in FY25, while profit after tax rose more modestly to Rs 1,526.96 million from Rs 1,439.62 million, signalling some margin compression. The company completed its main-board IPO in August 2025, raising Rs 4,107.1 million, with Rs 2,511.79 million earmarked for further acquisition of dry bulk Supramax carriers — that amount remained fully unutilised as of March 31, 2026. The dominant cost line is 'materials' at 62.1% of revenue, while employee costs are unusually low at 1.4% and depreciation 3.7%, indicating an asset-heavy but workforce-lean operating model. The Income Tax Department has approved the Tonnage Tax Scheme, under which the company will be taxed on tonnage rather than profits. A new 51%-owned subsidiary, Shreeji Tisha Maritime Private Limited, was incorporated during FY26. A contingent liability of up to Rs 6,289.27 million is disclosed from an admiralty suit relating to disputed vessel charter agreements, currently sub-judice. AR · MarketPing reader · 2026-08-03
Revenue streams, as the annual report describes them. India shipping operations, International shipping operations. Cyclical, asset-heavy dry bulk shipping
| ₹ crore · consolidated | FY26 |
|---|---|
| Revenue | 709 |
| EBITDA (ex other income) | 213 |
| margin % | 30.1 |
| Owners' profit | 153 |
| EPS, as reported (₹) | 9.75 |
| ROE % · ROCE % | 19.9 · 24.6 |
| Debt / equity (x) | 0.34 |
| Cash from operations | 191 |
| Capex | 0 |
| ₹ crore | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|
| Revenue | 161 | 162 | 198 | 188 | 209 |
| Profit before tax | 50 | 48 | 54 | 46 | 57 |
| Net profit | 37 | 43 | 32 | 40 | 44 |
| EPS (₹) | 2.54 | 2.78 | 1.99 | 2.48 | 2.72 |
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| THE GE SHPG.LTD | 20,188 | 5.4 | 1.19 | 4.2 | 17.3 | 16.7 | 10.1 | 80.7 |
| SHIPPING CORP OF INDIA LT | 13,087 | 8.1 | 1.44 | 5.9 | 14.9 | 12.5 | 9.3 | 53.8 |
| SHREEJI SHIPPING GLOBAL L ◆ | 11,235 | 69.2 | 14.61 | 47.3 | 19.9 | 22.4 | — | 33.6 |
| SEAMEC LIMITED | 4,567 | 17.8 | 3.50 | 10.8 | 19.4 | 17.3 | 30.0 | 48.5 |
| TRANSWORLD SHIP LINES LTD | 362 | — | 0.54 | 11.5 | (11.1) | (7.7) | (0.4) | 54.5 |
| ESSAR SHIPPING LTD | 338 | 4.0 | — | — | 5.4 |
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 7 Sept 2026 · New Time Charter with AMNS for Coastal Steel Cargo | business updates | high | — | — |
| 7 Sept 2026 · AGM notice and Annual Report weblink sent to shareholders without registered email | compliance | minimal | — | — |
| 7 Sept 2026 · Shreeji Shipping submits 2nd Annual Report for FY 2025-26 | results | high | — | — |
| 7 Sept 2026 · Shreeji Shipping 2nd AGM on Sep 29; seeks nod for borrowing and related party deals | board shareholder meetings | low | — | — |
| 7 Sept 2026 · Newspaper ads published for 2nd AGM notice - AGM on Sept 29, 2026 | compliance | minimal | — | — |
| 7 Sept 2026 · Newspaper notice published for 2nd Annual General Meeting on Sept 29, 2026 | compliance | minimal | — | — |
| 6 Sept 2026 · Board clears FY26 Directors Report, fixes AGM on Sep 29 | capital market events | high | — | — |
| 27 Aug 2026 · Promoters to sell 2% stake to meet minimum public shareholding norms | ownership changes | high | — | — |
| 14 Aug 2026 · Q1 FY27 results: Revenue up 30%, PAT at Rs 443 mn; auditor appointments approved | board shareholder meetings | medium | — | — |
| 5 Aug 2026 · Board meeting on Aug 14, 2026 to consider Q1 FY27 results | results | low | — | — |
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) |
| 20.7 |
| (67.3) |
| 638250.0 |
| GARWARE OFFSHORE SERVICES LIMI | 133 | 13.4 | 1.07 | 13.7 | (7.4) | (4.8) | (14.4) | 24.9 |
| CHOWGULE STEAMSHIPS LTD. | 80 | 23.1 | 4.54 | — | 28.8 | 20.8 | — | 70.4 |
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 69.2 | 13.4 | 8 of 9 | 13% |
| P/B | 14.6 | 2.5 | 7 of 8 | 14% |
| ROCE | 22.4 | 14.6 | 1 of 10 | 100% |
| ROE | 19.9 | 15.5 | 2 of 10 | 89% |
| Debt / Equity | 0.3 | 0.3 | 6 of 10 | 44% |
| EBITDA margin | 33.6 | 51.1 | 7 of 10 | 33% |
| Revenue growth | 29.6 | 39.1 | 6 of 9 | 38% |
| Profit growth | 19.0 | 73.0 | 7 of 10 | 33% |
| Market cap | 11235 | 350 | 3 of 10 | 78% |
| A state: the latest filed quarter and the measured reactions |
| an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.
