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The Great Eastern Shipping Company Q2 FY27 results: net profit up 118.3% to ₹1,269 crore, revenue up 46.9%
The Great Eastern Shipping Company Limited reported consolidated revenue of ₹1,824 crore and a net profit of ₹1,269 crore for Q2 FY27, up 46.9% and 118.3% year on year, respectively. EBITDA rose to ₹1,157 crore and the margin increased to 63.4%, while profit declined from the previous quarter.
Key points
- Consolidated Q2 FY27 revenue was ₹1,824 crore, up 46.9% from ₹1,242 crore in Q2 FY26.
- EBITDA was ₹1,157 crore, up 59.0% year on year, with the margin rising to 63.4% from 58.6%.
- Net profit was ₹1,269 crore, up 118.3% year on year but down 3.0% from ₹1,309 crore in Q1 FY27.
- Basic EPS was ₹89.11, compared with ₹40.72 in Q2 FY26 and ₹91.68 in Q1 FY27.
- The board declared a second interim dividend of ₹14.40 per share for FY 2026-27.
How did The Great Eastern Shipping Company perform in Q2 FY27?
The Great Eastern Shipping Company reported consolidated revenue of ₹1,824 crore in Q2 FY27, up 46.9% from ₹1,242 crore in Q2 FY26. EBITDA rose to ₹1,157 crore from ₹728.05 crore, while the margin increased to 63.4% from 58.6%. Profit before tax was ₹1,296 crore, compared with ₹600.68 crore, and the net profit was ₹1,269 crore against ₹581.41 crore.
Against Q1 FY27, revenue fell 9.0% to ₹1,824 crore from ₹2,005 crore. EBITDA declined 13.5% to ₹1,157 crore from ₹1,338 crore, and the margin fell to 63.4% from 66.7%. Net profit was down 3.0% at ₹1,269 crore, and basic EPS was ₹89.11 compared with ₹91.68. On a standalone basis, revenue was ₹1,336.41 crore and profit was ₹1,026.52 crore.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 1,824 | 2,005 | 1,242 | +46.9% | −9.0% |
| Other income | 409.23 | 280.85 | 140 | +192.3% | +45.7% |
| Total expenses | 937.78 | 921.43 | 781.10 | +20.1% | +1.8% |
| EBITDA | 1,157 | 1,338 | 728.05 | +59.0% | −13.5% |
| EBITDA margin | 63.4% | 66.7% | 58.6% | +4.8 pp | −3.3 pp |
| Profit before tax | 1,296 | 1,365 | 600.68 | +115.7% | −5.0% |
| Tax | 26.64 | 55.94 | 19.27 | +38.2% | −52.4% |
| Net profit | 1,269 | 1,309 | 581.41 | +118.3% | −3.0% |
| EPS (₹) | 89.11 | 91.68 | 40.72 | +118.8% | −2.8% |
EBITDA here is revenue from operations less operating costs (total expenses excluding finance costs and depreciation): before other income and exceptional items. Growth is shown only when both figures are positive. Source: Company's results filing (XBRL).
What changed in The Great Eastern Shipping Company's costs and profit?
Total expenses increased 20.1% year on year to ₹937.78 crore, compared with ₹781.10 crore in Q2 FY26. Employee cost rose by ₹36.67 crore to ₹251.61 crore, depreciation increased by ₹28.92 crore to ₹252.65 crore, and other expenses rose by ₹116.78 crore to ₹415.57 crore. Finance costs fell by ₹25.69 crore to ₹17.95 crore, and there was no exceptional item in either period.
Other income increased by ₹269.23 crore to ₹409.23 crore from ₹140 crore, while total income rose by ₹851.87 crore to ₹2,233.65 crore from ₹1,381.78 crore. The filing reported profit on sale of ships and other assets, net, of ₹307.90 crore in Q2 FY27, compared with ₹0.12 crore in Q2 FY26, and other income of ₹101.33 crore compared with ₹139.88 crore. Tax expense rose by ₹7.37 crore to ₹26.64 crore, while net profit increased by ₹687.82 crore to ₹1,269 crore.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 0 | 0 | 0 | |
| Employee cost | 251.61 | 214.94 | +36.67 | +17.1% |
| Finance costs | 17.95 | 43.64 | −25.69 | −58.9% |
| Depreciation | 252.65 | 223.73 | +28.92 | +12.9% |
| Other expenses | 415.57 | 298.79 | +116.78 | +39.1% |
| Total expenses | 937.78 | 781.10 | +156.68 | +20.1% |
| Other income | 409.23 | 140 | +269.23 | +192.3% |
| Tax | 26.64 | 19.27 | +7.37 | +38.2% |
Source: Company's results filing (XBRL).
How did the first half of FY27 go?
For H1 FY27, consolidated revenue rose 56.7% to ₹3,829.78 crore from ₹2,443.25 crore in H1 FY26. Total income increased 66.3% to ₹4,519.86 crore from ₹2,718.66 crore, while profit before tax rose 134.1% to ₹2,660.65 crore from ₹1,136.64 crore.
Net profit for the first half increased 137.4% to ₹2,578.07 crore from ₹1,085.91 crore. Basic EPS rose 137.7% to ₹180.79 from ₹76.06. The results include ₹432.74 crore of profit on sale of ships and other assets, net, compared with ₹0.21 crore in H1 FY26.
| ₹ crore | H1 FY27 | H1 FY26 | Change |
|---|---|---|---|
| Revenue from operations | 3,830 | 2,443 | +56.7% |
| Profit before tax | 2,661 | 1,137 | +134.1% |
| Net profit | 2,578 | 1,086 | +137.4% |
| EPS (₹) | 180.79 | 76.06 | +137.7% |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
Total assets increased to ₹21,170.75 crore at 30 September 2026 from ₹19,460.16 crore at 31 March 2026. Total equity rose to ₹18,932.41 crore from ₹16,962.49 crore, while borrowings fell to ₹799.57 crore from ₹1,049.37 crore. Cash and cash equivalents increased to ₹4,842.08 crore from ₹4,336.9 crore.
Operating cash flow in H1 FY27 was ₹2,487.88 crore, compared with ₹1,243.31 crore in H1 FY26. Investing cash flow was negative ₹1,221.31 crore against negative ₹401.61 crore, and financing cash flow was negative ₹1,022.39 crore against negative ₹1,241.15 crore. Capital expenditure was ₹1,540.62 crore, compared with ₹380.06 crore.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 21,171 | 19,460 |
| Total equity | 18,932 | 16,962 |
| Borrowings | 799.57 | 1,049 |
| Cash and equivalents | 4,842 | 4,337 |
| Inventories | 291.95 | 285.91 |
| Trade receivables | 604.19 | 639.18 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | 2,488 | 1,243 |
| Cash from investing | −1,221 | −401.61 |
| Cash from financing | −1,022 | −1,241 |
| Capital expenditure | 1,541 | 380.06 |
Source: Company's results filing (XBRL).
How has The Great Eastern Shipping Company done over the last 8 quarters?
Revenue reached its highest point in the reported period at ₹2,005.36 crore in Q1 FY27 before falling to ₹1,824.42 crore in Q2 FY27. It had reached its lowest point at ₹1,201.47 crore in Q1 FY26. Revenue rose year on year in each of the last four quarters, while profit rose year on year in each of the last five quarters.
Net profit reached its highest point at ₹1,308.84 crore in Q1 FY27 before easing to ₹1,269.23 crore in Q2 FY27. Its lowest point in the reported period was ₹363.09 crore in Q4 FY25. The EBITDA margin peaked at 66.7% in Q1 FY27 and fell to 63.4% in Q2 FY27, after its low of 41.0% in Q4 FY25.
Which businesses drove the quarter?
Shipping revenue rose 75.6% year on year to ₹1,845.38 crore from ₹1,050.71 crore in Q2 FY26. Segment EBIT increased to ₹1,117.81 crore from ₹488.52 crore, and the EBIT margin was 60.6%.
Offshore revenue rose 17.7% to ₹398.16 crore from ₹338.23 crore in Q2 FY26. Segment EBIT increased to ₹151.42 crore from ₹92.89 crore, with an EBIT margin of 38.0%.
| Segment | Revenue | Revenue YoY | EBIT | EBIT margin |
|---|---|---|---|---|
| Shipping | 1,845 | +75.6% | 1,118 | 60.6% |
| Offshore | 398.16 | +17.7% | 151.42 | 38.0% |
Source: Company's results filing (XBRL segment data).
What else did the company announce?
The board approved the unaudited provisional financial results for the quarter and half year ended 30 September 2026 and declared a second interim dividend of ₹14.40 per share for FY 2026-27. The record date is 13 November 2026, and the dividend is to be paid on or after 1 December 2026.
A separate buyback filing said the company bought back 192,000 shares on 5 November 2026 at an average price of ₹1,507.0785, taking the cumulative total to 40,40,694 shares. The company also scheduled an earnings call for 11 November 2026, when the Executive Director and Chief Financial Officer was to discuss financial performance and take questions from senior management.
How did other Shipping companies do?
Six other Shipping companies that had filed for the quarter had a median revenue growth of 52.0%. Three grew revenue more slowly than The Great Eastern Shipping Company, while three grew faster. Profit was higher at three of the six peers, with profit compared across six companies.
| The Great Eastern Shipping Company revenue growth (YoY) | +46.9% |
|---|---|
| Median of 6 other Shipping companies | +52.0% |
| Companies with slower revenue growth than The Great Eastern Shipping Company | 3 of 6 |
| Companies with faster revenue growth than The Great Eastern Shipping Company | 3 of 6 |
| Companies whose net profit rose | 3 of 6 |
Source: Filed results (XBRL) of the industry's companies.
Quick answers
What was The Great Eastern Shipping Company's revenue in Q2 FY27?
Revenue from operations was ₹1,824 crore, up 46.9% from ₹1,242 crore in Q2 FY26 (consolidated).
Did The Great Eastern Shipping Company make a profit in Q2 FY27?
Yes. Net profit was ₹1,269 crore, against a net profit of ₹581.41 crore in Q2 FY26.
What was The Great Eastern Shipping Company's EPS in Q2 FY27?
Basic earnings per share were ₹89.11, against ₹40.72 in Q2 FY26.
When did The Great Eastern Shipping Company announce its Q2 FY27 results?
On 6 November 2026, in a filing to the NSE.
Sources
- Board Meeting Intimation for For The Board Meeting To Be Held On November 06, 2026 (BSE, 3 November 2026) · PDF
- Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation (BSE, 5 November 2026) · PDF
- Outcome of Board Meeting (NSE, 6 November 2026) · PDF
- Dividend (NSE, 6 November 2026) · PDF
- Record Date (NSE, 6 November 2026) · PDF
How this was written: every figure in the tables and charts is calculated from the company’s filed results (XBRL) and MarketPing’s price measurements. The text is drafted with AI from those figures and the filings, and a checker removes any sentence carrying a number it cannot trace to them. How we write these.
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