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Company provides shipping and logistic solution for dry bulk cargo at various Ports and Jetties at India and Sri Lanka. As of March 31, 2025, company have fleet of more than 80 vessels (consisting of barges, mini bulk carriers (MBCs), tug boats and floating cranes) and more than 370 earthmoving equipment (consisting of material handling machines, excavators, pay...
Shreeji Shipping Global, with an operational experience of three decades the coastal shipping and marine logistics business, has deep expertise in handling diverse range of dry bulk cargo including coal, clinker, salt, iron-ore, pet coke, sulphur, limestone and other commodities.
New initiatives to garner higher revenue growth During FY19, the company utilised 77% of the number of days (2501 days against a target of 3228 days) and it dredged 54.5 cu.m. against 63.9 cu.m. (85% utilisation). It has won 16 new contracts and completed 16 important contracts during FY19. Dredging Corp garners highest revenues from a maintenance dredging contract at Kolkata Port Trust (~|1120 crore for five years), followed by maintenance dredging contract at Cochin Shipyard (|110 crore for five years) and a capital dredging contract (|103 crore for 15...
Better fleet utilisation expected to continue in FY20 FY19 has been a moderate year for the company with FY19 revenues and EBITDA increasing (12%, 5% respectively) on a YoY basis. Dredging Corp garners highest revenues from a maintenance dredging contract at Kolkata Port Trust (~| 1120 crore for five years), followed by maintenance dredging contract at Cochin Shipyard (| 110 crore for five years) and a capital dredging contract (| 103 crore for 15 months). Overall, the company has commitments tied to over nine clients totalling over | 1680 crore to be...
ICICI Securities Ltd | Retail Equity Research Revenues grew 38% YoY at | 165 crore (I-direct estimate: | 132 crore), mainly due to better fleet utilisation & low base. The base quarter was impacted by employee strikes against privatisation of the company The EBITDA margin increased 290 bps to 23.4%, leading to an...
In our opinion, GESCO is one of the best capital allocators in the industry. The proof of the pudding lies in the eating and GESCO has demonstrated uncommon alacrity in timing the shipping cycles.
ICICI Securities Ltd | Retail Equity Research Revenues remained flat YoY at | 148 crore Optically, absolute EBITDA came in at a loss of | 46 crore vs. profit of | 41 crore in Q2FY18. However, adjusting for the one-off, EBITDA declined 6% to a profit of | 38 crore while adjusted EBITDA margin declined 132 bps to 25.7% and came in higher than I-direct estimate of 22%. The one-off was on the account of a provision of bad and doubtful debt, amounting to | 84 crore as receivable from Government...
ICICI Securities Ltd | Retail Equity Research Revenues de-grew 11% YoY to | 140 crore (I-direct estimate: | 150 crore). Revenue growth appears to have contracted after growing 17% YoY in Q4FY18, due to lower utilisation of fleet EBITDA margin declined 33 bps to 23.3% (I-direct estimate: 22%), mainly due to higher other expenses to sales ratio (58.7% in Q1FY19 vs 58.5% in Q1FY18). Absolute EBITDA de-grew 13% to | 33 crore (Idirect estimate: | 33 crore) Subsequently, PAT de-grew 28% to | 3 crore and was higher than Idirect estimate of | 2 crore...
However, PAT grew 358% to | 17 crore (I-direct estimate: | 3 crore), mainly due to higher other income (| 15 crore in Q4FY18 vs | 6 crore in Q4FY17) and lower tax rate (15% in Q4FY18 vs 36% in Q4FY17) EBITDA growth revival visible in FY18 For FY18, revenues were flattish with growth of 1% to | 592 crore vs. | 586 crore in FY17. However, the EBITDA margin has improved 280 bps YoY to 22.8% in FY18. The improvement in EBITDA margin has been owing to fuel expense as a percentage of sales declining 200 bps from...
In addition to a weak operational performance, higher interest expense (up 8% YoY) coupled with increase in depreciation (up 19% YoY) led DCI to report a loss of | 22.5 crore (I-direct estimate: | 2.1 crore) Sluggish YTD performance; revival to take some time DCI posted five-year low revenues of | 119.9 crore (vs. a normal run rate of | 140-160 crore. For 9MFY18, revenues de-grew 6% YTD to | 428.4 crore vs. | 455.7 crore in 9MFY17. However, benefiting from lower crude prices in FY18, EBITDA for the same period grew marginally by 6% YoY...
ICICI Securities Ltd | Retail Equity Research Revenues remained flattish YoY (up 2% QoQ) to | 161.3 crore (I-direct estimate: | 169 crore). The reported revenues includes an insurance claim of | 10.8 crore, adjusting for the same revenues stood at degrowth of 7% YoY to | 150.5 crore EBITDA, optically, more than quadrupled to | 51.4 crore as compared our estimate of | 40 crore. The Q2FY17 EBITDA was impacted by higher dry-docking resulting higher spares and stores expenses. Adjusted for the insurance claim, EBITDA stood at | 40.7 crore....
SCI has reported weak set of numbers for Q2FY18 despite improvement in macroeconomic environment and up-trend in shipping cycle. This is primarily due to poor strategy adopted by the company in placing its ships, improper capex plan and poor bargaining with customers. Sales was reported at Rs 8.08 bn (+6.5% YoY and -6.5% QoQ) with weakness in the key tanker segment despite upcoming winter in the west. This dragged the overall EBIDTA margin to 15.49% (-200 bps QoQ and -380 bps YoY) which is the lowest in the last 8 quarters. Consequently...
Reliance Naval & Engineering (RNEL) reported weak Q2FY18 results, which were below our estimates on all fronts Revenues came in | 83.3 crore, down 15.2% YoY. We estimated revenues of | 180 crore for the quarter on the back of revenue booking of patrol boats delivered to the Indian Navy during the quarter EBITDA came in at | 4.4 crore (I-direct estimate: | 16.2 crore). Interest expenses came in at | 167.7 crore, up 25.9% YoY, 11% QoQ as debt increased by | 80.7 crore over the past two quarters. The debt figure is...
Revenues for the quarter de-grew 9% YoY to | 737.6 crore (I-direct estimate: | 900.3 crore). Revenue from offshore, though it sequentially rebounded, de-grew 34% YoY (up 5% QoQ) to | 275.9 crore (I-direct estimate: | 386 crore). Revenues from the shipping segment grew for a third consecutive quarter (up 23% YoY, down 5% QoQ) to | 588.4 crore (I-direct estimate: | 514 crore) Fuel expenses more than doubled YoY to | 72.5 crore vs. | 34.8 crore in Q1FY17. Moreover, higher repairs & maintenance charges (up 77%...
ICICI Securities Ltd | Retail Equity Research Revenues sequentially grew 4.7% YoY (down 3.7% QoQ) to | 865 crore (I-direct estimate: | 828 crore). A sustained recovery in Baltic Dry Index (BDI) led its bulk segment revenues to nearly double to | 88.2 crore (vs. | 48 crore in Q1FY17). In addition to the same, the liner segment (which includes break bulk, container transport passenger vessels and research vessels) also nearly doubled to | 167 crore vs. | 90 crore in Q1FY17. Also, revenues from offshore grew...
ICICI Securities Ltd | Retail Equity Research Revenues grew 11% YoY and 21% QoQ to | 157.9 crore vs. our estimate: | 174.8 crore. Though revenue was lower than our estimate...
