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.

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%...

Great Eastern Shipping Company Ltd Q1FY18 results comment Revenue decreased by 1.16% to Rs. 729.82 Cr in Q1FY18 when compared to the previous quarter.

ICICI Securities Ltd | Retail Equity Research GE Shipping's Q4FY17 revenues de-grew 15% YoY to | 746.5 crore (Idirect estimate: | 853 crore). Offshore revenues continued to tread down for a seventh consecutive quarter with a decline of 37.4% YoY to | 262 crore (lowest since FY13). Revenues from the shipping segment grew 13% YoY to | 622.8 crore Higher fuel expenses (up 27% YoY) and lowest ever utilisation levels in offshore segment resulted in EBITDA de-growth of 23% YoY to | 328.2 crore (vs. I-direct estimate: | 443.6 crore). EBITDA margins...

ICICI Securities Ltd | Retail Equity Research Gesco's revenues for Q2FY17 de-grew 23% YoY to | 749.4 crore (Idirect estimate: | 833.7 crore). On account of historic low utilisation levels for offshore segment, revenues of the segment de-grew 22.5% YoY to | 357.5 crore. However, with a recovery in BDI and tanker rates, revenues from the shipping segment grew 6% YoY to | 569.4 crore. Total revenue days for the shipping & offshore segment were at 3428 days and 1723 days, respectively Lower utilisation levels in the offshore segment coupled with higher...

Revenue fell by 6.97% to Rs. 738.91 Cr in Q3FY17 when compared to the previous quarter. Also, it fell by 23.18% when compared with Q3FY16.

ICICI Securities Ltd | Retail Equity Research Gesco's Q2FY17 revenues de-grew 21% YoY to | 814 crore (I-direct estimate: | 786 crore). On the account of historical low utilisation levels for offshore segment, revenues for this business continue to degrow by 20% YoY to | 383 crore. However, adding to woes were shipping revenues that de-grew 11% YoY to | 580 crore. Revenue...

ICICI Securities Ltd | Retail Equity Research Gesco's Q1FY17 revenues de-grew 16% YoY (down 8% QoQ) to | 808 crore (I-direct estimate: | 936 crore). Offshore revenues continued to decline for a fourth consecutive quarter. Offshore revenues for Q1FY17 de-grew 18% YoY (down 4% QoQ) to | 402 crore. However, due to a decline in tanker rates, shipping revenues de-grew 10% YoY (down 3% QoQ) to | 497 crore. Revenue days for shipping and offshore segment was at 2915 days and 1983, respectively...

Buy Great Eastern Shipping Company Ltd CMP at Rs. Rs. 335 and Add on Dips of Rs. 300-310 for the Sequential Targets Rs. 380-427.

ICICI Securities Ltd | Retail Equity Research Gesco's results for Q4FY16 were significantly lower than our estimates. Revenues remained flattish YoY (down 8% QoQ) to | 877...