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India's largest private shipping company operating crude/product tankers and dry bulk carriers, plus offshore oilfield services.
India's largest private shipping company operating crude/product tankers and dry bulk carriers, plus offshore oilfield services.
Owns its ships outright and earns freight, either chartering them out for fixed daily hire or trading in the spot market. It also profits from timing purchases and sales of vessels, buying second-hand ships in weak markets and selling older ones in strong ones. Results swing with freight rates.
In one line: India's private-sector shipping major, akin to a smaller Teekay/Frontline.
Moat: narrow (scale, installed base). Large, diversified fleet and decades of shipping operations expertise, though rates are commodity-cyclical.
Headquarters: Mumbai, India · Founded: 1948 · Employees: 2,176
Size Great Eastern Shipping (GESHIP.NS) is an India Industrials company (Marine Shipping) with a market value of $2.16B, the 358th largest of 1,058 India companies the cockpit tracks. Shares closed at ₹1,429 on 6 Nov 2026.
Performance Over six months the shares fell 8.0%, against +3.9% for the median peer and 0.0% for the India market (cap-weighted) — 5th lowest of 21 in its peer set.
Growth Revenue grew 23.9% over the last twelve months (peer median +10.3%); the operating margin is 42.5% (peer median 21.5%).
Valuation It trades at 5.1× forward earnings against a peer median of 8.7× (3rd cheapest of 19).
Price implies For today's price to make sense, revenue must grow about 8% a year for seven years (Req g). Recent delivered growth is +10%, so the hurdle is -2 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 1.8 points below its cost of capital (13.4% WACC).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ₹62.1B | ₹54.1B | ₹53.2B | ₹52.6B | ₹56.9B |
| Revenue growth | — | +2% | +1% | -8% | — |
| Gross profit | ₹34.5B | ₹23.6B | ₹22.6B | ₹24.5B | ₹27.0B |
| EBITDA | ₹35.6B | ₹29.0B | ₹26.9B | ₹28.5B | ₹30.9B |
| Net income | ₹37.5B | ₹29.4B | ₹23.4B | ₹26.1B | ₹25.8B |
| Free cash flow | n/a | ₹5.88B | ₹15.1B | ₹18.8B | ₹22.8B |
| Capital expenditure | n/a | ₹23.7B | ₹11.8B | ₹8.45B | ₹4.65B |
| Total debt | n/a | ₹10.9B | ₹21.6B | ₹30.5B | ₹36.5B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Great Eastern Shipping GESHIP.NS | $2.16B | -8% | +24% | 42% | 5.1× | 8.2% |
| Shipping Corporation of India SCI.NS | $1.29B | -18% | +17% | 24% | n/a | n/a |
| Frontline FRO | $10.1B | +15% | +49% | 49% | 4.2× | -12.5% |
| Teekay Tankers TNK | $2.97B | +3% | +19% | 39% | 3.5× | n/a |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | GESHIP.NS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -8.9% | -9.6% | 11th highest of 21 |
| 6-month return | -8.0% | +3.9% | 5th lowest of 21 |
| Distance from 52-week high | -20.5% | -17.1% | 8th lowest of 21 |
| Revenue growth (TTM) | +23.9% | +10.3% | 2nd highest of 20 |
| Operating margin | 42.5% | 21.5% | 4th highest of 21 |
| Forward P/E | 5.1× | 8.7× | 3rd cheapest of 19 |
| Growth the price implies (Req g, 7 yrs) | 8.2% | -3.5% | 3rd most demanding of 17 |
| Growth delivered (Del g) | +10.1% | +9.9% | 8th highest of 17 |
| Hurdle (Req g minus delivered) | -2.0 pp | -14.8 pp | 4th most demanding of 17 |
| ROIC minus cost of capital | -1.8 pp | +1.8 pp | 5th lowest of 21 |
| EV / EBITDA | 5.7× | 6.8× | 7th cheapest of 15 |
| Net debt / EBITDA | -2.0× | 1.5× | 2nd least indebted of 16 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Great Eastern Shipping GESHIP.NS | India | $2.16B | -8% | +24% | 42% | 5.1× | 8.2% | +10.1% |
| Wisdom Marine Lines 2637.TW | Taiwan | $2.13B | +28% | +10% | 33% | 9.1× | -1.8% | +7.2% |
| Pacific Basin Shipping 2343.HK | Hong Kong | $2.22B | +6% | -6% | 6% | 9.0× | 7.9% | +7.3% |
| Navios Maritime Partners LP NMM | United States | $2.42B | +14% | +19% | 39% | 3.9× | n/a | n/a |
| PanOcean 028670.KS | South Korea | $1.91B | -12% | +24% | 9% | 5.0× | n/a | n/a |
| Clarkson CKN.L | United Kingdom | $1.90B | -5% | +15% | 14% | 13.9× | 5.2% | +12.0% |
| T.S. Lines 2510.HK | Hong Kong | $2.48B | +38% | -4% | 19% | 5.8× | -6.9% | +9.8% |
| Nanjing Tanker 601975.SS | China | $2.50B | -21% | +12% | 26% | 9.0× | -8.4% | +7.6% |
| Sumitomo Warehouse 9303.T | Japan | $1.87B | +4% | +2% | 6% | 16.3× | 11.3% | +0.4% |
| CSSC (Hong Kong) Shipping 3877.HK | Hong Kong | $1.85B | -4% | -10% | 60% | 7.2× | -3.2% | +14.9% |
| Stolt-Nielsen SNI.OL | Norway | $1.82B | +4% | -5% | 11% | 8.8× | -4.5% | +9.5% |
| Capital Tankers CAPT.OL | Norway | $2.57B | +45% | n/a | 37% | 7.3× | n/a | n/a |
| Danaos DAC | United States | $2.70B | +10% | +2% | 48% | 5.3× | -8.7% | +17.7% |
| U-Ming Marine Transport 2606.TW | Taiwan | $1.70B | +6% | +13% | 29% | 8.7× | -3.8% | +12.8% |
| Shanghai Jinjiang Shipping (Group) 601083.SS | China | $2.75B | +17% | +11% | 24% | 11.3× | -18.7% | +15.2% |
| Ningbo Ocean Shipping 601022.SS | China | $1.58B | -7% | +13% | 11% | n/a | n/a | n/a |
| NS United Kaiun Kaisha,Ltd 9110.T | Japan | $1.58B | +39% | +11% | 11% | n/a | -5.0% | +10.7% |
| Shenzhen Yan Tian Port 000088.SZ | China | $2.97B | +2% | +19% | 12% | 16.5× | 21.8% | +10.1% |
| Star Bulk Carriers SBLK | United States | $2.99B | 0% | +6% | 28% | 5.7× | -0.1% | +8.5% |
| Costamare CMRE | United States | $1.54B | -28% | -42% | 44% | 5.2× | -6.9% | +13.0% |
| MITSUI-SOKO 9302.T | Japan | $1.52B | -22% | +6% | 7% | 17.8× | -1.6% | +3.4% |