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Great Eastern Shipping Company (GE Shipping) has contracted to buy a secondhand Very Large Gas Carrier of about 82,000 cbm on 23 October 2026. The 2015 built vessel is expected to join the Company's fleet in Q3 FY27.
The proposed vessel will be financed entirely from internal accruals. The purpose of the acquisition is expansion of the fleet.
The company's current owned fleet stands at 40 vessels, comprising 25 Tankers (5 Crude Tankers, 16 Product Tankers, 4 LPG Carriers) and 15 Dry Bulk Carriers (2 Capesize, 10 Kamsarmax, 1 Ultramax, 2 Supramax) aggregating 3.24 mn dwt. The Company's current capacity utilization is close to 100%.
In addition, the Company has contracted to purchase two secondhand Kamsarmax dry bulk carriers. These transactions are expected to be completed in Q3 FY27. Furthermore, the Company has entered into a contract for the acquisition of a new-building Suezmax tanker, which is scheduled for delivery in the second half of FY 2028-29.
The 2019 built vessel is expected to join the company’s fleet in Q3 FY27. The proposed vessel will be financed entirely from internal accruals. The purpose of the acquisition is expansion of the fleet.
The company’s current owned fleet stands at 40 vessels, comprising 25 tankers (5 crude tankers, 16 product tankers, 4 LPG carriers) and 15 dry bulk carriers (2 capesize, 10 kamsarmax, 1 ultramax, 2 supramax) aggregating 3.24 million dwt. The company’s current capacity utilization is close to 100%.
Additionally, the company has contracted to acquire one additional secondhand kamsarmax dry bulk carrier, and this transaction is expected to be completed in Q3 FY27.
Great Eastern Shipping Company (GE Shipping), along with its subsidiaries is a major player in the Indian shipping and oil drilling services industry.
The company posted a consolidated net profit of Rs 1,308.84 crore in Q1 FY27, registering a 159.43% year-on-year (YoY) increase from the corresponding quarter last year. Revenue from operations surged 66.91% YoY to Rs 2,005.36 crore.
The scrip rose 0.86% to currently trade at Rs 1395.85 on the BSE.
Additionally, the company has contracted to acquire one additional secondhand Kamsarmax Dry Bulk Carrier, and this transaction is expected to be completed in Q3 FY27.
The company said the maximum buyback size represents 7.19% and 6.34% of the aggregate of its fully paid-up equity share capital and free reserves based on the latest audited standalone and consolidated financial statements as on 31 March 2026, respectively.
The company will utilise at least 75% of the maximum buyback size, or Rs 675 crore, for the buyback. Based on the minimum buyback size and the maximum buyback price, the company will purchase an indicative minimum of 44,11,764 equity shares.
As of 30 June 2026, the promoters held a 30.07% stake in the company. The post-buyback shareholding will depend on the actual number of shares repurchased. Based on the indicative maximum buyback, the promoters’ shareholding is expected to increase to approximately 31.37%.
As of 30 June 2026, promoters held a 30.07% stake in the company.