Great Eastern Shipping (GESHIP) reported strong results, with Q4 FY26 consolidated net profit at INR 1,044 Cr and standalone net profit at a record INR 855 Cr.

Full FY26 consolidated net profit hit INR 2,943 Cr, also a record. **Business Performance:** Shipping segments drove growth.

Crude Carrier daily earnings soared 98% YoY to USD 61,424, Product Carriers rose 23%, and Dry Bulk improved 35%. LPG Carriers were up 4%. Geopolitical factors and robust US product exports boosted tanker earnings, while strong iron ore and grain trades lifted dry bulk.

Offshore markets also showed good utilization. **Growth Drivers:** GESHIP is actively modernizing its fleet through strategic purchases and sales.

High order books across key shipping segments and strong Q1 FY27 revenue coverage (100% for LPG Carriers) position the company for continued momentum. **Recent Developments:** The company added 3 and sold 2 vessels in Q4 FY26, with further activity in Q1 FY27. A record interim dividend of INR 11.70/share for Q4 FY26 was announced, marking its 17th consecutive quarterly payout. **Key Financial Metrics:** Consolidated NAV per share was INR 1,796 and Standalone NAV INR 1,422 (as of Mar 31, 2026). The company also maintains a strong net cash position of USD 516 million (normalized). **Management Outlook:** Favorable market fundamentals, combined with proactive fleet management and high near-term revenue visibility, support GESHIP's future performance.