India’s largest private sector shipping company Experience and expertise spanning 5 decades. An enviable global reputation.Creating value for customers.The company has two main business:

shipping and offshore. The shipping business is involved in transportation

of crude oil, petroleum products, gas and dry bulk commodities.

The offshore business services to the oil companies in carrying out offshore exploration and production activities, through its wholly owned subsidiary Great ship (India) Limited.

The shipping business has been awarded the ISO 9001: 2000 standard certification by DNV.

G E Shipping owes its success to the foresightedness of two families - the Sheths and the Bhiwandiwallas, who started their own shipping line to help expand the reach of their trading businesses.

In 1948, after obtaining the mothballed Liberty ship, SS Fort Elice, G E Shipping began its maiden voyage under the entrepreneurial genius of Vasant J. Sheth and steered ahead confidently, tasting new waters and exploring new avenues.

From providing sea-logistics support in its initial years to venturing in tramp shipping, to diversifying into offshore oil field services, much against the industry norms, the company has often swum against the tide and in the process, turned the tides in its favor, thereby laying a path for others to follow

200620072007

Sources Of Funds  

Total Share Capital152.27152.27152.27

 Equity Share Capital152.27152.27152.27

 Share Application Money

0.000.0016.02

Preference Share Capital

0.000.000.00

  Reserves2,233.922,915.524,005.10

 Revaluation Reserves0.000.000.00

 Networth2,386.193,067.794,173.39

Secured Loans1,869.152,189.782,484.58

 Unsecured Loans0.000.000.00

  Total Debt1,869.152,189.782,484.58

 Total Liabilities4,255.345,257.576,657.97

Application Of Funds      

Gross Block4,343.235,359.386,204.26

Less: Accum. Depreciation

1,587.921,726.971,729.90

Net Block2,755.313,632.414,474.36Capital Work in

Progress109.74180.00358.23

 Investments185.79403.61921.35Inventories33.4535.1552.15

Sundry Debtors68.46154.82123.54Cash and Bank Balance11.1715.5110.60

Total Current Assets113.08205.48186.29Loans and Advances96.79125.9198.17

Fixed Deposits1,340.391,049.861,077.96  Total CA , Loans &

Advances1,550.261,381.251,362.42

Deffered Credit0.000.000.00

Current Liabilities324.20244.67310.20Provisions21.5695.03148.19

Total CL & Provisions345.76339.70458.39Net Current Assets1,204.51,041.55904.03

Miscellaneous Expenses00.000.000.00Total Assets4,255.345,257.576,657.97

(In Rs. Crores)

200620072008

Income   

Sales Turnover1,928.151,990.602,594.57

Excise Duty000

Net Sales1,928.151,990.602,594.57

Other Income326.38260.5608.94

Stock Adjustments-9.2100

Total Income2,245.322,251.103,203.51

Expenditure   

Raw Materials46.7752.1264.35

Power & Fuel Cost170.7237.21290.82

Employee Cost155.16175.36232.12

Other Manufacturing Expenses

328.35245.84295.91

Selling and Admin Expenses

-11.7771.4988.31

Miscellaneous Expenses

24.825.7428.84

Preoperative Exp Capitalised

000

Total Expenses714.01807.761,000.35

Operating Profit1,204.931,182.841,594.22

PBDIT1,531.311,443.342,203.16

Interest277.03268.05459.14

PBDT1,254.281,175.291,744.02

Depreciation282.81265.26340.95

Other Written Off8.0600

Profit Before Tax963.41910.031,403.07

Extra-ordinary items-4.95.420.08

PBT (Post Extra-ord Items)

958.51915.451,403.15

Tax32.3632.1446.34

Reported Net Profit843.5883.311,356.73

Total Value Addition667.24755.64936

Preference Dividend000

Equity Dividend170.88175.11228.41

Corporate Dividend Tax23.9726.638.82

Per share data (annualised)  

Shares in issue (lakhs)1,522.741,522.741,522.74

Earning Per Share (Rs)55.3958.0189.1

Equity Dividend (%)100115150

Book Value (Rs)156.7201.47273.02

(in Rs. Crores)

200620072008

Net Profit Before Tax875.77909.891402.93

Net Cash From Operating Activities

1345.121028.951666.38

Net Cash (used in)/fromInvesting Activities

-664.52-1383.68

-1740.11

Net Cash (used in)/from Financing Activities

-361.3567.43106.54

Net (decrease)/increase InCash and Cash Equivalents

319.25-287.31088.56

Opening Cash & Cash Equivalents

1048.21367.4524.4

Closing Cash & Cash Equivalents

1367.451080.151112.96

Financial Year2007-082006-07

Profitability Ratios  

Operating Profit margin57.20%51.50%

Net profit Margin42.30%39%

Capitalization Ratios  

Debt-Equity Ratios0.60.71

Interest Service Coverage Ratio12.6811.96

1) Operating Profit Margin = income from operations – operating & administrative exp.

Income from Operation2) Net Profit Margin = Profit after Tax

Total Income3) Debt-Equity Ratio = Loans Funds

Shareholder’s fund – miscellaneous

Expenditure4) Interest Service = PBT + Int. & financial charges +

Depreciation Coverage Ratio Int. & financial charges

05000

100001500020000250003000035000

2008 2007 2006

Total RevenuePBDIT

DepreciationInterestTax ProvisionPAT

EPS

200820072006

Total Revenue32,03522,51123,420

PBDIT**18,93112,82313,430

Depreciation3,4092,6522,828

Interest14921072969

Tax provision462320323

PAT13,56888338,386

EPS (Rs.)89.1158.0155.07

In Rs. million