Shipping industry
13 companies · ₹48,869 cr · 5 with AI deep dives · Q1FY27 report
Hormuz disruption delivers record tanker TCYs, but a 27% crude orderbook warns the spike is borrowed time
- Revenue YoY
- +52.1%
- EBITDA margin
- 56.5%
- +1150bps YoY
- Price, 1 year
- +71.8%
- 100% of names up
- P/E vs own 5y
- -11.5%
- 8.3x now
Exhibit 1The quarter in numbers
constant panel of 3 companies above ₹500 cr- Jun 26
- 4,149 cr
- Mar 26
- 3,352 cr
- QoQ
- +23.8%
- Jun 25
- 2,728 cr
- YoY
- +52.1%
- Peak
- 4,149 cr
- vs peak
- 0.0%
- Jun 26
- 56.5%
- Mar 26
- 51.1%
- QoQ
- +540bps
- Jun 25
- 45.0%
- YoY
- +1150bps
- Peak
- 56.5%
- vs peak
- 0bps
Breadth: 100% of 4 companies grew revenue year on year (was 100% a quarter earlier) and 50% expanded margin (was 100%).
Exhibit 2What it costs
7.19x - 17.05x across the panel todayThe median name trades at 8.3x, -11.5% against this industry's own 5-year median of 9.4x, and -65.8% against its own peak of 24.3x.
Exhibit 3Structure
₹48,869 crGreat Eastern Shipping Company Ltd is 38.1% of this industry by market cap. The top 5 are 97.5% and the top 10 are 99.8%.
Exhibit 4Screen
P/E below the sub-industry median of 8.32x, 5y ROCE above its median of 9.5%, and at least 2 growth triggers stated on the latest earnings call.
Which names clear this screen is premium
The screen runs on stated growth triggers from the latest earnings calls - the same guidance data the stock screener reserves for premium. Premium names every company in this industry that is cheap against its own median and has the triggers behind it.
See plans →Exhibit 5Coverage (14 of 14)
Every company here with a deep dive, topped up by market cap. The rest of the industry is in the appendix.
- Mcap
- ₹20,144 cr
- P/E
- 5.4x
- EV/EBITDA
- 5.2x
- ROCE
- 17.5%
- Margin
- 64.2%
- Rev YoY
- +66.9%
- Mcap
- ₹13,089 cr
- P/E
- 8.1x
- EV/EBITDA
- 5.9x
- ROCE
- 17.0%
- Margin
- 44.5%
- Rev YoY
- +40.3%
- Mcap
- ₹11,254 cr
- P/E
- 70.4x
- EV/EBITDA
- 47.4x
- ROCE
- 24.6%
- Margin
- 31.7%
- Rev YoY
- +29.5%
- Mcap
- ₹133 cr
- P/E
- -
- EV/EBITDA
- 13.9x
- ROCE
- -2.3%
- Margin
- 37.9%
- Rev YoY
- +177.4%
Exhibit 6What managements said
from this industry's latest earnings calls · as of 2026-06-30Both GESHIP and SCI attributed the sector's earnings surge to the Hormuz standoff expanding ton-miles and tightening effective tanker supply. GESHIP's Suezmax market earnings hit…
- GESHIP (Q1FY27): “We've had our most profitable quarter ever by a significant margin. The consolidated…”
Exhibit 7Outlook
The outlook and what resolves next quarter
Where these managements said things are heading, and the dated, checkable events that would change it. Free with an account - 3 full reports a quarter.
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