Shreyas Shipping & Logistics’ consolidated PAT stands at Rs 92 crore for FY 2017-18
May 26, 2018: Shreyas Shipping and Logistics Ltd recently announced its financial performance in 2017-18. The Indian ship owning and operating company primarily focuses on coastal container shipping and logistic services and is part of the 40-year-old global conglomerate Transworld Group.
May 26, 2018: Shreyas Shipping & Logistics Ltd recently announced its financial performance in 2017-18. The Indian ship owning and operating company primarily focuses on coastal container shipping and logistic services and is part of the 40-year-old global conglomerate Transworld Group.
Shreyas’ standalone revenues for the year 2017-18 stood at Rs 544 crore as against Rs 376 crore for FY17 which grew by 45 percent. EBITDA for FY18 is at Rs 115 crore as against Rs 50 crore during FY17 which grew by 123 percent and PAT stood at Rs 81 crore as against Rs 4 crore in FY17 which grew by 2205 percent. Considering share of profit of an associate and joint venture of Rs 11 crore (net of tax adjustment), consolidated PAT stood at Rs 92 crore for FY 18.
The company’s total containerised domestic cargo trade on the main land for the year 2017–18 was 195,000 containers as against 110,000 in 2015-16, with a growth of 77 percent. This corresponds to carriage and modal shift of cargo from land to sea mode as 5.85 million tonnes containerised cargo in the year 2017-18 as against 3.3 million tonnes two years earlier.
SSLL’s domestic cargo trade of 109,766 containers in the year 2017-18 as against 59,521 containers in 2015-16 achieving a growth of 84 percent. This corresponds to carriage of 3.3 million tonnes containerised cargo in the year 2017-18 as against 1.8 million tonnes two years earlier. Shreyas handled total volume of 448,200 TEUs in 2017-18 as against 331,000 TEUs in the last year with a growth of 35 percent.
Besides handling containerised cargo, SSLL commenced handling coastal break bulk cargo in the second half of year 2017 and handled 107,324 MT cargo during the year, mainly steel products of RINL and JSW, besides some project cargo. RINL commenced coastal movement of steel products for the first time venturing into modal shift from land to sea mode.
Total coastal throughput at Indian ports was 1.5 million TEUs in the year 2017 as against .85 million TEUs in the year 2015 while SSLL’s throughput at Indian ports was 0.8 million Teus in the calendar year 2017 as against 0.45 million in 2015, achieving a growth of 78 percent in the two years. Growth of 90 percent in domestic throughput at Indian ports is indication of modal shift of cargo from land to sea mode while 55 percent growth in throughput of Exim volume is indication of shift of volume from foreign transshipment ports to Indian ports.
To achieve the growth, SSLL acquired 10 vessels including two multipurpose vessels of capacity totaling to 242,242 DWT and 18080 TEUs between 2015 and 2017, achieving a growth of 56 percent while there has been 17 percent CAGR increase in Indian flag container fleet from 2014 until 2017.
Picture Caption: (L-R) Capt Vivek Kumar Singh, Managing Director; Ramesh S Ramakrishnan, Executive Chairman & Rajesh Desai, Chief Financial Officer