Chowgule Steamships Ltd (501833)

Chowgule Steamships is an Indian shipping company with a focus on owning and chartering vessels and providing other shipping services. Its fleet consists of 11 vessels consisting of 6 minibulks and 5 bulk carriers that together aggregate 310229 DWT. What differentiates the company is its focus on cross trading movements, with 80% of its total earnings being from foreign exchange. The company originally issued right shares in October 1994 to finance the expansion of its fleet which eventually increased its fleet tonnage to 470000 DWT and the average age of the fleet was reduced from 10.1 years to 9.6. Chowgule Overseas, a subsidiary of Chowgules, was set up with the aim to take on responsibilities such as manning ships, fixing vessels and even take ships on bareboat charter. Cement clinkers are the major cargo satisfied by the coastal trade with its associated company, Narmada Cement. To expand its fleet, the company also ordered 2 Panamax vessels from Keelung Shipyard of China and through a lease finance from State Bank of India, ordered a third vessel from Loutulim Shipyard. Due to a liquidity crunch and debt burden, MV Maratha Memory vessel was sold in 2002 to repay IFC loan and 2 coastal vessels were also sold in that same year.

Share Price: ₹29.66 per share as on 30 Apr, 2024 04:01 PM
Market Capitalisation: ₹107.70Cr as of today
Revenue: ₹1.07Cr as on December 2023 (Q4 23)
Net Profit: ₹0.91Cr as on December 2023 (Q4 23)
Listing date: 02 Jan, 1995
Chairperson Name: Vijay V Chowgule