SHREEJI SHIPPING GLOBAL LTD

Buy at CMP 462, for the Targets of 535 to 575, Stop Loss - 444

 Shreeji Shipping Global Ltd recently secured approval from the Income Tax Department under the Tonnage Tax Scheme for its qualifying inland vessels, effective from FY26 through FY35. Under this framework, taxation is linked to vessel tonnage rather than conventional profit calculations, which is expected to improve tax efficiency and provide greater earnings visibility over the coming years. The company also remained in focus after executing vessel purchase agreements for the acquisition of two Mini Bulk Carrier vessels for an aggregate aggregate considera consideration of around Rs.55.66 crore. The addition of thes vessels expands owned fleet capacity by 8,810.80 DWT and strengthens the company's coastal shipping and dry-bulk transportation capabilities across Indian coastal routes. Shreeji Shipping Global Ltd operates in the shipping, coastal logistics and marine transportation segment with a focus on dry bulk cargo movement, lighterage operations, vessel chartering and port-related logistics services. The company primarily serves non-major ports and coastal cargo routes while maintaining an integrated presence across shipping graed prseal sie n the financial side, the company has reported strong operational growth. For the first nine months of FY26, revenue increased to around Rs.521 crore while profit after tax rose to approximately Rs.112 crore. Operating performance has remained supported by healthy fleet utilization and execution across logistics operations Return ratios have remained strong with ROCE reported above 46% levels, reflecting efficient utilization of capital. The company has also continued to strengthen its balance sheet while expanding its vessel base and operational footprint. Another key development is the company's fleet-led expansion strategy. With the acquisition of additional vessels and a growing owned fleet, Shreeji Shipping Global is increasing its carrying capacity while enhancing operational control and cargo handling capabilities. A larger owned fleet can support improved asset utilization and provide access to a wider range of transportation opportunities across coastal logistics corridors. The company remains positioned within a sector benefiting from increasing focus on coastal shipping, port connectivity connectivity and and muitimo multimodal logistics infrastructure. Government initiatives promoting cargo movement through intrastructure. Government initiatives promoting coastal routes continue to support activity within the domestic shipping industry. Recent corporate developments including the Tonnage Tax Scheme approval, fleet expansion initiatives and upcoming annual results have kept the company on market watch. The decade-long tax approval through and up scompany on man de-long tax approva FY35 remains particularly notable as it offers a structured framework that may enhance profitability efficiency across eligible shipping operations. With a growing fleet, improving financial performance, strong return ratios, expanding cargo transportation capabilities and long-term tax benefits now in place, Shreeji Shipping Global Ltd continues to strengthen its aand in presence within the coastal shipping and maritime logistics sector.