Cash cushion
Additionally, a strong cash position gives it the flexibility to expand its fleet when the downcycle begins. GE’s strategy comprises avoiding new vessel purchases in an upcycle when asset prices are elevated. This has helped it build a cash reserve of around ₹8,000 crore at Q1FY27-end, about 40% of its balance sheet. Consequently, net debt-to-equity ratio has improved from 0.12 times in FY22 to negative 0.45 times.
