Essar Shipping Limited (ESSARSHPNG)

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Essar Shipping Limited (ESSARSHPNG) · mywealthgrid

About

Essar Shipping Limited operates in shipping within the Industrials sector, with a market cap of ₹330.99 Cr and high promoter ownership at 73.75%. The company is in severe operational distress, with revenue collapsed to ₹0–0.04 Cr across recent quarters and a massive negative operating margin of -897.75%.

Face value: ₹10

Market cap

₹356 Cr

P/E

2.0×

P/B

—

Dividend yield

ROE

—

ROCE

—

Debt / equity

—

OPM

-897.8%

EPS (TTM)

₹8.6

Book value

₹-100.2

52-week high

—

52-week low

—

Key insights

Company research notes and source-linked reviews

Key risks

Revenue collapsed to near-zero (₹0–0.04 Cr in recent quarters) — verify if structural business shutdown, temporary suspension, or data artifact, and timeline for any recovery
Massive negative operating margin of -897.75% indicates severe operational distress, with losses far exceeding the minimal revenue base
Earnings highly volatile (net profit swinging from -₹35.57 Cr to +₹230.41 Cr quarter-to-quarter) with profits appearing to derive from non-operating sources rather than core shipping operations
Stock down 37% YoY and trading near 52-week low — verify if sector-wide shipping downturn or company-specific distress

Generated analysis · source review pending

Growth drivers

Significant net profit in recent quarters (₹230.41 Cr Jun 2026, ₹196.14 Cr Mar 2026) despite ₹0.04 Cr revenue indicates asset-based or one-time gains — verify if these can continue or translate into operating revenue
Shipping sector cyclical on global trade volumes and freight rates — verify if industry fundamentals show any upturn that could revive demand
Stock valuation compressed (PE 1.86, down 37% YoY from 52w high of ₹41.13) creates upside potential — verify if management's turnaround or restructuring strategy can restore operations

Generated analysis · source review pending

2,528 historical price candles were omitted because the exchange source has not been verified.

₹17.2+1.4%1Y

Quick read

rule-based

Pros

+High promoter holding of 73.8% with no pledge

Cons

−Low return on equity of -812.4% (3-yr avg)
−Revenue shrank over the last 5 years (-67.3% a year)
−Weak interest coverage of 0.8×

Research score

Structured signal from quality, growth, valuation and momentum.

44/100

Business quality: 0
Growth: 33
Valuation: 100

Revenue & net profit

₹ crore, by fiscal year

RevenuePAT

Margins

% of revenue, by fiscal year

OPMPAT margin

Peers

Comparable companies from the narrowest available industry classification.

Screen this industry Compare top 5 side-by-side

Company	Mkt Cap	EV	Revenue	EBITDA	OPM	PAT	NPM	ROCE	ROE	WC Days
The Great Eastern Shipping Company LimitedGESHIPGESHIP	₹21,857 Cr	₹22,906 Cr	₹6,213 Cr	₹3,843 Cr	58.2%	₹3,747 Cr	54.4%	18.4%	18.8%	31
Shreeji Shipping Global LimitedSHREEJISPGSHREEJISPG	₹12,630 Cr	₹12,894 Cr	₹757 Cr	₹215 Cr	30.1%	₹160 Cr	21.5%	24.6%	19.9%	43
Shipping Corporation Of India LimitedSCISCI	₹12,439 Cr	₹14,916 Cr	₹6,310 Cr	₹2,579 Cr	37.8%	₹1,618 Cr	23.4%	14.8%	15.5%	-20
Seamec LimitedSEAMECLTDSEAMECLTD	₹4,051 Cr	₹4,379 Cr	₹1,038 Cr	₹427 Cr	42%	₹257 Cr	26.6%	21.4%	21.8%	118
Essar Shipping LimitedESSARSHPNGESSARSHPNG	₹356 Cr	₹1,971 Cr	₹0 Cr	₹-10 Cr	-897.8%	₹178 Cr	—	—	—	-210
Transworld Shipping Lines LimitedTRANSWORLDTRANSWORLD	₹350 Cr	₹640 Cr	₹462 Cr	₹-25 Cr	7.9%	₹-33 Cr	-13.7%	-4.8%	-10.2%	-37
Garware Offshore Services LtdGARWAOFFSGARWAOFFS	₹123 Cr	₹186 Cr	₹36 Cr	₹7 Cr	18.3%	₹-10 Cr	-26%	-6.4%	-7.6%	93
Chowgule Steamships LtdCHOWGULSTMCHOWGULSTM	₹74 Cr	₹86 Cr	₹0 Cr	₹-3 Cr	—	₹-9 Cr	—	-2.5%	—	—
Fly-Hi Maritime Travels LtdFLYHIFLYHI	₹56 Cr	—	—	—	—	—	—	—	—	—
Shahi Shipping LtdSHAHISHIPSHAHISHIP	₹17 Cr	₹26 Cr	₹11 Cr	₹0 Cr	-13.9%	₹-4 Cr	-28.2%	-20.8%	-131.4%	7

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Financials

Reported profit and loss, balance sheet, cash flow and growth history.

Annual Quarterly

Consolidated Standalone

Consolidated figures · ₹ crore

₹ Cr	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	1,344	473	328	61	20	10	2
COGS	899	0	0	0	0	0	0
Gross profit	445	—	—	—	—	—	—
	185	442	262	28	87	56	18
	261	31	66	32	-67	-46	-16
OPM %	19.4%	6.5%	20.1%	53.5%	-331%	-448.4%	-897.8%
Depreciation	172	174	106	41	32	1	1
Interest	433	489	356	132	81	101	94
	-1,342	12	319	1,764	75	807	-1
Profit before tax	-1,686	-620	-78	1,624	-105	660	-112
Tax	1	1	0	-26	-1	0	0
Tax %	0.1%	0.1%	0.3%	-1.6%	-0.8%	0%	0%
	-1,687	-621	-78	1,650	-104	660	-112
PAT margin %	-125.5%	-131.2%	-23.8%	—	-515.4%	—	—
EPS (₹)	-81.5	-30	-12.1	79.4	-10.7	36.3	-6.1
EPS adjusted (₹)	-81.2	-30	-3.8	79.7	-5.7	31.9	-5.4
Annual report	Annual report for Mar 2020	Annual report for Mar 2021	Annual report for Mar 2022	Annual report for Mar 2023	Annual report for Mar 2024	Annual report for Mar 2025	—

₹ Cr	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity capital	205	207	207	207	207	207	207	207	207	207	207
Reserves	3,173	3,029	1,163	-2,117	—	-5,020	-5,121	-2,949	-3,014	-2,587	-2,280
Minority interest	153	96	192	262	—	264	268	118	134	—	—
	2,517	3,609	2,200	1,904	—	1,743	1,678	2,704	2,642	1,631	1,615
	3,895	3,222	3,883	4,306	—	4,890	4,138	966	943	1,048	775
Total equity & liabilities	9,943	10,163	7,645	4,563	—	2,084	1,170	1,047	911	300	317
	4,088	3,698	2,625	—	1,003	884	112	58	26	27	44
CWIP	78	79	78	11	—	16	0	0	0	180	228
Investments	37	3	42	42	—	6	40	38	0	0	0
	5,739	6,383	4,900	4,510	—	1,178	1,018	951	885	92	45
Total assets	9,943	10,163	7,645	4,563	—	2,084	1,170	1,047	911	300	317

Segment results

As reported in NSE results XBRL. Segment result is before tax and finance costs.

Source XBRL ↗

Latest reported period · 31 Mar 2023 · ₹ crore

Segment	Revenue	Result	Assets	Liabilities
Other income unallocated	103.93	0	—	458.03
Rig operating and chartering	58.69	16.22	—	448.73
Fleet operating and chartering	3.33

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Ratios

Annual operating, return, leverage and working-capital ratios.

Consolidated Standalone

Consolidated figures

Ratio	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	33.1%	—	—	—	—	—	—
EBITDA margin %	19.4%	6.5%	19.2%	53.1%	-331%	-482.7%	-897.8%
EBIT margin %	6.6%	-30.2%	-13.1%	-14.7%	-489.5%	-490.1%	-941.6%
PAT margin %	-125.5%	-131.2%	-23.8%	2,720.4%	-515.4%	6,433.5%	-6,296.1%
Working capital
Receivable days	—	23	27	79	337	538	262
Inventory days	—	17	12	34	0	6	23
Payable days	—	216	130	572	108	184	495
NWC days	—	-176	-90	-459	229	360	-210
Leverage
Current ratio	—	0.24	0.24	0.29	0.3	0.05	0.05
Debt to EBITDA	—	56.62	26.65	83.92	—	—	—
Debt to equity	—	-0.36	-0.34	-0.99	-0.94	-0.69	-0.78
Interest coverage	0.6	-0.2	0.5	0.7	-0.5	1.9	0.8
Asset turnover	—	0.23	0.28	0.06	0.02	0.03	0.01
Return ratios
Return on assets %	—	-29.8%	-6.7%	157.7%	-11.4%	220.3%	-35.4%
Return on capital employed %	—	3.8%	-6.1%	-4.3%	1.8%	-19.2%	-14.7%
Return on equity %	—	12.9%	1.6%	-60.2%	3.7%	-27.7%	5.4%

Derived from reported annual statements. ROCE uses EBIT over capital employed (total assets less current liabilities). Day counts average the opening and closing balance; receivables turn on revenue, inventory and payables on cost of goods sold.

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Shareholding

Quarterly ownership, named holders, insider transactions and disclosed deals.

Quarterly Annual

Every quarter filed · % of equity

Holder (%)	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	73.75%	73.75%	73.75%	73.75%	73.75%	73.75%	73.75%	73.75%	73.75%	73.75%	73.75%	73.75%
	0%	0.01%	0.04%	0.01%	0%	0%	0.01%	0%	0%	0%	0%	0.05%
	0.02%	0.02%	0.02%	0.02%	0.02%	0.03%	0.03%	0.02%	0.02%	0.02%	0.02%	0.02%
Government	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	26.23%	26.22%	26.19%	26.22%	26.23%	26.22%	26.21%	26.23%	26.23%	26.23%	26.23%	26.18%
No. of shareholders	—	—	—	—	—	—	—	—	1,30,956	1,29,753	1,28,307	1,28,023

Promoter holding up 0 percentage points since Sep 2023.

11 deals · 30 Dec 2021 – 21 Dec 2023

Date	Client	Type	Venue	Side	Quantity	Price	Value
21 Dec 2023	MULTIPLIER SHARE & STOCK ADVISORS PRIVATE LIMITED	Bulk	NSE	Sell	14,55,211	₹34.18	₹4.97 Cr
21 Dec 2023	MULTIPLIER SHARE & STOCK ADVISORS PRIVATE LIMITED	Bulk	NSE	Buy	14,55,211	₹33.51	₹4.88 Cr
20 Dec 2023	MULTIPLIER SHARE & STOCK ADVISORS PRIVATE LIMITED	Bulk	NSE	Sell	12,00,000	₹38.95	₹4.67 Cr
20 Dec 2023	MULTIPLIER SHARE & STOCK ADVISORS PRIVATE LIMITED	Bulk	NSE	Buy	9,50,401	₹35.54	₹3.38 Cr
15 Jun 2023	BYTES AND PIXELS FINSOFT LLP .	Bulk	NSE	Buy	11,47,546	₹13.64	₹1.57 Cr
15 Jun 2023	SETU SECURITIES PVT LTD	Bulk	NSE	Sell	10,80,070	₹13.69	₹1.48 Cr
15 Jun 2023	BYTES AND PIXELS FINSOFT LLP .	Bulk	NSE	Sell	9,67,546	₹13.65	₹1.32 Cr
15 Jun 2023	SETU SECURITIES PVT LTD	Bulk	NSE	Buy	4,61,074	₹13.65	₹0.63 Cr
3 Jan 2022	TOPGAIN FINANCE PRIVATE LIMITED	Bulk	NSE	Sell	12,50,000	₹14.67	₹1.83 Cr
3 Jan 2022	TOPGAIN FINANCE PRIVATE LIMITED	Bulk	NSE	Buy	9,50,000	₹14.64	₹1.39 Cr

1–10 of 11

1 / 2

Bulk deals are a client trading over 0.5% of the equity in a session, aggregated across their trades; block deals are single negotiated trades in the exchange’s block window. Each is reported by the exchange it was crossed on, so NSE and BSE rows are separate trades rather than the same trade twice.

Mr. Suresh RamamirthamNon-Executive - Independent Director-Chairperson
Mr. Rajesh DesaiExecutive Director
Mr. JayakumarNon-Executive - Independent Director
Mr. Sunil ModakNon-Executive - Independent Director
Mr. Vipin JainExecutive Director
Mr. Ketan Kantibhai ShahNon-Executive - Non Independent Director
Ms. Raichael MathewNon-Executive - Non Independent Director
Mr. Habib JanCompany Secretary & Compliance Officer

Current officeholders as filed with BSE. A person holding two offices is listed once per office.

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F&O

Current futures and options contracts with compact option-chain pages.

Not in the F&O segment

Only about 210 stocks have listed futures and options. Contracts appear here for those, refreshed after each close.

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Fund holders

Mutual-fund schemes that disclosed a holding in the company.

No fund holdings on record

No scheme among the 32 fund houses on record reported a position in Essar Shipping Limited. Portfolios are published monthly by each AMC; coverage is still partial.

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Documents

Annual reports, exchange filings, offer documents, ratings and earnings-call material.

Announcements

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Events

Upcoming dates and the company’s corporate-action history.

1

Board meeting to consider results12 Aug 2026

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Announcements

Latest exchange announcements, filings and downloadable documents.

1 month 3 months 6 months 1 year All

19 announcementsExport CSV

30 Sept 2026, 7:22 pmAGM/EGM

Shareholder Meeting / Postal Ballot-Outcome of AGM

AGM PDF

9 Sept 2026, 7:19 pmCompany Update

Announcement under Regulation 30 (LODR)-Newspaper Publication

Newspaper Publication PDF

8 Sept 2026, 7:22 pmOthers

Reg. 34 (1) Annual Report.

Reg. 34 (1) Annual Report PDF

8 Sept 2026, 7:17 pmAGM/EGM

Notice For The 16Th Annual Genreal Meeting Of The Company To Be Held On Wednesday, 30Th September 2026 At 4:00 P.M.

AGM PDF

2 Sept 2026, 8:23 pmCompany Update

Announcement under Regulation 30 (LODR)-Meeting Updates

Meeting Updates PDF

1 Sept 2026, 12:31 pmCorp. Action

Intimation Regarding Book Closure For Annual General Meeting For FY 2025-26.

Book Closure PDF

31 Aug 2026, 9:46 pmOthers

Board Meeting Outcome for Outcome Of Board Meeting Held On Monday, August 31, 2026

Outcome without intimation PDF

31 Aug 2026, 9:41 pmCompany Update

Announcement under Regulation 30 (LODR)-Change in Directorate

Change in Directorate PDF

Date	Category	Subject	Filing
30 Sept 2026, 7:22 pm	AGM/EGM AGM	Shareholder Meeting / Postal Ballot-Outcome of AGM	PDF
9 Sept 2026, 7:19 pm	Company Update Newspaper Publication	Announcement under Regulation 30 (LODR)-Newspaper Publication

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Ratio	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	33.1%	—	—	—	—	—	—
EBITDA margin %	19.4%	6.5%	19.2%	53.1%	-331%	-482.7%	-897.8%
EBIT margin %	6.6%	-30.2%	-13.1%	-14.7%	-489.5%	-490.1%	-941.6%
PAT margin %	-125.5%	-131.2%	-23.8%	2,720.4%	-515.4%	6,433.5%	-6,296.1%
Working capital
Receivable days	—	23	27	79	337	538	262
Inventory days	—	17	12	34	0	6	23
Payable days	—	216	130	572	108	184	495
NWC days	—	-176	-90	-459	229	360	-210
Leverage
Current ratio	—	0.24	0.24	0.29	0.3	0.05	0.05
Debt to EBITDA	—	56.62	26.65	83.92	—	—	—
Debt to equity	—	-0.36	-0.34	-0.99	-0.94	-0.69	-0.78
Interest coverage	0.6	-0.2	0.5	0.7	-0.5	1.9	0.8
Asset turnover	—	0.23	0.28	0.06	0.02	0.03	0.01
Return ratios
Return on assets %	—	-29.8%	-6.7%	157.7%	-11.4%	220.3%	-35.4%
Return on capital employed %	—	3.8%	-6.1%	-4.3%	1.8%	-19.2%	-14.7%
Return on equity %	—	12.9%	1.6%	-60.2%	3.7%	-27.7%	5.4%

₹ Cr	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	345	307	487	157	210	97	140	514	-47	531	-129
	27	13	719	-6	178	-54	493	90	57	268	27
	-374	-285	-1,188	-236	-263	-86	-627	-969	-71	-211	-212
Net cash flow	—	—	—	—	—	-43	7	-365	-60	587	-315
Free cash flow	—	—	—	—	—	41	140	514	-47	531	-129
CFO / Operating profit %	—	—	—	—	80.7%	313.6%	222.8%	—	—	—	—

Essar Shipping Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Segment results

Ratios

Shareholding

F&O

Not in the F&O segment

Fund holders

No fund holdings on record

Documents

Announcements

Events

1

Announcements

1

Not in the F&O segment

No fund holdings on record

Announcements

Annual reports

Segment results

Compounded sales growth

Return on equity

Fleet Operating and Chartering · revenue

Essar Shipping Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Profit & loss

Balance sheet

Segment results

Ratios

Ratio timeline

Shareholding

Quarterly record

Bulk & block deals

Board and management

F&O

Not in the F&O segment

Fund holders

No fund holdings on record

Documents

Announcements

Events

Board meetings1

Announcements

Board meetings1

Ratio timeline

Quarterly record

Bulk & block deals

Board and management

Not in the F&O segment

No fund holdings on record

Announcements

Annual reports

Profit & loss

Balance sheet

Segment results

Cash flow

Compounded returns

Compounded sales growth

Return on equity

Fleet Operating and Chartering · revenue

1

1