Essar Shipping (ESSARSHPNG) — Financial Results

Investor Takeaways

Reported basic EPS of (0.22) and diluted EPS of 9.48 for Q1 FY2026 after correction

₹5,972.55 crore accumulated losses disclosed with material going concern uncertainty

[amount context mismatch] crore exceptional gain from subsidiary loan impairment reversal noted

Current assets exceed liabilities by ₹8.09 crore as per latest filing

Overall Tone: Cautious based on the numbers only.

Key Financial Highlights

Metric	Value	YoY Change
Revenue	₹2.54 Cr	N/A
Net Profit	₹-34.53 Cr	N/A
EBITDA	N/A	N/A
EPS	(0.22)	N/A
OPM	-348.03%	N/A

What Changed

The filing reveals significant corrections to previously reported figures, with Q1 FY2026 basic EPS revised to (0.22) from earlier disclosures. The company disclosed material accumulated losses of ₹5,972.55 crore and received an SFIO notice, creating a going concern uncertainty despite a ₹0.93 crore exceptional gain from subsidiary loan impairment reversal. Current assets exceed liabilities by ₹8.09 crore, but the auditor confirmed limited review scope under SEBI Regulation 33 without a modified opinion. The board's correction of EPS figures underscores material accounting adjustments affecting profitability perception.

Peer Comparison

Company	P/E	ROE	ROCE	Market Cap (₹ Cr)
Essar Shipping Limited	0.87	N/A	N/A	492.4
Adani Ports and Special Economic Zone Limited	30.83	7.75%	12.49%	4,13,583.7
InterGlobe Aviation Limited	27.38	N/A	N/A	1,66,838.2
GMR AIRPORTS LIMITED	-139.99	N/A	N/A	1,01,989.15

Essar Shipping's P/E ratio of 0.87 appears extremely low compared to peers, though its negative profitability metrics limit direct comparability.

Risks & Concerns

Material going concern uncertainty disclosed by auditor Manohar Chowdhry & Associates

₹5,972.55 crore accumulated losses as of filing date

SFIO notice referenced as material development

Limited auditor review scope under SEBI Regulation 33 without modified opinion

Quarterly Trend

Quarter	Revenue (₹ Cr)	Net Profit (₹ Cr)	OPM%
Q3FY25	3.07	39.7	-267.43%
Q2FY25	147.81	642.14	-4.38%
Q1FY25	2.54	-34.53	-348.03%
Q4FY24	2.54	-53.19	-1248.03%

The company shows volatile profitability with recurring losses, though recent quarters indicate narrowing losses (Q1 FY25 loss of ₹34.53 Cr vs Q4 FY24 loss of ₹53.19 Cr). However, negative operating margins persist across all reported periods.

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About Essar Shipping Limited (ESSARSHPNG)

Services · Shipping · Listed on NSE

Market Cap: ₹346.48 Cr ROE: -3.8% ROCE: -25.9%

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🔥 Also filed on 22 August 2026

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Source: Stock Announcements. Analysis by StockFin.ai. For informational purposes only — not investment advice.

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This analysis was programmatically compiled using StockFin AI utilizing official regulatory disclosures from the BSE and NSE. Content is automatically synthesized and audited against public financial filings. StockFin.ai is an educational research platform and is NOT a SEBI-registered investment advisor or research analyst.

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