Essar Shipping (ESSARSHPNG) had a P/E of 3.7× on 6 Nov 2026, below the industry P/E of 23.5×, and the shares are 54% below their 52-week high. Sales fell 89% a year over 3 years, though net profit is above operating profit, which points to a one-off gain. Its net worth is negative, as liabilities exceed assets, and borrowings are ₹1,615 Cr. It is a small-cap company with a market cap of ₹336 Cr, ranked 11th of 15 Marine Shipping companies by market cap; the shares fell 53% over the past year.
- ₹17.03
- ₹17.29
- ₹15.17
- ₹17.03
- 5 L
Health check
- ReturnsBehind
−52.9% over a year, better than 0 of 7 peers.
- Price tagNegative equity
Book value is below zero, so P/E and P/B mislead here.
- GrowthShrinking
Sales −89.0% a year over 3 years.
- ProfitabilityDistorted
With negative net worth, return ratios are meaningless.
- Balance sheetStretched
Negative net worth: liabilities exceed assets.
- Red flags5 to check
Negative net worth: liabilities exceed assets.
Small cap
Moves with the market
Key metrics
- Market cap
- ₹336 Cr
- Small cap
- P/E
- 3.7
- Industry 23.5
- Price to book
- −0.16
- Peers 4.36
- Dividend yield
- 0.00%
- ROE
- n/a
- Peers 18.8%
- ROCE
- n/a
- Peers 13.8%
- Debt to equity
- n/a
- Debt ₹1,615 Cr
- EPS (TTM)
- ₹4.39
- Face value ₹10
- OPM (TTM)
- −11561.5%
- Net margin 75825.0%
- Sales growth
- −97.6%
- Latest quarter vs a year ago
- Profit growth
- +742.1%
- Latest quarter vs a year ago
- Price to sales
- 2796.05
- EV/EBITDA −137.8
Strengths and risks
Strengths
- Quarterly profit up 742.1% on a year ago.
Risks to check
- Negative net worth: liabilities exceed assets.
- Quarterly sales down 97.6% on a year ago.
- Net profit is above operating profit, so a one-off gain is likely flattering earnings.
- 54% below its 52-week high.
- Interest coverage of only 0.0×.
About Essar Shipping
Essar Shipping Limited engages in the fleet operating and chartering businesses in India, the United Arab Emirates, and Mauritius. It operates in two segments, Fleet Operating and Chartering, and Oilfields Services. The company operates tankers and dry bulkers; and provides land rigs and semi- submersible rig services, as well as logistics services, including trucks, trailers, and tippers. It is also involved in the operation of international and coastal…
- Headquarters
- Mumbai
- Employees
- 21
- Sector
- Industrials
- ISIN
- INE122M01019
- Website
- essar.com
Price range
- Avg volume (3M)
- 4 L
- 1-year return
- minus 52.9%
- From 52-week high
- minus 54.3%
Peers · Marine Shipping
| Company | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ADANIPORTSAdani Ports and Special Economic Zone | 1,936.60 | plus 2.76% | 4,46,185 | 32.3 | 4.36 | 11.0% | 15.6% | 44.0% | 22.9% | 34.1% | 0.39% | plus 30.5% |
| JSWINFRAJSW Infrastructure | 338.30 | minus 2.31% | 78,692 | 50.3 | 4.42 | 12.0% | 9.9% | 36.2% | 19.0% | 27.2% | 0.27% | plus 19.5% |
| GESHIPGreat Eastern Shipping Co. | 1,428.70 | minus 2.14% | 19,236 | 4.6 | 1.20 | 17.4% | 18.8% | 42.5% | −1.6% | 4.5% | 4.03% | plus 38.6% |
| SHREEJISPGShreeji Shipping Global | 884.55 | plus 2.40% | 14,411 | 88.7 | 18.71 | – | 21.1% | 24.4% | −5.4% | 8.7% | 0.23% | plus 219.9% |
| SCIShipping Corporation of India | 261.07 | minus 0.90% | 12,161 | 6.1 | 1.34 | 14.1% | 15.5% | 23.5% | −0.1% | 15.8% | 2.80% | plus 5.3% |
| KMEWKnowledge Marine & Engineering Works | 652.80 | minus 79.23% | 8,279 | 60.7 | 14.00 | 13.4% | 20.0% | 39.9% | 7.6% | 18.8% | 0.00% | plus 125.5% |
| GPPLGujarat Pipavav Port | 166.49 | plus 3.23% | 8,052 | 14.6 | 3.37 | 26.7% | 21.8% | 52.0% | 6.6% | 18.0% | 6.06% | minus 0.9% |
| ESSARSHPNGEssar Shipping | 16.14 | minus 5.23% | 336 | 3.7 | −0.16 | – | – | −11561.5% | −89.0% | – | 0.00% | minus 52.9% |
| Median of 7 peers | – | −0.90% | 14,411 | 32.3 | 4.36 | 13.8% | 18.8% | 39.9% | 6.6% | 18.0% | 0.39% | 30.5% |
Quarterly results
| ₹ Cr | Jun 25 | Sep 25 | Dec 25 | Mar 26 | Jun 26 |
|---|---|---|---|---|---|
| 1.7 | 0 | 0 | 0 | 0 | |
| 6.6 | 3.4 | 4.7 | 3.8 | 3.2 | |
| −4.9 | −3.4 | −4.7 | −3.8 | −3.2 | |
| −290.5% | −33800.0% | −11650.0% | −9500.0% | −7975.0% | |
| 47.8 | 0 | 16.6 | 31.7 | 0.3 | |
| 15.5 | 17.8 | 33.1 | 27.6 | 24.7 | |
| – | 5.5 | −67 | −35.9 | 258 | |
| 27.4 | −15.7 | −88.2 | −35.6 | 230 | |
| 27.4 | −15.7 | −88.2 | −35.6 | 230 | |
| 1.32 | -0.76 | -4.26 | -1.72 | 11.13 |
Profit & loss
- Sales CAGR 3Y
- −89.0%
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 60.7 | 12.8 | 0.2 | 0.1 | |
| – | minus 79.0% | minus 98.8% | minus 46.7% | |
| 26.1 | 74.8 | 21.6 | −1 | |
| 34.6 | −62 | −21.5 | 1.1 | |
| 57.0% | −485.5% | −14326.7% | 1337.5% | |
| 101 | 46.2 | 141 | 35.1 | |
| 129 | 79.4 | 100 | 74.6 | |
| 41.1 | 32.1 | 0.8 | 0.8 | |
| 1,659 | 22.1 | 638 | −72.9 | |
| 1,624 | −105 | 657 | −112 | |
| −1.6% | 0.8% | – | – | |
| 1,650 | −118 | 660 | −112 | |
| – | minus 107.2% | – | minus 117.0% | |
| 79.73 | -5.71 | 31.89 | -5.41 |
Forecast
Balance sheet
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 207 | 207 | 207 | 207 | |
| −2,949 | −3,014 | −2,587 | −2,280 | |
| 2,704 | 2,642 | 1,631 | 1,615 | |
| 1,085 | 1,076 | 1,048 | 775 | |
| 1,047 | 911 | 300 | 317 | |
| 57.8 | 26.2 | 208 | 272 | |
| 60.3 | 60.3 | 241 | 288 | |
| 4.2 | – | – | – | |
| 27.1 | 24 | 6.4 | 3 | |
| 897 | 801 | −155 | −247 | |
| 1,047 | 911 | 300 | 317 |
Cash flow
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 514 | −46.5 | 531 | −130 | |
| 90.3 | 56.7 | 268 | 26.7 | |
| −969 | −70.5 | −211 | −212 | |
| −365 | −60.3 | 587 | −315 | |
| – | −0.5 | −180 | −47.7 | |
| 514 | −47 | 350 | −177 |
Shareholding pattern
- Promoters73.75%
- Public26.25%
| Quarter | Split | Promoters | Public | Promoter change |
|---|---|---|---|---|
| 30 Sep 2026 | 73.75% | 26.25% | 0.00 | |
| 30 Jun 2026 | 73.75% | 26.25% | 0.00 | |
| 31 Mar 2026 | 73.75% | 26.25% | 0.00 | |
| 31 Dec 2025 | 73.75% | 26.25% | 0.00 | |
| 30 Sep 2025 | 73.75% | 26.25% | – |
Major shareholders
Filings & events
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