Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Financials of Essar Shipping
Quarter-by-quarter operating performance
| Dec 2022 | Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 14 | 14 | 11 | 12 | 3 | 3 | 3 | 148 | 3 | -143 | 2 | 0 | 0 |
| Expenses + | 8 | 5 | 8 | 25 | 19 | 34 | 7 | 154 | 11 | -113 | 6 | 3 | 5 |
| Operating Profit | 7 | 9 | 3 | -13 | -17 | -32 | -4 | -6 | -8 | -30 | -5 | -3 | -4 |
| OPM % | 48% | 62% | 23% | -113% | -641% | -1,248% | -175% | -4% | -267% | -279% | -31,800% | -11,175% | |
| Other Income + | 1,361 | 328 | 46 | -3 | 2 | 23 | -1 | 677 | 70 | 64 | 48 | 6 | -50 |
| Interest | 32 | -44 | 11 | 10 | 16 | 45 | 29 | 28 | 23 | 21 | 16 | 18 | 33 |
| Depreciation | 13 | 4 | 11 | 11 | 11 | -0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit before tax | 1,323 | 376 | 26 | -37 | -41 | -53 | -35 | 642 | 39 | 13 | 27 | -16 | -88 |
| Tax % | -1% | -0% | 0% | -2% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Net Profit + | 1,343 | 363 | 26 | -36 | -41 | -53 | -35 | 642 | 40 | 13 | 27 | -16 | -88 |
| EPS in Rs | 64.89 | 17.56 | 1.26 | -1.74 | -2.12 | -3.11 | -1.69 | 31.04 | 1.92 | 0.62 | 1.32 | -0.76 | -4.26 |
Financials of Essar Shipping
Annual income statement trend
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 1,859 | 1,911 | 1,720 | 2,194 | 1,208 | 1,309 | 1,344 | 472 | 328 | 61 | 20 | 10 | -141 |
| Expenses + | 1,308 | 1,684 | 1,441 | 1,815 | 962 | 977 | 1,084 | 442 | 265 | 28 | 87 | 60 | -99 |
| Operating Profit | 550 | 227 | 279 | 379 | 246 | 332 | 261 | 30 | 63 | 32 | -67 | -50 | -43 |
| OPM % | 30% | 12% | 16% | 17% | 20% | 25% | 19% | 6% | 19% | 53% | -331% | -483% | 30% |
| Other Income + | 128 | 243 | 199 | -69 | -1,201 | -3,430 | -1,342 | 13 | 319 | 1,764 | 75 | 807 | 67 |
| Interest | 399 | 477 | 542 | 467 | 387 | 396 | 433 | 489 | 356 | 132 | 81 | 101 | 87 |
| Depreciation | 478 | 424 | 464 | 390 | 304 | 282 | 172 | 174 | 106 | 41 | 32 | 1 | 1 |
| Profit before tax | -199 | -432 | -528 | -547 | -1,646 | -3,776 | -1,686 | -620 | -81 | 1,624 | -105 | 657 | -64 |
| Tax % | 23% | 6% | 4% | 7% | 0% | 0% | 0% | 0% | 0% | -2% | -1% | 0% | |
| Net Profit + | -244 | -459 | -550 | -583 | -1,685 | -3,771 | -1,687 | -621 | -78 | 1,650 | -104 | 660 | -64 |
| EPS in Rs | -11.88 | -22.36 | -26.58 | -28.19 | -80.44 | -182.40 | -81.24 | -29.97 | -3.79 | 79.73 | -5.71 | 31.89 | -3.08 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
Financials of Essar Shipping
Capital structure and asset base
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 205 | 205 | 207 | 207 | 207 | 207 | 207 | 207 | 207 | 207 | 207 | 207 | 207 |
| Reserves | 6,884 | 6,675 | 3,126 | 2,428 | 1,163 | -2,117 | -4,428 | -5,020 | -5,121 | -2,949 | -3,014 | -2,587 | -2,578 |
| Borrowings + | 5,625 | 5,142 | 5,324 | 5,613 | 4,628 | 4,771 | 4,641 | 4,599 | 3,912 | 2,704 | 2,642 | 1,631 | 1,645 |
| Other Liabilities + | 1,329 | 1,430 | 1,506 | 1,248 | 1,647 | 1,701 | 1,925 | 2,298 | 2,171 | 1,085 | 1,076 | 1,048 | 1,023 |
| Total Liabilities | 14,043 | 13,452 | 10,163 | 9,496 | 7,645 | 4,563 | 2,345 | 2,084 | 1,170 | 1,047 | 911 | 300 | 297 |
| Fixed Assets + | 9,817 | 9,814 | 6,449 | 5,835 | 5,253 | 3,149 | 1,003 | 884 | 112 | 58 | 26 | 27 | 33 |
| CWIP | 92 | 78 | 79 | 137 | 78 | 11 | 11 | 16 | 0 | 0 | 0 | 180 | 208 |
| Investments | 63 | 63 | 0 | 37 | 0 | 42 | 0 | 6 | 40 | 38 | 0 | 0 | 0 |
| Other Assets + | 4,071 | 3,497 | 3,635 | 3,487 | 2,314 | 1,361 | 1,332 | 1,178 | 1,018 | 951 | 885 | 92 | 56 |
| Total Assets | 14,043 | 13,452 | 10,163 | 9,496 | 7,645 | 4,563 | 2,345 | 2,084 | 1,170 | 1,047 | 911 | 300 | 297 |
Financials of Essar Shipping
Operating, investing and financing cash movement
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity + | 396 | 559 | 345 | 274 | 487 | 157 | 210 | 97 | 140 | 514 | -46 | 531 |
| Cash from Investing Activity + | 239 | 379 | 26 | 13 | 719 | 64 | 75 | -22 | 478 | 463 | 111 | -335 |
| Cash from Financing Activity + | -606 | -961 | -374 | -285 | -1,188 | -236 | -263 | -86 | -627 | -969 | -71 | -211 |
| Net Cash Flow | 29 | -23 | -2 | 2 | 18 | -15 | 22 | -12 | -9 | 7 | -6 | -15 |
| Free Cash Flow | 444 | 721 | 371 | 306 | 677 | 196 | 177 | 41 | 551 | 560 | -47 | 351 |
| CFO/OP | 78% | 248% | 140% | 75% | 201% | 53% | 88% | 129% | 200% | 1,465% | 71% | -1,081% |
Financials of Essar Shipping
Working capital efficiency and return ratios
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 67 | 58 | 71 | 20 | 30 | 43 | 20 | 23 | 27 | 79 | 337 | 538 |
| Inventory Days | ||||||||||||
| Days Payable | ||||||||||||
| Cash Conversion Cycle | 67 | 58 | 71 | 20 | 30 | 43 | 20 | 23 | 27 | 79 | 337 | 538 |
| Working Capital Days | 247 | -152 | -52 | -458 | -631 | -835 | -831 | -2,899 | -3,503 | -14,147 | -37,890 | -42,427 |
| ROCE % | 2% | 0% | 0% | 1% | 0% | 2% | 13% | -30% | -208% |
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