Announcement • May 28
Essar Shipping Limited to Report Q4, 2026 Results on May 30, 2026 Essar Shipping Limited announced that they will report Q4, 2026 results at 9:15 AM, Indian Standard Time on May 30, 2026 New Risk • Mar 10
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 7.5% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Negative equity (-₹24b). Revenue is less than US$1m. Minor Risks Share price has been volatile over the past 3 months (7.5% average weekly change). Market cap is less than US$100m (₹5.08b market cap, or US$55.2m). Announcement • Feb 26
An undisclosed buyer completed the acquisition of an unknown stake in DrillXplore Services Private Limited from Essar Shipping Limited (BSE:533704) for INR 0.05 million. An undisclosed buyer agreed to acquire an unknown stake in DrillXplore Services Private Limited from Essar Shipping Limited (BSE:533704) on February 13, 2026. The transaction is subject to approval of merger agreement by target board. The deal has been approved by the board of Essar Shipping Limited.
An undisclosed buyer completed the acquisition of an unknown stake in DrillXplore Services Private Limited from Essar Shipping Limited (BSE:533704) on February 13, 2026. A cash consideration of INR 0.05 million will be paid by the buyer. As part of consideration, INR 0.05 million is paid towards common equity of DrillXplore Services Private Limited. Announcement • Feb 10
Essar Shipping Limited to Report Q3, 2026 Results on Feb 13, 2026 Essar Shipping Limited announced that they will report Q3, 2026 results at 12:15 PM, Indian Standard Time on Feb 13, 2026 Valuation Update With 7 Day Price Move • Feb 03
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to ₹28.05, the stock trades at a trailing P/E ratio of 9x. Average trailing P/E is 19x in the Oil and Gas industry in India. Total returns to shareholders of 242% over the past three years. New Risk • Nov 16
New major risk - Revenue size The company makes less than US$1m in revenue. This is considered a major risk. Companies with a small amount of revenue are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (11% average weekly change). Negative equity (-₹24b). Revenue is less than US$1m. Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (-32% net profit margin). Market cap is less than US$100m (₹6.75b market cap, or US$76.1m). Announcement • Nov 08
Essar Shipping Limited to Report Q2, 2026 Results on Nov 13, 2025 Essar Shipping Limited announced that they will report Q2, 2026 results on Nov 13, 2025 New Risk • Oct 08
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Indian stocks, typically moving 8.5% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (8.5% average weekly change). Negative equity (-₹24b). Minor Risks Large one-off items impacting financial results. Revenue is less than US$5m (₹94m revenue, or US$1.1m). Market cap is less than US$100m (₹6.99b market cap, or US$78.7m). Announcement • Sep 28
Essar Shipping Limited Appoints Ketan Kantibhai Shah as Non - Executive, Non- Independent Director, Effective September 26, 2025 Essar Shipping Limited at its 15th Annual General Meeting held on September 26, 2025, approved the appointment of Mr. Ketan Kantibhai Shah (DIN: 02481491) as a Non - Executive, Non- Independent Director of the Company. Date of Appointment is on September 26, 2025. Mr. Ketan Shah is a seasoned Finance & Accounts professional and brings with him over 35 years of experience in corporate finance with significant tenure in the Steel Industry in strategic, planning and operational roles. Mr. Shah is associated with the Essar Group for nearly three decades in various roles and capacities. Prior to this, he was the Chief Financial Officer of Essar Shipping Ltd. During his tenure, he was responsible for the activities related to Finance, Accounts, Tax and Secretarial functions. He was part of leadership team of the business which took up and executed successfully the task of monetization of the assets and repayment of the liabilities of business at the most opportune time. His dynamic leadership and expertise in financial management have been instrumental in driving the business. Prior to ESL, he was working with Essar Steel India Ltd. until 2018 as a Vice President Treasury and he played a vital role in setting up of Working Capital limits for the company from a consortium of Banks, managing these limits, improving liquidity of the company, optimizing the cost of borrowings, fund management, etc. Mr. Ketan Shah is a Cost Accountant from ICWAI and a B.com graduate from Lala Lajpatrai Collage. Announcement • Sep 04
Essar Shipping Limited, Annual General Meeting, Sep 26, 2025 Essar Shipping Limited, Annual General Meeting, Sep 26, 2025, at 15:00 Indian Standard Time. Reported Earnings • Aug 15
First quarter 2026 earnings released: EPS: ₹1.32 (vs ₹1.67 loss in 1Q 2025) First quarter 2026 results: EPS: ₹1.32 (up from ₹1.67 loss in 1Q 2025). Net income: ₹273.6m (up ₹623.0m from 1Q 2025). Over the last 3 years on average, earnings per share has fallen by 20% per year but the company’s share price has increased by 55% per year, which means it is well ahead of earnings. Announcement • Aug 09
Essar Shipping Limited to Report Q1, 2026 Results on Aug 13, 2025 Essar Shipping Limited announced that they will report Q1, 2026 results on Aug 13, 2025 New Risk • Jun 03
New minor risk - Revenue size The company makes less than US$5m in revenue. Total revenue: ₹103m (US$1.2m) This is considered a minor risk. Companies with a small amount of revenue are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risk Negative equity (-₹24b). Minor Risks Share price has been volatile over the past 3 months (8.9% average weekly change). Large one-off items impacting financial results. Revenue is less than US$5m (₹103m revenue, or US$1.2m). Market cap is less than US$100m (₹6.68b market cap, or US$78.1m). Reported Earnings • May 30
Full year 2025 earnings released: EPS: ₹31.89 (vs ₹5.71 loss in FY 2024) Full year 2025 results: EPS: ₹31.89 (up from ₹5.71 loss in FY 2024). Revenue: ₹2.47b (up ₹2.27b from FY 2024). Net income: ₹6.60b (up ₹7.78b from FY 2024). Over the last 3 years on average, earnings per share has fallen by 7% per year but the company’s share price has increased by 61% per year, which means it is well ahead of earnings. Announcement • May 26
Essar Shipping Limited to Report Q4, 2025 Results on May 29, 2025 Essar Shipping Limited announced that they will report Q4, 2025 results on May 29, 2025 New Risk • Apr 21
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 8.9% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (1.3x net interest cover). Negative equity (-₹24b). Minor Risks Share price has been volatile over the past 3 months (8.9% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (174% net profit margin). Market cap is less than US$100m (₹6.91b market cap, or US$81.2m). Announcement • Apr 01
Essar Shipping Limited Announces Executive Changes Essar Shipping Limited announced that Ms. Rachana Trivedi has tendered her resignation from the position of Company Secretary and Compliance Officer of "Essar Shipping Limited" (the "Company") effective from the close of business hours of March 31, 2025. Further, the Company has received confirmation from Ms. Rachana Trivedi that there are no other material reasons for her resignation other than those which are provided in the resignation letter which is annexed herewith. Further, the Board of Directors in their meeting held on March 31, 2025, has considered and approved the appointment of Mr. Bharat Modi (Membership No. A67152) as the Company Secretary and Compliance Officer of the Company effective from April 01, 2025. Mr. Bharat Modi will be authorized for making disclosure/communicate to/with the Stock Exchange(s) under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 or other relevant Rules/Regulations/Guidelines as may be applicable/amended from time to time. Mr. Bharat Modi is a Qualified Company Secretary with a background in commerce and law. He has three and half years of experience in handling secretarial compliance. Previously, he was associated with Vedanta Limited, where he managed the secretarial functions for the Sesa Goa Business of Vedanta Limited. Reported Earnings • Feb 05
Third quarter 2025 earnings released: EPS: ₹1.92 (vs ₹2.00 loss in 3Q 2024) Third quarter 2025 results: EPS: ₹1.92 (up from ₹2.00 loss in 3Q 2024). Revenue: ₹720.1m (up ₹694.3m from 3Q 2024). Net income: ₹397.0m (up ₹834.8m from 3Q 2024). Profit margin: 55% (up from net loss in 3Q 2024). Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has increased by 50% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Jan 28
Essar Shipping Limited to Report Q3, 2025 Results on Feb 04, 2025 Essar Shipping Limited announced that they will report Q3, 2025 results on Feb 04, 2025 Reported Earnings • Nov 15
Second quarter 2025 earnings released: EPS: ₹31.02 (vs ₹1.73 loss in 2Q 2024) Second quarter 2025 results: EPS: ₹31.02 (up from ₹1.73 loss in 2Q 2024). Revenue: ₹2.48b (up ₹2.44b from 2Q 2024). Net income: ₹6.43b (up ₹6.79b from 2Q 2024). Over the last 3 years on average, earnings per share has increased by 37% per year but the company’s share price has increased by 54% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Nov 06
Essar Shipping Limited to Report Q2, 2025 Results on Nov 13, 2024 Essar Shipping Limited announced that they will report Q2, 2025 results on Nov 13, 2024 New Risk • Sep 18
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: ₹8.33b (US$99.5m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risk Negative equity (-₹27b). Minor Risks Share price has been volatile over the past 3 months (9.2% average weekly change). Revenue is less than US$5m (₹119m revenue, or US$1.4m). Market cap is less than US$100m (₹8.33b market cap, or US$99.5m). Announcement • Sep 13
Essar Shipping Limited, Annual General Meeting, Sep 30, 2024 Essar Shipping Limited, Annual General Meeting, Sep 30, 2024, at 15:00 Indian Standard Time. Reported Earnings • Aug 09
First quarter 2025 earnings released: ₹1.67 loss per share (vs ₹1.26 profit in 1Q 2024) First quarter 2025 results: ₹1.67 loss per share (down from ₹1.26 profit in 1Q 2024). Net loss: ₹349.4m (down 234% from profit in 1Q 2024). Over the last 3 years on average, earnings per share has increased by 59% per year but the company’s share price has increased by 66% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Aug 03
Essar Shipping Limited to Report Q1, 2025 Results on Aug 08, 2024 Essar Shipping Limited announced that they will report Q1, 2025 results on Aug 08, 2024 New Risk • Jun 04
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Indian stocks, typically moving 9.5% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (9.5% average weekly change). Negative equity (-₹27b). Minor Risk Market cap is less than US$100m (₹5.59b market cap, or US$66.9m). Announcement • Jun 02
Essar Shipping Limited Announces Resignation of Raji Chandrasekhar as Independent Director Essar Shipping Limited announced that Ms. Raji Chandrasekhar (DIN: 09623673), has resigned from the post of Independent Director of the Company with effect from closure of Business Hours of May 28, 2024, due to her personal commitments. Reported Earnings • May 30
Full year 2024 earnings released: ₹5.04 loss per share (vs ₹79.73 profit in FY 2023) Full year 2024 results: ₹5.04 loss per share (down from ₹79.73 profit in FY 2023). Net loss: ₹1.18b (down 107% from profit in FY 2023). Over the last 3 years on average, earnings per share has increased by 84% per year but the company’s share price has only increased by 43% per year, which means it is significantly lagging earnings growth. Announcement • May 28
Essar Shipping Limited Announces Settlement with Steel Authority of India Ltd in the Hon'ble High Court of Delhi At New Delhi Essar Shipping Limited announced that matter of Essar Shipping Ltd. vs. Steel Authority of India Ltd. in the Hon'ble High Court of Delhi at New Delhi is settled and application is allowed. Accordingly, the cases filed by ESL and SAIL against each other stand withdrawn. In the past, the company has recognized income from Arbitration award. The arbitration award has been under litigation since then (referred to the note in the company's financial results). The matter has been settled with Steel Authority of India Limited under Vivad se Vishwas Scheme II. Pursuant to the scheme, Essar Shipping Limited shall receive 65% of the amount receivable plus interest accrued thereupon. Hence, the balance amount receivable as per books of accounts will be charged off to the Profit & Loss as per accounting standards. Announcement • May 24
Essar Shipping Limited to Report Q4, 2024 Results on May 28, 2024 Essar Shipping Limited announced that they will report Q4, 2024 results on May 28, 2024 Valuation Update With 7 Day Price Move • Apr 19
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₹31.37, the stock trades at a trailing P/E ratio of 2.1x. Average trailing P/E is 13x in the Oil and Gas industry in India. Total returns to shareholders of 297% over the past three years. New Risk • Apr 15
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 8.5% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (18% operating cash flow to total debt). Negative equity (-₹26b). Minor Risks Share price has been volatile over the past 3 months (8.5% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (986% net profit margin). Revenue is less than US$5m (₹314m revenue, or US$3.8m). Market cap is less than US$100m (₹5.56b market cap, or US$66.6m). Announcement • Mar 28
Essar Shipping Limited Announces Board Changes Essar Shipping Limited announced the Resignation of Ms. Nisha Barnwal as the Company Secretary and Compliance officer of the Company w.e.f. close business hours of April 12, 2024. Appointment of Ms. Rachana Trivedi as the Company Secretary and Compliance officer of the Company w.e.f. April 13, 2024. Ms. Rachana Trivedi is a Commerce graduate and an associate member of the Institute of Company Secretaries of India (ICSI). She is having experience of handling Listed /Public /Private /LLP Companies, Private and Charitable Trust, Partnership Firm for more than five years. Reported Earnings • Feb 09
Third quarter 2024 earnings released: ₹2.00 loss per share (vs ₹65.03 profit in 3Q 2023) Third quarter 2024 results: ₹2.00 loss per share (down from ₹65.03 profit in 3Q 2023). Net loss: ₹437.8m (down 103% from profit in 3Q 2023). Over the last 3 years on average, earnings per share has increased by 112% per year but the company’s share price has only increased by 49% per year, which means it is significantly lagging earnings growth. Announcement • Feb 01
Essar Shipping Limited to Report Q3, 2024 Results on Feb 08, 2024 Essar Shipping Limited announced that they will report Q3, 2024 results on Feb 08, 2024 New Risk • Dec 04
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 8.1% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (18% operating cash flow to total debt). Negative equity (-₹26b). Minor Risks Share price has been volatile over the past 3 months (8.1% average weekly change). Large one-off items impacting financial results. Market cap is less than US$100m (₹4.34b market cap, or US$52.0m). Reported Earnings • Nov 09
Second quarter 2024 earnings released: ₹1.73 loss per share (vs ₹1.96 loss in 2Q 2023) Second quarter 2024 results: ₹1.73 loss per share (improved from ₹1.96 loss in 2Q 2023). Net loss: ₹359.8m (loss narrowed 11% from 2Q 2023). Over the last 3 years on average, earnings per share has increased by 124% per year but the company’s share price has only increased by 28% per year, which means it is significantly lagging earnings growth. Announcement • Sep 08
Essar Shipping Limited, Annual General Meeting, Sep 29, 2023 Essar Shipping Limited, Annual General Meeting, Sep 29, 2023, at 15:00 Indian Standard Time. Agenda: To consider and adopt the Audited Standalone Financial Statements of the Company for the financial year ended on March 31, 2023 together with the reports of the Board of Directors and Auditors thereon; to consider and adopt the Audited Consolidated Financial Statements of the Company for the financial year ended on March 31, 2023 together with the reports of Auditors thereon; to consider appoint a Director in place of Ms. Raichel Mathew who retires by rotation in terms of Section 152 of the Companies Act, 2013 and being eligible, offers herself for re-appointment; and to consider other matters. Reported Earnings • Aug 09
First quarter 2024 earnings released: EPS: ₹1.26 (vs ₹0.76 loss in 1Q 2023) First quarter 2024 results: EPS: ₹1.26 (up from ₹0.76 loss in 1Q 2023). Revenue: ₹484.8m (up 209% from 1Q 2023). Net income: ₹260.6m (up ₹417.7m from 1Q 2023). Profit margin: 54% (up from net loss in 1Q 2023). Over the last 3 years on average, earnings per share has increased by 122% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Announcement • Aug 01
Essar Shipping Limited to Report Q1, 2024 Results on Aug 08, 2023 Essar Shipping Limited announced that they will report Q1, 2024 results on Aug 08, 2023 New Risk • Jun 09
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 8.1% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (0.7x net interest cover). Negative equity (-₹26b). Minor Risks Share price has been volatile over the past 3 months (8.1% average weekly change). Large one-off items impacting financial results. Market cap is less than US$100m (₹2.41b market cap, or US$29.2m). Announcement • May 20
Essar Shipping Limited to Report Q4, 2023 Results on May 29, 2023 Essar Shipping Limited announced that they will report Q4, 2023 results on May 29, 2023 Reported Earnings • Feb 08
Third quarter 2023 earnings released: EPS: ₹65.03 (vs ₹0.38 loss in 3Q 2022) Third quarter 2023 results: EPS: ₹65.03 (up from ₹0.38 loss in 3Q 2022). Net income: ₹13.4b (up ₹13.5b from 3Q 2022). Over the last 3 years on average, earnings per share has increased by 105% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. Announcement • Jan 31
Essar Shipping Limited to Report Q3, 2023 Results on Feb 07, 2023 Essar Shipping Limited announced that they will report Q3, 2023 results at 3:30 PM, Indian Standard Time on Feb 07, 2023 Reported Earnings • Nov 16
Second quarter 2023 earnings released: ₹1.96 loss per share (vs ₹0.74 profit in 2Q 2022) Second quarter 2023 results: ₹1.96 loss per share (down from ₹0.74 profit in 2Q 2022). Net loss: ₹405.4m (down 364% from profit in 2Q 2022). Over the last 3 years on average, earnings per share has increased by 91% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Board Change • Nov 16
High number of new directors There are 7 new directors who have joined the board in the last 3 years. Independent Non Executive Director Sunil Modak was the last director to join the board, commencing their role in 2022. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Announcement • Nov 05
Essar Shipping Limited to Report Q2, 2023 Results on Nov 12, 2022 Essar Shipping Limited announced that they will report Q2, 2023 results at 3:30 PM, Indian Standard Time on Nov 12, 2022 Board Change • Nov 01
High number of new directors There are 7 new directors who have joined the board in the last 3 years. Independent Non Executive Director Sunil Modak was the last director to join the board, commencing their role in 2022. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Board Change • Oct 02
High number of new directors There are 7 new directors who have joined the board in the last 3 years. Independent Non Executive Director Sunil Modak was the last director to join the board, commencing their role in 2022. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Announcement • Sep 30
Essar Shipping Limited Announces Resignation of Ranjit Singh as Chief Executive Officer, Effective 30 September, 2022 Essar Shipping Limited Announced that Mr. Ranjit Singh has decided to step down from the post of Chief Executive Officer of the Company due to personal occupancy with effect from 30th September, 2022. The matter was placed before the Board of Directors in the Board Meeting held on 28th September 2022 for its consideration and formal acceptance in accordance with the applicable legal provisions. Announcement • Sep 09
Essar Shipping Limited Announces Change in Directorate Essar Shipping Limited at its 12th Annual General meeting held on 8th September 2022 approved the appointment of following Directors: Ms. Raichel Mathew (DIN 09625593) as Non-Executive, Non Independent Director of the Company. Mr. Sunil Modak (DIN: 09623865) as Non-Executive, Independent Director of the Company. Ms. Raji Chandrasekhar (DIN: 09623673) as Non-Executive, Independent Director of the Company. Raichel Mathew joined Essar Group in 1986 and has more than 36 years of experience within the group in various roles responsibilities. She has experience in fleet personal- payroll like floating staff officers and Crew Salary accounting, Accounting of Master disbursement statements, Reconciliation of Officers and Crew Employee account, Reconciliation of Manning agent account. During her tenure she also handled customer accounting (Receivable) SD Module. Her work mainly included vendor Accounting (Payable) -SAP Module, accounting of NPO and PO invoices, Accounting of payment entries, Vendor account reconciliation, Bank reconciliation, handling General accounting, Vendor clearing etc. Sunil Modak joined Essar group in May 1984 and has more than 32 years of experience in all aspects of shipping industry including inland, Coastal and Foreign waters. During his tenure in Essar group he was working in day to day technical matters of the vessels, Correspondence with MMD and DG, Assisted in preparing tenders for IOC etc., secured exposure to Maritime legal matters, assisted in onboarding of officers and crew, Laisoning with shipbrokers worldwide, Preparing MOAs for sale and purchase of ships, Preparing Charter party agreements etc., He has during his tenure independently carried out full sequence of taking over of ship, Prepared letters for Oil Majors, Flag States, Port State authorities, Class Societies on various Shipping related matters etc. He is a graduate in COP 2nd class 1981, GOI and was associated the group till 2017. Raji Chandrasekhar joined Essar in the year 2008 and was associated with the group until 2016. Prior to this, she has worked with Reliance Industries for 16 years in Administrative capacity. A graduate from Mumbai University in Commerce, with an overall experience of 32 years her last stint was with NRB Bearings Ltd. assisting the Managing Director's office. Her exposure to functioning of listed companies will be of assistance to the Board. Announcement • Sep 02
Essar Shipping Limited Announces Resignation of Non-Executive Additional Independent Directors Essar Shipping Limited announces approval of shareholders for appointment of Mr. Sunil Modak & Ms. Raji Chandrasekhar was not taken within three months of their appointment and hence, the said Directors cease to be Non-Executive Additional Independent Directors of the Company effective August 31, 2022. Mr. Sunil Modak was appointed as Non-Executive Additional Independent Director of the company with effect from May 30, 2022. Ms. Raji Chandrasekhar was appointed as Non-Executive Additional Independent Director of the company with effect from May 30, 2022. Mr. Sunil Modak was not a member of any Board Committee. Ms. Raji Chandrasekhkar was not a member of any Board Committee. Announcement • Aug 27
ArcelorMittal Nippon Steel India has signed definitive agreement to acquire Port, power and other logistics and infrastructure assets from Essar Shipping Limited (BSE:533704) for an enterprise value $2.4 billion. ArcelorMittal Nippon Steel India has signed definitive agreement to acquire Port, power and other logistics and infrastructure assets from Essar Shipping Limited (BSE:533704) for an enterprise value $2.4 billion on August 26, 2022. The assets being acquired are cash accruing and will generate operational synergies immediately upon completion of the transaction .The deal also envisages a 50-50 Joint Venture partnership, for building a 4 MTPA LNG terminal at Hazira, Gujarat, between Essar and ArcelorMittal. The transaction is expected to be funded only by AM/NS India. Transaction closing is subject to the completion of certain corporate and regulatory approvals applicable for respective assets. Announcement • Aug 18
Essar Shipping Limited, Annual General Meeting, Sep 08, 2022 Essar Shipping Limited, Annual General Meeting, Sep 08, 2022, at 15:00 Indian Standard Time. Agenda: To receive, consider and adopt the Audited Standalone Financial Statements of the Company for the financial year ended on March 31, 2022 together with the reports of the Board of Directors and Auditors thereon; to receive, consider and adopt the Audited Consolidated Financial Statements of the Company for the financial year ended on March 31, 2022 together with the reports of Auditors thereon; to appoint a Director in place of Ms. Saraswathy Subramanian (DIN 09276003), who retires by rotation; to consider appointment of Mr. Sunil Modak as an Independent Director of the Company; to consider appointment of Ms. Raji Chandrasekhar as an Independent Director of the Company; and to transact other business. Reported Earnings • Aug 12
First quarter 2023 earnings released: ₹0.76 loss per share (vs ₹15.05 loss in 1Q 2022) First quarter 2023 results: ₹0.76 loss per share (up from ₹15.05 loss in 1Q 2022). Revenue: ₹245.8m (down 83% from 1Q 2022). Net loss: ₹157.1m (loss narrowed 95% from 1Q 2022). Over the last 3 years on average, earnings per share has increased by 81% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Reported Earnings • Jun 02
Full year 2022 earnings released: ₹3.77 loss per share (vs ₹29.98 loss in FY 2021) Full year 2022 results: ₹3.77 loss per share (up from ₹29.98 loss in FY 2021). Revenue: ₹5.53b (up 17% from FY 2021). Net loss: ₹784.9m (loss narrowed 87% from FY 2021). Over the last 3 years on average, earnings per share has increased by 70% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Announcement • May 31
Essar Shipping Limited Announces Board Appointments Essar Shipping Limited at its board meeting held on May 30, 2022, appointed Mr. Sunil Modak and Ms. Raji Chandrasekhar as Additional Directors designated as an Independent Non- Executive Director of the Company, effective from May 30, 2022. Mr. Modak, 62 years, joined Essar group in May 1984 and has more than 32 years of experience in all aspects of shipping industry including inland, Coastal and Foreign waters. During histenure in Essar group he was working in day to day technical matters of the vessels, Correspondence with MMD and DG, Assisted in preparing tenders for IOC etc., secured exposure to Maritime legal matters, assisted in onboarding of officers and crew, Laisoning with shipbrokers worldwide, Preparing MOAs for sale and purchase of ships, Preparing Charter party agreements etc., He has during his tenure Independently carried out full sequence of taking over of ship, Prepared letters for Oil Majors, Flag States, Port State authorities, Class Societies on various Shipping related matters etc. He is a graduate in COP 2nd class 1981, GOI and he was associated with the group till 2017. Ms. Raji, 57 years, joined Essar in the year 2008 and was associated with the group until 2016. Prior to this, she has worked with Reliance Industries for 16 years in Administrative capacity. A graduate from Mumbai University in Commerce, with an overall experience of 32 years. Her last stint was with NRB Bearings Ltd. assisting the Managing Director's office. Her exposure to functioning of listed companies will be of assistance to the Board. Announcement • May 24
Essar Shipping Limited to Report Q4, 2022 Results on May 30, 2022 Essar Shipping Limited announced that they will report Q4, 2022 results on May 30, 2022 Board Change • Apr 27
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Non- Executive Director Women Director Saraswathy Subramanian was the last director to join the board, commencing their role in 2021. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Feb 13
Third quarter 2022 earnings: Revenues and EPS in line with analyst expectations Third quarter 2022 results: ₹0.38 loss per share (up from ₹8.79 loss in 3Q 2021). Revenue: ₹217.3m (down 79% from 3Q 2021). Net loss: ₹78.4m (loss narrowed 96% from 3Q 2021). Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 66% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Announcement • Feb 03
Essar Shipping Limited to Report Q3, 2022 Results on Feb 09, 2022 Essar Shipping Limited announced that they will report Q3, 2022 results on Feb 09, 2022 Executive Departure • Dec 01
Whole Time Director Subimal Mahato has left the company On the 30th of November, Subimal Mahato's tenure as Whole Time Director ended after 1.2 years in the role. We don't have any record of a personal shareholding under Subimal's name. A total of 2 executives have left over the last 12 months. The current median tenure of the management team is 2.75 years. Reported Earnings • Aug 15
First quarter 2022 earnings released: ₹15.05 loss per share (vs ₹4.99 loss in 1Q 2021) The company reported a soft first quarter result with increased losses and weaker control over costs, although revenues improved. First quarter 2022 results: Revenue: ₹1.55b (up 4.4% from 1Q 2021). Net loss: ₹3.11b (loss widened 210% from 1Q 2021). Executive Departure • Aug 05
Company Secretary & Compliance Officer Jyotsna Gupta has left the company On the 2nd of August, Jyotsna Gupta's tenure as Company Secretary & Compliance Officer ended after 2.1 years in the role. We don't have any record of a personal shareholding under Jyotsna's name. A total of 2 executives have left over the last 12 months. The current median tenure of the management team is 4.92 years. Reported Earnings • Jun 26
Full year 2021 earnings released: ₹29.98 loss per share (vs ₹81.24 loss in FY 2020) The company reported a soft full year result with weaker revenues and control over costs, although losses reduced. Full year 2021 results: Revenue: ₹4.73b (down 65% from FY 2020). Net loss: ₹6.20b (loss narrowed 63% from FY 2020). Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has fallen by 12% per year, which means it is significantly lagging earnings. Reported Earnings • Feb 11
Third quarter 2021 earnings released: ₹8.79 loss per share (vs ₹4.60 loss in 3Q 2020) The company reported a poor third quarter result with increased losses, weaker revenues and weaker control over costs. Third quarter 2021 results: Revenue: ₹1.02b (down 73% from 3Q 2020). Net loss: ₹1.82b (loss widened 104% from 3Q 2020). Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has fallen by 30% per year, which means it is significantly lagging earnings. Announcement • Feb 09
Essar Shipping Limited Announces Board Changes Essar Shipping Limited announced that the Board of Directors of the Company at its meeting held on 8th February, 2021, has considered and approved appointment of Mr. Sumit Agarwal as Additional Director (Non-executive) on the Board of the Company with immediate effect that is effective 8th February 2021. The board also approved appointment of Mr. Natesan Srinivasan (Non-Executive - Independent Director) as Chairperson of the Board with immediate effect. Announcement • Feb 01
Essar Shipping Limited to Report Q3, 2021 Results on Feb 08, 2021 Essar Shipping Limited announced that they will report Q3, 2021 results on Feb 08, 2021 Is New 90 Day High Low • Dec 07
New 90-day high: ₹10.29 The company is up 5.0% from its price of ₹9.78 on 08 September 2020. The Indian market is up 16% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Oil and Gas industry, which is down 3.0% over the same period. Announcement • Nov 10
Essar Shipping Limited Announces Demise of Mr. Prabhat Kumar Srivastava as Non-Executive Director Chairman of the Company Essar Shipping Limited informed of the sudden and sad demise of Mr. Prabhat Kumar Srivastava, Non-Executive Director Chairman of the Company, on, November 08, 2020. Mr. Srivastava was a Non-Executive Director of the Company and played crucial roles through his long career at Company. Mr. P K Srivastava was appointed on the Board of the Company in 2012 and the Company immensely benefitted from his vision and leadership during his tenure. Mr. Srivastavas' sudden and unexpected passing away will be an irreparable loss to the Company and all the directors and employees of the Company convey deep sympathy, sorrow and condolences to his family. Announcement • Jul 17
Essar Shipping Limited Announces Disruption of Work on Account of Pandemic COVID-19 In reference to the subject matter, Essar Shipping Limited informed that operations of the Company, wherever possible are undertaken, however, there is disruption of work on account of pandemic COVID-19, resulting into financial impact on the business and operations of the Company, which is not ascertainable at this stage. Further, the operations of the Company are handled with due care from home, thereby adhering to "work from home" to the extent possible, until April 14, 2020. The duration of the aforementioned decision taken by the Company will depend upon the further directions from the Government Authorities. Announcement • Jun 21
Essar Shipping Limited to Report Q4, 2020 Results on Jun 29, 2020 Essar Shipping Limited announced that they will report Q4, 2020 results on Jun 29, 2020 
