Essar Shipping Limited has submitted to the Exchange, the audited financial results (Standalone & Consolidated) for the quarter and year ended March 31, 2026.
ESSARSHPNG · price
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Essar Shipping reported standalone PAT of Rs 552.73 crore for FY26 vs Rs 371.12 crore in FY25, driven by exceptional income of Rs 606.28 crore (primarily reversal of impairment on loans to subsidiary and foreign exchange gains). Consolidated results showed a net loss of Rs 112.06 crore vs profit of Rs 656.57 crore in prior year. Revenue from operations declined significantly to Rs 4.33 crore (standalone) and Rs 1.78 crore (consolidated). The company has negative net worth with accumulated losses of Rs 5,967.92 crore (standalone) and Rs 4,989.77 crore (consolidated). Auditors issued unmodified opinions but highlighted material uncertainty regarding going concern, citing erosion of net worth. Key emphasis matters include SFIO investigation by MCA, exceptional items, and netting of receivables/payables with foreign subsidiary. Net worth improved by Rs 553 crore during the year through asset sales and debt management measures.
The company continues to face severe financial distress with negative equity and going concern doubts, though some operational improvements and asset sales provided temporary relief. The ongoing SFIO investigation and large exceptional items mask underlying operational weakness with minimal revenue generation.