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Last Updated: April 2, 2026, 2:53 am
Author: Getaka|Social: XLinkedIn
Stock Ticker - BSE: 533704 | NSE: ESSARSHPNG

Essar Shipping Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹211.14Undervalued by 810.09%vs CMP ₹23.20

P/E (15.0) × ROE (15.0%) × BV (₹115.00) × DY (2.00%)

Defaults: P/E=15, ROE=15%

₹281.38Undervalued by 1,112.84%vs CMP ₹23.20
MoS: +91.8% (Strong)Confidence: 53/100 (Moderate)Models: 5 Under, 1 Over
ModelCategoryValueWeightSignal
PE-ROEEarnings₹235.0621%Under (+913.2%)
Graham NumberEarnings₹287.2521%Under (+1138.1%)
Earnings PowerEarnings₹201.0817%Under (+766.7%)
DCFCash Flow₹478.5221%Under (+1962.6%)
Earnings YieldEarnings₹318.9011%Under (+1274.6%)
Revenue MultipleRevenue₹0.248%Over (-99%)
Consensus (6 models)₹281.38100%Undervalued
Key Drivers: Wide model spread (₹0–₹479) — high uncertainty.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: 11.3% · Defaults: P/E=15, ROE=15%

*Investments are subject to market risks

Investment Snapshot

37
Essar Shipping Ltd scores 37/100 (Weak)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health34/100 · Weak
ROCE 0.0% WeakROE 0.0% WeakD/E -0.36 Low debtInterest Coverage 0.0x RiskyProfitable 2/5 years Inconsistent
Smart Money50/100 · Moderate
FII holding stable No changePromoter holding at 73.8% Stable
Earnings Quality50/100 · Moderate
OPM contracting (36% → -407%) DecliningWorking capital: -42,427 days (improving) Efficient
Quarterly Momentum15/100 · Weak
Revenue (4Q): -188% YoY DecliningProfit (4Q): -88% YoY DecliningOPM: -31,800.0% (down 31,796.0% YoY) Margin pressure
Industry Rank40/100 · Moderate
3Y sales CAGR: -69% Shrinking

Weights: Health 30% · Earnings Quality 25% · Momentum 20% · Industry Rank 15% · Smart Money 10%. Scores are computed from reported financials and recalculated daily. Not investment advice.

Share Price and Basic Stock Data

Last Updated: April 2, 2026, 2:53 am

Market Cap 481 Cr.
Current Price 23.2
Intrinsic Value₹281.38
High / Low 43.3/21.6
Stock P/E
Book Value 115
Dividend Yield0.00 %
ROCE%
ROE%
Face Value 10.0
PEG Ratio0.00

Stock P/E, Current Price, and Intrinsic Value Over Time

View Share Price Target for Essar Shipping Ltd

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
Essar Shipping Ltd 481 Cr. 23.2 43.3/21.6 1150.00 %%% 10.0
Transworld Shipping Lines Ltd 290 Cr. 132 330/112 3501.13 %6.83 %5.71 % 10.0
Global Offshore Services Ltd 124 Cr. 40.4 105/31.4 43.20.00 %5.07 %8.58 % 10.0
SEAMEC Ltd 3,668 Cr. 1,443 1,487/75319.2 4230.00 %8.60 %7.93 % 10.0
Shipping Corporation of India Ltd 10,778 Cr. 231 280/1439.51 1832.85 %9.81 %10.5 % 10.0
Industry Average6,031.00 Cr478.5161.23313.700.86%7.88%9.36%10.00

All Competitor Stocks of Essar Shipping Ltd

Quarterly Result

MetricSep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025
Sales 17141411123331483-14320
Expenses 9858251934715411-11363
Operating Profit 7793-13-17-32-4-6-8-30-5-3
OPM % 44%48%62%23%-113%-641%-1,248%-175%-4%-267%-279%-31,800%
Other Income 211,36132846-3223-16777064486
Interest 7532-4411101645292823211618
Depreciation 13134111111-0000000
Profit before tax -601,32337626-37-41-53-35642391327-16
Tax % -28%-1%-0%0%-2%0%0%0%0%0%0%0%0%
Net Profit -401,34336326-36-41-53-35642401327-16
EPS in Rs -1.9664.8917.561.26-1.74-2.12-3.11-1.6931.041.920.621.32-0.76

Last Updated: January 1, 2026, 8:36 pm

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 24, 2026, 12:46 am

MetricMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales 1,8591,9111,7202,1941,2081,3091,344472328612010-141
Expenses 1,3081,6841,4411,8159629771,084442265288760-99
Operating Profit 550227279379246332261306332-67-50-43
OPM % 30%12%16%17%20%25%19%6%19%53%-331%-483%30%
Other Income 128243199-69-1,201-3,430-1,342133191,7647580767
Interest 3994775424673873964334893561328110187
Depreciation 478424464390304282172174106413211
Profit before tax -199-432-528-547-1,646-3,776-1,686-620-811,624-105657-64
Tax % 23%6%4%7%0%0%0%0%0%-2%-1%0%
Net Profit -244-459-550-583-1,685-3,771-1,687-621-781,650-104660-64
EPS in Rs -11.88-22.36-26.58-28.19-80.44-182.40-81.24-29.97-3.7979.73-5.7131.89-3.08
Dividend Payout % 0%0%0%0%0%0%0%0%0%0%0%0%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-20242024-2025
YoY Net Profit Growth (%)-88.11%-19.83%-6.00%-189.02%-123.80%55.26%63.19%87.44%2215.38%-106.30%734.62%
Change in YoY Net Profit Growth (%)0.00%68.29%13.83%-183.02%65.22%179.06%7.93%24.25%2127.95%-2321.69%840.92%

Essar Shipping Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2014-2015 to 2024-2025.

Growth

Compounded Sales Growth
10 Years:-41%
5 Years:-62%
3 Years:-69%
TTM:-52%
Compounded Profit Growth
10 Years:8%
5 Years:20%
3 Years:36%
TTM:182%
Stock Price CAGR
10 Years:3%
5 Years:20%
3 Years:35%
1 Year:-44%
Return on Equity
10 Years:%
5 Years:%
3 Years:%
Last Year:%

Last Updated: September 5, 2025, 3:40 am

Balance Sheet

Last Updated: February 1, 2026, 12:38 am

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital 205205207207207207207207207207207207207
Reserves 6,8846,6753,1262,4281,163-2,117-4,428-5,020-5,121-2,949-3,014-2,587-2,578
Borrowings 5,6255,1425,3245,6134,6284,7714,6414,5993,9122,7042,6421,6311,645
Other Liabilities 1,3291,4301,5061,2481,6471,7011,9252,2982,1711,0851,0761,0481,023
Total Liabilities 14,04313,45210,1639,4967,6454,5632,3452,0841,1701,047911300297
Fixed Assets 9,8179,8146,4495,8355,2533,1491,00388411258262733
CWIP 92787913778111116-0-0-0180208
Investments 6363-037-042-064038000
Other Assets 4,0713,4973,6353,4872,3141,3611,3321,1781,0189518859256
Total Assets 14,04313,45210,1639,4967,6454,5632,3452,0841,1701,047911300297

Reserves and Borrowings Chart

Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity + 39655934527448715721097140514-46531
Cash from Investing Activity + 23937926137196475-22478463111-335
Cash from Financing Activity + -606-961-374-285-1,188-236-263-86-627-969-71-211
Net Cash Flow 29-23-2218-1522-12-97-6-15
Free Cash Flow 44472137130667719617741551560-47351
CFO/OP 78%248%140%75%201%53%88%129%200%1,465%71%-1,081%

Free Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow545.00222.00274.00374.00242.00328.00257.0026.0060.0030.00-69.00-51.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days 67587120304320232779337538
Inventory Days
Days Payable
Cash Conversion Cycle 67587120304320232779337538
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%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Promoters 74.37%74.37%73.75%73.75%73.75%73.75%73.75%73.75%73.75%73.75%73.75%73.75%
FIIs 0.00%0.00%0.00%0.01%0.04%0.01%0.00%0.00%0.01%0.00%0.00%0.00%
DIIs 0.03%0.03%0.02%0.02%0.02%0.02%0.02%0.03%0.03%0.02%0.02%0.02%
Public 25.60%25.60%26.22%26.22%26.19%26.21%26.22%26.21%26.21%26.22%26.22%26.22%
No. of Shareholders 1,05,3661,05,3031,02,7081,08,3311,12,5951,23,9721,35,0761,33,2071,32,5241,31,3051,30,9561,29,753

Shareholding Pattern Chart

No. of Shareholders

Essar Shipping Ltd: Intrinsic Value & Share Price Analysis - Shareholder trend analysis

This stock is not held by any mutual fund.

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 25Mar 24Mar 23Mar 22Mar 21
FaceValue 10.0010.0010.0010.0010.00
Basic EPS (Rs.) 31.89-5.0479.74-3.77-29.98
Diluted EPS (Rs.) 31.89-5.0479.74-3.77-29.98
Cash EPS (Rs.) 31.76-3.4981.721.20-21.59
Book Value[Excl.RevalReserv]/Share (Rs.) -114.97-135.63-126.76-224.46-219.79
Book Value[Incl.RevalReserv]/Share (Rs.) -114.97-135.63-126.76-224.46-219.79
Revenue From Operations / Share (Rs.) 0.490.972.9315.8622.85
PBDIT / Share (Rs.) 9.06-0.226.5813.903.18
PBIT / Share (Rs.) 9.03-1.774.598.79-5.21
PBT / Share (Rs.) 31.72-5.0878.45-3.90-29.95
Net Profit / Share (Rs.) 31.72-5.0479.73-3.91-29.98
NP After MI And SOA / Share (Rs.) 31.89-5.7179.73-3.79-29.97
PBDIT Margin (%) 1826.29-22.82224.4187.6513.93
PBIT Margin (%) 1818.88-181.32156.6055.39-22.79
PBT Margin (%) 6393.08-519.512676.36-24.59-131.05
Net Profit Margin (%) 6393.08-515.412719.97-24.67-131.18
NP After MI And SOA Margin (%) 6427.26-583.492719.97-23.90-131.15
Return on Networth / Equity (%) -27.730.00-60.180.000.00
Return on Capital Employeed (%) -19.181.78-4.26-6.123.84
Return On Assets (%) 220.34-12.96157.68-6.70-29.76
Long Term Debt / Equity (X) -0.59-0.22-0.14-0.34-0.36
Total Debt / Equity (X) -0.68-0.94-0.98-0.79-0.36
Asset Turnover Ratio (%) 0.010.020.050.110.08
Current Ratio (X) 0.060.290.280.240.24
Quick Ratio (X) 0.060.290.280.240.23
Interest Coverage Ratio (X) 1.87-0.051.030.800.13
Interest Coverage Ratio (Post Tax) (X) 1.86-0.440.920.50-0.22
Enterprise Value (Cr.) 2073.853183.492962.794307.372141.86
EV / Net Operating Revenue (X) 201.93157.2948.8313.124.53
EV / EBITDA (X) 11.06-689.0721.7614.9732.49
MarketCap / Net Operating Revenue (X) 43.7121.332.730.470.34
Price / BV (X) -0.18-0.15-0.06-0.03-0.03
Price / Net Operating Revenue (X) 43.7321.352.730.470.34
EarningsYield 1.47-0.279.95-0.50-3.82

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

About the Company - Qualitative Analysis

Essar Shipping Ltd. is a Public Limited Listed company incorporated on 16/04/2010 and has its registered office in the State of Gujarat, India. Company's Corporate Identification Number(CIN) is L61200GJ2010PLC060285 and registration number is 060285. Currently company belongs to the Industry of Shipping. Company's Total Operating Revenue is Rs. 20.50 Cr. and Equity Capital is Rs. 206.98 Cr. for the Year ended 31/03/2025.
INDUSTRYADDRESSCONTACT
ShippingEBTSL Premises, ER-2 Building (Admin Building), Devbhumi Dwarka Dist. Gujarat 361305Contact not found
Management
NamePosition Held
Mr. R SureshChairman(NonExe.&Ind.Director)
Mr. Vipin JainWhole Time Director
Mr. Rajesh DesaiExecutive Director
Ms. Raichel MathewNon Executive Director
Mr. Sunil ModakInd. Non-Executive Director
Mr. R JayakumarInd. Non-Executive Director

FAQ

What is the intrinsic value of Essar Shipping Ltd and is it undervalued?

As of 14 April 2026, Essar Shipping Ltd's intrinsic value is ₹281.38, which is 1112.84% higher than the current market price of ₹23.20, suggesting the stock is undervalued. This is calculated using the PE ratio method factoring in ROE (%), book value (₹115), dividend yield (0.00 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of Essar Shipping Ltd?

Essar Shipping Ltd is trading at ₹23.20 as of 14 April 2026, with a FY2026-2027 high of ₹43.3 and low of ₹21.6. The stock is currently near its 52-week low. Market cap stands at ₹481 Cr..

How does Essar Shipping Ltd's P/E ratio compare to its industry?

Essar Shipping Ltd has a P/E ratio of , which is below the industry average of 61.23. This is broadly in line with or below the industry average.

Is Essar Shipping Ltd financially healthy?

Key indicators for Essar Shipping Ltd: ROCE of % is on the lower side compared to the industry average of 7.88%; ROE of % is below ideal levels (industry average: 9.36%). Dividend yield is 0.00 %.

Is Essar Shipping Ltd profitable and how is the profit trend?

Essar Shipping Ltd reported a net profit of ₹660 Cr in Mar 2025 on revenue of ₹10 Cr. Compared to ₹-78 Cr in Mar 2022, the net profit shows an improving trend.

Does Essar Shipping Ltd pay dividends?

Essar Shipping Ltd has a dividend yield of 0.00 % at the current price of ₹23.20. The company is currently not paying meaningful dividends.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in Essar Shipping Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE
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