Essar Shipping Limited reported a net profit of ₹552.73 crore for the financial year ended March 31, 2026, driven by exceptional income of ₹606.28 crore. The company's net worth improved by ₹553 crore during the year compared to March 2025, following steps such as generating cash flow from tug operations and obtaining comfort letters from group companies for interest deferment. Despite these measures, the company reported accumulated losses of ₹5,967.92 crore against share capital and reserves of ₹5,218.14 crore, indicating a material uncertainty related to its status as a going concern, as noted by statutory auditor Manohar Chowdhry & Associates.

The Board of Directors, based on the Audit Committee's recommendation, approved the audited standalone and consolidated financial results for the quarter and year ended March 31, 2026. The meeting also approved the appointment of M/s. Shyam Malpani & Co, Chartered Accountants, as internal auditors for the financial year 2026-2027. The trading window for designated persons, which was closed from April 1, 2026, will reopen 48 hours after the results were made public.

Financial Performance

For the full year, total income from operations stood at ₹70 crore, a significant decrease from ₹313.29 crore in the previous year. Other income declined to ₹65.67 crore from ₹292.79 crore in FY25. Total expenses for the year were ₹56.56 crore, lower than the ₹98.22 crore reported in the prior year. Profit before exceptional items and tax was ₹13.45 crore, down from ₹215.06 crore in the previous year.

Exceptional items for the year included an income of ₹606.28 crore, primarily comprising the reversal of impairment on loans to a subsidiary of ₹493.21 crore and a foreign exchange gain of ₹113.08 crore. Exceptional expenses included ₹67 crore paid towards a subsidiary's One Time Settlement (OTS) as a guarantor. The auditor also drew attention to a notice received from the Serious Fraud Investigation Office (SFIO) seeking information and documents, which the management is addressing.

Consolidated Results

On a consolidated basis, the company reported a net loss of ₹112.06 crore for FY26, compared to a net profit of ₹660.08 crore in the previous year. Total consolidated income was ₹97.93 crore, down from ₹247.34 crore in FY25. The group's net worth remains eroded with accumulated losses of ₹4,989.77 crore against share capital and reserves of ₹2,916.62 crore. The consolidated financial results were prepared on a going concern basis, supported by management's assessment and steps taken to improve liquidity.

Essar Shipping Limited has submitted its quarterly compliance certificate to stock exchanges, confirming adherence to dematerialization regulations for the quarter ended March 31, 2026. The filing demonstrates the company's commitment to maintaining regulatory compliance in securities handling processes.

Regulatory Compliance Certificate

The certificate was filed pursuant to Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018. This regulation mandates companies to provide quarterly confirmations regarding the proper handling of securities received for dematerialization.

Certificate Details and Process Confirmation

The certificate issued by Data Software Research Co. Pvt. Ltd., the company's Registrar and Transfer Agent, confirms several critical compliance aspects. The RTA certified that all securities received for dematerialization during the quarter were processed within the mandatory 15-day timeframe as required by regulations.

Key confirmations included in the certificate:

• Securities comprised in the certificates have been listed on stock exchanges
• Physical certificates were mutilated and cancelled after due verification
• Depository names were substituted in company records as registered owners
• All dematerialization requests were confirmed within regulatory timelines

Stock Exchange Communication

The compliance certificate was simultaneously submitted to both BSE Limited and National Stock Exchange of India Limited. The communication was signed by Habib Jan, Company Secretary & Compliance Officer, ensuring proper authorization and accountability for the regulatory filing.

Corporate Information

Essar Shipping Limited, incorporated with CIN L61200GJ2010PLC060285, maintains its corporate office at Essar House, 11 K.K. Marg, Mahalaxmi, Mumbai. The company's securities are listed on both BSE and NSE, requiring regular compliance with depositories and stock exchange regulations.

This quarterly filing represents part of the company's ongoing regulatory obligations, ensuring transparency in securities handling and maintaining investor confidence through proper documentation of dematerialization processes.