Company Valuation: Essar Shipping Limited

Data adjusted to current consolidation scope
Fiscal Period: March 2021 2022 2023 2024 2025 2026
Market Cap 1 1,623 1,567 1,658 4,318 4,489 4,493
Change - -3.44% 5.81% 160.42% 3.98% 0.09%
Enterprise Value (EV) 1 47,274 40,379 28,426 30,498 20,738 20,619
Change - -14.59% -29.6% 7.29% -32% -0.58%
P/E -0.26x -2x 0.1x -3.66x 0.68x -4.01x
PBR -0.03x -0.03x -0.06x -0.15x -0.19x -0.22x
PEG - 0x -0x 0x -0x 0x
Capitalization / Revenue 0.34x 0.48x 2.73x 21.3x 43.8x 252x
EV / Revenue 9.99x 12.3x 46.9x 151x 202x 1,158x
EV / EBITDA 114x 62.4x 85.5x -45.7x -41.9x -129x
EV / EBIT -35.7x -98x -361x -30.9x -41.2x -123x
EV / FCF 20.3x -34.4x -3.1x -69.8x 3.39x -6.19x
FCF Yield 4.93% -2.9% -32.2% -1.43% 29.5% -16.1%
Dividend per Share 2 - - - - - -
Rate of return - - - - - -
EPS 2 -29.97 -3.792 79.73 -5.706 31.89 -5.414
Distribution rate - - - - - -
Net sales 1 4,730 3,283 606.6 202.4 102.6 17.8
EBITDA 1 414.1 647.2 332.6 -667.7 -495.2 -159.8
EBIT 1 -1,324 -412 -78.8 -988.5 -502.8 -167.6
Net income 1 -6,204 -784.9 16,502 -1,181 6,601 -1,121
Net Debt 1 45,651 38,812 26,768 26,180 16,249 16,125
Reference price 2 7.84 7.57 8.01 20.86 21.69 21.71
Nbr of stocks (in thousands) 206,976 206,976 206,976 206,976 206,976 206,976
Announcement Date 9/7/21 8/17/22 9/7/23 9/6/24 9/3/25 9/8/26
1INR in Million2INR
Estimates


P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
8.06x0.74x3.51x4.8% 50.66B
7.34x0.6x2.45x7.44% 35.88B
35.11x1.37x7.5x1.73% 27.76B
9.93x4.29x8x3.96% 24.26B
10.81x1.44x10.45x4.08% 18.52B
12.46x4.17x10.48x6.58% 16.6B
6.49x1.19x3.64x7.1% 16.27B
8.75x2.1x13.64x2.89% 15.5B
10.82x0.82x3.61x3.12% 14.52B
Average 12.19x 1.86x 7.03x 4.63% 24.44B
Weighted average by Cap. 12.24x 1.64x 6.18x 4.75%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA