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.($)
- - - - 32.07M
7x0.68x3.23x5.35% 48.57B
6.16x0.54x2.25x8.55% 34.93B
25.46x1.26x6.75x1.95% 25.27B
8.17x3.62x6.74x4.81% 20.07B
10.56x1.42x10.36x4.31% 18.35B
6.01x1.17x3.33x7.8% 17.27B
11.67x4.07x9.88x7.34% 16.49B
7.92x2.08x13.44x2.85% 15.79B
10.34x0.92x3.8x3.12% 16.13B
Average 10.36x 1.75x 6.64x 5.12% 21.29B
Weighted average by Cap. 10.07x 1.49x 5.76x 5.33%

Y-o-Y evolution of P/E

Valuation ratios - P/E - Essar Shipping Limited

Historical PBR trend

Valuation ratios - PBR - Essar Shipping Limited

Evolution Enterprise Value / Sales

Valuation ratios - VE_REV - Essar Shipping Limited

Change in Enterprise Value/EBITDA

Valuation ratios - VE_EBITDA - Essar Shipping Limited

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