Essar Shipping Limited — Others, 30-05-2025: Appointment

Essar Shipping Limited has announced a board meeting outcome approving the financial results for the quarter and half-year, reporting a net consolidated profit of ₹656.57 Cr for the year, reversing previous losses despite operational challenges and net worth erosion. Income was supported by asset sales and management services. A subsidiary remains under liquidation with lender dues pending. The company recognized ₹443.21 Cr from a partial sale of a foreign subsidiary stake, with remaining shares held for sale. New statutory and secretarial auditors were appointed, along with two directors experienced in finance. Financials are prepared on a going concern basis amid restructuring and working capital issues.