Accounts Executive

Essar Oil to invest more than Rs 1,600 crore to upgrade Vadinar refinery- boost GRM by $1.50/BBL. * Rs. 400 crore invested during planned shutdown; Another Rs 1,200 crore to be additionally invested in 2-3 years, taking total investments to over Rs 1,600 crore. * Investments to boost GRMs by $1.50 /barrel. * Gross refining margins continue to be well above IEA benchmark Essar Oil Limited's 20 MTPA Vadinar refinery is looking at earning an additional $1.50 (per barrel of crude) on its Gross Refinery Margin (GRM) on the back of Rs 1,600 crore of investments. The company has already invested Rs 400 crore during a 28-day planned shutdown of the refinery in September-October last year. A further Rs 1,200 crore will be invested to make additional upgrades in the various refinery units over the next 2-3 years. The shutdown or turnaround activity involved not just routine inspection and maintenance, but also entailed the conversion of the VGO-HT unit into a mild hydrocracker (MHC) unit and the setting up of facilities to process High Acid (TAN) Crudes. Ever since, the refinery has been able to convert its entire VGO (Vacuum Gas Oil) production into higher margin products. According to Mr C Manoharan, Director-Refinery, Essar Oil, "Post the shutdown, we have been able to modify our crude blend to process higher quantities of ultra-heavy and high TAN crudes, and increase the production of high value distillates. This has enabled Essar Oil to improve its crude and product mix significantly, which is reflected in our financial performance." Over the next 2-3 years, Essar Oil will invest Rs 1,200 crore to upgrade its naphtha hydro treater (NHT), isomerisation unit, continuous catalytic reformer (CCR) units and also facilities for further recovery of sulphur to further improve its margins. Mr Lalit Kumar Gupta, Managing Director and CEO of Essar Oil said, "We are committed to making our refinery among the best in the world through efficient deployment of resources. We will take a path of safety and sustainability in reaching our goals. We believe in setting new benchmarks for the industry with our efforts. With the shutdown having been successfully completed, EBITDA and PAT in the current financial year is expected to be significantly higher because of the full availability of the refinery, stable crude oil prices, and our ability to optimally leverage on the investments in the MHC and high TAN facilities." Refinery margins at Essar Oil have remained continuously above the industry benchmarks. In the quarter ended 30 June 2016, the CP-GRM of $10.29/bbl (unaudited) bettered the IEA margin for Singapore complex refineries by around $6/bbl. The shutdown and subsequent investment decisions were taken with an eye on the surging demand for petro products in India over the medium and long term. The Vadinar refinery currently produces about 9% of India's refining capacity and is also among the world's most complex refineries. It has processed 91 types of crudes, including the dirtiest crudes available. In less than four years since its commissioning in 2008, the refinery capacity was increased from 10.5 MTPA to 20 MTPA, while the complexity was enhanced from 6.1 to 11.8. The refinery is capable of producing high quality Euro IV and V grade products. Its safety record is equally impressive-as on 4th August 2016, the refinery has recorded 3,046 (8.2 years) Lost Time Injury (LTI) free days and 2,631 (7 years) fire free days. Retail operations In 2003, Essar Oil became the first private company to enter petroleum product retailing in the country, when the government opened the sector to private sector refiners. The deregulation in the sector, which has been in force since October 2014, has breathed new life into private sector refiners' retail plans. Essar Oil is on course to achieve a sustainable level of growth in this segment. The company runs a network of 2,470 operating retail outlets, while 2,850 additional outlets are in various stages of implementation. Essar Oil has a target of reaching 4,300 operational outlets by the end of FY 2016-17. The total capital investment in these outlets would be about Rs 2,100 crore, which will be mostly infused by franchisees. Once completed, the retail operations will generate employment for about 20,000 people. [/vc_column_text][/vc_row]

Essar Shipping Q1FY27 EPS corrected to ₹11.13 profit. Essar Shipping ltd. ESSARSHPNG Ask iris. What Essar Shipping corrected in its Q1FY27 results. Essar Shipping revised the outcome of its board meeting held on August 12, 2026, after identifying inadvertent clerical errors in its unaudited financial results for the quarter ended June 30, 2026 (Q1FY27). The key change was in the disclosure of earnings per share (EPS) after exceptional items. What was earlier shown as a loss of ₹11.13 per share was corrected to a profit of ₹11.13 per share. The company's revised numbers now show the standalone EPS after exceptional items at ₹11.13 for both basic and diluted metrics. The earlier figure had been presented as (11.13), implying a negative EPS. The rest of the quarter's headline was dominated by exceptional items rather than operating performance. Board meeting context and the revised disclosure. The updated disclosure relates to the board meeting on August 12, 2026, convened to consider and approve unaudited financial results (standalone and consolidated) along with a limited review report for the quarter ending June 30, 2026, as per a regulatory filing. The revision states the EPS figure was misstated due to clerical errors and has now been corrected. The correction is specifically tied to EPS after exceptional items, which can materially change how headline profitability is perceived. Even when reported profit is unchanged, an EPS sign flip from negative to positive can affect the way investors and data vendors interpret quarterly performance. The company's communication emphasises the correction as inadvertent rather than a change in underlying economics. Standalone EPS: loss to profit due to clerical error. The revised standalone EPS after exceptional items stands at ₹11.13 (basic) and ₹11.13 (diluted) for Q1FY27. This is a direct contrast to the earlier disclosure of (11.13). In parallel, a separate earnings data line included in the material states basic earnings per share from continuing operations at ₹11.13 and diluted EPS at ₹11.13, versus ₹1.32 in the year-ago period. The core issue highlighted in the correction is classification or sign presentation, not a new business development. Still, for a company with very low quarterly operating revenue, EPS headlines can be heavily influenced by one-off items and accounting movements. Consolidated Q1FY27 profit: ₹230.41 crore, led by exceptional gain. On a consolidated basis, Essar Shipping reported profit after tax (PAT) of ₹230.41 crore for the quarter. The material states this profit was driven largely by exceptional items, specifically an exceptional gain of ₹258.02 crore. The gain is described as stemming from the reversal of impairment on receivables from a foreign subsidiary. The same information also notes the consolidated profit was "almost entirely non-operational in nature," underlining that the bottom line did not come from core shipping operations. This makes the quarter notable more for accounting-led gains than for operating recovery. Operating revenue remained minimal, underscoring dependence on non-operational income. The consolidated revenue for the quarter is reported at ₹0.31 crore in the revised snapshot, highlighting how limited the operating base was in Q1FY27. Separately, another Q1 summary in the provided material reports revenue of ₹0.04 crore for the quarter (April to June 2026), down 97.63% year on year from ₹1 crore. The same dataset also states "sales" of ₹0.04 crore and "revenue" of ₹0.31 crore, indicating that different line items or reporting feeds are being referenced. Regardless of the specific label, both figures point to very small operating inflows relative to the reported PAT. Gross profit for the quarter is stated at ₹-3 crore in one Q1 summary, reinforcing that operating profitability remained weak even as reported profit rose sharply due to exceptional items. Key revised figures at a glance. | Metric | Revised Q1FY27 Figure | Previous Error/Note | | Standalone EPS (after exceptional) | ₹11.13 | Previously shown as (11.13) | | Consolidated Profit After Tax (PAT) | ₹230.41 crore | Driven by exceptional items | | Consolidated Revenue | ₹0.31 crore | Minimal operating revenue | | Exceptional gain | ₹258.02 crore | Reversal of impairment on receivables | Year-on-year and quarter-on-quarter movements cited. The material states Essar Shipping's net profit jumped 742.14% year on year to ₹230.41 crore in Q1FY27, with a quarterly growth of 747.76% versus the prior quarter figure referenced as ₹35.57 crore. It also notes that June 2025 quarter numbers showed total revenue of ₹1.69 crore and net income of ₹27.36 crore, and compares that with a net loss of ₹35.57 crore in March 2026. Another Q1 comparison table included in the material states (on a consolidated basis) that revenue fell to ₹0.04 crore from ₹1 crore a year ago, while PAT increased to ₹230 crore from ₹27 crore, and gross profit improved to ₹-3 crore from ₹-4 crore. These comparisons underline a sharp disconnect between the profit line and the operating revenue line in the quarter. Stock reaction on results day. The material notes the stock closed at ₹19.55, down 0.1% on the day the Q1FY27 results were declared (August 12, 2026). This marginal move suggests the market may have already priced in the nature of the earnings, or that investors focused on the quality of profit given the heavy role of exceptional items. When profits are driven by reversals and exceptional gains, markets often treat them differently from recurring operating earnings. Here, the low revenue base and the stated non-operational nature of profit are central to interpreting the quarter. Full-year context: FY26 versus FY25. Beyond the quarter, the material includes annual performance figures showing a decline in scale and continued losses in FY26. Revenue is reported at ₹97.93 crore in FY26 versus ₹247.34 crore in FY25, a decrease of 60.41% year on year. Operating profit is reported as an operating loss of ₹112.06 crore in FY26 versus ₹656.57 crore in FY25, and net profit is also reported as a net loss of ₹112.06 crore in FY26 versus ₹656.57 crore in FY25. These annual figures show the company has been operating under pressure, making one-off quarterly gains more prominent in headline numbers. Market impact: what the correction and numbers mean for investors. The EPS correction matters because EPS is a widely used metric in screeners, broker summaries, and investor comparisons. A sign error can distort perceptions of profitability and may affect how results are disseminated across market data platforms. Separately, the quarter's reported PAT of ₹230.41 crore, against consolidated revenue of ₹0.31 crore (and another feed's revenue number of ₹0.04 crore), highlights that the quarter's profitability was not built on operating performance. The exceptional gain of ₹258.02 crore, tied to a reversal of impairment on receivables from a foreign subsidiary, was the key driver. Investors assessing sustainability typically separate exceptional items from ongoing operations, particularly when operating revenue is negligible and gross profit is negative (₹-3 crore as stated). Analysis: why the exceptional item dominates the Q1FY27 story. This quarter shows how accounting reversals can outweigh operating trends in reported profits. The reversal of impairment on receivables can lift profits sharply without an equivalent improvement in sales or operating cash generation. That is consistent with the statement that the consolidated profit is almost entirely non-operational. The corrected EPS disclosure removes an additional layer of confusion and aligns the per-share figure with the reported direction of profit after exceptional items. But the underlying challenge remains visible in the minimal revenue and negative gross profit reported in the Q1 summary. Conclusion. Essar Shipping's revised Q1FY27 disclosure corrects a clerical error that had shown EPS after exceptional items as a loss instead of a profit, updating the figure to ₹11.13 for both basic and diluted standalone EPS. The quarter's consolidated PAT of ₹230.41 crore was largely driven by an exceptional gain of ₹258.02 crore from a reversal of impairment on receivables. With consolidated revenue stated at ₹0.31 crore and another Q1 revenue figure cited at ₹0.04 crore, the reported profitability remains primarily non-operational. The next key reference point for investors is subsequent regulatory communication and future quarterly filings that clarify whether operating revenue and profitability normalise beyond exceptional items.