Need more clarity on Aban Offshore: Seshadri Bharathan, KSEMA Fincon Ltd

Seshadri Bharathan, MD & CEO, KSEMA Fincon Ltd, in a chat with ET Now talks about Aban Offshore.

What does somebody who had bought Aban Offshore yesterday at 325 do with the stock? Has the market given the worst already or is there more downside?

I think we need more clarity on Aban Offshore because the top line would get affected by around 10% to 12% and EBITDA margin would get affected by around 10% to 15% depending on the kind of insurance cover that this company has and also it’s a loss of profit for the company.

So I think overall the stock had to slide down by 10% because of this event risk and that event risk is behind us. We need more clarity in terms of insurance cover and what kind of insurance money this company would get.