About
Ester Industries Limited engages in the manufacture and sale of polyester films in India and internationally. The company operates through three segments: Polyester Films (BOPET), Specialty Polymers, and R ย PET. The company offers polyester films comprising special chemical coated, metalized high and ultra-high barrier, transparent high barrier, isotropic, heat seal, retort, shrink sleeve, matte, UV stabilized, white opaque, gold, embossable, high clear, high friction, insulation, twist, antistatic, one side matte one side gloss, antifog, antifog sealable peelable, antimony-free, biodegradable, chemical resistance, digital printing, direct UV offset printable polyester, EVA coated, flame retardant, low friction silky matte, low emisivity, milky white, oxo-biodegradable, PVDC coated, post-consumer recycled, pre-primed, release/transfer, retort, sealable peelable, silky matte, straight tear polyethylene terephthalate (PET), thermoformable, velvet touch, and window metalized films, as well as printing, converting, and metallizing films. In addition, the company offers specialty polymers comprising masterbatches; technical yarns; textile grades for textile applications; PET for food and packaging applications; and polyester chips. It serves the food packaging, beverage packaging, home and personal care, industrial packaging, construction, identification and security, automotive, electrical and electronics, appliance, consumer and industrial goods, carpet, and textile industry markets. It also exports its products. The company was incorporated in 1985 and is headquartered in Gurugram, India. Ester Industries Limited is a subsidiary of Wilemina Finance Corporation.
Key Metrics
as of Sep 2026Quarterly Results
Rs. Crores ยท hover row for definition| Metric | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 | Jun 2024 | Mar 2024 | Dec 2023 | Sep 2023 | Jun 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 432.00 | 344.00 | 339.00 | 354.00 | 338.00 | 319.00 | 346.00 | 331.00 | 286.00 | 277.00 | 268.00 | 261.00 | 258.00 |
| Expenses | 383.00 | 302.00 | 323.00 | 340.00 | 318.00 | 283.00 | 286.00 | 291.00 | 275.00 | 271.00 | 287.00 | 272.00 | 257.00 |
| Operating Profit | 49.00 | 42.00 | 16.00 | 14.00 | 20.00 | 36.00 | 60.00 | 40.00 | 11.00 | 6.00 | -20.00 | -10.00 | 0.00 |
| OPM % | 11.00 | 12.00 | 4.80 | 4.00 | 6.00 | 11.00 | 17.00 | 12.00 | 3.90 | 2.20 | -7.00 | -3.90 | 0.00 |
| Other Income | 10.00 | 1.00 | 5.00 | 3.00 | 9.00 | 3.00 | 5.00 | 3.00 | 6.00 | 3.00 | 5.00 | 10.00 | 9.00 |
| Depreciation | 18.00 | 18.00 | 18.00 | 17.00 | 17.00 | 17.00 | 17.00 | 17.00 | 17.00 | 18.00 | 17.00 | 17.00 | 16.00 |
| Interest | 17.00 | 16.00 | 16.00 | 17.00 | 15.00 | 16.00 | 16.00 | 18.00 | 17.00 | 18.00 | 18.00 | 18.00 | 17.00 |
| Profit before tax | 24.00 | 9.00 | -13.00 | -17.00 | -4.00 | 6.00 | 31.00 | 7.00 | -17.00 | -27.00 | -50.00 | -35.00 | -24.00 |
| Tax % | 21.00 | 17.00 | -2.00 | -8.00 | 88.00 | 69.00 | 21.00 | 55.00 | -3.00 | -11.00 | -10.00 | -13.00 | -6.00 |
| Net Profit | 19.00 | 8.00 | -12.00 | -16.00 | -7.00 | 2.00 | 25.00 | 3.00 | -16.00 | -24.00 | -45.00 | -30.00 | -22.00 |
| EPS in Rs | 1.79 | 0.81 | -1.27 | -1.62 | -0.73 | 0.21 | 2.64 | 0.32 | -1.71 | -2.52 | -5.37 | -3.65 | -2.65 |
Profit & Loss
Annual ยท Rs. Crores| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2016 | Mar 2015 | Mar 2014 | Mar 2013 | Mar 2012 | Mar 2011 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 1,375.00 | 1,282.00 | 1,063.00 | 1,114.00 | 1,110.00 | 992.00 | 768.00 | 895.00 | 928.00 | 884.00 | 698.00 | 671.00 |
| Expenses | 1,282.00 | 1,135.00 | 1,086.00 | 1,022.00 | 939.00 | 760.00 | 698.00 | 823.00 | 853.00 | 842.00 | 663.00 | 448.00 |
| Operating Profit | 93.00 | 147.00 | -23.00 | 93.00 | 171.00 | 231.00 | 71.00 | 72.00 | 74.00 | 42.00 | 35.00 | 223.00 |
| OPM % | 7.00 | 12.00 | -2.10 | 8.00 | 15.00 | 23.00 | 9.00 | 8.00 | 8.00 | 4.80 | 5.00 | 33.00 |
| Other Income | 18.00 | 16.00 | 26.00 | 137.00 | 60.00 | 8.00 | 5.00 | 3.00 | 5.00 | 5.00 | 6.00 | 1.00 |
| Interest | 65.00 | 67.00 | 70.00 | 36.00 | 25.00 | 19.00 | 36.00 | 37.00 | 35.00 | 26.00 | 35.00 | 13.00 |
| Depreciation | 70.00 | 69.00 | 68.00 | 44.00 | 37.00 | 35.00 | 32.00 | 32.00 | 30.00 | 29.00 | 27.00 | 18.00 |
| Profit before tax | -24.00 | 28.00 | -135.00 | 149.00 | 169.00 | 185.00 | 7.00 | 5.00 | 14.00 | -8.00 | -21.00 | 193.00 |
| Tax % | 13.00 | 51.00 | -10.00 | 8.00 | 19.00 | 26.00 | 33.00 | 21.00 | 41.00 | -32.00 | -34.00 | 33.00 |
| Net Profit | -27.00 | 14.00 | -121.00 | 137.00 | 137.00 | 137.00 | 5.00 | 4.00 | 8.00 | -5.00 | -14.00 | 129.00 |
| EPS in Rs | -2.81 | 1.46 | -12.88 | 16.42 | 16.39 | 16.49 | 0.55 | 0.61 | 1.33 | -0.84 | -2.21 | 20.58 |
| Dividend Payout % | -9.00 | 0.00 | 0.00 | 3.00 | 20.00 | 21.00 | 0.00 | 0.00 | 38.00 | 0.00 | 0.00 | 19.00 |
Balance Sheet
Annual ยท Rs. Crores โ latest first| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2016 | Mar 2015 | Mar 2014 | Mar 2013 | Mar 2012 | Mar 2011 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 49.00 | 47.00 | 47.00 | 42.00 | 42.00 | 42.00 | 42.00 | 31.00 | 31.00 | 31.00 | 31.00 | 31.00 |
| Reserves | 734.00 | 726.00 | 671.00 | 702.00 | 580.00 | 470.00 | 250.00 | 241.00 | 232.00 | 226.00 | 232.00 | 246.00 |
| Borrowings | 729.00 | 660.00 | 773.00 | 816.00 | 639.00 | 208.00 | 316.00 | 376.00 | 363.00 | 335.00 | 304.00 | 224.00 |
| Other Liabilities | 162.00 | 140.00 | 153.00 | 155.00 | 168.00 | 142.00 | 80.00 | 67.00 | 72.00 | 60.00 | 60.00 | 122.00 |
| Total Liabilities | 1,674.00 | 1,573.00 | 1,643.00 | 1,715.00 | 1,428.00 | 862.00 | 688.00 | 714.00 | 698.00 | 652.00 | 627.00 | 623.00 |
| Fixed Assets | 978.00 | 977.00 | 989.00 | 979.00 | 390.00 | 377.00 | 385.00 | 399.00 | 390.00 | 376.00 | 350.00 | 363.00 |
| CWIP | 36.00 | 39.00 | 83.00 | 79.00 | 435.00 | 76.00 | 23.00 | 12.00 | 18.00 | 5.00 | 17.00 | 5.00 |
| Investments | 78.00 | 75.00 | 69.00 | 154.00 | 0.00 | 1.00 | 0.00 | 0.00 | 0.00 | 0.00 | 1.00 | 1.00 |
| Other Assets | 581.00 | 482.00 | 502.00 | 503.00 | 604.00 | 407.00 | 280.00 | 303.00 | 290.00 | 272.00 | 258.00 | 254.00 |
| Total Assets | 1,674.00 | 1,573.00 | 1,643.00 | 1,715.00 | 1,428.00 | 862.00 | 688.00 | 714.00 | 698.00 | 652.00 | 627.00 | 623.00 |
Cash Flows
Annual ยท Rs. Crores โ latest first| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2016 | Mar 2015 | Mar 2014 | Mar 2013 | Mar 2012 | Mar 2011 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity | 89.00 | 112.00 | 44.00 | 58.00 | 62.00 | 146.00 | 81.00 | 68.00 | 52.00 | 23.00 | 47.00 | 83.00 |
| Cash from Investing Activity | -116.00 | -56.00 | 42.00 | -199.00 | -392.00 | -147.00 | -20.00 | -36.00 | -57.00 | -27.00 | -36.00 | -222.00 |
| Cash from Financing Activity | 6.00 | -133.00 | -14.00 | 114.00 | 384.00 | 3.00 | -75.00 | -18.00 | -2.00 | 4.00 | -9.00 | 140.00 |
| Net Cash Flow | -21.00 | -77.00 | 72.00 | -28.00 | 54.00 | 2.00 | -14.00 | 14.00 | -7.00 | 0.00 | 3.00 | 1.00 |
| Free Cash Flow | 27.00 | 82.00 | -28.00 | -198.00 | -352.00 | 10.00 | 58.00 | 32.00 | -5.00 | -14.00 | 11.00 | -138.00 |
| CFO/OP % | 101.00 | 78.00 | -202.00 | 73.00 | 69.00 | 83.00 | 117.00 | 97.00 | 69.00 | 54.00 | 143.00 | 59.00 |
Ratios
Annual ยท Days / % โ latest first| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2016 | Mar 2015 | Mar 2014 | Mar 2013 | Mar 2012 | Mar 2011 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 49.00 | 48.00 | 51.00 | 50.00 | 64.00 | 56.00 | 53.00 | 48.00 | 49.00 | 45.00 | 44.00 | 66.00 |
| Inventory Days | 86.00 | 74.00 | 70.00 | 88.00 | 110.00 | 98.00 | 96.00 | 74.00 | 69.00 | 69.00 | 77.00 | 86.00 |
| Days Payable | 27.00 | 22.00 | 31.00 | 17.00 | 34.00 | 27.00 | 17.00 | 11.00 | 11.00 | 11.00 | 14.00 | 67.00 |
| Cash Conversion Cycle | 108.00 | 101.00 | 90.00 | 121.00 | 139.00 | 126.00 | 132.00 | 111.00 | 106.00 | 103.00 | 107.00 | 85.00 |
| Working Capital Days | 21.00 | 13.00 | -25.00 | 14.00 | 65.00 | 51.00 | 0.00 | -7.00 | -4.00 | 16.00 | 27.00 | 38.00 |
| ROCE % | 3.00 | 6.00 | -5.00 | 4.00 | 14.00 | โ | 7.00 | 7.00 | 8.00 | 3.00 | 3.00 | 56.00 |
Corporate Actions
22 records| Action | Ex Date | Record Date | Ratio | Amount (โน) | Notes |
|---|---|---|---|---|---|
| Dividend | 19 Sep 2025 | 19 Sep 2025 | โ | 0.60 | |
| Dividend | 20 Sep 2023 | โ | โ | 0.50 | |
| Dividend | 20 Sep 2022 | โ | โ | 1.90 | |
| Dividend | 22 Nov 2021 | 23 Nov 2021 | โ | 1.40 | |
| Dividend | 17 Sep 2021 | โ | โ | 1.90 | |
| Dividend | 02 Nov 2020 | 03 Nov 2020 | โ | 1.50 | |
| Dividend | 20 Aug 2020 | โ | โ | 2.50 | |
| Dividend | 06 Sep 2019 | โ | โ | 0.50 | |
| Other | 14 Sep 2018 | โ | โ | โ | Annual General Meeting |
| Other | 24 Aug 2017 | โ | โ | โ | Annual General Meeting |
| Other | 15 Sep 2016 | โ | โ | โ | Annual General Meeting |
| Other | 18 Sep 2015 | โ | โ | โ | Annual General Meeting |
| Dividend | 11 Sep 2014 | โ | โ | 0.50 | |
| Other | 19 Sep 2013 | โ | โ | โ | Annual General Meeting |
| Other | 14 Sep 2012 | โ | โ | โ | Annual General Meeting |
| Dividend | 13 Jul 2011 | โ | โ | 2.00 | |
| Dividend | 11 Nov 2010 | 13 Nov 2010 | โ | 2.00 | |
| Dividend | 15 Jul 2010 | โ | โ | 1.00 | |
| Dividend | 12 Jun 2009 | โ | โ | 0.50 | |
| Dividend | 22 Aug 2008 | โ | โ | 0.50 | |
| Dividend | 19 Feb 2004 | 27 Feb 2004 | โ | 0.62 | |
| Other | 19 Feb 2004 | 27 Feb 2004 | โ | โ | Reduction of Capital |
Announcements
5 filingsShareholding Pattern
Open on BSEFinancial Results โ Filings
Open on BSEBoard Filings
Open on BSEAnnual Reports
Credit Ratings
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Rating update22 Jul 2025 from crisil
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Rating update27 Dec 2024 from crisil
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Rating update13 May 2024 from crisil
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Rating update15 Dec 2023 from crisil
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Rating update24 Mar 2023 from crisil
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Rating update9 May 2022 from crisil
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