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Prices as of 8 Oct 2026 close · Not investment advice

Ester Industries Limited

NSE: ESTERPackaging

Share price

₹94.67

+0.13% close of 8 Oct 2026

Market cap ₹928 CrP/E —

Business score

How strong the business is, in one number. The parts behind it are in Pro.

42

out of 100 · worked out 8 Oct 2026

Your ratios

The numbers you want to see first. Tap Edit to change them.

Market cap

₹928 Cr

P/E ratio

—

P/B ratio

1.2

ROCE

2.8%

ROE

-3.6%

Dividend yield

0.3%

Price & valuation chart

How the share price and its valuation have moved. Hover over the chart to see any day. Prices as of the last close.

Prices as of 8 Oct 2026 close52-week high ₹119.2852-week low ₹70.67

Answers

Simple answers to the questions investors ask most, from the company's own numbers.

How fast it has been growing

Sales grew 10.1% over the past year, and 7.8% a year over its longer record. Meanwhile what it keeps of every 100 rupees of sales slipped from 16.1% to 8.1% over the last four years.

Whether it grew faster than its sector

It grew 7.8% a year against a sector median of 10.6% — 2.8 percentage points slower.

Room to re-rate, or risk of de-rating

It has no earnings, so there is no price-to-earnings to compare.

Whether growth justifies the valuation

It has no earnings to weigh the price against.

Profit growthPrice per ₹1 profitPer 1% growth
Ester Industries Limited — this one———
EPL Limited22%/yr18.1×₹0.82
AGI Greenpac Limited—13.9×—
UFLEX Limited-17%/yr6.4×—
TCPL Packaging Limited3%/yr28.8×₹9.6
Polyplex Corporation Limited-60%/yr20.5×—

Compared with companies filed under the same label. That grouping comes from the exchange's filing category, so some of them may not be real rivals.

How it compares with its peers

Against companies the exchange files under the same label (Packaging), it ranks 31 of 36 on returns, 25 of 35 on growth, 24 of 36 on margin. That grouping comes from the exchange's filing category, so some of them may not be real rivals.

What makes it hard to beat — and is that still true?

No durable advantage shows in the numbers: it earns 2.8% on capital, ahead of 14% of companies filed under the same label. That grouping comes from the exchange's filing category, so some of them may not be real rivals.

Whether its growth pays for itself

No — Over the last five years it made ₹365 crore of cash from the business but spent ₹833 crore on plant and equipment, ₹468 crore more than it made; the gap was from lenders and shareholders. And the profit is real: of every 100 rupees it reported over 12 years, about 214 arrived as cash — well above the profit; depreciation and interest are the reason, not a windfall. Its cash comes back faster than it used to: it went from being waiting 65 days for its cash to waiting 7 days for its cash.

Profit reality check

Is the profit real cash? Simple checks on the accounts. Facts only, not advice.

5 of 9 checks clear · 56%

Latest result · Q1 FY27

What the last results showed. Whether management kept its word is in Pro.

Announced 11 Aug 2026 · Consolidated · Unaudited

Revenue

₹432 Cr

Revenue vs last year

+27.8%

Revenue vs last quarter

+25.7%

Net profit

₹19 Cr

Profit vs last quarter

+136.6%

Net margin

4.3%

EPS

₹1.84

Earnings call transcript · 18 Aug 2026

Checklist before you investPRO

Points for and against, in one list.

Key numbers & peers

The main numbers grouped by topic, and how the company compares with similar ones.

Price

Market cap
₹928 Cr
Prev close
₹94.67
52w High
₹122
52w Low
₹68.6
Enterprise value
₹1,611 Cr
Beta
1.5
Price CAGR 1y
-20.0%
Price CAGR 3y
1.0%
Price CAGR 5y
-9.0%
Price CAGR 10y
7.0%

Ratios

Return on assets
-1.6%
PEG ratio
—
P/E ratio
—
P/B ratio
1.2
EV / EBITDA
18.4
Industry P/E
17.9
ROCE
2.8%
ROCE 5y average
4.4%
ROE
-3.6%
Debt / Equity
0.9
Interest coverage
0.6
Dividend yield
0.3%
ROE 3y average
-7.0%
ROE last year
-4.0%

Annual P&L

Annual revenue
₹1,375 Cr
Annual profit
-₹27 Cr
Operating margin
7.0%
Net profit margin
-2.0%
EBITDA margin
6.8%
Sales growth 3y
7.3%
Sales growth 5y
6.7%
Profit growth 3y
—
Profit growth 5y
—
EPS
₹-2.8
Sales growth TTM
10.0%
Profit growth TTM
-108.0%
Dividend payout
-9.0%

Quarter P&L

Sales latest quarter
₹432 Cr
Profit latest quarter
₹19 Cr
YoY quarterly sales growth
27.8%
YoY quarterly profit growth
—
OPM latest quarter
11.4%

Balance Sheet

Book Value
₹79.9
Face Value
₹5.0
Total debt
₹729 Cr
Total cash
₹105 Cr
Borrowings
₹729 Cr
Reserves / Equity
15.0

Cash Flow

Operating cash flow
₹89 Cr
Free cash flow
₹27 Cr
FCF yield
-4.0%
Net cash flow
-₹21 Cr

Shareholding

Promoter holding
62.3%
FII holding
0.0%
DII holding
0.1%
Public holding
37.5%

Peer comparison

CompanyPrice ₹P/EMkt cap ₹ CrDiv yield %Profit qtr ₹ CrProfit var %Sales qtr ₹ CrSales var %ROCE %
EPL Ltd237.0318.57,6041.05100.6-1.41,387.925.317.8
AGI Greenpac787.5013.85,0950.8999.612.1785.314.219.5
Uflex643.156.74,6440.47423.1629.65,366.037.67.0
TCPL Packaging4,031.5030.43,6690.6237.665.5474.015.817.9
Polyplex Corpn1,023.3020.73,2120.29171.1571.42,253.629.60.9
Jindal Poly Film653.2548.92,8600.00107.239.1695.8-23.8-2.0
XPRO India1,130.0081.22,6520.187.6244.9174.420.43.8
Ester Industries94.559860.2618.6360.1432.227.82.8
Median174.0320.44990.238.742.9138.722.512.7

Competes with: AGI Greenpac Limited, EPL Limited, Jindal Poly Films Limited, Knack Packaging Limited, Polyplex Corporation Limited, TCPL Packaging Limited, UFLEX Limited, Xpro India Limited

Quarterly results

Sales and profit for each of the last 13 quarters. Newest on the right. ₹ crore.

Consolidated · to 30 Jun 2026
Line itemJun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales258261268277286331346319338354339344432
Expenses257272287271275291286283318340323302383
Material Cost194218242229214288
Change in Inventories1.42-4.61-0.83-0.84-13-9.95
Purchases of Stock-in-Trade000000
Employee Cost181820222323
Other Expenses698678727882
Operating Profit0-10-206114060362014164249
OPM %0.04-3.91-7.282.163.911217116.014.034.851211
Other Income910536353935110
Exceptional items (within Other Income)-0.20-0.20-0.74-0.29-0.28-0.46
Interest17181818171816161517161617
Depreciation16171718171717171717181818
Profit before tax-24-35-50-27-177316-4-17-13924
Tax %-6-13-10-11-355216988-8-21721
Net Profit-22-30-45-24-163252-7-16-12819
EPS in Rs-2.65-3.65-5.37-2.52-1.710.322.640.21-0.73-1.62-1.270.811.79
Diluted EPS in Rs0.21-0.74-1.62-1.270.811.84

Profit & loss

Yearly sales, costs and profit for 12 years, plus the last 12 months (TTM). ₹ crore.

Consolidated · to 31 Mar 2026
Line itemMar 2011Mar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales6716988849288957689921,1101,1141,0631,2821,3751,469
Expenses4486638428538236987609391,0221,0861,1351,2821,347
Material Cost792903
Change in Inventories2.49-19
Purchases of Stock-in-Trade00
Employee Cost7183
Other Expenses269314
Operating Profit223354274727123117193-2314793122
OPM %3354.8088923158-2.101278
Other Income16553586013726161719
Exceptional items (within Other Income)-0.20-1.51
Interest13352635373619253670676567
Depreciation18272930323235374468697071
Profit before tax193-21-81457185169149-13528-243
Tax %33-34-3241213326198-105113
Net Profit129-14-5845137137137-12114-27-2
EPS in Rs21-2.21-0.841.330.610.55161616-131.46-2.81-0.29
Diluted EPS in Rs1.46-2.82
Dividend Payout %190038002120300-9

Compounded growth

Average yearly growth over different spans, as stored. A span can cross a demerger or an acquisition.

Compounded sales growth

10 years
7%
5 years
7%
3 years
7%
TTM
10%

Compounded profit growth

10 years
—
5 years
—
3 years
—
TTM
-108%

Stock price CAGR

10 years
7%
5 years
-9%
3 years
1%
1 year
-20%

Return on equity

10 years
—
5 years
4%
3 years
-7%
Last year
-4%

Balance sheet

What the company owns and what it owes, at the end of each year. ₹ crore.

Consolidated
Line itemMar 2011Mar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital313131313142424242474749
Reserves246232226232241250470580702671725734
Borrowings224304335363376316208639816773660729
Other Liabilities1226060726780142168155153140162
Minority Interest00
Total Liabilities6236276526987146888621,4281,7151,6431,5731,674
Fixed Assets363350376390399385377390979989977978
CWIP51751812237643579833936
Investments11000010154697578
Other Assets254258272290303280407604503502482581
Total Assets6236276526987146888621,4281,7151,6431,5731,674

Cash flows

Real money coming in and going out each year — from the business, from investments and from loans. ₹ crore.

Consolidated
Line itemMar 2011Mar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity83472352688114662584411289
Cash from Investing Activity-222-36-27-57-36-20-147-392-19942-56-116
Cash from Financing Activity140-94-2-18-753384114-14-1336
Net Cash Flow13-0-714-14254-2872-77-21
Free Cash Flow-13811-14-5325810-352-198-288228

Ratios

How fast customers pay, how long stock sits, and how well capital earns — year by year.

Consolidated
Line itemMar 2011Mar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days664445494853566450514849
Inventory Days8677696974969811088707486
Days Payable671411111117273417312227
Cash Conversion Cycle8510710310611113212613912190101108
Working Capital Days382716-4-7-0516514-25137
ROCE %5633877144-563

Shareholding pattern

Who owns the company — founders (promoters), foreign funds, Indian funds and the public. In %.

Consolidated · to 30 Jun 2026
Line itemSep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters646462626262626363636362
FIIs0.040.030.040.030.100.040.080.170.030.060.050.03
DIIs0.010.010.010.010.440.010.010.010.040.130.160.15
Public363638373738383737373737
No. of Shareholders41,56441,44741,42837,80338,29138,64037,77237,68138,33737,69436,92437,110

Price trend

The price as a Renko brick chart: small moves drop out so the bigger path stands out.

Change over 1 year -19.0% (₹116.92 → ₹94.67)Brick size ₹4.57 (fixed)Bricks 29
₹80.00₹100₹94.67Nov '25Jan '26Mar '26May '26Aug '26
Price moved up one brickPrice moved down one brickLast close ₹94.67 on 8 Oct 2026

Every brick is the same size, about one typical day's move. A new brick needs a full brick's move; turning the other way needs two. Bricks show where the price went, not where it will go.

Open interestPRO

Where option traders are positioned on this stock.

Industry numbers

The numbers that matter most in this industry, from the company's own filings.

1 when an audit qualification is filed as repetitive

0.00flag

2026-03-31

company capacity utilisation %

84.00pct

2026-06-30

the company's own unlisted debt securities in default at period end

0.00cr

2026-06-30

exports as % of revenue

62.00

the company's own loans / revolving facilities in default at period end (standalone filing)

0.00cr

2026-06-30

guarantees / comfort given for promoter, promoter group, directors and KMP

0.00cr

2026-03-31

loans outstanding to promoter, promoter group, directors and KMP (governance filing)

0.00cr

2026-03-31

security given for the borrowing of promoter, promoter group, directors and KMP

0.00cr

2026-03-31

News

News and filings about Ester Industries Limited. Open one to see why it matters.

Supply chain

Who it buys from, sells to and competes with — as recorded in our map of company links.

Competes with

Uses as raw material

  • MEG (Monoethylene Glycol)
  • PC & PBT resin
  • PTA (Purified Terephthalic Acid)
  • Recycled PET flakes / post-consumer PET
  • Rice husk / biomass

Depends on the price of

  • Crude Oil Brent

Sells to

  • Flexible packaging converters & laminators · BOPET polyester film (plain/metallized/coated/barrier)
  • Loop Industries Inc. · rDMT/rMEG/specialty polymers via 50/50 JV

About

What the company is, from our own records: where it sits, where it makes things, and what it is made of.

Sector
Capital Goods
Industry
Packaging
Classification
Capital Goods › Packaging
ISIN
INE778B01029

Business segments

  • Polyester chips and film · 87%
  • Speciality polymers · 13%

Plants

  • Hyderabad BOPET Plant (Ester Filmtech)
  • Khatima Integrated Film & Resin Plant · Khatima, Uttarakhand
  • Sitarganj rPET Recycling Plant · Sitarganj, Uttarakhand

News impact

Big market events that reach Ester Industries Limited, and how the effect spreads.

No recent market events reach this company.

Dividends, splits & big trades

Money paid out, share splits and buybacks, and big buys or sells by funds and insiders.

Dividends

17 Sep 2026unspecified₹0.25
19 Sep 2025unspecified₹0.6
20 Sep 2023unspecified₹0.5
20 Sep 2022unspecified₹1.9
22 Nov 2021interim₹1.4
17 Sep 2021unspecified₹1.9
2 Nov 2020interim₹1.5
20 Aug 2020unspecified₹2.5

Splits, bonuses & buybacks

  • daily-prices repair: 9 rows from NSE's archive (replace 1, delete 1, insert 7), 2016-10-30..2026-02-01 (docs/flat_day_repair.md)1× · 30 Oct 2016

Insider trades

DisclosedWhoTypeSharesValue ₹ Cr
1 Oct 2026Modi Rubber Limited · Promoter GroupSELL3,30,1123.35
17 Aug 2026Modi Rubber Limited · Promoter GroupSELL17,0000.17

Documents

Annual reports, results presentations and earnings calls, straight from the source.

Facts from company filings and exchange data. Not investment advice: nothing here tells you to buy or sell.