As of 6 Nov 2026, Ester Industries is loss-making on a trailing 12-month basis, so it has no P/E ratio. The share price is ₹92.41, 23% below its 52-week high. Sales grew 7.4% a year over 3 years. Debt is 0.84× equity, and its dividend yield is 0.3%. It is a small-cap company with a market cap of ₹964 Cr, ranked 83rd of 204 Specialty Chemicals companies by market cap; the shares fell 17% over the past year.
- ₹93.98
- ₹95.00
- ₹92.02
- ₹92.15
- 1.9 L
Health check
- ReturnsBehind
−17.0% over a year, better than 0 of 7 peers.
- Price tagLoss-making
Earnings were negative over the last 12 months.
- GrowthUnder pressure
Sales +7.4% a year over 3 years, but loss-making now.
- ProfitabilityWeak
ROCE 3.2% vs peer median 24.4%.
- Balance sheetStretched
Debt 0.84× equity, interest covered 0.6×, Piotroski 4 of 9.
- Red flags3 to check
Loss-making over the last twelve months.
Small cap
Market sensitivity
Key metrics
- Market cap
- ₹964 Cr
- Small cap
- P/E
- n/a
- Industry 22.1
- Price to book
- 1.09
- Peers 13.33
- Dividend yield
- 0.27%
- ROE
- 2.6%
- Peers 23.0%
- ROCE
- 3.2%
- Peers 24.4%
- Debt to equity
- 0.84
- Debt ₹749 Cr
- EPS (TTM)
- −₹0.24
- Face value ₹5
- OPM (TTM)
- 8.4%
- Net margin 1.4%
- Sales growth
- +27.8%
- Latest quarter vs a year ago
- Profit growth
- n/a
- Year-ago quarter not reported
- Price to sales
- 0.62
- EV/EBITDA 8.2
Strengths and risks
Strengths
- Quarterly sales up 27.8% on a year ago.
- Positive operating cash flow in each of the last 4 years.
Risks to check
- Loss-making over the last twelve months.
- Return on equity is low at 2.6%.
- Interest coverage of only 1.9×.
About Ester Industries
Ester Industries Limited engages in the manufacture and sale of polyester films in India and internationally. It operates through Polyester chips and films; and Specialty Polymers segments. The company offers polyester films, including lidding and sealable films, barrier films, PCR and sustainable films, label films, and decorative, visual and brand enhancement films. It also provides textile and industrial polymers, such as flame-retardant, recycled…
- Headquarters
- Gurugram
- Employees
- 446
- Sector
- Basic Materials
- ISIN
- INE778B01029
- Website
- esterindustries.com
Price range
- Avg volume (3M)
- 2.2 L
- 1-year return
- minus 17.0%
- From 52-week high
- minus 23.0%
Peers · Specialty Chemicals
| Company | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| ASIANPAINTAsian Paints | 2,546.00 | plus 0.88% | 2,44,025 | 50.5 | 35.0 | 24.4% | 18.9% | 0.21 | 1.1% | plus 1.5% |
| SOLARINDSSolar Industries India | 18,608.00 | plus 0.48% | 1,68,384 | 74.4 | 64.1 | 29.5% | 27.8% | 0.22 | 12.4% | plus 35.9% |
| PIDILITINDPidilite Industries | 1,579.00 | plus 1.63% | 1,60,827 | 60.0 | 44.4 | 28.5% | 23.5% | 0.03 | 7.4% | plus 6.8% |
| LINDEINDIALinde India | 6,859.00 | plus 8.73% | 58,496 | 118.4 | 64.2 | 16.3% | 31.5% | 0.23 | – | plus 5.4% |
| BERGEPAINTBerger Paints India | 478.35 | minus 5.28% | 55,776 | 45.4 | 29.4 | 20.6% | 15.3% | 0.15 | 4.2% | minus 6.0% |
| FLUOROCHEMGujarat Fluorochemicals | 4,665.50 | minus 0.94% | 51,251 | 75.9 | 44.0 | 9.6% | 24.1% | 0.26 | −4.5% | plus 28.0% |
| ACUTAASAcutaas Chemicals | 3,786.60 | plus 0.42% | 31,001 | 70.9 | 64.1 | 27.7% | 39.4% | 0.01 | 29.4% | plus 105.6% |
| ESTEREster Industries | 92.41 | plus 0.28% | 964 | – | 12.3 | 3.2% | 8.4% | 0.93 | 7.4% | minus 17.0% |
| Median of 7 peers | – | 0.48% | 58,496 | 70.9 | 44.4 | 24.4% | 24.1% | 0.21 | 5.8% | 6.8% |
Quarterly results
| ₹ Cr | Jun 25 | Sep 25 | Dec 25 | Mar 26 | Jun 26 |
|---|---|---|---|---|---|
| 338 | 354 | 339 | 344 | 432 | |
| 318 | 339 | 322 | 302 | 383 | |
| 20.5 | 15 | 16.7 | 42.3 | 49.6 | |
| 6.1% | 4.2% | 4.9% | 12.3% | 11.5% | |
| 8.4 | 2.3 | 4.2 | 1 | 9.3 | |
| 15.5 | 17.2 | 16 | 16.2 | 17.1 | |
| 17.3 | 17.3 | 17.6 | 17.7 | 18.3 | |
| −3.8 | −17.2 | −12.7 | 9.4 | 23.5 | |
| −87.8% | 8.4% | 2.1% | 16.6% | 20.9% | |
| −7.2 | −15.8 | −12.4 | 7.9 | 18.6 | |
| -0.74 | -1.62 | -1.27 | 0.81 | 1.84 |
Profit & loss
- Sales CAGR 3Y
- +7.4%
- ROE
- 2.6%
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 1,108 | 1,057 | 1,277 | 1,371 | |
| – | minus 4.6% | +20.8% | +7.4% | |
| 1,004 | 1,074 | 1,120 | 1,246 | |
| 104 | −17 | 157 | 125 | |
| 9.4% | −1.6% | 12.3% | 9.1% | |
| −3.5 | 4.2 | 5.6 | −17.1 | |
| 36.3 | 70.4 | 67.3 | 64.9 | |
| 43.9 | 68 | 68.8 | 69.9 | |
| 3.5 | 16.2 | 1.2 | 2.6 | |
| 23.9 | −135 | 27.8 | −24.3 | |
| 51.2% | 10.3% | 50.7% | −13.1% | |
| 137 | −121 | 13.7 | −27.5 | |
| – | minus 188.4% | – | minus 300.5% | |
| 16.42 | -14.49 | 1.46 | -2.82 |
Forecast
Balance sheet
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 41.7 | 47 | 47 | 48.8 | |
| 702 | 671 | 725 | 734 | |
| 816 | 773 | 660 | 729 | |
| 155 | 153 | 140 | 162 | |
| 1,715 | 1,643 | 1,573 | 1,674 | |
| 1,085 | 1,079 | 1,033 | 1,024 | |
| 108 | 90.6 | 56.2 | 46.4 | |
| 5.2 | 2.8 | 3.1 | 3.1 | |
| 205 | 184 | 124 | 159 | |
| 311 | 287 | 356 | 441 | |
| 1,715 | 1,643 | 1,573 | 1,674 |
Cash flow
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 57.7 | 43.8 | 112 | 88.5 | |
| −199 | 41.7 | −56.5 | −116 | |
| 114 | −13.9 | −133 | 6.5 | |
| −27.8 | 71.6 | −77.4 | −21.4 | |
| −257 | −73.5 | −31 | −61.4 | |
| −199 | −29.7 | 81.2 | 27.1 | |
| −15.8 | −4.2 | – | −5.9 |
Shareholding pattern
- Promoters62.31%
- Public37.69%
| Quarter | Split | Promoters | Public | Promoter change |
|---|---|---|---|---|
| 30 Sep 2026 | 62.31% | 37.69% | minus 0.01 | |
| 30 Jun 2026 | 62.32% | 37.68% | 0.00 | |
| 12 May 2026 | 62.32% | 37.68% | minus 0.39 | |
| 31 Mar 2026 | 62.71% | 37.29% | 0.00 | |
| 31 Dec 2025 | 62.71% | 37.29% | – |
Major shareholders
Filings & events
News
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