Ester Industries Limited (IN:ESTER)
:ESTER
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Ester Industries Limited
(ESTER)
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Rating:57Neutral
Price Target:
₹73.00
▼(-27.29% Downside)
Action:ReiteratedDate:04/01/26
The score is held back primarily by weak technicals (price far below key moving averages and bearish momentum). Financial performance is improving with strong revenue growth, better margins, and improved cash generation, but profitability and leverage risk remain. Valuation is hard to anchor due to a negative P/E, with only a modest dividend yield as support.
Positive Factors
Revenue and margin recovery
A 21.3% revenue increase alongside improved gross margins and positive EBIT/EBITDA indicates the company moved from loss-absorption to operational profitability. This durable improvement suggests better pricing or cost control and provides a foundation for sustained cash generation and reinvestment over the next 2-6 months.
Negative Factors
Low net profitability
Despite margin recovery at gross and operating levels, persistently low net profit margin limits retained earnings and the firm's ability to build buffers. Over months, low net margins make the business vulnerable to raw-material or energy cost shocks and constrain free cash flow upside.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue and margin recovery
A 21.3% revenue increase alongside improved gross margins and positive EBIT/EBITDA indicates the company moved from loss-absorption to operational profitability. This durable improvement suggests better pricing or cost control and provides a foundation for sustained cash generation and reinvestment over the next 2-6 months.
Read all positive factors
Ester Industries Limited (ESTER) vs. iShares MSCI India ETF (INDA)
Market Cap
₹8.42B
Dividend Yield0.56%
Average Volume (3M)23.75K
Price to Earnings (P/E)―
Beta (1Y)1.65
Revenue Growth16.82%
EPS GrowthN/A
CountryIN
Employees522
SectorBasic Materials
Sector Strength58
IndustryChemicals - Specialty
Share Statistics
EPS (TTM)-1.27
Shares Outstanding97,586,190
10 Day Avg. Volume53,727
30 Day Avg. Volume23,747
Financial Highlights & Ratios
PEG Ratio-0.77
Price to Book (P/B)1.50
Price to Sales (P/S)0.90
P/FCF Ratio14.23
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Ester Industries Limited Business Overview & Revenue Model
Company Description
Ester Industries Limited manufactures and sells polyester films and engineering plastics in India and internationally. The company offers polyester films comprising special chemical coated, metalized high barrier, metalized ultra-high barrier, tra...
How the Company Makes Money
Ester Industries makes money primarily by manufacturing and selling (1) polyester films and (2) polymer/engineering plastic products to business customers. Its core revenue stream comes from sales of specialty polyester films (e.g., for packaging,...
Ester Industries Limited Financial Statement Overview
Summary
Income Statement
75
Positive
Balance Sheet
68
Positive
Cash Flow
72
Positive
| Breakdown | TTM | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 13.57B | 12.82B | 10.57B | 11.08B | 11.08B | 9.88B |
| Gross Profit | 5.02B | 4.87B | 1.41B | 2.61B | 2.99B | 3.63B |
| EBITDA | 1.48B | 1.47B | 33.88M | 1.04B | 1.80B | 2.39B |
| Net Income | 38.45M | 136.98M | -1.21B | 1.37B | 1.37B | 1.37B |
Balance Sheet | ||||||
| Total Assets | 17.02B | 15.73B | 16.43B | 17.15B | 14.28B | 8.62B |
| Cash, Cash Equivalents and Short-Term Investments | 1.75B | 1.26B | 1.84B | 2.05B | 604.02M | 350.49M |
| Total Debt | 7.38B | 6.60B | 7.73B | 8.16B | 6.39B | 2.08B |
| Total Liabilities | 9.10B | 8.00B | 9.26B | 9.71B | 8.06B | 3.50B |
| Stockholders Equity | 7.92B | 7.73B | 7.18B | 7.43B | 6.22B | 5.12B |
Cash Flow | ||||||
| Free Cash Flow | -242.84M | 811.91M | -296.84M | -1.99B | -3.52B | 96.53M |
| Operating Cash Flow | 256.77M | 1.12B | 437.81M | 577.38M | 618.74M | 1.46B |
| Investing Cash Flow | -774.70M | -564.84M | 417.14M | -1.99B | -3.92B | -1.47B |
| Financing Cash Flow | 654.35M | -1.33B | -138.83M | 1.14B | 3.84B | 33.30M |
Ester Industries Limited Technical Analysis
Negative
100.40
Price Trends
94.31
Negative
99.34
Negative
107.82
Negative
Market Momentum
-4.65
Positive
42.64
Neutral
47.27
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:ESTER, the sentiment is Negative. The current price of 100.4 is above the 20-day moving average (MA) of 88.76, above the 50-day MA of 94.31, and below the 200-day MA of 107.82, indicating a bearish trend. The MACD of -4.65 indicates Positive momentum. The RSI at 42.64 is Neutral, neither overbought nor oversold. The STOCH value of 47.27 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:ESTER.
Ester Industries Limited Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
64 Neutral | ₹7.61B | 19.71 | ― | 0.38% | 13.01% | 32.44% | |
62 Neutral | ₹11.27B | 17.66 | ― | 0.52% | 28.67% | 50.12% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
60 Neutral | ₹9.32B | 22.24 | ― | 1.23% | 0.69% | -7.54% | |
59 Neutral | ₹5.32B | -33.35 | ― | 0.28% | 5.19% | -152.09% | |
57 Neutral | ₹8.42B | -20.11 | ― | 0.56% | 16.82% | ― | |
57 Neutral | ₹8.47B | 3.95 | ― | 0.82% | -2.41% | 178.19% |
* Basic Materials Sector Average
IN:ESTER
Ester Industries Limited
86.33
-22.01
-20.32%
IN:CHEMFAB
Chemfab Alkalis Ltd.
370.15
-439.46
-54.28%
IN:INDOAMIN
Indo Amines Limited
104.80
-10.55
-9.15%
IN:JAYAGROGN
Jayant Agro-Organics Limited
193.45
-27.04
-12.26%
IN:MANALIPETC
Manali Petrochemicals Limited
49.23
-4.27
-7.98%
IN:SHREEPUSHK
Shree Pushkar Chemicals & Fertilisers Ltd.
348.60
123.64
54.96%
Ester Industries Limited Corporate Events
Ester Industries Publishes Notice on Electronic Dispatch of Postal Ballot
Feb 20, 2026
Ester Industries Limited has published newspaper advertisements announcing the electronic dispatch of a postal ballot notice to its shareholders, in line with disclosure and advertising norms under SEBI’s listing regulations. The notice was ...
Ester Industries Grants ESOPs to Specialty Polymers CMO at Discounted Price
Jan 8, 2026
Ester Industries Limited has granted 19,188 stock options to its Chief Marketing Officer – Specialty Polyesters/Polymers, Mr. Kunal Tank, under the Ester Industries Limited Employees Stock Option Plan 2024, as approved by the Nomination and ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.