Ester Industries Limited (IN:ESTER)
:ESTER
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Ester Industries Limited
(ESTER)
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Rating:57Neutral
Price Target:
₹95.00
▼(-5.38% 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 & Margin Recovery
A 21% revenue rebound with improved gross and positive EBIT/EBITDA margins indicates durable operational recovery and better cost control. If sustained, this supports reinvestment into higher‑margin specialty films and strengthens earnings resilience over the next several quarters.
Negative Factors
Significant Remaining Debt
Material outstanding debt creates ongoing interest and refinancing obligations that can strain cash flow if margins or volumes falter. Persisting leverage limits strategic optionality and raises vulnerability to higher rates or cyclical downturns over the next 2–6 months.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue & Margin Recovery
A 21% revenue rebound with improved gross and positive EBIT/EBITDA margins indicates durable operational recovery and better cost control. If sustained, this supports reinvestment into higher‑margin specialty films and strengthens earnings resilience over the next several quarters.
Read all positive factors
Ester Industries Limited (ESTER) vs. iShares MSCI India ETF (INDA)
Market Cap
₹8.80B
Dividend Yield0.56%
Average Volume (3M)23.75K
Price to Earnings (P/E)―
Beta (1Y)1.65
Revenue Growth8.96%
EPS Growth-115.56%
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 makes money primarily by manufacturing and selling polyester (BOPET) films to customers that convert these films into end-use products such as flexible packaging laminates and a variety of industrial applications. Revenue is generated from (...
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
Neutral
100.40
Price Trends
93.65
Negative
98.19
Negative
106.52
Negative
Market Momentum
-0.71
Negative
54.61
Neutral
85.38
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:ESTER, the sentiment is Neutral. The current price of 100.4 is above the 20-day moving average (MA) of 87.17, above the 50-day MA of 93.65, and below the 200-day MA of 106.52, indicating a neutral trend. The MACD of -0.71 indicates Negative momentum. The RSI at 54.61 is Neutral, neither overbought nor oversold. The STOCH value of 85.38 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral 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 |
|---|---|---|---|---|---|---|---|
74 Outperform | ₹12.80B | 17.66 | ― | 0.52% | 25.74% | 32.15% | |
64 Neutral | ₹8.17B | 19.71 | ― | 0.38% | 7.76% | 28.57% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
61 Neutral | ₹9.18B | 3.95 | ― | 0.82% | 4.01% | 464.58% | |
60 Neutral | ₹5.85B | 22.24 | ― | 1.23% | -5.04% | -26.70% | |
59 Neutral | ₹5.80B | -33.35 | ― | 0.28% | 1.30% | -269.92% | |
57 Neutral | ₹8.80B | -20.11 | ― | 0.56% | 8.96% | -115.56% |
* Basic Materials Sector Average
IN:ESTER
Ester Industries Limited
90.17
-31.05
-25.61%
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IN:SHREEPUSHK
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Ester Industries Limited Corporate Events
Ester Industries Launches 100-Day Drive to Help Investors Claim Unpaid Dividends
Apr 30, 2026
Ester Industries Limited has launched the “Saksham Niveshak” Second 100 Days Campaign, following a request from the Investor Education and Protection Fund Authority under the Ministry of Corporate Affairs. The initiative, running from ...
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 ...
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.