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Swing Capital

Ester Industries Ltd

NSE: ESTER BSE: 500136

Incorporated in 1985, Ester Industries Ltd is a manufacturer of polyester film and engineering plastics.[1]

₹97.4
52W: ₹68.6 — ₹156
PE 218 · Book ₹97.3 · +0% vs book
Market Cap₹951 Cr
Stock P/E218Price to Earnings
ROCE3.42%Return on Capital
ROE0.47%Return on Equity
Div. Yield0.61%Face Value ₹5

Strengths

  • +Stock is trading at 0.99 times its book value

Weaknesses

  • −Company has low interest coverage ratio.
  • −The company has delivered a poor sales growth of 1.05% over past five years.
  • −Company has a low return on equity of -0.40% over last 3 years.
  • −Contingent liabilities of Rs.504 Cr.

Shareholding Pattern

Promoters62.72%
FIIs0.05%
DIIs0.16%
Public37.07%
CategoryJun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters62.45%62.4%▼0.162.4%62.4%62.73%▲0.362.73%62.72%▼0.062.72%
FIIs0.03%0.1%▲0.10.04%▼0.10.08%▲0.00.17%▲0.10.03%▼0.10.06%▲0.00.05%▼0.0
DIIs0.01%0.44%▲0.40.01%▼0.40.01%0.01%0.04%▲0.00.13%▲0.10.16%▲0.0
Public37.49%37.06%▼0.437.55%▲0.537.51%▼0.037.09%▼0.437.19%▲0.137.09%▼0.137.07%▼0.0

Financial Statements

MetricDec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Sales203.84215.85239.63298.08274.72258.03279.01260250.06256.06
Expenses212.13211.46226.85266.11233.07225.2253.04249.27239.68231.7
Operating Profit-8.294.3912.7831.9741.6532.8325.9710.7310.3824.36
OPM %-4.07%2.03%5.33%10.73%15.16%12.72%9.31%4.13%4.15%9.51%
Net Profit-16.13-9.16-2.0411.6418.6112.339.64-4.81-4.894.44
EPS ₹-1.93-0.97-0.221.241.981.310.99-0.49-0.50.45

AI Insights

Revenue Trend

Mar 2026 revenue at ₹1,045Cr, down 2.3% YoY. OPM at 7%.

Debt Position

Borrowings at ₹334Cr. Debt-to-equity ratio: 0.37x. Healthy balance sheet.

Capex Cycle

CWIP at ₹34Cr (9% of fixed assets). Moderate ongoing capital expenditure.

Institutional Flow

DIIs: 0.16% (+0.15pp change). FIIs: 0.05% (-0.11pp change). Promoters hold 62.72%.

Margin & Efficiency

ROCE declining from 7% (Mar 2015) to 3% (Mar 2026). Working capital days: 39.

Valuation

PE 218x with 3.42% ROCE. Price is 0% above book value of ₹97.3. Dividend yield: 0.61%.

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