Ester Industries Limited has informed the Exchange about Transcript
ESTER · price
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Ester Industries reported a strong Q1 FY26 with consolidated revenue up 18.6% YoY to INR 346.85 crores and EBITDA margin expanding 240 basis points to 8.35% (which would have been 11.8% excluding adverse forex/MTM impact of ~INR 12 crores). Standalone PAT swung from a loss of INR 2.04 crores to a profit of INR 9.64 crores, with standalone EBITDA margin rising 427 bps to 11.21%. Polyester Films capacity utilization improved sharply to 82% from 64% YoY, with value-added products now 24% of segment volume (up 37% in absolute terms), and rPET revenue surging from INR 0.5 crores to INR 14 crores. Subsidiary Ester Filmtech posted 23% volume growth but reported negative EBITDA purely due to forex/MTM losses. The company targets 30% value-added share by Q4 FY26, expects 20-25% annual growth in Specialty Polymers over 3-4 years, and is on track to commission its 20,000-ton rPET plant in Hyderabad by September 2025. Management also indicated limited exposure to US tariffs (only 10% of revenue, with price resilience in specialty products) and reaffirmed that the Loop Industries joint venture remains on schedule for Q4 CY27.
Strong operational momentum with significant margin expansion and capacity utilization improvement signals healthy underlying business growth, while reported profitability is temporarily dragged by non-cash forex/MTM losses. The rPET capacity addition and 30% VAS target provide clear near-term growth visibility, though Ester Filmtech's path to sustained profitability remains dependent on forex stabilization.