| Revenue growth | Consolidated income +25.7% YoY; film revenue +39.6%, mostly price-led. |
|---|---|
| Margins | Consolidated EBITDA margin 10%, up ~510 bps YoY; sequentially softer. |
| Demand visibility | Industry demand 8-10% growth; capacity additions trail demand next 8-10 quarters. |
| Management confidence | Balanced-to-optimistic; acknowledges specialty demand erosion, guides recovery. |
Growth
Consolidated total income up 25.7% YoY to ₹449 Cr. Film revenue rose 39.6% against volume growth of 13.9%, so growth is price-led.
Outlook
Expects H2 FY27 similar to or slightly better than H1. Specialty recovery expected from Q4 FY27. Elite project capex ₹1,200–1,400 Cr.
Risks
Specialty polymer revenue down 49% after a customer technology switch. ₹66.7 Cr working-capital build and debt up to ₹748.8 Cr from ₹729 Cr.
Last quarter's promises, checked
Delivered
- Guided no major capex beyond maintenance → H1 capex ₹15.1 Cr (= BEAT)
Partly delivered
- Guided Q2 utilisation above Q1's 84% → film volume +13.9% YoY vs +2.7% in Q1; utilisation undisclosed (= PARTIAL)
Missed
- Guided Specialty flat to single-digit FY27 growth → Q2 revenue down 49% YoY (= MISS)
- Guided ₹100 Cr debt cut (₹720→₹620 Cr) → borrowings up to ₹748.8 Cr (= MISS)
- Guided improving profitability ahead → EBITDA ₹45.1 Cr vs Q1 ₹58.9 Cr (= MISS)
Earnings Call Transcript filed with NSE, NSE: ESTER. Summary written with AI assistance from the document.
Ester Industries Ltd: key numbers
- Share price
- ₹92.41
- Market cap
- ₹963.8 Cr
- Revenue (annual)
- ₹1,375 Cr
- Net profit (annual)
- ₹-27.47 Cr
- P/E (TTM)
- 44.0×Sector 47.2×
- Promoter holding
- 62.31%-0.01% QoQ
- FII holding
- 0.12%Current quarter
Reference market data from a third-party provider, updated daily. Not a valuation or a recommendation.
More from Ester Industries Ltd
All →Ester Industries Results Update
Ester Industries posted Q2FY27 revenue of ₹449 Cr (up 26%) and EBITDA of ₹45 Cr (up 160% Y-o-Y). PAT swung to ₹7.8 Cr profit from a ₹15.8 Cr loss.
Ester Industries Investor Presentation: Key Takeaways
Q2 FY27 consolidated income ₹449 Cr (+25.7%), EBITDA ₹45.1 Cr (+160%), margin 10.0%, PAT ₹7.8 Cr vs prior loss. Film-led recovery; Specialty volumes down.
Ester Industries Other Announcement
Ester Industries filed its quarterly Monitoring Agency report for the convertible-warrants preferential issue. CRISIL confirmed the issue proceeds were utilised as per the offer document with no deviation.
Ester Industries Q2 FY27 Results: Turns Profitable, Net Profit ₹7.8 Cr
Ester Industries Ltd reported revenue from operations of ₹443.8 Cr (+25.3% YoY) and net profit of ₹7.8 Cr for Q2 FY27.
- Key figure
- Net profit ₹7.8 Cr
Ester Industries Board Meeting Date
Ester Industries informs that its Board will meet on 3 Nov 2026 to approve un-audited Q2/H1 results. No financial figures or other decisions are announced at this stage.
Ester Industries Other Announcement
Ester Industries Ltd filed its quarterly shareholding pattern for the period ended September 30, 2026, as per SEBI regulations.