Ester Industries Returns To Profit As Q2 Income Rises 25.7%
Ester Industries Ltd reported a consolidated net profit of ₹7.8 crore for the second quarter ended September 30, 2026, against a loss of ₹15.8 crore a year earlier, supported by higher polyester film volumes, improved realisations and a stronger contribution from value-added products.
Consolidated total income rose 25.7% year-on-year to ₹449 crore, while EBITDA, including non-operating income, increased 160% to ₹45.1 crore. EBITDA margin expanded to 10% from 4.9%.
“Improvement witnessed in Q1FY27 continued during Q2FY27 with improving operating environment, higher realizations, increased throughput and a favorable product mix,” said Arvind Singhania, Chairman, Ester Industries.
Polyester film sales volumes increased 13.9% to 24,291 tonnes, while segment revenue grew 39.6% to ₹414.5 crore. Consolidated capacity utilisation improved to 92% from 80%, supported by higher production at Ester Industries and Ester Filmtech.
Volumes of value-added and specialty films rose 25.8% to 6,200 tonnes. Recycled PET sales volumes increased 37.4% to 1,437 tonnes, generating revenue of ₹18.4 crore, up 51%.
The specialty polymers business, however, recorded a 38.8% decline in sales volumes to 711 tonnes following weaker demand for a key product. Its EBIT margin stood at 33.9%, compared with 37% a year earlier. The company expects its product pipeline and anticipated customer approval for a new product to partly offset the decline.
For the first half of FY27, consolidated total income increased 26.5% to ₹891 crore, while EBITDA rose 124.6% to ₹104 crore. Net profit stood at ₹26.5 crore, against a loss of ₹22.9 crore.
Ester said its ELITe project in Gujarat was progressing towards implementation in the final quarter of calendar year 2028, with land acquisition expected to be completed by Q4FY27. An anchor-customer offtake agreement and a letter of intent from a global sports and athletic brand for Loop™ PET fibre-grade resin are expected to support advance commitments for a significant share of planned capacity.
The company cautioned that geopolitical uncertainty, higher shipping costs and longer transit times continued to affect raw material pricing visibility and working capital.
