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Ester Industries (ESTER)₹92.27−1.24%Packaging
In the Jun 2026 quarter (consolidated), Ester Industries reported sales of ₹432 Cr, up 27.8% from Jun 2025, and net profit of ₹18.95 Cr. For the year to Mar 2026, sales were ₹1,374 Cr and net profit −₹26.93 Cr.
Company filings, consolidated accounts; latest reported quarter Jun 2026
| Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 261 | 268 | 277 | 286 | 331 | 346 | 319 | 338 | 354 | 339 | 344 | 432 |
| Expenses | 271 | 286 | 270 | 274 | 290 | 285 | 282 | 317 | 339 | 322 | 301 | 382 |
| Operating Profit | −10.01 | −20.03 | 6.01 | 11.01 | 40.04 | 60.07 | 36.01 | 20.02 | 14.02 | 16.01 | 42.01 | 49.02 |
| OPM % | −3.9% | −7.0% | 2.2% | 3.9% | 12.1% | 17.0% | 11.1% | 6.0% | 4.0% | 4.8% | 12.0% | 11.0% |
| Other Income | 9.97 | 4.98 | 2.99 | 5.98 | 2.99 | 4.98 | 2.99 | 8.97 | 2.99 | 4.98 | 0.99 | 9.97 |
| Interest | 17.96 | 17.96 | 17.96 | 16.97 | 17.94 | 15.94 | 15.95 | 14.97 | 16.97 | 15.96 | 15.96 | 16.95 |
| Depreciation | 17.06 | 17.07 | 18.06 | 17.06 | 17.07 | 17.07 | 17.08 | 17.06 | 17.07 | 18.08 | 18.07 | 18.07 |
| Profit before tax | −35.09 | −50.14 | −27.11 | −17.04 | 7.03 | 31.10 | 6.02 | −4.01 | −17.07 | −13.04 | 9.03 | 24.08 |
| Tax % | −13.1% | −10.1% | −11.1% | −3.0% | 55.0% | 21.0% | 68.9% | 87.9% | −8.1% | −2.0% | 16.9% | 20.9% |
| Net Profit | −29.91 | −44.90 | −23.94 | −15.97 | 2.99 | 24.94 | 1.99 | −6.98 | −15.97 | −11.98 | 7.98 | 18.95 |
| EPS (Rs) | −3.66 | −5.38 | −2.53 | −1.70 | 0.33 | 2.65 | 0.22 | −0.74 | −1.63 | −1.28 | 0.82 | 1.78 |
| Mar 2015 | Mar 2016 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|
| Sales | 895 | 768 | 992 | 1,109 | 1,114 | 1,063 | 1,281 | 1,374 | 1,469 |
| Expenses | 821 | 695 | 757 | 935 | 1,018 | 1,082 | 1,131 | 1,277 | 1,343 |
| Operating Profit | 72.05 | 71.07 | 231 | 171 | 93.13 | −23.01 | 147 | 93.01 | 121 |
| OPM % | 8.0% | 9.1% | 23.1% | 15.0% | 8.0% | −2.1% | 12.1% | 7.0% | 8.2% |
| Other Income | 2.99 | 4.99 | 7.97 | 59.81 | 136 | 25.91 | 15.94 | 17.94 | 18.93 |
| Interest | 36.88 | 35.88 | 18.95 | 24.92 | 35.89 | 69.85 | 66.81 | 64.82 | 65.84 |
| Depreciation | 32.15 | 32.14 | 35.16 | 37.17 | 44.20 | 68.22 | 69.32 | 70.29 | 71.29 |
| Profit before tax | 5.01 | 7.02 | 186 | 170 | 150 | −136 | 28.10 | −24.07 | 3.00 |
| Tax % | 20.9% | 32.9% | 25.9% | 18.9% | 7.9% | −10.1% | 50.9% | 12.9% | — |
| Exceptional items | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 10.98 | 0.00 | 0.00 | — |
| Net Profit | 3.99 | 4.99 | 137 | 137 | 137 | −121 | 13.97 | −26.93 | −1.02 |
| EPS (Rs) | 0.62 | 0.56 | 16.48 | 16.40 | 16.44 | −12.89 | 1.47 | −2.82 | −0.31 |
| Dividend payout % | 0.0% | 0.0% | 20.9% | 20.0% | 3.0% | 0.0% | 0.0% | −9.0% | — |
| Mar 2015 | Mar 2016 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|
| Equity Capital | 30.98 | 42.01 | 41.95 | 42.01 | 41.95 | 46.97 | 46.97 | 48.98 |
| Reserves | 241 | 250 | 470 | 580 | 702 | 671 | 727 | 735 |
| Borrowings | 377 | 317 | 209 | 642 | 819 | 776 | 662 | 731 |
| Other Liabilities | 66.69 | 79.80 | 142 | 167 | 154 | 153 | 139 | 162 |
| Total Liabilities | 715 | 689 | 863 | 1,430 | 1,717 | 1,646 | 1,575 | 1,677 |
| Fixed Assets | 400 | 385 | 378 | 391 | 980 | 991 | 978 | 979 |
| CWIP | 11.99 | 22.98 | 75.96 | 435 | 78.98 | 82.95 | 38.98 | 36.01 |
| Investments | 0.00 | 0.00 | 1.01 | 0.00 | 154 | 69.23 | 75.18 | 78.26 |
| Other Assets | 304 | 281 | 408 | 605 | 504 | 503 | 483 | 583 |
| Inventories | 127 | 128 | 136 | 202 | 171 | 144 | 160 | 208 |
| Trade receivables | 118 | 112 | 151 | 193 | 152 | 147 | 170 | 185 |
| Cash & equivalents | 22.99 | 7.99 | 27.95 | 60.96 | 51.95 | 117 | 67.94 | 105 |
| Total Assets | 715 | 689 | 863 | 1,430 | 1,717 | 1,646 | 1,575 | 1,677 |
| Mar 2015 | Mar 2016 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|
| Cash from operating activity | 67.78 | 80.70 | 145 | 61.76 | 57.77 | 43.84 | 112 | 88.70 |
| Cash from investing activity | −35.88 | −19.94 | −147 | −391 | −198 | 41.90 | −55.87 | −116 |
| Cash from financing activity | −18.04 | −75.17 | 3.01 | 385 | 114 | −14.04 | −133 | 6.02 |
| Net cash flow | 13.99 | −13.98 | 1.99 | 53.97 | −27.98 | 71.94 | −76.87 | −20.97 |
| Capex | 37.01 | 23.99 | 136 | 414 | 257 | 73.06 | 30.99 | 60.95 |
| Free cash flow | 31.98 | 57.92 | 9.98 | −352 | −198 | −27.95 | 81.87 | 26.98 |
| CFO / OP % | 97.1% | 117.1% | 83.1% | 69.1% | 73.1% | −201.9% | 78.1% | 101.1% |
| Mar 2015 | Mar 2016 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|
| Debtor days | 47 | 52 | 55 | 63 | 49 | 50 | 47 | 48 |
| Inventory days | 74 | 96 | 98 | 110 | 88 | 70 | 74 | 86 |
| Days payable | 12 | 18 | 28 | 35 | 18 | 32 | 23 | 28 |
| Cash conversion cycle | 112 | 133 | 127 | 140 | 122 | 91 | 102 | 109 |
| Working capital days | −7 | 0 | 51 | 65 | 14 | −25 | 13 | 21 |
| ROCE % | 7.1% | 7.0% | — | 14.1% | 4.0% | −5.0% | 6.1% | 3.0% |
For the Jun 2026 quarter, Ester Industries reported sales of ₹432 Cr, up 27.8% year on year and net profit of ₹18.95 Cr. The operating margin was 11.0%.
Ester Industries' sales for the year to Mar 2026 were ₹1,374 Cr; over the last twelve months they were ₹1,469 Cr.
Net profit for the year to Mar 2026 was −₹26.93 Cr, and −₹1.02 Cr over the last twelve months. Earnings per share over the same trailing period were ₹−0.31.
Ester Industries reported borrowings of ₹731 Cr at Mar 2026, against cash and equivalents of ₹105 Cr.
Cash from operations was ₹88.70 Cr in the year to Mar 2026; after capital spending, free cash flow was ₹26.98 Cr.