Ester Industries Limited — PPTs, 07-02-2026: Investor Presentation

The company's consolidated income for the nine months increased 7.2% YoY to Rs. 1,047.6 Cr, driven by strong demand for Specialty Polymers and rPET. However, Q3 saw income decline 2.1% to Rs. 343.5 Cr. Profitability was significantly impacted, with 9M EBITDA down 46.1% to Rs. 67.3 Cr and a PAT loss of Rs. 35.4 Cr, largely due to US trade tariffs on BOPET films and predatory pricing from China. Specialty Polymers revenue surged 72.9% to Rs. 51.2 Cr, and rPET sales volume jumped 286.7%.

Strategic focus areas include increasing value-added products and improving operational efficiency. A major growth driver is the 50:50 Joint Venture, ELITe, with Loop Industries for a chemical recycling plant to produce virgin-quality rDMT/rMEG from polyester waste, supporting a circular economy.

The ELITe JV recently secured a multi-year off-take agreement with Nike for its 'Twist' recycled polyester resin. A new US-India trade deal, expected to reduce tariffs on BOPET films from 50% to 18%, is a positive development. An anti-dumping investigation into Chinese BOPET film imports is also underway.

Management is optimistic about future prospects, anticipating improved margins from the US-India trade deal and a recovering domestic market as Chinese output moderates. They foresee demand growth from India's economy, new trade agreements, and regulations driving recycled content in packaging, aligning with their focus on sustainable, advanced specialty products.