Ester Industries Limited — Investor Meet, 13-02-2026: Analysts/Institutional Investor Meet/Con. Call Updates

Ester Industries reported Q3 FY26 consolidated income declined 2.1% to INR343.5 Cr, with EBITDA down 67.7% to INR21 Cr. This was primarily due to aggressive Chinese BOPET dumping, US trade tariffs, and Rupee depreciation. Specialty Polymers delivered strong volume (up 46.4%) and revenue (up 72.9%) growth. Management anticipates an improving outlook, driven by expected US tariff reduction (50% to 18%), ongoing anti-dumping investigation on Chinese imports, and robust domestic BOPET demand due to plastic waste management rules. The Elite chemical recycling JV, with Nike as an anchor customer, is progressing. The company expects to be at the bottom of the cycle, forecasting improved profitability and operating rates ahead.