Ester Industries Limited (500136) Earnings Call Transcripts
Ester Industries Limited's Latest Earnings Call - Q4 FY2026
In Q4 FY '26, Ester Industries Limited reported a consolidated total income of INR 345.1 crores, reflecting a year-on-year growth of 7.2%. The company achieved an EBITDA of INR 43.3 crores, marking a 10.7% increase year-on-year, with an EBITDA margin of 12.6%. Management highlighted that the moderation of external headwinds, particularly in the BOPET film segment, positions the company favorably for FY '27, with expectations of improved margins and sustained growth driven by regulatory changes and increased demand for specialty products.
Reported metrics
| Metric | Value |
|---|---|
| Consolidated Total Income | INR 345.1 crores (beat) |
| Consolidated EBITDA | INR 43.3 crores (beat) |
| EBITDA Margin | 12.6% (beat) |
| Specialty Polymers Revenue | INR 179.3 crores (beat) |
| rPET Revenue | INR 59.3 crores (beat) |
| Ester Filmtech Total Income | INR 131.7 crores (beat) |
Guidance from management
Management anticipates a strong FY '27, with expectations for continued margin improvement and sustained demand growth due to regulatory changes and operational enhancements. They expect EBITDA margins to be better than historical averages over the next 18 to 24 months.
What management said
Yes. So let me answer this. So 15.5% EBITDA without mark-to-market is because of the structural industry improvement that we have seen. Now whether it will be 15% or lower than 15% will depend on the prevailing market conditions. But I think what we can be assured of is that the EBITDA margins are going to be far better than what we had seen, say, on an average over the last 12 months or 15 months.
Our take is that when we look at the global supply-demand dynamics and the domestic supply-demand dynamics, we see that the sustenance of BOPET margins is going to continue for around 18 to 24 months at least.
What analysts pressed on
Analysts expressed concerns regarding the Specialty Polymers segment's declining margins and the impact of currency fluctuations on financial performance. There were also questions about the sustainability of EBITDA margins and the timeline for the ELITe project to contribute to revenues.
Main topics on the call
- BOPET Film Segment Recovery — Management noted a significant recovery in the BOPET film segment, stating, "We believe BOPET Film segment has now emerged from the bottom of the cycle with antidumping duties that are soon expected to be notified by cus...
- Growth in Specialty Polymers — The Specialty Polymers segment saw a 21% year-on-year increase in sales volume, with revenue growing 16% to INR 179.3 crores. Management expressed confidence in the segment's growth, stating, "We remain confident of deli...
- Recycled PET Business Surge — The rPET business experienced a dramatic growth, with volumes surging 126% year-on-year in Q4 FY '26. Revenue from rPET increased 3.7x to INR 59.3 crores, driven by rising demand for sustainable packaging solutions.
- Operational Improvements — Ester Filmtech reported a significant turnaround, with sales volume increasing by 53.3% and total income rising 67.7% to INR 131.7 crores. The EBITDA margin improved to 14.1%, showcasing operational efficiency.
Read the full Ester Industries Limited transcript (Q4 FY2026) → Summary generated from the call transcript; every figure above is stated by management on the record.
About Ester Industries Limited
Ester Industries Limited (500136) is a publicly listed company in the Chemicals industry, within the Materials sector. It trades on BSE and is based in IN. EarningsCalls.dev maintains a free, full-text archive of its earnings call transcripts — 26 calls on record spanning February 12, 2020 to August 18, 2026. Every transcript is split into speaker-by-speaker segments with headline metrics, free to read or available through our REST API.
Earnings Call History
EarningsCalls.dev has 26 Ester Industries Limited earnings call transcripts on record, spanning February 12, 2020 to August 18, 2026. Based on this history, Ester Industries Limited reports quarterly. The most recent call on file is dated August 18, 2026. The full list is below — each row opens the complete, free-to-read transcript.