| Scrip Code | 500136 |
|---|---|
| NSE Symbol | ESTER |
| MSEI Symbol | NOTLISTED |
| ISIN | INE778B01029 |
| Name of company | ESTER INDUSTRIES LIMITED |
| Type of company | Main Board |
| Class of security | Equity |
| Date of start of financial year | 01-04-2025 |
| Date of end of financial year | 31-03-2026 |
| Date of board meeting when results were approved | 06-02-2026 |
| Date on which prior intimation of the meeting for considering financial results was informed to the exchange | 02-02-2026 |
| Description of presentation currency | INR |
| Level of rounding used in financial results | Lakhs |
| Reporting Type | Quarterly |
| Reporting Quarter | Third quarter |
| Nature of report standalone or consolidated | Standalone |
| Whether results are audited or unaudited for the quarter ended | Unaudited |
| Whether results are audited or unaudited for the Year to date for current period ended/year ended | Unaudited |
| Segment Reporting | Multi segment |
| Description of single segment | |
| Start date and time of board meeting | 06-02-2026 10:30:00 |
| End date and time of board meeting | 06-02-2026 12:00:00 |
| Whether cash flow statement is applicable on company | |
| Type of cash flow statement | |
| Declaration of unmodified opinion or statement on impact of audit qualification | Declaration of unmodified opinion |
| Whether statement on deviation or variation for proceeds of public issue, rights issue, preferential issue, qualified institutions placement etc. is applicable to the company for the current quarter? | Yes |
| No. of times funds raised during the quarter | 1 |
| Whether the disclosure for the Default on Loans and Debt Securities is applicable to the entity? | No |
| 1. Not Applicable 2. We hereby confirm, that there is no deviation or variation in the use of funds, raised through Preferential Issue of fully convertible warrants, from the objects stated in the Explanatory Statement to the Notice of Postal Ballot dated 14th September 2024. Accordingly, a Nil Statement of deviation or variation, duly reviewed by the Audit Committee of the Company for the quarter ended on 31st December2025 is submitted herewith. Also, it is hereby submitted that no funds have been raised during the reporting quarter. | |
| Particulars | 3 months/ 6 months ended (dd-mm-yyyy) | Year to date figures for current period ended (dd-mm-yyyy) | |
|---|---|---|---|
| A | Date of start of reporting period | 01-10-2025 | 01-04-2025 |
| B | Date of end of reporting period | 31-12-2025 | 31-12-2025 |
| C | Whether results are audited or unaudited | Unaudited | Unaudited |
| D | Nature of report standalone or consolidated | Standalone | Standalone |
| 1 | Income | ||
| Revenue from operations | 25,006.11 | 78,907.04 | |
| Other income | 395.86 | 1,323.01 | |
| Total income | 25,401.97 | 80,230.05 | |
| 2 | Expenses | ||
| (a) | Cost of materials consumed | 16,946.29 | 53,519.48 |
| (b) | Purchases of stock-in-trade | 0.00 | 0.00 |
| (c) | Changes in inventories of finished goods, work-in-progress and stock-in-trade | (7.00) | (261.72) |
| (d) | Employee benefit expense | 1,912.11 | 5,100.82 |
| (e) | Finance costs | 861.11 | 2,619.41 |
| (f) | Depreciation, depletion and amortisation expense | 1,088.03 | 3,255.96 |
| (f) | Other Expenses | ||
| 1 | Other Expenses | 5,116.50 | 15,839.72 |
| Total other expenses | 5,116.50 | 15,839.72 | |
| Total expenses | 25,917.04 | 80,073.67 | |
| 3 | Total profit before exceptional items and tax | (515.07) | 156.38 |
| 4 | Exceptional items | 0.00 | 0.00 |
| 5 | Total profit before tax | (515.07) | 156.38 |
| 6 | Tax expense | ||
| 7 | Current tax | (72.41) | 115.63 |
| 8 | Deferred tax | 46.06 | 47.09 |
| 9 | Total tax expenses | (26.35) | 162.72 |
| 10 | Net movement in regulatory deferral account balances related to profit or loss and the related deferred tax movement | 0.00 | 0.00 |
| 11 | Net Profit Loss for the period from continuing operations | (488.72) | (6.34) |
| 12 | Profit (loss) from discontinued operations before tax | 0.00 | 0.00 |
| 13 | Tax expense of discontinued operations | 0.00 | 0.00 |
| 14 | Net profit (loss) from discontinued operation after tax | 0.00 | 0.00 |
| 15 | Share of profit (loss) of associates and joint ventures accounted for using equity method | 0.00 | 0.00 |
| 16 | Total profit (loss) for period | (488.72) | (6.34) |
| 17 | Other comprehensive income net of taxes | 40.89 | 8.21 |
| 18 | Total Comprehensive Income for the period | (447.83) | 1.87 |
| 19 | Total profit or loss, attributable to | ||
| Profit or loss, attributable to owners of parent | |||
| Total profit or loss, attributable to non-controlling interests | |||
| 20 | Total Comprehensive income for the period attributable to | ||
| Comprehensive income for the period attributable to owners of parent | |||
| Total comprehensive income for the period attributable to owners of parent non-controlling interests | |||
| 21 | Details of equity share capital | ||
| Paid-up equity share capital | 4,879.31 | 4,879.31 | |
| Face value of equity share capital | 5 | 5 | |
| 27 | Details of debt securities | ||
| 22 | Reserves excluding revaluation reserve | ||
| 23 | Earnings per share | ||
| i | Earnings per equity share for continuing operations | ||
| Basic earnings (loss) per share from continuing operations | -0.5 | -0.01 | |
| Diluted earnings (loss) per share from continuing operations | -0.5 | -0.01 | |
| ii | Earnings per equity share for discontinued operations | ||
| Basic earnings (loss) per share from discontinued operations | 0 | 0 | |
| Diluted earnings (loss) per share from discontinued operations | 0 | 0 | |
| ii | Earnings per equity share | ||
| Basic earnings (loss) per share from continuing and discontinued operations | -0.5 | -0.01 | |
| Diluted earnings (loss) per share from continuing and discontinued operations | -0.5 | -0.01 | |
| 24 | Debt equity ratio | ||
| 25 | Debt service coverage ratio | ||
| 26 | Interest service coverage ratio | ||
| 27 | Disclosure of notes on financial results | Textual Information(1) | |
| Textual Information(1) | 1. In terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, these standalone financial results (financial results) for the quarter and nine months period ended 31 December 2025 have been reviewed and recommended for approval by the Audit Committee and accordingly have been approved by the Board of Directors of Ester Industries Limited (the Company) at their respective meetings held on 6 Februrary 2026. 2. The above financial results have been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34, Interim Financial Reporting (‘Ind AS 34’), prescribed under section 133 of the Companies Act, 2013 (‘the Act’) read with the Companies (Indian Accounting Standards) Rules, 2015 as amended from time to time, and other accounting principles generally accepted in India and in compliance with the presentation and disclosure requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended), including relevant circulars issued by the SEBI from time to time. 3. During the month of April 2025, the Company has received balance cash consideration (75%) amounting to Rs 41,99,99,789.10 with respect to 35,44,302 share warrants of face value of Rs 5/- per warrant at an issue price of Rs 158/- per warrant. The Board of Directors of the Company has, inter alia, considered and approved the allotment of 35,44,302 equity shares of face value of Rs. 5/- each pursuant to the conversion of 35,44,302 fully convertible warrants by way of preferential allotment on a private placement basis to the persons/entities belonging to the promoter and promoter group and non-promoter group by way of circular resolution passed on 30 April 2025. 4. Ind AS 108 Operating Segment is a component of the Company that engages in business activities whose operating results are regularly reviewed by the Company's Chief Operating Decision Maker (CODM) to make decisions about resources to be allocated to the segment and assess its performance and for which discrete financial information is available. Accordingly, the Company has identified its operating segments as below: a) Polyester chips and film b) Speciality polymers Pursuant to an operational realignment undertaken during the quarter ended 30 June 2025, a revised approach adopted by the Chief Operating Decision Maker (CODM) for performance evaluation and resource allocation, the recycled Polyester Chips (rPET) business has been reclassified from the Speciality Polymers segment to the Polyester Chips and Film segment. In accordance with the requirements of Ind AS 108 Operating Segments, the segment information for the quarter and nine months period ended 31 December 2024 and the year ended 31 March 2025 has been restated to reflect this change, ensuring consistency and comparability across reporting period. 5. Effective 21 November 2025, the Government of India has consolidated multiple existing labour legislations into a unified framework comprising four labour Codes collectively referred to as the 'New Labour Codes'. Under Ind AS 19, changes to employee benefit plans arising from legislative amendments constitute a plan amendment, requiring recognition of past service cost immediately in the statement of profit and loss. The New Labour Codes have resulted in one time increase in provision for employee benefit of the Company. The estimated incremental impact of the same amounting to Rs. 253.53 Lacs has been recognised in the Standalone Statement of profit and loss for the quarter and nine months period ended 31 December 2025. The Company continues to monitor the finalisation of Central/ State Rules and any clarifications from the Government on other aspects of the New Labour Codes and would provide appropriate accounting effect in the relevant period on the basis of such developments as needed. 6. Subsequent to the period ended 31 December 2025, the Nomination and Remuneration Committee of the Board of Directors of Ester Industries Limited approved the grant of 19,188 stock options under the ‘Ester Industries Limited Employees Stock Option Plan 2024’ (ESOP 2024) on 8 January 2026. Each stock option, upon exercise, will result in the issuance of one equity share of the Company at an exercise price of Rs. 79. |
|---|
| Debt equity ratio | |
|---|---|
| Debt service coverage ratio | |
| Interest service coverage ratio |
| Particulars | 3 months/ 6 month ended (dd-mm-yyyy) | Year to date figures for current period ended (dd-mm-yyyy) | |||||
|---|---|---|---|---|---|---|---|
| Date of start of reporting period | 01-10-2025 | 01-04-2025 | |||||
| Date of end of reporting period | 31-12-2025 | 31-12-2025 | |||||
| Whether results are audited or unaudited | Unaudited | Unaudited | |||||
| Nature of report standalone or consolidated | Standalone | Standalone | |||||
| 1 | Segment Revenue (Income) | ||||||
| (net sale/income from each segment should be disclosed) | |||||||
| 1 | Polyester chips and film | 19,664.53 | 62,783.69 | ||||
| 2 | Speciality polymers | 5,341.58 | 16,123.35 | ||||
| Total Segment Revenue | 25,006.11 | 78,907.04 | |||||
| Less: Inter segment revenue | 0.00 | 0.00 | |||||
| Revenue from operations | 25,006.11 | 78,907.04 | |||||
| 2 | Segment Result | ||||||
| Profit (+) / Loss (-) before tax and interest from each segment | |||||||
| 1 | Polyester chips and film | 488.56 | 1,980.32 | ||||
| 2 | Speciality polymers | 1,626.02 | 5,271.40 | ||||
| Total Profit before tax | 2,114.58 | 7,251.72 | |||||
| i. Finance cost | 861.11 | 2,619.41 | |||||
| ii. Other Unallocable Expenditure net off Unallocable income | 1,768.54 | 4,475.93 | |||||
| Profit before tax | (515.07) | 156.38 | |||||
| 3 | (Segment Asset - Segment Liabilities) | ||||||
| Segment Asset | |||||||
| 1 | Polyester chips and film | 47,424.72 | 47,424.72 | ||||
| 2 | Speciality polymers | 13,227.55 | 13,227.55 | ||||
| Total Segment Asset | 60,652.27 | 60,652.27 | |||||
| Un-allocable Assets | 80,485.35 | 80,485.35 | |||||
| Net Segment Asset | 1,41,137.62 | 1,41,137.62 | |||||
| 4 | Segment Liabilities | ||||||
| Segment Liabilities | |||||||
| 1 | Polyester chips and film | 6,445.02 | 6,445.02 | ||||
| 2 | Speciality polymers | 272.80 | 272.80 | ||||
| Total Segment Liabilities | 6,717.82 | 6,717.82 | |||||
| Un-allocable Liabilities | 39,958.94 | 39,958.94 | |||||
| Net Segment Liabilities | 46,676.76 | 46,676.76 | |||||
| Disclosure of notes on segments | |||||||
| Particulars | 3 months/ 6 months ended (dd-mm-yyyy) | Year to date figures for current period ended (dd-mm-yyyy) | |
|---|---|---|---|
| A | Date of start of reporting period | 01-10-2025 | 01-04-2025 |
| B | Date of end of reporting period | 31-12-2025 | 31-12-2025 |
| C | Whether results are audited or unaudited | Unaudited | Unaudited |
| D | Nature of report standalone or consolidated | Standalone | Standalone |
| Other comprehensive income [Abstract] | |||
| 1 | Amount of items that will not be reclassified to profit and loss | ||
| 1 | Re-measurement gain/ (loss) on defined benefit plans | 26.18 | 3.80 |
| Total Amount of items that will not be reclassified to profit and loss | 26.18 | 3.80 | |
| 2 | Income tax relating to items that will not be reclassified to profit or loss | 7.95 | 1.65 |
| 3 | Amount of items that will be reclassified to profit and loss | ||
| 1 | Effective portion of gain/ (loss) on hedging instruments in cash flow hedge | 33.84 | 10.73 |
| Total Amount of items that will be reclassified to profit and loss | 33.84 | 10.73 | |
| 4 | Income tax relating to items that will be reclassified to profit or loss | 11.18 | 4.67 |
| 5 | Total Other comprehensive income | 40.89 | 8.21 |
| Whether results are audited or unaudited | Unaudited |
|---|---|
| Declaration of unmodified opinion or statement on impact of audit qualification | Declaration of unmodified opinion |
| Auditor's opinion | |
| Declaration pursuant to Regulation 33 (3) (d) of SEBI (LODR) Regulation, 2015: The company declares that its Statutory Auditor/s have issued an Audit Report with unmodified opinion for the period on Standalone results | Yes |
| Sr No. | Audit firm's name | Whether the firm holds a valid peer review certificate issued by Peer Review Board of ICAI | Certificate valid upto | ||
| 1 | Walker Chandiok & Co. LLP | Yes | 31-05-2028 | ||
|---|---|---|---|---|---|
| Mode of Fund Raising | Preferential Issues |
|---|---|
| Description of mode of fund raising (Applicable in case of others is selected) | |
| Date of Raising Funds | 13-11-2024 |
| Amount Raised | 17,499.00 |
| Report filed for Quarter ended | 31-12-2025 |
| Monitoring Agency | Applicable |
| Monitoring Agency Name, if applicable | CRISIL Ratings Limited |
| Is there a Deviation / Variation in use of funds raised | No |
| If yes, whether the same is pursuant to change in terms of a contract or objects, which was approved by the shareholders | |
| If Yes, Date of shareholder Approval | |
| Explanation for the Deviation / Variation | Not Applicable |
| Comments of the Audit Committee after review | None |
| Comments of the auditors, if any | None |
| Sr. | Original Object | Modified Object, if any | Original Allocation | Modified allocation, if any | Funds Utilised | Amount of Deviation/Variation for the quarter according to applicable object | Remarks if any |
| 1 | Investment in Joint Venture Company namely Ester Loop Infinite Technologies Private Limited, in the form of equity and/or unsecured loan | Not Applicable | 15,999.00 | 0.00 | 2,530.00 | 0.00 | |
| 2 | General Corporate Purpose (not more than 25% of the overall fund raised) | Not Applicable | 1,500.00 | 0.00 | 0.00 | 0.00 |
| Name of signatory | Sourabh Agarwal |
| Designation of person | Chief Financial Officer |
| Place | Gurugram |
| Date | 06-02-2026 |