Ester Industries Q1 FY27: Revenue up 27.4%, EBITDA surges 103.4% YoY
Ester Industries reported a strong Q1 FY27 with consolidated revenue up 27.4% to ₹441.9 crore. EBITDA surged 103.4% to ₹58.9 crore, with margins improving by 500 bps to 13.3%. PAT turned positive at ₹18.6 crore from a loss of ₹7.2 crore last year. The company secured a significant Letter of Intent for its ELITe project.
The substantial improvement in financial metrics, positive turnaround in PAT, and a significant new order for the ELITe project are expected to have a material positive impact on the company's valuation and investor sentiment.
The company reported significant year-on-year growth in revenue, EBITDA, and profit, along with margin expansion, indicating a strong financial performance.
Ester Industries Limited announced its unaudited financial results for the first quarter ended 30th June 2026, reporting a strong performance driven by an improving operating environment and higher realisations.
Consolidated total income increased by 27.4% year-on-year to ₹441.9 crore, while EBITDA more than doubled, rising 103.4% year-on-year to ₹58.9 crore. The EBITDA margin expanded significantly to 13.3% from 8.3% in Q1 FY26. Profit After Tax (PAT) turned positive at ₹18.6 crore, compared to a loss of ₹7.2 crore in the corresponding quarter last year.
The company attributed the improved performance to a favourable product mix, increased throughput, and better realisations. The reduction in surplus from China due to its "anti-involution" policy and the resolution of US tariff-related disruptions have contributed to a healthier operating environment for the BOPET Film industry. Additionally, the Plastic Waste Management Rules (PWMR) and the increasing requirement for post-consumer recycled (PCR) content are creating structural demand opportunities for rPET and recycled-content films.
Ester Industries is strategically strengthening its Film portfolio by increasing the contribution of Value-Added and Specialty products (VAS). VAS volumes stood at 6,368 MT, representing 29% of total Film sales, a significant growth of 23% year-on-year. rPET sales volume increased by 19% year-on-year to 1,394 MT.
The company's ELITe project has secured a Letter of Intent from a leading global sports and athletic brand for Loop™ PET Fiber Grade resin, with an offtake of up to 15,000 MT per annum from its upcoming Gujarat facility. This early customer validation provides strong visibility for the JV's recycled platform.
Standalone results for Q1 FY27 showed total income at ₹347.7 crore, a 22.0% increase year-on-year. EBITDA stood at ₹40.0 crore, up 25.2% year-on-year, with margins at 11.5%. PAT increased by 50.5% to ₹14.5 crore.
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