Ester Industries Limited, India’s leading manufacturer of Polyester Films, Engineering Plastics and Specialty Polymers, Q2 FY 21 PAT was up 138.5% to reach Rs. 45.91 crore. 

 

Total revenue for Q2 FY21 was down by 1.6% to reach Rs. 250.52 crore vis-a-vis Rs. 254.41 crore in Q2 FY20. 

 

Commenting on the performance, Arvind Singhania, Chairman, Ester Industries said, “We are very pleased with our performance for the quarter which has seen sharp pick up in revenues and profitability over Q1. Film business continued its recent momentum on the back of strong demand from the end user industries. Covid-19 pandemic appears to have had a positive effect on the film business with a growing number of customers preferring more packaged products. Stronger demand resulted in improvement in sales volumes and capacity utilization. Further, we are also working towards improving our product mix and expect the commissioning of the off-line coater to improve the share of value added products over the coming quarters. The commissioning of our new line should provide a further leg up to the business." 

 

"As regard to Specialty Polymers SBU, while the current year is likely to be subdued primarily because of Covid -19 related restriction in customer markets, the business fundamentals remain structurally sound and we expect strong recovery from next year onwards. But for Covid -19, performance of Specialty Polymers SBU would have been much better than FY20. We are very encouraged with the introduction of 3 new products in recent weeks and expect these products to contribute substantially going forward," commented Singhania. 

 

"As far as the Engineering Plastics business is concerned, Covid -19 adversely impacted the performance during Q1FY21. However, the revival has been stronger & sooner than expected, demonstrated by substantial improvement in volume of sales and margin in Q2FY21. We are confident of a much better performance of Engineering Plastics SBU going forward," added Singhania. 

 

Ester Industries Limited is one of India’s leading producers of Polyester Films, Engineering Plastics and Specialty Polymers having a track record of continually developing new and innovative products for customers across the globe. Ester Industries has state of the art manufacturing facilities in khatima in Uttarakhand with the capacity of 67,000 TPA of Polyester Resin, 57,000 TPA of Polyester Film, 30,000 TPA of Specialty Polymers and 16,500 TPA of Engineering Plastics. 

 

The company currently exports about 30% of its production of Polyester Films with sales and distribution network in more than 56 countries across the world resulting in strong customer relationships. Specialty Polymers are manufactured primarily for the US and other overseas markets.