Ester Industries Ltd, one of India’s leading producers of Polyester Films, Specialty Polymers and Engineering Plastics is planning to scale up its BOPET capacities with the setting up of a new facility through a wholly owned subsidiary in the state of Telangana. The first phase of the project, with a capital outlay of Rs. 500 crore is scheduled to be completed by the third quarter of 2022.

The promoters of the company have also increased its holding in the company by 4.91% to 64.04%.

Fenton Investments Private Limited, Wilemina Finance Corp and Movi Limited, all promoter/promoter Group entities acquired 4,90,000 (0.59%) 14,40,000 (1.73%) and 21,60,000 (2.59%) shares respectively via an off-market transaction. Post this transaction, the promoter stake in the company has increased by 4.91% to 64.04% from 59.13%.

The company is well positioned to embark on its next growth phase on the back of improving business fundamentals of the Film and Specialty Polymer businesses.

Ester Industries is also focused on “de-commoditizing” its film business by nearly doubling the share of specialty, value added products to 30% over the next two years, from 16% at present.

In addition, the company’s margin accretive, R&D driven & patent protected Specialty Polymer business is also shaping up well and is on track to deliver consistent growth over the medium to long term.