Ester Industries Limited, India’s leading manufacturer of Polyester Films and Specialty Polymers, announced its financial results (consolidated) for the quarter and nine months ended 31st December 2024.

The company has posted net profit of Rs. 25 crore in Q3 FY25 as compared to net loss of Rs. 45 crore in Q3 FY24. Revenues in Q3 FY25 stood at Rs. 351 crore as compared to Rs. 272 crore in Q3 FY24, reflecting a growth of 29 per cent.

Commenting on the performance, Arvind Singhania, Chairman, Ester Industries said: “We are pleased to report that we have not only sustained the business momentum from previous quarter but have further accelerated it during Q3 as can be seen from the revenues and profitability growth. While both our businesses performed well, the films business in particular delivered a healthy performance. Specialty Polymer business as well registered healthy growth on a Y-o-Y basis.

“Specialty Polymer, on Y-o-Y basis, registered a healthy revenue growth of 55% during the quarter driven by steady traction for our marquee products MB03 and Innovative PBT. We expect this positive business trajectory to continue in the coming years, underpinned by a robust product pipeline and a strong competitive edge due to the absence of competition in the sector.

“As far as Film business is concerned, we have seen a sharp improvement in the margin profile and profitability of the business during the quarter. While the volumes continued to remain elevated, increased contribution from exports of high margin Value Added products aided the overall profitability of the business. Exports volumes registered a strong growth of 27% during the quarter. During the 9 months ending Dec 24, the proportion of Value-Added products increased from 18% (9MFY24) to 26%. Various initiatives to transform Ester from a commodity to specialty film player are being pursued diligently. We expect profitability improvement to sustain over the coming years on the back of better product mix i.e. share of high margin business and operating leverage.

“Furthermore, the introduction of the Plastic Waste Management Rules (PWMR), which will require a minimum of 10% recycled content in flexible packaging laminate expected to be effective from next year, is likely to further stimulate demand for Polyester Film as conversions from alternative substrates to polyester take place.

“I am pleased to report that the execution of our joint venture plans with Loop Industries is advancing according to the established timeline. We are diligently pursuing various activities related to the project's implementation.

“Looking ahead, our strong position in both Strategic Business Units (SBUs) gives us confidence in our ability to create value for our shareholders, particularly in light of the robust fundamentals of each business.”