Ester Industries Ltd has announced its financial results for the year ended March 31, 2020. The company's net profit rose by 358.51% to Rs 36.91 crore in the quarter ended March 2020 as against Rs 8.05 crore for the corresponding quarter in the previous year. However the sales declined marginally by about 0.46% to Rs 253.87 crore in the quarter ended March 2020 as against Rs 255.05 crore in the corresponding previous year period. Since the company is also engaged in produclion of products like specialty polymers and engineering plastics, supply chain for which got impacted during the month of April 2020, however basis operations in the month of May 2020, the management expects improvement in the following months. 

 

For the full year, net profit rose 219.83% to Rs 99.50 crore in the year ended March 2020 as against Rs 31.11 crore in the corresponding previous year. The sales also rose by 1.03% to Rs 1038.70 crore in the year ended March 2020 as against Rs 1028.06 crore in the corresponding previous year.

 

The company's board has recommended final dividend of Rs. 2.50/- per equity share for the year ended on 31st March 2020, subject to the approval of the shareholders of the company in the forthcoming Annual General Meeting.