Ester Industries to set up advanced polyester film facility in Telangana

Ester Industries Limited’s wholly-owned subsidiary, Ester Filmtech Limited has announced its plan of setting up an advanced polyester film manufacturing facility at Chandanvelly, Shabad Mandal in Telangana.

The project will be carried out in three phases and its investment cost would be approximately Rs 1,350 crore. The implementation of the first phase is scheduled to be completed by the third quarter of the calendar year 2022 with a capital outlay of Rs 500 crore.

This project will have the potential to create direct employment for about 800 people. The end products of the proposed unit will have applications in the packaging material, which would strengthen the value chain of its flexible packaging industry.

The company proposes to export around 30-40 per cent of its production, which will help in establishing Telangana's footprint in the global flexible packaging market.

Ester Industries is one of India’s leading producers of polyester films, engineering plastics, and speciality polymers. It has state-of-the-art manufacturing facilities in Khatima (Uttarakhand) with a capacity of 67,000 TPA of polyester resin, 57,000 TPA of polyester film, 30,000 TPA of speciality polymers and 16,500 TPA of engineering plastics.

In FY20, the company’s overall profitability i.e. the net profit had surged 223 per cent, which was led by the improved performance seen in polyester film and speciality polymers on account of higher volume and better margins.

On Monday, the stock of Ester Industries got locked in an upper circuit of 5 per cent at Rs 68.40 from its previous close of Rs 65.15 on BSE.