Review

ESTER INDUSTRIES LIMITED

Ticker : 500136
FV : Rs 5
52-Week H/L : Rs 159.10/51.85

We recommended Ester Industries Limited in vol. 37, no. 38, dated July 12, 2021. Backed by 30 years of industry expertise, Ester Industries manufactures polyester films, speciality polymers, and engineering plastic compounds. On the standalone quarterly front, the company recorded net sales and operating income of Rs 297.03 crore for Q4FY21, recording a rise of 17 per cent from its net sales & operating income of Rs 253.87 crore reported for Q4FY20. The operating profit improved by 12.84 per cent to reach Rs 60.36 crore in Q4FY21 from Rs 53.5 crore posted in Q4FY20. The net profit was reported at Rs 33.89 crore in Q4FY21 as compared to Rs 36.91 crore in Q4FY20, shrinking by 8.2 per cent. The company anticipates the well-positioning of all its businesses and developing e-commerce, pharmaceutical & consumer durables industries to drive the market growth for the company's products. Hence, we recommend HOLD.