Ester Industries Ltd

About [ edit ]

Ester manufactures Polyester Films, Specialty Polymers and Engineering Plastic compounds. Polyester Films find applications primarily in flexible packaging while Specialty Polymers find applications into niche areas including rigid packaging, textiles etc. The Engineering Plastics business processes various materials for industries like Automotive, Electrical & Electronics, Appliances and Telecom.

  • Market Cap 1,010 Cr.
  • Current Price 121
  • High / Low 137 / 27.2
  • Stock P/E 6.96
  • Book Value 55.5
  • Dividend Yield 2.06 %
  • ROCE 29.2 %
  • ROE 27.5 %
  • Face Value 5.00

Pros

  • Company has reduced debt.
  • Company has delivered good profit growth of 88.26% CAGR over last 5 years

Cons

  • The company has delivered a poor sales growth of 3.03% over past five years.

Peer comparison

Sector: Packaging Industry: Packaging

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020
220 227 276 270 255 284 254 246 254 189 251 256
197 201 251 242 226 232 210 204 203 138 179 200
Operating Profit 23 26 26 28 29 52 44 43 51 50 71 55
OPM % 10% 11% 9% 10% 11% 18% 17% 17% 20% 27% 28% 22%
Other Income 1 1 2 1 2 2 2 2 3 2 2 2
Interest 8 9 9 9 8 7 7 5 5 4 4 5
Depreciation 8 8 8 8 8 9 9 9 9 9 9 9
Profit before tax 8 10 10 12 15 38 31 31 40 39 61 44
Tax % 30% 28% 28% 28% 47% 36% 37% 37% 7% 25% 24% 25%
Net Profit 6 7 7 8 8 24 19 19 37 29 46 33
EPS in Rs 0.67 0.89 0.87 1.00 0.97 2.87 2.31 2.33 4.43 3.52 5.51 3.95

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 TTM
372 394 671 698 884 928 895 768 703 807 1,028 1,039 949
301 333 448 663 842 853 823 696 660 740 919 848 721
Operating Profit 71 61 223 35 42 74 72 72 43 66 109 191 228
OPM % 19% 15% 33% 5% 5% 8% 8% 9% 6% 8% 11% 18% 24%
Other Income 0 1 1 6 5 5 2 3 6 5 5 7 9
Interest 10 6 13 35 26 35 37 36 33 33 34 24 18
Depreciation 13 14 18 27 29 30 32 32 32 31 32 35 35
Profit before tax 48 41 193 -21 -8 14 5 7 -16 7 47 139 184
Tax % 30% 33% 33% 34% 33% 41% 21% 33% 33% 29% 34% 28%
Net Profit 33 28 129 -14 -5 8 4 5 -11 5 31 100 145
EPS in Rs 4.43 20.59 -2.21 -0.84 1.34 0.61 0.55 -1.28 0.63 3.73 11.93 17.41
Dividend Payout % 8% 23% 19% 0% 0% 37% 0% 0% 0% 0% 13% 21%
Compounded Sales Growth
10 Years:10%
5 Years:3%
3 Years:14%
TTM:-9%
Compounded Profit Growth
10 Years:14%
5 Years:88%
3 Years:125%
TTM:105%
Stock Price CAGR
10 Years:11%
5 Years:14%
3 Years:18%
1 Year:327%
Return on Equity
10 Years:9%
5 Years:9%
3 Years:15%
Last Year:28%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Sep 2020
28 31 31 31 31 31 31 42 42 46 46 47 42
Reserves 113 147 247 233 227 233 236 252 235 242 273 366 421
Borrowings 53 54 223 304 335 363 376 316 310 303 243 151 99
44 69 123 59 60 72 72 80 94 117 108 132 158
Total Liabilities 238 302 624 627 653 699 715 689 681 704 665 691 719
140 136 363 350 376 390 399 385 416 399 387 364 352
CWIP 0 37 5 17 5 18 12 23 2 1 3 23 43
Investments 0 0 1 1 0 0 0 0 0 0 0 0 30
97 130 255 259 272 291 304 280 263 304 275 304 294
Total Assets 238 302 624 627 653 699 715 689 681 704 665 691 719

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
66 46 83 47 23 52 68 81 50 51 117 176
-5 -54 -222 -35 -27 -57 -36 -20 -11 -15 -23 -51
-60 10 140 -9 4 -2 -18 -75 -38 -36 -94 -124
Net Cash Flow 1 2 1 3 -0 -7 14 -14 -0 -0 -0 0

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
ROCE % 29% 22% 56% 3% 3% 8% 7% 7% 3% 7% 14% 29%
Debtor Days 38 47 66 44 45 49 48 53 60 67 44 43
Inventory Turnover 7.86 7.82 6.19 6.13 6.29 5.81 5.48 4.31 4.26 5.21 6.49 5.92

Shareholding Pattern

Numbers in percentages

Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021
59.14 59.14 59.14 59.14 59.14 59.14 59.14 59.14 59.14 61.45 64.04 64.04
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.11 1.33 1.73
0.06 0.11 0.08 0.09 0.07 0.03 0.03 0.03 0.03 0.02 0.03 0.02
40.80 40.75 40.78 40.77 40.79 40.83 40.83 40.83 40.83 38.41 34.60 34.20

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