Ester Industries Ltd

Ester Industries Ltd

₹ 98.5 -1.35%
23 Feb - close price
About

Ester is backed by 30 years of industry expertise in Industries Limited is into manufacturing Polyester Films, Polyster Chips, Specialty Polymers and Engineering Plastic compounds. The company is headquartered in the National Capital Region of India (Gurgaon). The company serves varying markets like food packaging, processed food, fresh food, food on the go, shelf stable, ready to eat, liquids, beverage packaging, beverage packaging, home and personal care, industrial packaging, constructions, automotive, optical fibre cable.
[1]

Key Points

Business segments
A) Speciality polymers (12% of FY22 revenue)
Ester has a portfolio of 25 products in this segment. It has launched two new products in this segment - Cationic Dyeable Master Batch (MB-16) and Deep Dyeable Master Batch (MB -07) which are having applications for the carpet Industry in the USA. Its existing product portfolio consists of Polyethylene Terephthalate (PET), Polybutylene Terephthalate(PBT), Polyethylene Naphthalate (PEN), and Master batches. [1]

  • Market Cap 821 Cr.
  • Current Price 98.5
  • High / Low 136 / 80.2
  • Stock P/E
  • Book Value 82.4
  • Dividend Yield 0.51 %
  • ROCE 4.29 %
  • ROE 20.1 %
  • Face Value 5.00

Pros

  • Stock is trading at 1.20 times its book value

Cons

  • Company has low interest coverage ratio.
  • Contingent liabilities of Rs.452 Cr.
  • Company might be capitalizing the interest cost
  • Earnings include an other income of Rs.22.5 Cr.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: Packaging Industry: Packaging

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
256 297 319 259 288 303 324 302 193 295 258 261 268
202 240 257 222 244 253 265 279 194 285 257 272 287
Operating Profit 54 57 62 37 44 50 59 23 -1 10 0 -10 -20
OPM % 21% 19% 19% 14% 15% 17% 18% 8% -1% 3% 0% -4% -7%
2 2 2 16 14 11 10 123 8 -1 9 10 5
Interest 5 6 5 5 6 9 7 8 8 14 17 18 18
Depreciation 9 9 9 9 10 10 10 10 10 14 16 17 17
Profit before tax 43 44 50 39 42 44 53 129 -12 -20 -24 -35 -50
Tax % 26% 27% 26% 17% 19% 25% 22% 4% 22% 10% 6% 13% 10%
32 32 37 32 35 33 42 124 -9 -18 -22 -30 -45
EPS in Rs 3.78 3.89 4.43 3.88 4.14 3.95 4.98 14.85 -1.11 -2.13 -2.65 -3.65 -5.37
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2021 Mar 2022 Mar 2023 TTM
318 372 395 671 698 884 928 895 768 992 1,110 1,114 1,081
280 301 334 448 663 842 853 823 698 760 939 1,022 1,101
Operating Profit 38 71 61 223 35 42 74 72 71 231 171 93 -20
OPM % 12% 19% 15% 33% 5% 5% 8% 8% 9% 23% 15% 8% -2%
2 0 1 1 6 5 5 3 5 8 60 137 22
Interest 13 10 6 13 35 26 35 37 36 19 25 36 66
Depreciation 14 13 14 18 27 29 30 32 32 35 37 44 65
Profit before tax 12 48 41 193 -21 -8 14 5 7 185 169 149 -128
Tax % 20% 30% 33% 33% 34% 32% 41% 21% 33% 26% 19% 8%
10 33 28 129 -14 -5 8 4 5 137 137 137 -115
EPS in Rs 4.43 20.58 -2.21 -0.84 1.33 0.61 0.55 16.49 16.39 16.42 -13.80
Dividend Payout % 28% 8% 23% 19% 0% 0% 38% 0% 0% 21% 20% 3%
Compounded Sales Growth
10 Years: 2%
5 Years: %
3 Years: %
TTM: -4%
Compounded Profit Growth
10 Years: 42%
5 Years: %
3 Years: %
TTM: -318%
Stock Price CAGR
10 Years: 25%
5 Years: 26%
3 Years: -1%
1 Year: 4%
Return on Equity
10 Years: %
5 Years: %
3 Years: %
Last Year: 20%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2021 Mar 2022 Mar 2023 Sep 2023
Equity Capital 28 28 31 31 31 31 31 31 42 42 42 42 42
Reserves 82 113 146 246 232 226 232 235 250 470 580 702 645
Preference Capital 3 0 0 0 0 0 0 0 0 5 1 0
98 53 54 224 304 335 363 376 316 203 638 816 775
41 44 69 122 60 60 72 72 80 147 169 155 165
Total Liabilities 249 238 301 623 627 652 698 714 688 862 1,428 1,715 1,627
140 140 136 363 350 376 390 399 385 377 390 979 992
CWIP 2 0 37 5 17 5 18 12 23 76 435 79 94
Investments 0 0 0 1 1 0 0 0 0 1 0 154 148
107 97 129 254 258 272 290 303 280 407 604 503 394
Total Assets 249 238 301 623 627 652 698 714 688 862 1,428 1,715 1,627

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2021 Mar 2022 Mar 2023
28 66 46 83 47 23 52 68 81 146 62 58
-11 -5 -54 -222 -36 -27 -57 -36 -20 -147 -392 -199
-16 -60 10 140 -9 4 -2 -18 -75 3 384 114
Net Cash Flow 1 1 2 1 3 -0 -7 14 -14 2 54 -28

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2021 Mar 2022 Mar 2023
Debtor Days 51 38 47 66 44 45 49 48 53 56 64 50
Inventory Days 59 50 59 86 77 69 69 74 96 98 110 88
Days Payable 51 27 46 67 14 11 11 11 17 27 34 17
Cash Conversion Cycle 59 60 60 85 107 103 106 111 132 126 139 121
Working Capital Days 63 59 55 69 85 77 78 78 86 91 119 105
ROCE % 12% 29% 23% 56% 3% 3% 8% 7% 7% 14% 4%

Shareholding Pattern

Numbers in percentages

4 Recently
Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
64.04% 64.04% 64.04% 64.04% 64.04% 64.04% 64.04% 64.04% 64.04% 64.04% 64.04% 64.04%
1.73% 1.19% 0.40% 0.28% 0.34% 0.39% 0.26% 0.25% 0.32% 0.16% 0.04% 0.03%
0.02% 0.03% 0.03% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01%
34.20% 34.74% 35.53% 35.66% 35.60% 35.55% 35.68% 35.69% 35.62% 35.78% 35.91% 35.92%
No. of Shareholders 31,30233,97736,41434,14739,47738,56536,67439,66140,80240,44541,56441,447

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

Click on the line-items to see the names of individual entities.

Documents

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