Ester Industries Posts ₹14 Cr Consolidated Profit in FY25, Marks Turnaround with 4735% EBITDA Growth

Specialty polymers and recycled PET drive recovery. BOPET Films gain momentum as sustainability mandates take effect

Ester Industries Ltd., India’s leading manufacturer of polyester films and specialty polymers, reported a consolidated net profit of ₹14 crore for FY25, marking a significant recovery from a loss of ₹121 crore in FY24. The company’s EBITDA surged to ₹164 crore, up from just ₹3 crore the previous year. This represents a year-on-year increase of over 4735 percent.
This turnaround was driven by growth in both primary business segments. Polyester film and specialty polymers each contributed to improved margins. Demand for recycled PET, alongside a strategic product mix shift, added further momentum. Total consolidated revenue for FY25 stood at ₹1,298 crore, up 19 percent from ₹1,090 crore in FY24.
Chairman Arvind Singhania credited the transformation to increased focus on high-value products and leaner operations. He cited stronger demand-supply alignment and expansion of the specialty polymers division as core drivers.

Polyester Films Respond to New Environmental Compliance
The film business returned to profitability in FY25 with a 15 percent rise in operational revenue. The improved performance was largely driven by better margins in value-added BOPET films. Following the April 2025 enforcement of India’s Plastic Waste Management Rules, which require 10 percent recycled content in flexible packaging, demand for recyclable polyester films is surging.
Ester confirmed that it holds the necessary certifications to supply BOPET films with varied levels of post-consumer recycled (PCR) content. The company anticipates further growth in this segment as brand owners adopt more environmentally compliant packaging solutions.
Specialty Polymers Showcase Strong Momentum
The specialty polymers business continued its upward trajectory. Revenue in this segment increased 72 percent year-on-year. EBIT rose 164 percent compared to FY24. Sales of Ester’s proprietary MB03 increased from 948 metric tonnes to 1,323 metric tonnes. Sales of innovative PBT products nearly doubled from 772 metric tonnes to 1,484 metric tonnes in FY25.
Recycled PET products also recorded significant gains. Although margins in this sub-segment are lower than in traditional specialty polymers, volume growth and higher realizations contributed positively to overall performance.

Strategic Circular Economy Push with Loop Industries
Ester reaffirmed that its joint venture with Canadian recycling leader Loop Industries Inc. is proceeding as planned. The 50:50 venture, named Ester Loop Infinite Technologies Pvt. Ltd., aims to develop India’s first infinite loop manufacturing facility for DMT and MEG production from PET waste using Loop’s patented depolymerization technology.
The facility supports India’s transition toward a circular plastics economy and complements Ester’s ongoing push to evolve from commodity film manufacturing to sustainable materials leadership.
Financial Performance Overview
The standalone EBITDA reached ₹134 crore in FY25, compared to ₹23 crore in FY24, while consolidated revenue rose 19 percent to ₹1,298 crore. The EBITDA margin improved sharply to 13 percent, up from just 0.3 percent a year ago. Net profit for the consolidated business reached ₹14 crore after a previous loss of ₹121 crore. The board has proposed a final dividend of ₹0.60 per equity share, pending shareholder approval at the upcoming AGM.

Building for Sustainability and Scale
Ester Industries holds over 18 granted patents and maintains three advanced manufacturing sites across India. The company exports to more than 50 countries across North America, Europe, Asia-Pacific, and the Middle East. It services diverse sectors including flexible packaging, textiles, consumer electronics, and technical applications.
With a 550-member workforce and ISO 9001, ISO 14001, ISO 45001, ISO 50001, and FSSC certifications, Ester aims to further expand its leadership in sustainable plastics innovation.

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