Ester industries reports mixed Q2 and H1 FY26 with strong specialty polymer growth

Ester Industries Limited reported consolidated revenue of ₹357 crore for Q2 FY26, a 7% year-on-year increase, driven by higher volumes in both Polyester Film and Specialty Polymer segments. However, consolidated EBITDA decreased by 59% year-on-year to ₹17 crore, resulting in a net loss of ₹16 crore, attributed to softer margins in Polyester Films and the impact of US Trade Tariff.

The Specialty Polymer segment demonstrated strong performance, with revenue growing by 39% year-on-year to ₹57 crore and EBIT increasing by 45% year-on-year to ₹21 crore. This growth was supported by a 51% rise in sales volumes and sustained demand, with no significant impact from the US Trade Tariff due to IP protection.

The company's Polyester Films segment, including rPET, saw a 219% increase in rPET sales volume and a 9% rise in film volume. Despite a marginal revenue growth of 2%, this segment's margins shrunk due to imports and the US Trade Tariff. Ester Industries also continues to advance its ELITe recycling project, with off-take agreements already secured.