Ester Industries earnings calls.

Ester Industries delivered a strong Q1 FY27 with consolidated revenue of ₹441.9 croreCurrent reported value: ₹441.9 crore. No comparable prior figure is available in the source record. (+27.4Current 27.4 crore vs previous available quarter 7.2 crore.% YoY) and EBITDA of ₹58.9 croreCurrent ₹58.9 crore vs previous available quarter ₹43.3 crore. (+103.4% YoY), reflecting improved realizations, higher capacity utilization at 84%, and a favorable product mix shift. The BOPET film segment drove performance with revenue up ~38% YoY to ₹399.4 crore, supported by stable global prices and recovering US market share post tariff rejections. VAS (value-added specialty) products now constitute 29% of film volumes, up from 24% YoY, with management targeting 50-60% in 2-3 years. Specialty polymers faced temporary demand pressure but EBIT margins expanded to 45.3% from 31.7% on mix optimization. EST Film Tech turned PAT positive at ₹4.7 crore vs a loss of ₹16.5 crore last year. Management guided for sustainable earnings over the next 6-8 quarters and targets ₹2,000-2,200 crore revenue in 2-3 years. Key risks include specialty polymer margin normalization as VAP proportion increases and ongoing cyclicality in commodity BOPET films despite improved industry discipline.