Mar 20: Ester Industries Ltd (BSE:500136) has continued its uptrend on Tuesday trading having risen to a high of 72.45 and falling back to 70.40 with a gain of 2.03%. The company established 33 years ago is in the business of manufacturing polyester films, speciality polymers, engineering plasti compounds for packaging industry. Major customers are in automotive, electrical and electronics, appliances and telecom sectors.
In the nine month period ended December 2017 of FY18, the company’s total income rose 16% to Rs 591.3 cr while it reported loss of Rs 31 lakh. For the Q3FY18, the results were encouraging with net profit of Rs 48 lakh as against a net loss of Rs 3.51 cr the previous year. Net sales rose 14.3% to Rs 202.19 cr in Q3FY18.
Arvind Singhania, Chairman, Ester had recently expressed confidence in the business prospects of the company after going through challenging times. Film and engineering plastics business is shaping up and improved margins are visible. The company is also strengthening its R&D and executional capabilities.