Ester Industries Limited — Quarter ended 31 March 2026 (Standalone and Consolidated)
| S.No | Particulars | Quarter ended 31 March 2026 (Refer Note 8) | Quarter ended 31 December 2025 (Unaudited) | Quarter ended 31 March 2025 (Refer Note 8) | For the year ended 31 March 2026 (Audited) | For the year ended 31 March 2025 (Audited) |
|---|---|---|---|---|---|---|
| PART I | ||||||
| 1 | Income | |||||
| a) | Revenue from operations | 25,605.75 | 25,006.11 | 25,802.81 | 1,04,512.79 | 1,07,046.22 |
| b) | Other income | 120.89 | 395.86 | 334.48 | 1,443.90 | 1,447.15 |
| Total income (a+b) | 25,726.64 | 25,401.97 | 26,137.29 | 1,05,956.69 | 1,08,493.37 | |
| 2 | Expenses | |||||
| a) | Cost of materials consumed | 16,902.03 | 16,946.29 | 15,407.23 | 70,421.51 | 69,013.33 |
| b) | Changes in inventories of finished goods and work in progress | (837.97) | (7.00) | 743.57 | (1,099.69) | (270.06) |
| c) | Employee benefits expenses | 1,951.87 | 1,912.11 | 1,527.22 | 7,052.69 | 6,048.92 |
| d) | Finance costs | 889.58 | 861.11 | 866.62 | 3,508.99 | 3,567.86 |
| e) | Depreciation and amortisation expenses | 1,066.62 | 1,088.03 | 1,075.63 | 4,322.58 | 4,337.90 |
| f) | Other expenses | 5,154.56 | 5,116.50 | 4,842.99 | 20,994.28 | 20,331.32 |
| Total expenses (a+b+c+d+e+f) | 25,126.69 | 25,917.04 | 24,463.26 | 1,05,200.36 | 1,03,029.27 | |
| 3 | Profit/(Loss) before tax | 599.95 | (515.07) | 1,674.03 | 756.33 | 5,464.10 |
| 4 | Tax expense | |||||
| Current tax | ||||||
| – Current quarter/year | 212.27 | (72.41) | 336.65 | 327.90 | 442.26 | |
| – Prior Year | 3.18 | 94.62 | 97.80 | |||
| Deferred tax (credit) / charge | (59.04) | (48.56) | 104.36 | (106.57) | 968.55 | |
| 5 | Net profit/(loss) after tax (3-4) | 443.54 | (488.72) | 1,233.02 | 437.20 | 4,053.29 |
| 6 | Other comprehensive income | |||||
| a) Items that will not be reclassified to profit and loss | ||||||
| i) Re-measurement loss on defined benefit plans | (34.04) | 26.18 | (16.61) | (30.24) | (68.28) | |
| ii) Income tax effect on items that will not be reclassified to profit and loss | 10.50 | (7.95) | 4.41 | 8.85 | 17.63 | |
| b) Items that will be reclassified to profit and loss | ||||||
| i) Effective portion of (loss) / gain on hedging instruments in cash flow hedge | 82.25 | 33.84 | (28.82) | 92.98 | (423.64) | |
| ii) Income tax effect on items that will be reclassified to profit and loss | (22.54) | (11.18) | 8.35 | (27.21) | 109.38 | |
| Other comprehensive income/(loss) (a(i+ii)+b(i+ii)) | 36.17 | 40.89 | (32.67) | 44.38 | (364.91) | |
| 7 | Total comprehensive income/(loss) (5+6) | 479.71 | (447.83) | 1,200.35 | 481.58 | 3,688.38 |
| Paid-up equity share capital (face value of share ₹ 5 each) | 4,879.31 | 4,879.31 | 4,702.09 | 4,879.31 | 4,702.09 | |
| Other equity | 90,071.51 | 86,098.42 | ||||
| Earnings per equity share (face value of ₹ 5 each) | ||||||
| Basic EPS – in ₹ (not annualised except for year ended 31 March 26 and 31 March 25) | 0.45 | (0.50) | 1.31 | 0.45 | 4.31 | |
| Diluted EPS – in ₹ (not annualised except for year ended 31 March 26 and 31 March 25) | 0.45 | (0.50) | 1.31 | 0.45 | 4.31 |
| Sr. No | Particulars | As at 31 March 2026 (Audited) | As at 31 March 2025 (Audited) |
|---|---|---|---|
| A | ASSETS | ||
| 1 | Non-current assets | ||
| Property, plant and equipment | 38,719.32 | 40,575.21 | |
| Right of use asset | 55.33 | 56.09 | |
| Capital work-in-progress | 3,368.35 | 3,890.85 | |
| Intangible assets | 5.18 | 7.01 | |
| Financial assets | |||
| – Investments | 49,050.00 | 45,200.00 | |
| – Loans | 14.38 | 23.73 | |
| – Other financial assets | 880.28 | 870.77 | |
| Income tax assets (net) | 237.30 | 106.51 | |
| Other non-current assets | 940.61 | 1,007.66 | |
| Total non-current assets | 93,270.75 | 91,737.83 | |
| 2 | Current assets | ||
| Inventories | 15,907.48 | 12,930.76 | |
| Financial assets | |||
| – Investments | 5,457.14 | 5,801.28 | |
| – Trade receivables | 12,635.42 | 13,296.50 | |
| – Cash and cash equivalents | 115.14 | 2,254.37 | |
| – Bank balances other than cash and cash equivalents | 9,094.12 | 3,329.62 | |
| – Loans | 56.96 | 48.27 | |
| – Other financial assets | 122.74 | 179.83 | |
| Other current assets | 3,793.84 | 1,991.71 | |
| Total current assets | 47,182.84 | 39,832.34 | |
| Total | 1,40,453.59 | 1,31,570.17 | |
| B | EQUITY AND LIABILITIES | ||
| 1 | Equity | ||
| Equity share capital | 4,879.31 | 4,702.09 | |
| Other equity | 90,071.51 | 86,098.42 | |
| Total equity | 94,950.82 | 90,800.51 | |
| 2 | Liabilities | ||
| Non-current liabilities | |||
| Financial liabilities | |||
| – Borrowings | 13,847.62 | 14,410.81 | |
| – Lease liability | 1.25 | 1.25 | |
| Provisions | 1,139.99 | 972.92 | |
| Deferred tax liabilities (net) | 2,379.88 | 2,468.09 | |
| Other non-current liabilities | 1,225.62 | 1,422.50 | |
| Total non-current liabilities | 18,594.36 | 19,275.57 | |
| 3 | Current liabilities | ||
| Financial liabilities | |||
| – Borrowings | 19,553.92 | 15,619.79 | |
| – Trade payables | |||
| a) total outstanding dues of micro enterprises and small enterprises | 1,147.82 | 701.46 | |
| b) total outstanding dues of creditors other than micro enterprises and small enterprises | 3,559.72 | 2,669.22 | |
| Other financial liabilities | 1,330.35 | 1,393.05 | |
| Other current liabilities | 787.16 | 538.89 | |
| Provisions | 396.97 | 451.22 | |
| Current tax liabilities (net) | 132.47 | 120.46 | |
| Total current liabilities | 26,908.41 | 21,494.09 | |
| Total | 1,40,453.59 | 1,31,570.17 |
| Particulars | For the year ended 31 March 2026 (Audited) | For the year ended 31 March 2025 (Audited) |
|---|---|---|
| A Cash flows from operating activities | ||
| Profit before tax | 756.33 | 5,464.10 |
| Adjustments for: | ||
| Depreciation and amortisation expense | 4,322.58 | 4,337.90 |
| Employee stock option scheme expenses | 54.25 | 21.49 |
| Loss on sale of property, plant and equipment (net) | 23.30 | 42.22 |
| Finance costs | 2,957.50 | 3,155.73 |
| Interest income on financials assets measured at amortised cost | (734.21) | (600.11) |
| Unrealised foreign exchange gain (net) | 762.60 | 77.18 |
| Bad debts, advances and irrecoverable balances written off | 4.88 | 13.17 |
| Profit on sale of investments (net) | (38.56) | (130.30) |
| Cash flow hedge gain reclassified from OCI | 160.50 | 79.78 |
| Provisions / liabilities no longer required written back | (34.61) | (52.32) |
| Mark to market loss on derivative contracts | 1.36 | 129.90 |
| Income recognised on account of government assistance | (199.41) | (225.09) |
| Provision for doubtful debts | (5.04) | 27.00 |
| Gain on fair valuation of financial assets | (30.45) | (76.24) |
| Provision for obsolete inventories | 4.54 | 2.26 |
| Operating profit before working capital changes and other adjustments: | 8,005.56 | 12,266.67 |
| Working capital changes and other adjustments: | ||
| Decrease in current and non-current loans | 0.66 | 7.28 |
| Decrease in other non-current and current assets | (1,780.71) | 222.42 |
| Decrease / (increase) in inventories | (2,981.26) | (1,653.49) |
| Increase / (decrease) in other financial and non-financial liabilities | 302.21 | 253.85 |
| Increase / (decrease) in provisions | 82.58 | (18.96) |
| Decrease / (increase) in other non-current and current financial assets | 44.64 | (90.91) |
| Decrease / (increase) in trade receivables | 724.54 | (2,593.31) |
| Increase / (decrease) in trade payables | 1,427.43 | (152.33) |
| Cash flow from operating activities post working capital changes | 5,825.65 | 8,241.22 |
| Income tax paid (net of refunds) | (544.48) | (284.00) |
| Net cash flow from operating activities (A) | 5,281.17 | 7,957.22 |
| B Cash flows from investing activities | ||
| Acquisition of property plant and equipment (including capital work-in-progress and intangible assets) | (1,919.46) | (1,594.62) |
| Proceeds from sale of property plant and equipment | 25.55 | 126.71 |
| Investment from bank deposits (net) | (5,637.81) | (2,405.63) |
| Investment in Joint venture | (850.00) | (1,700.00) |
| Proceeds from pledged deposits (net) | (136.06) | (332.64) |
| Interest received | 606.20 | 537.16 |
| Investment in subsidiary | (3,000.00) | (6,200.00) |
| Investment in mutual funds and commercial papers | (1,740.64) | (7,323.61) |
| Proceeds from sales of investment in mutual funds and commercial papers | 2,167.41 | 8,604.24 |
| Net cash used in investing activities (B) | (10,484.81) | (10,288.39) |
| C Cash flows from financing activities | ||
| Proceeds from long-term borrowings | 3,569.13 | 11,274.62 |
| Repayment of long-term borrowings | (3,381.23) | (13,020.30) |
| Proceeds from issue of share capital | 177.21 | 92.27 |
| Proceeds from share warrants | 4,022.79 | 4,375.00 |
| Cash payment for interest portion of lease liabilities | (0.15) | (0.15) |
| Proceeds/(repayments) from short-term borrowings (net) | 2,308.86 | (4,994.43) |
| Finance cost paid | (3,046.69) | (3,137.58) |
| Dividend paid | (585.52) | – |
| Net cash flow/(used) in financing activities (C) | 3,064.40 | (5,410.57) |
| Particulars | ||
| D Net (decrease) in cash and cash equivalents (A+B+C) | (2,139.24) | (7,741.74) |
| E Cash and cash equivalents at the beginning of the year | 2,254.38 | 9,996.11 |
| F Cash and cash equivalents at the end of the year (D+E) | 115.14 | 2,254.37 |
| Particulars | 31 March 2026 | 31 March 2025 |
|---|---|---|
| Cash in hand | 1.47 | 2.93 |
| Balances with banks: | ||
| – In current accounts | 110.86 | 82.81 |
| – Bank deposits with original maturity up to 3 months | 2.81 | 2,168.63 |
| Total of cash and cash equivalents | 115.14 | 2,254.37 |
| Sr. No | Particular