Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 7 Oct - Newspaper Publication for Special Window for Transfer and Dematerialisation of Physical Securities.
Source: Bse
Ester Industries Limited (ESTER)
Small CapConsumer stocks · Small cap · NSE
Ester Industries Limited operates in Flexible Packaging, within the Consumer sector. Use the latest filing and company disclosures below to verify its revenue mix and current business drivers.
Data qualityFresh enough for analysisQuote updated 21 Oct, 05:57 pm ISTDetails
Quote21 Oct, 05:57 pm IST
Base fundamentals06 Oct 2026 · screener
Latest result16 Aug, 01:04 am IST
Score21 Oct, 04:30 am IST · v4.3-runtime-valuation
Tags02 May 2026
Coverage12/14 · 86%
Valuation2026-07-20 · Rf 6.8% · Consumer P/E 22.2 (n=441)
Technical timing lens
Trend score and candlestick chart
32Bearishfull bear SMA stack · MACD − · sector -4.6pp vs Nifty 500 (3M)
Stock trend: 33
Sector RS: 31
Sector 3M: -10.2% vs Nifty 500 -5.6%
Consumer FPI tailwindNot confirmed
Latest mapped FPI equity flow was not positive. View sector evidence
Technical chart
ESTERD candles · FIT view-2.3%Latest close ₹90.24 on 2026-10-21
Bar
-5.0%
RSI
47
MACD hist
-0.06
52W pos
42%
2026-10-21O ₹95.00H ₹95.35L ₹89.21C ₹90.24Vol 95,032 sh
Up bar
Down bar
EMA 20
EMA 50
Volume + 20D avg
Result date
RSI(14)
MACD / signal
Market context
Relative performance and chart statistics
Adjusted completed-session prices, rebased to 100
ESTERNifty Consumer DurablesNifty 500
- ESTER
- +1.5%
- Nifty 500
- -6.5%
- Nifty Consumer Durables
- -11.0%
- Vs Nifty 500
- +8.0 pp
Chart stats
21 Oct 2026- From 52W high
- -25.8%
- 52W range position
- 41%
- ATR (14)
- 4.7%
- Volume vs 20D
- 0.32x
- Avg traded value
- ₹2.9 Cr
- 20D price channel
- ₹83 - ₹104.8
₹121.7
₹68.6 - ₹121.7
₹4.3
Latest completed session
20-session average
75.2% annualized volatility
Research snapshot
What the evidence says now
Weak fundamentals, management evidence is still limited to a financial-only Trust Lite signal, price trend argues for patience, and recent execution is weak.
Suggested next step
Research, do not rush
The evidence is not strongly aligned. Compare peers and wait for a cleaner setup.
U-Score
Legacy · OVERVALUED20
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
Latest result
Good55
Revenue +27.8% · PAT NDF YoY
Technical
Bearish32
Price trend and sector-relative-strength timing.
Valuation
Legacy model—
Legacy margin-of-safety estimate; the revised evidence label remains in shadow validation.
Trust
Limited evidence60
Financial-only signal; management claim evidence is not sufficient yet.
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Latest result
Quarter ended 30 Jun 2026
Good · 55/100Rev +28% YoY · margin expansion · +26% QoQ
Filed 30 Jun 2026
Open results browser →| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹432 Cr | +27.8% | +25.6% |
| EBITDA | ₹49 Cr | +145.0% | +16.7% |
| Operating margin | 11.0% | +500 bps | -100 bps |
| PAT | ₹19 Cr | NDF | +137.5% |
| PAT margin | 4.4% | +647 bps | +207 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Fundamentals
Valuation
- P/E
- —
- P/B
- 1.16
- EV/EBITDA
- 8.82
- Market Cap
- 974.00Cr
Profitability
- ROE
- -3.56%
- ROCE
- 2.75%
- ROA
- -0.12%
- Dividend Y
- 0.27%
Growth (CAGR)
- Revenue 5Y
- 7.00%
- EPS 5Y
- -9.00%
- Revenue 3Y
- 7.00%
- EPS 3Y
- -1.00%
Balance Sheet
- Debt/Equity
- 0.93
- Interest Coverage
- 1.82×
- Altman Z
- 2.56
- Book Value
- 80.20
Cash Flow
- FCF Yield
- —
- FCF Positive Y
- 5/5
- OCF
- 89.00 Cr
- EPS TTM
- -0.29
Shareholding
- Promoter Hold
- 62.32%
- Promoter Pledge
- 0.00%
- Momentum 52W
- 39%
Financial History
Updated 21/10/2026
Revenue
₹ CrLatest: 432+25.6% vs prev
Net Profit
₹ CrLatest: 19.0+137.5% vs prev
ROE is shown only in the Annual view — quarterly equity data isn't published.
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Daily technical trend read
Bearish setupTrend is weak — long-term trend down. RSI 47.
- Price < SMA20 < SMA50 < SMA200 — full bearish stack.
- SMA20 roughly flat — short-term momentum stalled.
- RSI(14) at 47 — falling, no extreme reading.
- MACD below signal but histogram contracting — bearish momentum easing.
- 25% off 52W high · 32% above 52W low.
Mechanical read from the price + indicator series above. Not a recommendation — technical setups can reverse without warning, especially around earnings and macro events.
Nifty 500 leadership
Relative Strength & Trend Stage
51
RS percentile
Stage 1 Base / Transition
1M return
+3.5%
3M return
+1.5%
6M return
-1.6%
1Y return
-19.5%
RS 1D
-6
RS 20D
+16
Sector rank
#8
Industry rank
-
Stage evidence
- Price is within 1.0% of the 30-week proxy.
- The 30-week proxy changed -0.8% over 20 sessions.
- The moving-average structure does not confirm Stage 2 or Stage 4.
50-DMA
price below
200-DMA
price below
Sector
neutral
Industry
unranked
Relative-strength line vs Nifty 500 (base 100)
262 observations
21 Oct 2026Value 87.11-4.24%
RS vs Nifty 50087
Valuation & peers
U-Score 20 · legacy U-Score band OVERVALUED · valuation evidence and comparable companies
Valuation & peers
U-Score 20 · legacy U-Score band OVERVALUED · valuation evidence and comparable companies
OVERVALUED
Fundamental score breakdown
U band · OVERVALUEDValuation5/30
Growth3/25
Quality0/20
Balance Sheet5/15
Cash Flow4/10
Piotroski
5/9 (+3)
Penalties
0
Raw sum
20
Why this score?
Top U-Score contributors and drags from the latest stored fundamentals.
20/100 · legacy band OVERVALUED
Positive drivers
- Cash flow contributes 4/10 to the score.
- Balance sheet contributes 5/15 to the score.
- Valuation contributes 5/30 to the score.
Main drags
- Quality is weaker at 0/20; verify the latest quarterly trend.
- Growth is weaker at 3/25; verify the latest quarterly trend.
- Valuation is weaker at 5/30; verify the latest quarterly trend.
Sector valuation model
Consumer valuation: PE/PEG and brand-quality premium
Consumer franchises can deserve higher multiples, but only when growth quality supports them.
Primary lens
PE and PEG relative to growth, ROE, margins, and brand strength.
Secondary checks
Volume growth, pricing power, distribution, same-store or category growth.
Main risk check
Premium valuation needs durable growth and margin resilience.
PE
—
PB
1.2
EV/EBITDA
8.8
ROE
-3.6%
ROCE
2.8%
FCF Yield
—
Debt/Equity
0.9
MoS
—
Score movement
Stored run vs live recompute
This shows the stored score trend when snapshots exist, and also compares the latest stored nightly score with a live recompute from current fundamentals and price.
Stored run: 21 Oct 2026
v4.3-runtime-valuation
Final score
20
Previous: 20
Legacy U-Score band
OVERVALUED
Previous: OVERVALUED
Margin of safety
—
No stored baseline yet
Score history
12 stored score snapshots. Latest stored move: +0 points.
21 Oct 2026
v4.3-runtime-valuation
20
20
20
20
20
20
20
20
20
20
20
20
Factor attribution
No pillar movement versus the latest stored run. Historical score trend will appear after snapshot storage is enabled.
Modelled fair value
Graham Number
—
Growth-justified P/E
4.0
Growth-justified Value
—
— MoS
PEG
—
Comparable companies
Peers
Business-comparable peers in Consumer — ranked by industry, sub-sector, theme-tag overlap, market cap, and U-Score similarity. Green cells mark the best available peer metric in this table.
Ticker
Name
Why peer
Score
PE
ROE
MoS
Verdict
EMMBI
Small
Emmbi Industries Limited
Packaging
match 81
17
17.3
4.5%
-235%
OVERVALUED
HUHTAMAKI
Small
Huhtamaki India Limited
Packaging
match 68
27
20.3
13.0%
-248%
OVERVALUED
NAHARPOLY
Small
Nahar Poly Films Limited
Packaging
match 67
70
7.6
9.3%
+31%
UNDERVALUED
RPPL
Small
Rajshree Polypack Limited
Packaging
match 66
34
6.8
10.0%
-35%
WATCHLIST
COSMOFIRST
Small
COSMO FIRST LIMITED
Packaging
match 62
37
12.6
10.4%
-177%
WATCHLIST
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business and thesis
Issuer presentation review pending
Ester Industries Limited operates in Flexible Packaging, within the Consumer sector. Use the latest filing and company disclosures below to verify its revenue mix and current business drivers. The structured result feed currently covers the quarter ended 30 Jun 2026. Investor presentations and earnings-call PDFs will be added as issuer-backed evidence before management claims appear here.
Trust Score
60Limited evidence · low confidenceTrust Lite
Trust asks: does management behaviour match later outcomes? Higher is better, but confidence and evidence depth matter as much as the number.
Limited evidence: Claim history is still being built. It ranks around the 28th percentile of the scored universe and 30th percentile within Consumer. Main check: financial discipline is weak at 40/100.
This is a financial-behaviour screen, not a claim-tested management reliability verdict.
Computed 05 Sept 2026
management-trust-v1
114 docs text-extracted · 35 concalls text-extracted
Score band
Limited evidence
Financial behaviour is scored, but management claims do not yet have enough outcome checks.
Relative rank
28th percentile
overall median 67 · Consumer: 30th pctile, median 66 · Small: 32nd pctile, median 66
Evidence depth
Financial-only
114 documents have extracted text, but claim history is not strong enough yet.
Claim delivery
Outcome history still building
0 claims extracted · No contradicted claim yet
How to read this Trust Score
Limited evidence · low confidenceWhat it measures
Reliability of management and financial delivery, using financial behaviour only.
Confidence
Treat this as an early read until more concalls and outcomes are matched.
Investor use
Acceptable, but check the weakest sub-score before increasing exposure.
Read Trust alongside U-Score, result consistency, and technical trend. A cheap stock with weak Trust needs a larger margin of safety; a high Trust score does not make an expensive stock attractive by itself.
Forensic breakdown
Read low sub-scores as due-diligence warnings, not automatic sell signals.
Promoter
86
strong · holding, pledge, alignment
Cash flow
67
acceptable · profit to cash conversion
Balance sheet
51
watch · leverage and solvency
Discipline
40
weak · capital discipline
Results
53
watch · quarterly consistency
Trust positives
- ▸Promoter holding is 62.3%.
- ▸Promoter pledge is zero.
- ▸5 years of positive FCF.
- ▸3/4 latest quarters had positive YoY revenue growth.
Trust risks
- ▸2 latest quarters had PAT decline worse than 25% YoY.
- ▸Interest coverage is 1.8x.
- ▸ROCE is low at 2.8%.
- ▸ROE is low at -3.5%.
Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.
Continue researching Ester Industries Limited
Important announcements & filings
Latest exchange and company disclosures found within the past two years.
Open source ↗
Annual reportSep 2026
Sep 2026 · Weblink Of Notice Of 40Th Annual General Meeting Along With Annual Report For The Financial Year 2025-26 2 Sep - 40th AGM on 24 Sep 2026; final dividend ₹0.25/share, record date 17 Sep 2026.
Source: Bse
Credit rating
Announcement under Regulation 30 (LODR)-Credit Rating 25 Sep - CRISIL reaffirmed Ester Industries’ ratings at A-/Stable and A2+ for Rs523.9 crore facilities.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 3 Sep - Newspaper Publication on Notice of the 40th AGM and E-Voting Information
Source: Bse
Concall transcriptAug 2026
Aug 2026 · Transcript
Source: Bse
Investor presentationAug 2026
Aug 2026 · PPT
Source: Bse
AnnouncementAug 2026
Aug 2026 · Announcement Under Regulation 30 - Cancellation Of Proposed Inter-Se Transfer Of Shares Amongst Promoter And Promoter Group 20 Aug - Proposed transfer of 37,97,468 promoter shares (3.64%) cancelled on 20 Aug 2026.
Source: Bse
AnnouncementJun 2026
Jun 2026 · Announcement under Regulation 30 (LODR)-Monitoring Agency Report 13 Aug - Crisil monitoring report for quarter ended June 30, 2026 shows ₹165.25 crore warrant proceeds, no deviations.
Source: Bse
AnnouncementJun 2026
Jun 2026 · Announcement under Regulation 30 (LODR)-Newspaper Publication 13 Aug - Copy of Newspaper Advertisement with respect to Un-Audited Financial Results for the Quarter ended 30th June 2026.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 26 Jun - Schedule of Investor meet to discuss General Business Overview.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 2 Jun
Source: Bse
Concall transcriptMay 2026
May 2026 · Transcript
Source: Bse
All information is for study purposes only. For investment decisions, consult your financial advisor. See Playbook for methodology.