# Ester Industries share price today (Ester Industries Ltd, NSE: ESTER)

> Ester Industries share price today: ₹87.56 at the NSE close on 3 November 2026, down 21.4% in a year. Ester Industries (NSE: ESTER) is worth ₹913 crore, trades at a P/E of 241.4 and has closed between ₹77.60 and ₹111.12 over the past 52 weeks. > Ester Industries Ltd's share price has risen faster than its earnings: −21.4% in a year, against −292.5% for earnings per share. ESTER · Packaging - Films · data as of 3 November 2026. Page: https://www.sectoralpha.in/stocks/ester-industries-ltd

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## Key numbers

- Price: ₹87.56 (−21.4% in a year)
- P/E: 241.4× (higher than 97% of the last 9.9 years)
- Revenue (Jun 2026): ₹432 Cr (+27.8% on a year ago)
- Profit (Jun 2026): ₹19.0 Cr
- Operating margin: 11.0% (+5.0 points on a year ago)
- ROCE: 3%, FY26
- ROIC: −2.2%, against a 12.0% cost of capital: −14.2 points
- Profit that came in as cash: 81%, last 3 years

The main question: the share price moved −21.4% in a year while yearly earnings per share moved −292.5%. The difference came from the market paying a higher multiple. ## What is the Ester Industries share price today? Ester Industries Ltd's share price was ₹87.56 at the close on 3 November 2026. It has been falling for 84 weeks. That is 8.0% below its average price over the last 200 trading days. In the last 52 weeks it traded between ₹78 and ₹111, and at that close it sat 30% of the way up from that low. Over the past 13 weeks it has done better than the NIFTY 500, and it has stayed ahead for 6 weeks in a row. Over the last 11 years the share price moved +40% while the NIFTY 500 moved +251%, so it is behind the index over that whole period. The chart above shows the 13-week comparison for every week. This page treats a rise as over when the price closes below its 200-day average on two Fridays in a row. ## What changed at Ester Industries this quarter? Two changes stood out: highest quarterly revenue in 15 quarters and operating margin up 5 points on a year earlier. 1. Highest quarterly revenue in 15 quarters Revenue of ₹432 crore in the June 2026 quarter is the highest of the last 15 quarters. Why: Revenue hit a record because the film business sold more film. Next results: check whether the film recovery still comes from selling more higher-value products and running plants fuller. From the earnings call on 18 Aug 2026. 2. Operating margin up 5 points on a year earlier 11% in the June 2026 quarter, from 6%. Why: Margins rose because the film business got better prices and sold more higher-value products, and its plants ran closer to full. Next results: check whether the film margin stays steady as new BOPET lines start up over the next one and a half to two years. From the earnings call on 18 Aug 2026. ## What are Ester Industries' latest quarterly results? For April to June 2026 (the quarter ended 30 June 2026), Ester Industries reported revenue of ₹432 crore, up 27.8% from ₹338 crore a year earlier, and a profit of ₹19.0 crore, against a loss of ₹7.00 crore a year earlier. ### Ester Industries results: April to June 2026 against a year earlier

| Measure | April to June 2026 | April to June 2025 | Change |
| --- | --- | --- | --- |
| Revenue | ₹432 crore | ₹338 crore | +27.8% |
| Profit | ₹19.0 crore | loss of ₹7.00 crore | n/a |
| Earnings per share | ₹1.79 | ₹−0.73 | n/a |
| Operating margin | 11.0% | 6.0% | +5.0 points |

The next results, for July to September 2026, are due by 14 November 2026: listed companies must publish quarterly results within 45 days of the quarter's end (60 days for the January to March quarter). Ester Industries' management discussed these results on a call held on 18 August 2026; what it said is further down this page. (From the company's reported quarterly results (quarter ended 30 June 2026). Revenue and profit in ₹ crore.)

## What is the Ester Industries share price history? Ester Industries closed at ₹87.56 on 3 November 2026, down 21.4% from ₹111.35 a year earlier (31 October 2025) and down 37.5% over five years. Its highest weekly close since March 2016 was ₹181.10 on 7 October 2022. ### Ester Industries share price: then and now

| When | Close | Change to 3 Nov 2026 |
| --- | --- | --- |
| 1 week ago · 23 Oct 2026 | ₹85.65 | +2.2% |
| 1 month ago · 1 Oct 2026 | ₹95.55 | −8.4% |
| 6 months ago · 30 Apr 2026 | ₹90.18 | −2.9% |
| 1 year ago · 31 Oct 2025 | ₹111.35 | −21.4% |
| 3 years ago · 3 Nov 2023 | ₹91.50 | −4.3% |
| 5 years ago · 4 Nov 2021 | ₹140.10 | −37.5% |
| 10 years ago · 4 Nov 2016 | ₹46.70 | +87.5% |
| Earliest weekly close in our records · 11 Mar 2016 | ₹62.40 | +40.3% |
| Highest weekly close since March 2016 · 7 Oct 2022 | ₹181.10 | −51.7% |
| Lowest weekly close since March 2016 · 27 Mar 2020 | ₹24.80 | +253.1% |
| 52-week high (weekly close) · 21 Nov 2025 | ₹111.12 | −21.2% |
| 52-week low (weekly close) · 27 Mar 2026 | ₹77.60 | +12.8% |

Weekly closing prices. Each change is the move from that price to the 3 Nov 2026 close. A day's intraday high or low can go beyond these weekly closes. (562 weekly closes from 11 March 2016 to 3 November 2026.)

## What is the latest news on Ester Industries? 3 Nov 2026: Ester Industries closed at ₹87.56, up 2.2% on the week and down 8.4% on the month. 17 Sep 2026: ex-date for a dividend of ₹0.25 a share. ### Earlier

- 18 Aug 2026: Ester Industries held its results call for April to June 2026. Management guided: Consolidated revenue planned at ₹2,000-2,200 crore within 2-3 years, with film VAP share up to 35% by FY27 year-end and 50-60% over that period. - Results for April to June 2026: Revenue up 27.8% on a year earlier. ## What dividend does Ester Industries pay? Ester Industries paid ₹0.25 a share in regular dividends in the 12 months to 4 November 2026 (1 payment), a yield of 0.29% at the ₹87.56 close on 3 November 2026. The last was a dividend of ₹0.25 a share, ex-date 17 September 2026. ### Ester Industries dividends since 1 April 2021

| Ex-date | Dividend per share | Type | Record date |
| --- | --- | --- | --- |
| 17 Sep 2026 | ₹0.25 | Dividend | same day |
| 19 Sep 2025 | ₹0.60 | Dividend | same day |
| 20 Sep 2023 | ₹0.50 | Dividend | n/a |
| 20 Sep 2022 | ₹1.90 | Dividend | n/a |
| 22 Nov 2021 | ₹1.40 | Interim | 23 Nov 2021 |
| 17 Sep 2021 | ₹1.90 | Dividend | n/a |

Amounts as the company declared them on the NSE. A dividend goes to whoever owns the shares before the ex-date. 4 of 5 Of the last 5 financial years, years with an NSE dividend record

Not in its latest year. Ester Industries Ltd paid out 0% of its profit as dividends in FY26. It did pay a dividend in 6 of its last 13 reported years, so there is a history but no current dividend. (From the NSE corporate-actions record, read 4 November 2026.)

## What did Ester Industries management say on the latest results call? On the call for April to June 2026, held on 18 August 2026, Ester Industries' management guided: Consolidated revenue planned at ₹2,000-2,200 crore within 2-3 years, with film VAP share up to 35% by FY27 year-end and 50-60% over that period. > “As I told you, we are very positive that the global and domestic supply-demand balance is going to hold for the next 6-8 quarters. I think that is going to give us some respite and keep margins steady.”
> Vaibhav Jha, on the call for April to June 2026

### What management guided

- Specialty Polymer revenue planned at 20% yearly growth over 3-5 years; FY27 revenue at least flat to single-digit growth, with margin matching last year's level and potentially improving. - RPET production to exceed rated capacity by FY27 exit; external sales expected to become more visible in October-December after temporary internal demand pressure. - ELITe facility planned for operations in CY2028; global sports-brand LOI covers potential offtake up to 15,000 metric tonnes per year. - FY27 gross debt repayment around ₹100 crore, taking gross debt to ₹620 crore by year-end; standalone capital spending limited to sustenance and maintenance, excluding ELITe. Management’s own plans and goals, from our notes of the call. A plan is not a result. Source: [the call transcript](https://files.tijorifinance.com/insight/india/97/Conference Call/CC-Aug26.pdf). (From the call for April to June 2026, 18 August 2026.)

## What to watch in Ester Industries' next results? When Ester Industries reports July to September 2026, these are the 4 checks that show whether the story is still on course. First: Film VAP mix and capacity utilization - check whether the recovery remains mix-led in the next print. - What to check (from the call)
- Film VAP mix and capacity utilization - check whether the recovery remains mix-led in the next print. - Specialty Polymer pipeline maturation - check revenue recovery and percentage-margin behavior as mid-margin VAP scales. - External rPET volumes - check whether sales become more visible as captive film demand eases. - ELITe land and engineering progress - check permits, customer conversion and execution toward the planned start-up. ## Which stock lists is Ester Industries on? Ester Industries is on one of our India lists: Penny stocks. [Penny stocks Earnings growth, 12 months (%): -100](https://www.sectoralpha.in/penny-stocks-india)

## Is Ester Industries profitable? Ester Industries Ltd earned ₹19.0 Cr of net profit in the Jun 2026 quarter. The full FY26 year was a loss of ₹27.0 Cr. That is 4.4% of the quarter's revenue. The same quarter a year earlier lost ₹7.0 Cr. 7 of the last 12 reported quarters were loss-making. For the full year, FY26 profit was −₹27.0 Cr (−292.9% on the year before). On average over the last four quarters, profit changed −160.4% and revenue +10.1%. Profit is growing slower than sales: rising costs are taking part of the growth. ## How much revenue does Ester Industries make, and is it growing? Ester Industries Ltd reported ₹432 Cr of revenue in the Jun 2026 quarter, +27.8% on the same quarter a year earlier. That is the 2nd quarter in a row with growth on the year before. Over 14 years it has grown 5.0% a year on average. The last full year, FY26, came in at ₹1,375 Cr. The last four reported quarters add to ₹1,469 Cr. FY26 revenue was ₹1,375 Cr, +7.3% on the year before. Recent pace: the last four quarters grew +10.1% on average, against 5.0% a year over the longer run, so this year is growing faster than its own long-run rate. Is growth speeding up? Revenue over the last 12 months grew +10.1%, against +16.0% a year over the last 8 quarters (rolling over). ## How much of every ₹100 of sales does Ester Industries keep? Ester Industries Ltd's operating margin was 11.0% in the Jun 2026 quarter, 5.0 percentage points higher than the same quarter a year ago. Across 13 years it has been between −2.1% and 33.0%. The latest quarter is within that range. Why the margin moved: operating margin changed +5.4 percentage points on the year while gross margin changed −1.1 points. So the gain came mostly from costs below the gross margin, such as staff and overheads, measured against sales. ## Is Ester Industries' profit turning into cash? Over the last 3 years, 81% of Ester Industries Ltd's reported profit came in as cash from its operations, so the profit is backed by cash. In FY26 it brought in ₹89.0 Cr of operating cash against −₹27.0 Cr of profit. After ₹68.0 Cr of spending on assets, ₹21.0 Cr was left over as free cash. Cash-flow figures here are yearly, because quarterly cash statements are not published, so this section changes once a year. Why 81% of profit came in as cash: the cash cycle got 18 days shorter between FY21 and FY26, so cash that used to wait in the business now arrives sooner. What to look at next: no single use of cash stands out. The next section checks both the cash tied up in daily operations and the spending on assets. ## Where does Ester Industries' cash go? Ester Industries Ltd's cash cycle, the days between paying suppliers and getting paid by customers, was 108 days in FY26, down from 126 days in FY21. It spent ₹163 Cr on assets over the last 3 years. Customers take 49 days to pay, and stock sits for 86 days on average. At FY26 sales of ₹1,375 Cr, each day of that cycle ties up about ₹3.8 Cr, so roughly ₹407 Cr is tied up in the business at any time. FY26: customers took 49 days to pay and stock sat for 86 days, about 2.8 months of sales sitting as stock, for a full cycle of 108 days, shorter than FY21's 126. The full loop: cash goes out to suppliers and production on day 0. Stock sits for 86 days. Customers pay about 49 days after that. Suppliers are paid at 27 days. Together that makes the 108-day cycle. Spending on assets: ₹163 Cr over the last 3 years, against ₹207 Cr of depreciation (the yearly wear and tear on existing assets). So it is spending about what it takes to replace what wears out, or less. Work still in progress is ₹36.0 Cr (FY26): assets paid for that are not earning yet. In short: neither the daily cycle nor new spending is soaking up the cash, so the picture is fairly clean. ## What is Ester Industries' P/E ratio, and how does it compare with its own history? Ester Industries Ltd's P/E is 241.4×, near the high end of its own history: higher than 97% of past readings. Its usual P/E (the middle reading) is 67.6×, over 9.9 years of weekly prices. This compares the share price with the company’s own past. It does not say what the business is worth. Why the multiple is where it is: over the past year earnings per share moved −292.5% while the price moved −21.4%. The price did better than earnings, which pushed the multiple up within its own range. Where the price move came from: over 5 years the price moved −9.0% a year; about −6.6% a year came from earnings growth and about −2.4 percentage points from the multiple (the market paying less); over 10 years the price moved +6.5% a year; about −5.0% a year came from earnings growth and about +11.5 percentage points from the multiple (the market paying more). The split is approximate (price return minus earnings growth). It shows how much of the move came from the market paying a different multiple. In short: the multiple is high against its own past, so the earnings trend underneath matters more than the multiple. ## Is the Ester Industries business getting better or worse? Ester Industries Ltd's business trend cannot be read yet. There are fewer than eight usable quarters of growth figures, so there is not enough history to read the trend. This is based on 12 quarters of 2 measures, with some gaps. Why it matters: with too little history, we say so rather than guess a direction. There are fewer than eight usable quarters, so this page does not guess a direction from so little history. ## How much does Ester Industries earn on its capital? Ester Industries Ltd earned a ROCE of 3% in FY26. That is up from a low of −5% in FY24. Its return on capital used (ROIC) is 14.2 percentage points below its cost of capital, so growth here does not yet pay for the capital it uses. It comes from a −2.0% net margin and 0.82× asset turnover (sales divided by assets). Why the return is what it is (FY26): a −2.0% net margin × 0.82× asset turnover × 2.14× leverage (assets divided by equity) ≈ −3.5% on equity. The margin does its share; borrowing is a big part of it. The key test, return on capital used minus the cost of capital: −2.2% − 12.0% = −14.2 percentage points. The 12.0% is a standard assumption for the cost of capital in India, not an estimate for this company. Read the sign and size of the gap, not the decimals. Negative: growth at these returns loses value until returns improve. The −2.2% ROIC above is the latest reading, as reported. The yearly chart below shows FY26 at 4.1%, and the quarterly chart works out each 12-month window from the quarterly figures, so the readings differ by date, not by method. ## Does Ester Industries have too much debt? Ester Industries Ltd has total debt of ₹729 Cr against shareholder equity of ₹783 Cr as of Jun 2026, so its debt is 0.93× its equity. Year by year, that ratio went from 1.03 in FY22 to 0.93 in FY26. Keep that borrowing in mind when reading the returns on this page. ## What is the Ester Industries shareholding pattern? No group of Ester Industries Ltd's owners changed its stake by a full percentage point over the last two years. Foreign institutions moved +0.1 points over the same period, to 0.1%. This uses the four owner groups that companies report every quarter; nothing is guessed between filings. Over the last two years: Promoters: −0.1 points over 8 quarters, to 62.3%; Foreign institutions: +0.1 points over 8 quarters, to 0.1%; Domestic institutions: +0.1 points over 8 quarters, to 0.1%. ## How far is Ester Industries from balance-sheet trouble? For Ester Industries Ltd, the Z-score is not available, so we say so rather than guess one. It estimates how far the balance sheet is from trouble; it is not a forecast of failure. The debt, cash-flow and return sections show the balance-sheet figures we do have, each with its own date. ## How does Ester Industries rank in its industry? 36.8 out of 100, rank 2 of 3 in Packaging - Films, with 53% of the evidence available. Ester Industries Ltd scores 36.8 out of 100 against the 3 companies it is compared with in Packaging - Films, ranking 2. Some evidence is missing, so the score is pulled toward the middle on purpose. The four parts add up to the total exactly: 15.3 + 2.6 + 10 + 8.9 = 36.8. This is the same number shown on the industry page; it is worked out once for the whole group and read here. What would change it: The score would fall if profit growth turns negative or margins stop improving while the share price lags its sector. ## Which companies is Ester Industries compared with? Ester Industries ranks 2 of 3 Packaging - Films companies on the 4-Factor Sector Score, with 36.8 out of 100. 1. [Garware Hi Tech Films Ltd](https://www.sectoralpha.in/stocks/garware-hi-tech-films-ltd) GRWRHITECH · leader · Most evidence points up · 97% evidence 68.5 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 30.8/35 · Revenue 14.7% · Profit 36.1% · Operating margin change 3 points · 100% evidence Capital efficiency 18.6/25 · ROCE 18.1% · Operating margin 24% · 100% evidence Valuation 5.1/20 · P/E 38× · PEG 2.08 · 85% evidence Relative strength 14.0/20 · Lead over its industry 27.3% · Lead over NIFTY 500 41.6% · 1 year 104.4% · 100% evidence · 10 of 12 weeks ahead Exact sum: 30.8 + 18.6 + 5.1 + 14 = 68.5 · What this means: Earnings, capital efficiency and relative strength all agree. The open questions are about management, upcoming events and risks. 2. Ester Industries Ltd this page ESTER · breaking out · Too little evidence to rank firmly · 53% evidence 36.8 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 15.3/35 · Revenue 10.1% · Profit -80% · Operating margin change 5 points · 65% evidence Capital efficiency 2.6/25 · ROCE 2.8% · Operating margin 11% · 100% evidence Valuation 10.0/20 · P/E n/a · PEG n/a · 0% evidence Relative strength 8.9/20 · Lead over its industry n/a · Lead over NIFTY 500 -2.1% · 1 year -20.6% · 25% evidence · 5 of 12 weeks ahead Exact sum: 15.3 + 2.6 + 10 + 8.9 = 36.8 · What this means: Some evidence is missing, so the score is pulled toward the middle on purpose. 3. [XPRO India Ltd](https://www.sectoralpha.in/stocks/xpro-india-ltd) XPROINDIA · quiet · Most evidence points down · 78% evidence 30.0 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 18.8/35 · Revenue -1.2% · Profit 76.6% · Operating margin change 10.8 points · 65% evidence Capital efficiency 5.7/25 · ROCE 3.8% · Operating margin 9.1% · 100% evidence Valuation 5.0/20 · P/E 72.6× · PEG 4.64 · 50% evidence Relative strength 0.5/20 · Lead over its industry -15.9% · Lead over NIFTY 500 -3.9% · 1 year -8.9% · 100% evidence · 2 of 12 weeks ahead Exact sum: 18.8 + 5.7 + 5 + 0.5 = 30 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. Missing figures are not scored as bad. They lower the confidence and pull the final score toward the middle. Relative strength counts only when the company has a reading for this week; with no reading, that factor is left out and its 20 points are shared across the other three in proportion. PEG is not shown when the ratio cannot mean anything: the company must be making a profit, its price-to-earnings must be positive, and its three-year earnings growth must fall between 5% and 60%. Dividing a price multiple by a loss, or by growth measured off a tiny base, produces a number that looks precise and tells you nothing. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led NIFTY 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step path the industry is placed on (basing, turning, breaking out, leader, fading, asleep), read from how many weeks running it has led NIFTY 500 and whether that lead is growing or shrinking. It describes where the share price stands, not the direction of earnings, and it is not a recommendation; it is left blank for a company whose weekly history is too short or too stale to read. The figures in this ranking come from the industry comparison: results through the Sep 2026 quarter, and the P/E at that quarter's end. The sections above use the latest weekly price, so a P/E or return there can differ a little from the one here. The stage words in this ranking (such as losing its lead or breaking out) describe the lead over the index, not the price phase in the price section. Related companies: [Packaging - Films](https://www.sectoralpha.in/sectors/packaging-films), all 3 compared on one page. ## Which companies are close to Ester Industries in size? Ester Industries is the 3rd largest of 3 Packaging - Films companies on Sector Alpha by market value (scores of 30 October 2026). Just above it: Garware Hi Tech Films and XPRO India. It is the smallest. ### Packaging - Films companies close in size

1. [Garware Hi Tech Films Ltd](https://www.sectoralpha.in/stocks/garware-hi-tech-films-ltd) ₹16,203 crore
2. [XPRO India Ltd](https://www.sectoralpha.in/stocks/xpro-india-ltd) ₹2,370 crore
3. Ester Industries Ltd ₹922 crore

[All 3 Packaging - Films companies, largest first](https://www.sectoralpha.in/sectors/packaging-films#all-companies)

### Companies close in size in other industries

1. [Saint-Gobain Sekurit India Ltd](https://www.sectoralpha.in/stocks/saint-gobain-sekurit-india-ltd) ₹927 crore · Glass & Glass Products
2. [Control Print Ltd](https://www.sectoralpha.in/stocks/control-print-ltd) ₹926 crore · Computer - Hardware
3. Ester Industries Ltd ₹922 crore
4. [Sacheerome Ltd](https://www.sectoralpha.in/stocks/sacheerome-ltd) ₹922 crore · Chemicals - Organic
5. [Veljan Denison Ltd](https://www.sectoralpha.in/stocks/veljan-denison-ltd) ₹922 crore · Compressors

## What else do people ask about Ester Industries? ### What is Ester Industries's share price today? Ester Industries Ltd's share price is ₹87.56, −21.4% over the past year. The whole company is worth ₹913 Cr on the market. In the last 52 weeks it traded between ₹78 to ₹111; today it is 30% of the way up from the low, 8.0% below its 200-day average (as of 3 November 2026). ### What were Ester Industries's latest quarterly results? Ester Industries Ltd reported revenue of ₹432 Cr and net profit of ₹19.0 Cr for the Jun 2026 quarter. Earnings per share were ₹1.79. The operating margin was 11.0%, 5.0 percentage points higher than a year earlier (as of 3 November 2026). ### What is Ester Industries's market cap? Ester Industries Ltd's market capitalisation is ₹913 Cr at a share price of ₹87.56. Market cap is the share price times the number of shares, so it changes whenever the price moves (as of 3 November 2026). ### How is Ester Industries performing? Ester Industries Ltd's share price has been falling for 84 weeks. Over the past 13 weeks it has done better than the NIFTY 500, for 6 weeks running. This describes what the data did, not a rating (as of 3 November 2026). ### Will Ester Industries's share price go up? This page does not forecast Ester Industries Ltd's share price. What it shows instead: the share price is ₹87.56, and it has been falling for 84 weeks. Its P/E of 241.4× is higher than 97% of its own last 10 years (as of 3 November 2026). ### Who owns Ester Industries? Promoters own 62.3% of Ester Industries Ltd, foreign institutions 0.1%, domestic institutions 0.1% and the public 37.4% (latest quarter). No group of owners changed its stake by a full point over the last two years (as of 3 November 2026). ### Is Ester Industries's profit real cash? Yes, over the last 3 years, 81% of Ester Industries Ltd's reported profit came in as cash from operations. The latest year was lower at -330%, so the trend is worth watching. In FY26, operating cash was ₹89.0 Cr against reported profit of −₹27.0 Cr. Most of that cash then goes into a mix of the daily operating cycle and new capacity. These are yearly figures (as of 3 November 2026). ### Where is Ester Industries in its business cycle? Ester Industries Ltd's FY26 operating margin was 7.0%, against a 13-year range of −2.1% to 33.0%: the middle of its own range, neither a peak nor a low. The latest quarter was 11.0%. Comparing margins with a company's own long history is a good way to see where it is in its cycle (as of 3 November 2026). ### What could break the Ester Industries story? The main question: the share price moved −21.4% in a year while yearly earnings per share moved −292.5%. The difference came from the market paying a higher multiple. On price, this page treats a rise as over when the share price closes below its 200-day average on two Fridays in a row (as of 3 November 2026). ### Is Ester Industries a stock worth studying right now? What the numbers show: Ester Industries Ltd's share price has risen faster than its earnings: −21.4% in a year, against −292.5% for earnings per share. The main open question: whether earnings grow into a price that has already moved. Every number on this page is worked out by code from the published figures, with no forecasts and no price opinions (as of 3 November 2026). ### Is there a Ester Industries share price forecast for 2026? What management itself guided: Consolidated revenue planned at ₹2,000-2,200 crore within 2-3 years, with film VAP share up to 35% by FY27 year-end and 50-60% over that period. ## Lists

- Penny stocks: https://www.sectoralpha.in/penny-stocks-india

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