Ester Industries Ltd: Share Price Analysis, Intrinsic Value & Fundamentals (2025)

Share Price and Basic Stock Data

Last Updated: March 13, 2025, 3:32 pm

Market Cap	1,099 Cr.
Current Price	117
High / Low	178/84.6
Stock P/E
Book Value	74.5
Dividend Yield	0.00 %
ROCE	4.98 %
ROE	18.1 %
Face Value	5.00
PEG Ratio	0.00

Stock P/E, Current Price, and Intrinsic Value Over Time

Stock P/E Current Price Intrinsic Value

View Share Price Target for Ester Industries Ltd

Competitors of Ester Industries Ltd

Stock Name ⇩	Market Cap ⇩	Current Price ⇩	High / Low ⇩	Stock P/E ⇩	Book Value ⇩	Dividend Yield ⇩	ROCE ⇩	ROE ⇩	Face Value ⇩
Hindustan Tin Works Ltd	149 Cr.	143	239/132	12.5	201	0.84 %	11.1 %	8.65 %	10.0
Gujarat Containers Ltd	94.4 Cr.	167	200/142	11.0	83.6	0.90 %	22.7 %	22.9 %	10.0
Goblin India Ltd	28.3 Cr.	20.5	60.0/20.0	7.32	31.8	0.00 %	8.18 %	6.90 %	10.0
G K P Printing & Packaging Ltd	12.4 Cr.	5.65	12.0/5.31		9.98	0.00 %	5.50 %	7.89 %	10.0
Garware Hi Tech Films Ltd	9,088 Cr.	3,913	5,378/1,513	29.2	960	0.26 %	14.0 %	10.4 %	10.0
Industry Average	2,374.74 Cr	338.07		78.78	172.70	0.34%	11.98%	34.11%	7.23

All Competitor Stocks of Ester Industries Ltd

Quarterly Result

Metric	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024
Sales	288	303	324	302	193	295	258	261	268	277	286	331	346
Expenses	244	253	265	279	194	285	257	272	287	271	275	291	286
Operating Profit	44	50	59	23	-1	10	0	-10	-20	6	11	40	60
OPM %	15%	17%	18%	8%	-1%	3%	0%	-4%	-7%	2%	4%	12%	17%
Other Income	14	11	10	123	8	-1	9	10	5	3	6	3	5
Interest	6	9	7	8	8	14	17	18	18	18	17	18	16
Depreciation	10	10	10	10	10	14	16	17	17	18	17	17	17
Profit before tax	42	44	53	129	-12	-20	-24	-35	-50	-27	-17	7	31
Tax %	19%	25%	22%	4%	-22%	-10%	-6%	-13%	-10%	-11%	-3%	55%	21%
Net Profit	35	33	42	124	-9	-18	-22	-30	-45	-24	-16	3	25
EPS in Rs	4.14	3.95	4.98	14.85	-1.11	-2.13	-2.65	-3.65	-5.37	-2.52	-1.71	0.32	2.64

Last Updated: March 3, 2025, 4:34 pm

Below is a detailed analysis of the quarterly data for Ester Industries Ltd based on the most recent figures (Dec 2024) and their trends compared to the previous period:

For Sales, as of Dec 2024, the value is ₹346.00 Cr.. The value appears strong and on an upward trend. It has increased from 331.00 Cr. (Sep 2024) to ₹346.00 Cr., marking an increase of ₹15.00 Cr..
For Expenses, as of Dec 2024, the value is ₹286.00 Cr.. The value appears to be improving (decreasing) as expected. It has decreased from 291.00 Cr. (Sep 2024) to ₹286.00 Cr., marking a decrease of 5.00 Cr..
For Operating Profit, as of Dec 2024, the value is ₹60.00 Cr.. The value appears strong and on an upward trend. It has increased from 40.00 Cr. (Sep 2024) to ₹60.00 Cr., marking an increase of ₹20.00 Cr..
For OPM %, as of Dec 2024, the value is 17.00%. The value appears strong and on an upward trend. It has increased from 12.00% (Sep 2024) to 17.00%, marking an increase of 5.00%.
For Other Income, as of Dec 2024, the value is ₹5.00 Cr.. The value appears strong and on an upward trend. It has increased from 3.00 Cr. (Sep 2024) to ₹5.00 Cr., marking an increase of ₹2.00 Cr..
For Interest, as of Dec 2024, the value is ₹16.00 Cr.. The value appears to be improving (decreasing) as expected. It has decreased from 18.00 Cr. (Sep 2024) to ₹16.00 Cr., marking a decrease of 2.00 Cr..
For Depreciation, as of Dec 2024, the value is ₹17.00 Cr.. The value remains steady. There is no change compared to the previous period (Sep 2024) which recorded 17.00 Cr..
For Profit before tax, as of Dec 2024, the value is ₹31.00 Cr.. The value appears strong and on an upward trend. It has increased from 7.00 Cr. (Sep 2024) to ₹31.00 Cr., marking an increase of ₹24.00 Cr..
For Tax %, as of Dec 2024, the value is 21.00%. The value appears to be improving (decreasing) as expected. It has decreased from 55.00% (Sep 2024) to 21.00%, marking a decrease of 34.00%.
For Net Profit, as of Dec 2024, the value is ₹25.00 Cr.. The value appears strong and on an upward trend. It has increased from 3.00 Cr. (Sep 2024) to ₹25.00 Cr., marking an increase of ₹22.00 Cr..
For EPS in Rs, as of Dec 2024, the value is 2.64. The value appears strong and on an upward trend. It has increased from ₹0.32 (Sep 2024) to 2.64, marking an increase of 2.32.

Overall, while many items appear to show a positive trend, any significant downward movement warrant further investigation.

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: March 6, 2025, 4:22 pm

Metric	Mar 2009	Mar 2010	Mar 2011	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2021	Mar 2022	Mar 2023	Mar 2024	TTM
Sales	372	395	671	698	884	928	895	768	992	1,110	1,114	1,063	1,240
Expenses	301	334	448	663	842	853	823	698	760	939	1,022	1,086	1,123
Operating Profit	71	61	223	35	42	74	72	71	231	171	93	-23	116
OPM %	19%	15%	33%	5%	5%	8%	8%	9%	23%	15%	8%	-2%	9%
Other Income	0	1	1	6	5	5	3	5	8	60	137	26	17
Interest	10	6	13	35	26	35	37	36	19	25	36	70	70
Depreciation	13	14	18	27	29	30	32	32	35	37	44	68	69
Profit before tax	48	41	193	-21	-8	14	5	7	185	169	149	-135	-5
Tax %	30%	33%	33%	-34%	-32%	41%	21%	33%	26%	19%	8%	-10%
Net Profit	33	28	129	-14	-5	8	4	5	137	137	137	-121	-12
EPS in Rs		4.43	20.58	-2.21	-0.84	1.33	0.61	0.55	16.49	16.39	16.42	-12.88	-1.27
Dividend Payout %	8%	23%	19%	0%	0%	38%	0%	0%	21%	20%	3%	0%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year	2009-2010	2010-2011	2011-2012	2012-2013	2013-2014	2014-2015	2015-2016	2021-2022	2022-2023	2023-2024
YoY Net Profit Growth (%)	-15.15%	360.71%	-110.85%	64.29%	260.00%	-50.00%	25.00%	0.00%	0.00%	-188.32%
Change in YoY Net Profit Growth (%)	0.00%	375.87%	-471.57%	175.14%	195.71%	-310.00%	75.00%	-25.00%	0.00%	-188.32%

Ester Industries Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 10 years from 2009-2010 to 2023-2024.

Growth

Compounded Sales Growth
10 Years:	1%
5 Years:	%
3 Years:	2%
TTM:	15%

Compounded Profit Growth
10 Years:	%
5 Years:	%
3 Years:	%
TTM:	90%

Stock Price CAGR
10 Years:	21%
5 Years:	27%
3 Years:	-3%
1 Year:	35%

Return on Equity
10 Years:	%
5 Years:	%
3 Years:	7%
Last Year:	-18%

Last Updated: Unknown

Balance Sheet

Last Updated: December 14, 2024, 3:40 pm

Month	Mar 2009	Mar 2010	Mar 2011	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Sep 2024
Equity Capital	28	31	31	31	31	31	31	42	42	42	42	47	47
Reserves	113	146	246	232	226	232	241	250	470	580	702	671	654
Borrowings	53	54	224	304	335	363	376	316	208	639	816	773	733
Other Liabilities	44	69	122	60	60	72	67	80	142	168	155	153	149
Total Liabilities	238	301	623	627	652	698	714	688	862	1,428	1,715	1,643	1,582
Fixed Assets	140	136	363	350	376	390	399	385	377	390	979	989	958
CWIP	0	37	5	17	5	18	12	23	76	435	79	83	85
Investments	0	0	1	1	0	0	0	0	1	0	154	69	49
Other Assets	97	129	254	258	272	290	303	280	407	604	503	502	491
Total Assets	238	301	623	627	652	698	714	688	862	1,428	1,715	1,643	1,582

Below is a detailed analysis of the balance sheet data for Ester Industries Ltd based on the most recent figures (Sep 2024) and their trends compared to the previous period:

For Equity Capital, as of Sep 2024, the value is ₹47.00 Cr.. The value remains steady. There is no change compared to the previous period (Mar 2024) which recorded ₹47.00 Cr..
For Reserves, as of Sep 2024, the value is ₹654.00 Cr.. The value appears to be declining and may need further review. It has decreased from ₹671.00 Cr. (Mar 2024) to ₹654.00 Cr., marking a decrease of 17.00 Cr..
For Borrowings, as of Sep 2024, the value is ₹733.00 Cr.. The value appears to be improving (decreasing). However, Borrowings exceed Reserves, which may signal higher financial risk. It has decreased from ₹773.00 Cr. (Mar 2024) to ₹733.00 Cr., marking a decrease of 40.00 Cr..
For Other Liabilities, as of Sep 2024, the value is ₹149.00 Cr.. The value appears to be improving (decreasing). It has decreased from ₹153.00 Cr. (Mar 2024) to ₹149.00 Cr., marking a decrease of 4.00 Cr..
For Total Liabilities, as of Sep 2024, the value is ₹1,582.00 Cr.. The value appears to be improving (decreasing). It has decreased from ₹1,643.00 Cr. (Mar 2024) to ₹1,582.00 Cr., marking a decrease of 61.00 Cr..
For Fixed Assets, as of Sep 2024, the value is ₹958.00 Cr.. The value appears to be declining and may need further review. It has decreased from ₹989.00 Cr. (Mar 2024) to ₹958.00 Cr., marking a decrease of 31.00 Cr..
For CWIP, as of Sep 2024, the value is ₹85.00 Cr.. The value appears strong and on an upward trend. It has increased from ₹83.00 Cr. (Mar 2024) to ₹85.00 Cr., marking an increase of 2.00 Cr..
For Investments, as of Sep 2024, the value is ₹49.00 Cr.. The value appears to be declining and may need further review. It has decreased from ₹69.00 Cr. (Mar 2024) to ₹49.00 Cr., marking a decrease of 20.00 Cr..
For Other Assets, as of Sep 2024, the value is ₹491.00 Cr.. The value appears to be declining and may need further review. It has decreased from ₹502.00 Cr. (Mar 2024) to ₹491.00 Cr., marking a decrease of 11.00 Cr..
For Total Assets, as of Sep 2024, the value is ₹1,582.00 Cr.. The value appears to be declining and may need further review. It has decreased from ₹1,643.00 Cr. (Mar 2024) to ₹1,582.00 Cr., marking a decrease of 61.00 Cr..

However, the Borrowings (733.00 Cr.) are higher than the Reserves (₹654.00 Cr.), which may signal higher financial risk.

Overall, while many items appear to show a positive trend, any significant downward movement or items where Borrowings exceed Reserves warrant further investigation.

Reserves and Borrowings Chart

Cash Flow

Month	Mar 2009	Mar 2010	Mar 2011	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Cash from Operating Activity +	66	46	83	47	23	52	68	81	146	62	58	44
Cash from Investing Activity +	-5	-54	-222	-36	-27	-57	-36	-20	-147	-392	-199	42
Cash from Financing Activity +	-60	10	140	-9	4	-2	-18	-75	3	384	114	-14
Net Cash Flow	1	2	1	3	-0	-7	14	-14	2	54	-28	72

Free Cash Flow

Month	Mar 2009	Mar 2010	Mar 2011	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Free Cash Flow	18.00	7.00	-1.00	-269.00	-293.00	-289.00	-304.00	-245.00	23.00	-468.00	-723.00	-796.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

Month	Mar 2009	Mar 2010	Mar 2011	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Debtor Days	38	47	66	44	45	49	48	53	56	64	50	51
Inventory Days	50	59	86	77	69	69	74	96	98	110	88	70
Days Payable	27	46	67	14	11	11	11	17	27	34	17	31
Cash Conversion Cycle	60	60	85	107	103	106	111	132	126	139	121	90
Working Capital Days	59	55	69	85	77	78	78	86	91	119	105	90
ROCE %	29%	23%	56%	3%	3%	8%	7%	7%		14%	4%	-5%

Financial Efficiency Indicators Chart

Share Holding Pattern

Month	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024
Promoters	64.04%	64.04%	64.04%	64.04%	64.04%	64.04%	64.04%	64.04%	62.45%	62.45%	62.40%	62.40%
FIIs	0.34%	0.39%	0.26%	0.25%	0.32%	0.16%	0.04%	0.03%	0.04%	0.03%	0.10%	0.04%
DIIs	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.44%	0.01%
Public	35.60%	35.55%	35.68%	35.69%	35.62%	35.78%	35.91%	35.92%	37.50%	37.49%	37.06%	37.55%
No. of Shareholders	39,477	38,565	36,674	39,661	40,802	40,445	41,564	41,447	41,428	37,803	38,291	38,640

Shareholding Pattern Chart

No. of Shareholders

This stock is not held by any mutual fund

ROCE Trend

EPS Trend

Key Financial Ratios

Month	Mar 24	Mar 23	Mar 22	Mar 21	Mar 16
FaceValue	5.00	5.00	5.00	5.00	5.00
Basic EPS (Rs.)	-14.49	16.42	16.39	16.49	0.57
Diluted EPS (Rs.)	-14.49	16.42	16.39	16.49	0.57
Cash EPS (Rs.)	-5.64	21.68	21.03	20.71	4.43
Book Value[Excl.RevalReserv]/Share (Rs.)	76.37	89.15	74.55	60.81	34.45
Book Value[Incl.RevalReserv]/Share (Rs.)	76.37	89.15	74.55	61.40	35.04
Revenue From Operations / Share (Rs.)	113.19	133.60	168.56	118.92	92.43
PBDIT / Share (Rs.)	0.36	12.49	29.95	28.68	9.02
PBIT / Share (Rs.)	-6.88	7.23	25.31	24.46	5.14
PBT / Share (Rs.)	-14.37	2.87	22.33	22.23	0.81
Net Profit / Share (Rs.)	-12.88	16.42	16.39	16.49	0.54
NP After MI And SOA / Share (Rs.)	-12.88	16.42	16.39	16.49	0.54
PBDIT Margin (%)	0.31	9.35	17.76	24.11	9.75
PBIT Margin (%)	-6.07	5.40	15.01	20.56	5.55
PBT Margin (%)	-12.69	2.14	13.24	18.69	0.88
Net Profit Margin (%)	-11.38	12.28	9.72	13.86	0.59
NP After MI And SOA Margin (%)	-11.38	12.28	9.72	13.86	0.59
Return on Networth / Equity (%)	-16.86	18.41	21.98	27.11	1.58
Return on Capital Employeed (%)	-5.32	4.44	18.24	30.15	10.11
Return On Assets (%)	-7.36	7.98	9.57	15.95	0.66
Long Term Debt / Equity (X)	0.61	0.72	0.76	0.19	0.33
Total Debt / Equity (X)	1.08	1.10	1.03	0.34	0.97
Asset Turnover Ratio (%)	0.63	0.70	1.43	0.00	1.10
Current Ratio (X)	1.27	1.69	1.95	1.91	1.03
Quick Ratio (X)	0.92	1.21	1.20	1.17	0.54
Inventory Turnover Ratio (X)	4.80	3.82	5.39	0.00	3.90
Dividend Payout Ratio (NP) (%)	-3.44	11.57	20.12	24.26	0.00
Dividend Payout Ratio (CP) (%)	-7.86	8.76	15.69	19.31	0.00
Earning Retention Ratio (%)	103.44	88.43	79.88	75.74	0.00
Cash Earning Retention Ratio (%)	107.86	91.24	84.31	80.69	0.00
Interest Coverage Ratio (X)	0.04	2.87	10.04	12.88	2.09
Interest Coverage Ratio (Post Tax) (X)	-0.72	1.32	6.50	8.40	1.13
Enterprise Value (Cr.)	1457.07	1488.41	1756.06	1119.01	706.40
EV / Net Operating Revenue (X)	1.37	1.34	1.25	1.13	0.91
EV / EBITDA (X)	430.02	14.29	7.03	4.68	9.39
MarketCap / Net Operating Revenue (X)	0.75	0.65	0.83	0.98	0.56
Retention Ratios (%)	103.44	88.42	79.87	75.73	0.00
Price / BV (X)	1.12	0.97	1.90	1.92	1.52
Price / Net Operating Revenue (X)	0.75	0.65	0.83	0.98	0.56
EarningsYield	-0.15	0.18	0.11	0.14	0.01

After reviewing the key financial ratios for Ester Industries Ltd, here is a detailed analysis based on the latest available data and recent trends:

For FaceValue, as of Mar 24, the value is 5.00. This value is within the healthy range. There is no change compared to the previous period (Mar 23) which recorded 5.00.
For Basic EPS (Rs.), as of Mar 24, the value is -14.49. This value is below the healthy minimum of 5. It has decreased from 16.42 (Mar 23) to -14.49, marking a decrease of 30.91.
For Diluted EPS (Rs.), as of Mar 24, the value is -14.49. This value is below the healthy minimum of 5. It has decreased from 16.42 (Mar 23) to -14.49, marking a decrease of 30.91.
For Cash EPS (Rs.), as of Mar 24, the value is -5.64. This value is below the healthy minimum of 3. It has decreased from 21.68 (Mar 23) to -5.64, marking a decrease of 27.32.
For Book Value[Excl.RevalReserv]/Share (Rs.), as of Mar 24, the value is 76.37. It has decreased from 89.15 (Mar 23) to 76.37, marking a decrease of 12.78.
For Book Value[Incl.RevalReserv]/Share (Rs.), as of Mar 24, the value is 76.37. It has decreased from 89.15 (Mar 23) to 76.37, marking a decrease of 12.78.
For Revenue From Operations / Share (Rs.), as of Mar 24, the value is 113.19. It has decreased from 133.60 (Mar 23) to 113.19, marking a decrease of 20.41.
For PBDIT / Share (Rs.), as of Mar 24, the value is 0.36. This value is below the healthy minimum of 2. It has decreased from 12.49 (Mar 23) to 0.36, marking a decrease of 12.13.
For PBIT / Share (Rs.), as of Mar 24, the value is -6.88. This value is below the healthy minimum of 0. It has decreased from 7.23 (Mar 23) to -6.88, marking a decrease of 14.11.
For PBT / Share (Rs.), as of Mar 24, the value is -14.37. This value is below the healthy minimum of 0. It has decreased from 2.87 (Mar 23) to -14.37, marking a decrease of 17.24.
For Net Profit / Share (Rs.), as of Mar 24, the value is -12.88. This value is below the healthy minimum of 2. It has decreased from 16.42 (Mar 23) to -12.88, marking a decrease of 29.30.
For NP After MI And SOA / Share (Rs.), as of Mar 24, the value is -12.88. This value is below the healthy minimum of 2. It has decreased from 16.42 (Mar 23) to -12.88, marking a decrease of 29.30.
For PBDIT Margin (%), as of Mar 24, the value is 0.31. This value is below the healthy minimum of 10. It has decreased from 9.35 (Mar 23) to 0.31, marking a decrease of 9.04.
For PBIT Margin (%), as of Mar 24, the value is -6.07. This value is below the healthy minimum of 10. It has decreased from 5.40 (Mar 23) to -6.07, marking a decrease of 11.47.
For PBT Margin (%), as of Mar 24, the value is -12.69. This value is below the healthy minimum of 10. It has decreased from 2.14 (Mar 23) to -12.69, marking a decrease of 14.83.
For Net Profit Margin (%), as of Mar 24, the value is -11.38. This value is below the healthy minimum of 5. It has decreased from 12.28 (Mar 23) to -11.38, marking a decrease of 23.66.
For NP After MI And SOA Margin (%), as of Mar 24, the value is -11.38. This value is below the healthy minimum of 8. It has decreased from 12.28 (Mar 23) to -11.38, marking a decrease of 23.66.
For Return on Networth / Equity (%), as of Mar 24, the value is -16.86. This value is below the healthy minimum of 15. It has decreased from 18.41 (Mar 23) to -16.86, marking a decrease of 35.27.
For Return on Capital Employeed (%), as of Mar 24, the value is -5.32. This value is below the healthy minimum of 10. It has decreased from 4.44 (Mar 23) to -5.32, marking a decrease of 9.76.
For Return On Assets (%), as of Mar 24, the value is -7.36. This value is below the healthy minimum of 5. It has decreased from 7.98 (Mar 23) to -7.36, marking a decrease of 15.34.
For Long Term Debt / Equity (X), as of Mar 24, the value is 0.61. This value is within the healthy range. It has decreased from 0.72 (Mar 23) to 0.61, marking a decrease of 0.11.
For Total Debt / Equity (X), as of Mar 24, the value is 1.08. This value exceeds the healthy maximum of 1. It has decreased from 1.10 (Mar 23) to 1.08, marking a decrease of 0.02.
For Asset Turnover Ratio (%), as of Mar 24, the value is 0.63. It has decreased from 0.70 (Mar 23) to 0.63, marking a decrease of 0.07.
For Current Ratio (X), as of Mar 24, the value is 1.27. This value is below the healthy minimum of 1.5. It has decreased from 1.69 (Mar 23) to 1.27, marking a decrease of 0.42.
For Quick Ratio (X), as of Mar 24, the value is 0.92. This value is below the healthy minimum of 1. It has decreased from 1.21 (Mar 23) to 0.92, marking a decrease of 0.29.
For Inventory Turnover Ratio (X), as of Mar 24, the value is 4.80. This value is within the healthy range. It has increased from 3.82 (Mar 23) to 4.80, marking an increase of 0.98.
For Dividend Payout Ratio (NP) (%), as of Mar 24, the value is -3.44. This value is below the healthy minimum of 20. It has decreased from 11.57 (Mar 23) to -3.44, marking a decrease of 15.01.
For Dividend Payout Ratio (CP) (%), as of Mar 24, the value is -7.86. This value is below the healthy minimum of 20. It has decreased from 8.76 (Mar 23) to -7.86, marking a decrease of 16.62.
For Earning Retention Ratio (%), as of Mar 24, the value is 103.44. This value exceeds the healthy maximum of 70. It has increased from 88.43 (Mar 23) to 103.44, marking an increase of 15.01.
For Cash Earning Retention Ratio (%), as of Mar 24, the value is 107.86. This value exceeds the healthy maximum of 70. It has increased from 91.24 (Mar 23) to 107.86, marking an increase of 16.62.
For Interest Coverage Ratio (X), as of Mar 24, the value is 0.04. This value is below the healthy minimum of 3. It has decreased from 2.87 (Mar 23) to 0.04, marking a decrease of 2.83.
For Interest Coverage Ratio (Post Tax) (X), as of Mar 24, the value is -0.72. This value is below the healthy minimum of 3. It has decreased from 1.32 (Mar 23) to -0.72, marking a decrease of 2.04.
For Enterprise Value (Cr.), as of Mar 24, the value is 1,457.07. It has decreased from 1,488.41 (Mar 23) to 1,457.07, marking a decrease of 31.34.
For EV / Net Operating Revenue (X), as of Mar 24, the value is 1.37. This value is within the healthy range. It has increased from 1.34 (Mar 23) to 1.37, marking an increase of 0.03.
For EV / EBITDA (X), as of Mar 24, the value is 430.02. This value exceeds the healthy maximum of 15. It has increased from 14.29 (Mar 23) to 430.02, marking an increase of 415.73.
For MarketCap / Net Operating Revenue (X), as of Mar 24, the value is 0.75. This value is below the healthy minimum of 1. It has increased from 0.65 (Mar 23) to 0.75, marking an increase of 0.10.
For Retention Ratios (%), as of Mar 24, the value is 103.44. This value exceeds the healthy maximum of 70. It has increased from 88.42 (Mar 23) to 103.44, marking an increase of 15.02.
For Price / BV (X), as of Mar 24, the value is 1.12. This value is within the healthy range. It has increased from 0.97 (Mar 23) to 1.12, marking an increase of 0.15.
For Price / Net Operating Revenue (X), as of Mar 24, the value is 0.75. This value is below the healthy minimum of 1. It has increased from 0.65 (Mar 23) to 0.75, marking an increase of 0.10.
For EarningsYield, as of Mar 24, the value is -0.15. This value is below the healthy minimum of 5. It has decreased from 0.18 (Mar 23) to -0.15, marking a decrease of 0.33.

Overall, while many metrics show healthy performance, any figures highlighted in red or significant downward trends warrant further investigation.

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Fair Value

Fair Value of Ester Industries Ltd as of March 13, 2025 is: ₹165.05

Calculation basis:

Fair value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100)
P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.

This formula allows us to gauge the fair value of the stock by analyzing its fundamental indicators.

As of March 13, 2025, Ester Industries Ltd is Undervalued by 41.07% compared to the current share price 117.00

Default values used*: Default value of 15 for Stock P/E is used

Intrinsic Value of Ester Industries Ltd as of March 13, 2025 is: 91.83

Calculation basis:

Intrinsic value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100) * (1 + EPS CAGR for Last 5 Years)
P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.
EPS CAGR (Compound Annual Growth Rate): Represents the geometric mean growth rate of earnings per share over the last 5 years. It provides insight into the historical growth trajectory of the company's earnings.

This formula allows us to gauge the intrinsic value of the stock by analyzing its fundamental indicators along with EPS growth.

As of March 13, 2025, Ester Industries Ltd is Overvalued by 21.51% compared to the current share price 117.00

Default values used*: Default value of 15 for Stock P/E is used

Last 5 Year EPS CAGR: -44.36%

*Investments are subject to market risks

Strength and Weakness

Strength	Weakness
The company has shown consistent growth in sales (508.23 cr) and profit (49.38 cr) over the years.	The stock has a low average ROCE of 12.42%, which may not be favorable. The stock has a high average Working Capital Days of 82.67, which may not be favorable. The stock has a high average Cash Conversion Cycle of 103.33, which may not be favorable. The company has higher borrowings (399.54) compared to reserves (366.38), which may suggest financial risk.

Stock Analysis

Considering all of the following key financial indicators, prospective investors are encouraged to conduct thorough research and seek professional guidance before considering any investment in Ester Industries Ltd:
1. Net Profit Margin: -11.38%
  - Net Profit Margin: This metric indicates the percentage of profit a company makes from its total revenue. A higher net profit margin is generally desirable as it reflects better profitability.
2. ROCE: -5.32% (Industry Average ROCE: 11.98%)
  - ROCE (Return on Capital Employed): ROCE measures a company's profitability and the efficiency with which its capital is employed. A higher ROCE indicates efficient use of capital.
3. ROE%: -16.86% (Industry Average ROE: 34.11%)
  - ROE (Return on Equity): ROE measures a company's profitability relative to shareholders' equity. A higher ROE indicates efficient use of shareholders' funds.
4. Interest Coverage Ratio (Post Tax): -0.72
  - Interest Coverage Ratio: The interest coverage ratio measures a company's ability to cover its interest payments on outstanding debt. A ratio greater than 2 is generally considered healthy as it indicates the company can meet its interest obligations comfortably.
5. Quick Ratio: 0.92
  - Quick Ratio: The quick ratio assesses a company's ability to cover its short-term liabilities with its most liquid assets. A ratio higher than 1 suggests the company can meet its short-term obligations without relying heavily on inventory.
6. Stock P/E: 0 (Industry average Stock P/E: 78.78)
  - Stock P/E (Price-to-Earnings) Ratio: The P/E ratio compares a company's current share price to its earnings per share. A lower P/E ratio relative to industry peers or historical values may indicate that the stock is undervalued.
7. Total Debt / Equity: 1.08
  - Total Debt / Equity: This ratio measures a company's financial leverage by comparing its total debt to its total equity. A lower ratio indicates lower financial risk and greater financial stability.
The current analysis is available for review. It's important to conduct thorough research and consider consulting with financial professionals before making any investment decisions.
Stock Rating:

About the Company - Qualitative Analysis

Ester Industries Ltd. is a Public Limited Listed company incorporated on 04/02/1985 and has its registered office in the State of Uttarakhand/Uttaranchal, India. Company's Corporate Identification Number(CIN) is L24111UR1985PLC015063 and registration number is 015063. Currently Company is involved in the business activities of Manufacture of semi-finished of plastic products (plastic plates, sheets, blocks, film, foil, strip etc.). Company's Total Operating Revenue is Rs. 855.39 Cr. and Equity Capital is Rs. 46.98 Cr. for the Year ended 31/03/2024.

INDUSTRY	ADDRESS	CONTACT
Packaging & Containers	Sohan Nagar, Udham Singh Nagar Uttarakhand/Uttaranchal 262308	investor@ester.in http://www.esterindustries.com

Management
Name	Position Held
Mr. Arvind Singhania	Chairman & CEO
Mr. Pradeeep Kumar Rustagi	Executive Director
Mr. Ayush Vardhan Singhania	Whole Time Director
Mrs. Archana Singhania	Non Executive Director
Mr. Sandeep Dinodia	Independent Director
Mrs. Padamaja Shailen Ruparel	Independent Director
Mr. Atul Agarwal	Independent Director
Mr. Alok Dhir	Independent Director

FAQ

What is the latest intrinsic value of Ester Industries Ltd?

The latest intrinsic value of Ester Industries Ltd as on 13 March 2025 is 165.05, which is 41.07% higher than the current market price of ₹117.00, indicating the stock is undervalued by 41.07%. The intrinsic value of Ester Industries Ltd is calculated using PE ratio method. The stock has a market capitalization of ₹1,099 Cr. and recorded a high/low of ₹178/84.6 during the current fiscal year 2024-2025. As of Sep 2024, the company has reserves of ₹654 Cr and total liabilities of ₹1,582 Cr.

What is the Market Cap of Ester Industries Ltd?

The Market Cap of Ester Industries Ltd is 1,099 Cr..

What is the current Stock Price of Ester Industries Ltd as on 13 March 2025?

The current stock price of Ester Industries Ltd as on 13 March 2025 is ₹117.

What is the High / Low of Ester Industries Ltd stocks in FY 2024-2025?

In FY 2024-2025, the High / Low of Ester Industries Ltd stocks is ₹178/84.6.

What is the Stock P/E of Ester Industries Ltd?

The Stock P/E of Ester Industries Ltd is .

What is the Book Value of Ester Industries Ltd?

The Book Value of Ester Industries Ltd is 74.5.

What is the Dividend Yield of Ester Industries Ltd?

The Dividend Yield of Ester Industries Ltd is 0.00 %.

What is the ROCE of Ester Industries Ltd?

The ROCE of Ester Industries Ltd is 4.98 %.

What is the ROE of Ester Industries Ltd?

The ROE of Ester Industries Ltd is 18.1 %.

What is the Face Value of Ester Industries Ltd?

The Face Value of Ester Industries Ltd is 5.00.