Containers & Packaging company Ester Industries announced Q1FY25 results: Revenues: Rs 292 crore, up 9.4% YoY and up 4.3% QoQ. EBITDA (including Non-operating income): Rs 17 crore, up 70.0% YoY and up 88.9% QoQ. EBITDA Margin: 5.9%, an increase of 230 basis points YoY and 290 basis points QoQ. PAT (Continuing Operations): Rs -16 crore, an improvement from Rs -22 crore YoY and Rs -24 crore QoQ. Commenting on the performance, Arvind Singhania, Chairman, Ester Industries said: “We have started the fiscal on a positive note. Specialty Polymer has had a strong quarter as can be seen by operating and financial performance indicators. Film business after undergoing challenging period of last two years, is finally witnessing some positivity as far as pricing & margin environment is concerned. As the demand-supply mismatch improves quarter after quarter, we are hopeful of margin & profitability improvement in times to come. Specialty Polymer performed well both on a Y-o-Y and Q-o-Q basis. Q1 performance was largely driven by good volume off-take of our marquee products MB03 and Innovative PBT. Higher share of value-added products resulted in improved margins and profitability. We expect the momentum to not only sustain but accelerate further throughout the year. As I have emphasized earlier, this business is protected by intellectual property, which safeguards our margins and preserves profitability. We continue to work towards building a healthy product pipeline and expect positive contributions from some of them over the coming years. As far as Film business is concerned, having gone through a rough period of last two years especially with regards to margins, I am pleased to report that we have started to witness some respite over the past few months. The pricing and margin environment has started to improve. As a result, going forward Film SBU is likely to return better performance despite lower volumes of sales. The proportion of Value Added & Specialty products stood at 30% during the quarter under review and with a targeted increase to 40% by FY26, profitability is expected to get further boost. Plastic Waste Management Rules (PWMR) mandating utilization of 10% recycled content in flexible packaging laminate, coming into force from 1 st April 2025 will further increase demand for Polyester Film with conversion taking place from other substrates to polyester. As regards our JV with Loop Industries Inc, I am happy to announce that it is progressing as per schedule. Various activities towards implementation of the project are being pursued in right earnest. Looking ahead, given our strong position in both SBUs, we are confident of creating value for our shareholders, as the fundamentals of both businesses remain solid. The joint venture with Loop is a transformative development that will pave the way for profitable growth for the company in the years to come.” Result PDF