Ester Industries Ltd's subsidiary commences commercial production of new BOPET plant

Ester Industries Limited, India's leading manufacturer of Polyester Films and Specialty Polymers today announced that its wholly owned subsidiary Ester Filmtech Limited has commenced commercial production at new Polyester (BOPET) film manufacturing plant in the State of Telangana.

Spread over 50 acres, the 48,000 MTPA unit has been set up at an approximate cost of Rs. 650 crore (including margin money for working capital and GST accumulation). The plant is expected to generate revenues worth approximately Rs.600 crore upon achieving optimal utilization.

Commenting on the development, Mr. Arvind Singhania, Chairman, Ester Industries said "The commissioning of the new unit takes us one step closer in our journey towards transforming Ester into a leading local and global BOPET film manufacturer by offering best-in-class innovative and sustainable products. The new unit provides us the requisite scale and capabilities to help meet the growing BOPET market both in India and overseas offering a range of standard and value added products."

The products from this new unit will find applications mainly in flexible packaging industry and will help contributing towards strengthening the value chain of the flexible packaging industry. The Company also proposes to export 30-40% of its production, which will help to establish Telangana's footprint on global flexible packaging map.

Shares of Ester Industries Limited was last trading in BSE at Rs. 126.15 as compared to the previous close of Rs. 127.90. The total number of shares traded during the day was 11074 in over 599 trades.

The stock hit an intraday high of Rs. 129.50 and intraday low of 126.00. The net turnover during the day was Rs. 1405428.00.

Source : Equity Bulls

Keywords

EsterIndustries INE778B01029 BOPETFilm ManufacturingPlant Telangana EsterFilmtech