Ester Industries Limited (ESTER) - Net Assets

Latest as of March 2026: Rs7.83 Billion INR ≈ $84.65 Million USD

Based on the latest financial reports, Ester Industries Limited (ESTER) has net assets worth Rs7.83 Billion INR (≈ $84.65 Million USD) as of March 2026. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (Rs16.74 Billion ≈ $181.02 Million USD) and total liabilities (Rs8.91 Billion ≈ $96.37 Million USD). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off. Check how tangible is Ester Industries Limited's equity to evaluate the tangible quality of the company's equity base.

Key Net Assets Metrics

Metric	Value
Current Net Assets	Rs7.83 Billion
% of Total Assets	46.76%
Annual Growth Rate	8.44%
5-Year Change	25.9%
10-Year Change	182.67%
Growth Volatility	16.34

Ester Industries Limited - Net Assets Trend (2005–2026)

This chart illustrates how Ester Industries Limited's net assets have evolved over time, based on quarterly financial data. See Ester Industries Limited (ESTER) defensive interval to measure how many days the company can operate on defensive assets alone.

Annual Net Assets for Ester Industries Limited (2005–2026)

The table below shows the annual net assets of Ester Industries Limited from 2005 to 2026. For live valuation and market cap data, see market cap of Ester Industries Limited.

Year	Net Assets	Change
2026-03-31	Rs7.83 Billion ≈ $84.65 Million	+1.32%
2025-03-31	Rs7.73 Billion ≈ $83.55 Million	+7.66%
2024-03-31	Rs7.18 Billion ≈ $77.60 Million	-3.48%
2023-03-31	Rs7.43 Billion ≈ $80.40 Million	+19.58%
2022-03-31	Rs6.22 Billion ≈ $67.24 Million	+21.42%
2021-03-31	Rs5.12 Billion ≈ $55.37 Million	+25.45%
2020-03-31	Rs4.08 Billion ≈ $44.14 Million	+29.81%
2019-03-31	Rs3.14 Billion ≈ $34.00 Million	+11.00%
2018-03-31	Rs2.83 Billion ≈ $30.63 Million	+2.29%
2017-03-31	Rs2.77 Billion ≈ $29.95 Million	-5.23%
2016-03-31	Rs2.92 Billion ≈ $31.60 Million	+7.44%
2015-03-31	Rs2.72 Billion ≈ $29.41 Million	+3.43%
2014-03-31	Rs2.63 Billion ≈ $28.44 Million	+2.02%
2013-03-31	Rs2.58 Billion ≈ $27.87 Million	-2.08%
2012-03-31	Rs2.63 Billion ≈ $28.47 Million	-5.11%
2011-03-31	Rs2.77 Billion ≈ $30.00 Million	+56.14%
2010-03-31	Rs1.78 Billion ≈ $19.21 Million	+26.64%
2009-03-31	Rs1.40 Billion ≈ $15.17 Million	+24.74%
2008-03-31	Rs1.12 Billion ≈ $12.16 Million	+3.45%
2007-03-31	Rs1.09 Billion ≈ $11.76 Million	-9.43%
2006-03-31	Rs1.20 Billion ≈ $12.98 Million	-15.86%
2005-03-31	Rs1.43 Billion ≈ $15.43 Million	--

Equity Component Analysis

This analysis shows how different components contribute to Ester Industries Limited's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.

Equity Composition Insights

Retained earnings have decreased by 0.0% over the analyzed period, potentially due to dividend distributions or operating losses.

Current Equity Component Breakdown (March 2026)

Component	Amount	Percentage
Common Stock	Rs487.93 Million	6.23%
Other Components	Rs7.34 Billion	93.77%
Total Equity	Rs7.83 Billion	100.00%

Ester Industries Limited Competitors by Market Cap

The table below lists competitors of Ester Industries Limited ranked by their market capitalization.

Company	Market Cap
Afyren SAS PA:ALAFY	$102.91 Million
Atenor SA BR:ATEB	$102.91 Million
Huddly AS OL:HDLY	$102.96 Million
ReFuels N.V. OL:REFL	$102.98 Million
Marfin Investment Group Holdings S.A AT:MIG	$102.83 Million
Roadzen Inc. NASDAQ:RDZN	$102.81 Million
Clover Corporation Ltd AU:CLV	$102.80 Million
Fortune Indonesia Tbk JK:FORU	$102.77 Million

Equity Growth Attribution

This analysis shows how different factors contributed to changes in Ester Industries Limited's equity between the two most recent reporting periods.

Equity Growth Insights

From 2025 to 2026, total equity changed from 7,725,197,000 to 7,827,300,000, a change of 102,103,000 (1.3%).
Net loss of 274,710,000 reduced equity.
Dividend payments of 58,552,000 reduced retained earnings.
New share issuances of 420,000,000 increased equity.
Other comprehensive income decreased equity by 956,143,000.
Other factors increased equity by 971,508,000.

Equity Change Factors (2025 to 2026)

Factor	Impact	Contribution
Net Income	Rs-274.71 Million	-3.51%
Dividends Paid	Rs58.55 Million	-0.75%
Share Issuances	Rs420.00 Million	+5.37%
Other Comprehensive Income	Rs-956.14 Million	-12.22%
Other Changes	Rs971.51 Million	+12.41%
Total Change	Rs-	1.32%

Book Value vs Market Value Analysis

This analysis compares Ester Industries Limited's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.

Valuation Insights

Current price-to-book ratio: 1.13x
The company is trading above its book value, indicating the market recognizes value beyond its reported assets.
The price-to-book ratio has decreased from 3.55x to 1.13x over the analyzed period, indicating reduced market premium.

Historical Price-to-Book Ratios

Date	Book Value per Share	Market Price	P/B Ratio
2005-03-31	Rs25.70	Rs91.18	x
2006-03-31	Rs21.63	Rs91.18	x
2007-03-31	Rs19.59	Rs91.18	x
2008-03-31	Rs20.26	Rs91.18	x
2009-03-31	Rs25.28	Rs91.18	x
2010-03-31	Rs30.90	Rs91.18	x
2011-03-31	Rs44.11	Rs91.18	x
2012-03-31	Rs41.85	Rs91.18	x
2013-03-31	Rs40.98	Rs91.18	x
2014-03-31	Rs41.97	Rs91.18	x
2015-03-31	Rs40.18	Rs91.18	x
2016-03-31	Rs36.37	Rs91.18	x
2017-03-31	Rs33.20	Rs91.18	x
2018-03-31	Rs33.97	Rs91.18	x
2019-03-31	Rs37.70	Rs91.18	x
2020-03-31	Rs48.94	Rs91.18	x
2021-03-31	Rs61.40	Rs91.18	x
2022-03-31	Rs74.55	Rs91.18	x
2023-03-31	Rs89.15	Rs91.18	x
2024-03-31	Rs85.89	Rs91.18	x
2025-03-31	Rs82.34	Rs91.18	x
2026-03-31	Rs80.35	Rs91.18	x

Capital Efficiency Dashboard

This dashboard shows how efficiently Ester Industries Limited utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.

Capital Efficiency Insights

Current Return on Equity (ROE): -3.51%
The company may be facing challenges in efficiently utilizing shareholder equity.
DuPont Analysis Breakdown:
• Net Profit Margin: -2.00%
• Asset Turnover: 0.82x
• Equity Multiplier: 2.14x
Recent ROE (-3.51%) is below the historical average (7.01%), suggesting potential challenges in capital efficiency.

Historical Capital Efficiency Metrics

Year	Return on Equity	Net Profit Margin	Asset Turnover	Equity Multiplier	Economic Value Added
2005	6.24%	3.37%	1.08x	1.71x	Rs-53.71 Million
2006	-14.01%	-6.83%	0.95x	2.15x	Rs-288.22 Million
2007	-12.87%	-4.96%	1.17x	2.21x	Rs-248.60 Million
2008	8.89%	3.13%	1.28x	2.21x	Rs-12.43 Million
2009	23.82%	8.97%	1.57x	1.69x	Rs193.92 Million
2010	15.68%	7.04%	1.31x	1.70x	Rs100.88 Million
2011	46.67%	19.59%	1.06x	2.25x	Rs1.02 Billion
2012	-5.29%	-1.99%	1.12x	2.38x	Rs-402.51 Million
2013	-2.05%	-0.60%	1.36x	2.53x	Rs-310.55 Million
2014	3.18%	0.90%	1.33x	2.66x	Rs-179.25 Million
2015	1.41%	0.43%	1.25x	2.63x	Rs-233.56 Million
2016	1.56%	0.59%	1.12x	2.36x	Rs-246.58 Million
2017	-3.86%	-1.53%	1.03x	2.46x	Rs-383.78 Million
2018	1.87%	0.66%	1.15x	2.49x	Rs-230.32 Million
2019	9.89%	3.04%	1.54x	2.12x	Rs-3.35 Million
2020	24.38%	9.61%	1.50x	1.69x	Rs586.85 Million
2021	26.85%	13.91%	1.15x	1.68x	Rs862.92 Million
2022	21.99%	12.34%	0.78x	2.30x	Rs745.43 Million
2023	18.41%	12.36%	0.65x	2.31x	Rs625.53 Million
2024	-16.87%	-11.45%	0.64x	2.29x	Rs-1.93 Billion
2025	1.77%	1.07%	0.82x	2.04x	Rs-635.54 Million
2026	-3.51%	-2.00%	0.82x	2.14x	Rs-1.06 Billion

Industry Comparison

This section compares Ester Industries Limited's net assets metrics with peer companies in the Specialty Chemicals industry.

Industry Context

Industry: Specialty Chemicals
Average net assets among peers: $9,748,369,885
Average return on equity (ROE) among peers: 17.72%

Peer Company Comparison

Company	Net Assets	Return on Equity	Debt-to-Equity	Market Cap
Ester Industries Limited (ESTER)	Rs7.83 Billion	6.24%	1.14x	$102.84 Million
Aarti Industries Limited (AARTIIND)	$45.17 Billion	26.25%	0.74x	$1.95 Billion
Aarti Surfactants Limited (AARTISURF)	$1.36 Billion	-4.77%	1.06x	$35.17 Million
ABM International Limited (ABMINTLLTD)	$229.25 Million	44.30%	0.34x	$4.15 Million
Advanced Enzyme Technologies Limited (ADVENZYMES)	$645.35 Million	25.83%	1.39x	$446.31 Million
Aether Industries Limited (AETHER)	$22.26 Billion	7.12%	0.19x	$1.69 Billion
Akzo Nobel India Limited (AKZOINDIA)	$5.67 Billion	18.70%	0.77x	$1.60 Billion
Alkali Metals Limited (ALKALI)	$507.28 Million	-3.87%	1.00x	$9.69 Million
Alkyl Amines Chemicals Limited (ALKYLAMINE)	$3.79 Billion	22.71%	1.01x	$989.12 Million
Ami Organics Limited (AMIORG)	$576.82 Million	32.06%	1.70x	$1.18 Billion
Anupam Rasayan India Limited (ANURAS)	$17.27 Billion	8.81%	0.67x	$1.55 Billion

About Ester Industries Limited

NSE:ESTER India Specialty Chemicals

Market Cap

$102.84 Million

Rs9.51 Billion INR

Market Cap Rank

#19172 Global

#1024 in India

Share Price

Rs91.18

Change (1 day)

+1.23%

52-Week Range

Rs70.67 - Rs130.44

All Time High

Rs181.19