Ester Industries logo

Ester Industries MD, chairman, board of directors and AGM

NSE: ESTERBSE: 500136Industrial ProductsSmall Cap

Last close ₹85.39down ₹3.42 (3.85%)BSE ₹85.65

Share price at the NSE close on 23 Oct 2026. Previous close ₹88.81.

52-week range of traded prices to 23 Oct 2026
₹68.55Low, 30 Mar 2026₹120.00High, 19 Nov 2025
Market cap
₹891 Cr1,529th largest listed
P/E
Lossover the last 12 months
P/B
Shares changed
Dividend yield
0.29%
ROE
−0.2%
ROE without one-offs
0.0%
ROCE
3.5%
Debt to equity
0.93
Volume, NSE
60,42348.1% delivered

Ester Industries board of directors

At the end of the quarter to Sep 2026, as the company filed it; changes since are in its announcements.Their trades in its shares

  • ChairpersonArvind SinghaniaRelated to the promoter
  • Company Secretary and Compliance OfficerPoornima Gupta

6 directors3 independent2 executive1 non-executive

  • Arvind Singhania · ChairpersonNon-executive · joined Jul 1994 · 1 listed board · 1 committee seat
  • Ayush Vardhan SinghaniaExecutive · joined Jun 2021 · 1 listed board
  • Pradeep Kumar RustagiExecutive · joined Feb 2011 · 1 listed board · 1 committee seat
  • Abhay Anant GupteIndependent · joined May 2025 · reappointed May 2025 · 16 months as independent · 3 listed boards · 2 as independent · 3 committee seats
  • Padmaja Shailen RuparelIndependent · joined Apr 2020 · reappointed Apr 2025 · 78 months as independent · 2 listed boards · 2 as independent · 5 committee seats, 4 as chair
  • Atul AggarwalIndependent · joined Feb 2024 · reappointed Feb 2024 · 31 months as independent · 3 listed boards · 2 as independent · 3 committee seats

An independent director has no business or family tie to the company, its promoters or its managers beyond the seat. Listed boards counts the boards of listed companies the director sits on, this one included, and "as independent" how many of those seats are independent ones. Committee seats are audit and stakeholder committee seats across those companies. Months as independent is filed for independent directors only, whose terms the rules cap. Disqualified is the company's own mark that a director may not serve under company law.

3 directors who left
  • Alok Dhir, left 26 Aug 2025: Others
  • Archana Singhania, left 30 Apr 2025: Others
  • Sandeep Dinodia, left 31 Mar 2025: Tenure Completion

Committees and meetings

Who sits on each, and how often they met.Board meeting notices and outcomes

  • Board

    • 11 Aug 20266 of 6 present3 independent · 89 days in between
    • 13 May 20266 of 6 present3 independent

  • Audit Committee

    Chair Padmaja Shailen Ruparel

    Abhay Anant Gupte, Atul Aggarwal

    • 11 Aug 20263 of 3 present3 independent · 89 days in between
    • 13 May 20263 of 3 present3 independent

  • Nomination and remuneration committee

    Chair Padmaja Shailen Ruparel

    Atul Aggarwal, Arvind Singhania, Abhay Anant Gupte

    • 13 May 20264 of 4 present3 independent

  • Stakeholders Relationship Committee

    Chair Padmaja Shailen Ruparel

    Arvind Singhania, Pradeep Kumar Rustagi

    • 10 Aug 20262 of 3 present0 independent · 23 days in between
    • 17 Jul 20262 of 3 present0 independent · 45 days in between
    • 1 Jun 20262 of 3 present0 independent · 13 days in between
    • 18 May 20262 of 3 present1 independent · 6 days in between
    3 earlier meetings
    • 11 May 20262 of 3 present1 independent · 13 days in between
    • 27 Apr 20262 of 3 present0 independent · 23 days in between
    • 3 Apr 20262 of 3 present0 independent

  • Risk Management Committee

    Chair Abhay Anant Gupte

    Atul Aggarwal, Pradeep Kumar Rustagi, Vaibhav Jha, Ayush Vardhan Singhania

    • 11 Aug 20264 of 5 present0 independent · no day in between

  • Corporate Social Responsibility Committee

    Chair Arvind Singhania

    Atul Aggarwal, Ayush Vardhan Singhania

    • 11 Aug 20263 of 3 present1 independent · 89 days in between
    • 13 May 20263 of 3 present1 independent

Meetings in the quarter filed and the one before it. The days in between are as the company files them, neither meeting's day counted; the rules allow at most 120. A quorum is the least number of members who must attend for the meeting to decide anything.

Statutory auditor

Named in the results for the quarter to Jun 2026.

  • Walker Chandiok & Co. LLPPeer-review certificate valid to May 2028

A statutory auditor checks the company's accounts and signs its results. Peer review is the accountants' institute's check of an audit firm's own work, which a listed company's auditor must hold a valid certificate of.

Ester Industries AGM and shareholder votes

Each resolution, how the votes went, and how institutions voted apart from the promoters. A postal ballot is a vote by post or online, held without a meeting.Ester Industries dividend history

Annual general meeting, 24 Sep 2026

37,682 shareholders on the register on 17 Sep 2026; present: 6 promoters and 45 others; votes counted by Akash Jain / Akash Jain.The company's voting result (opens in a new tab)

  1. To receive, consider and adopt the Standalone and Consolidated Audited Financial Statements of the Company for the financial year ended 31st March 2026 together with the Reports of the Board of Directors and Auditors thereon.MoreLess
    Ordinary
    99.99% for0.01% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.12%

    Turnout: all 67.67% · promoters 95.98% · institutions 12.15% · other public 20.94%

  2. To declare the final dividend of Rs.0.25/- per Equity Share of Rs.5/- each for the financial year ended 31st March 2026
    Ordinary
    99.99% for0.01% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.12%

    Turnout: all 67.67% · promoters 95.98% · institutions 12.15% · other public 20.94%

  3. To appoint a director in place of Mr. Ayush Vardhan Singhania (DIN: 05176205), Whole Time Director of the Company who retires by rotation and being eligible, offers his candidature for re-appointment
    OrdinaryPromoters have an interest in it
    99.99% for0.02% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.12%

    Turnout: all 63.01% · promoters 88.51% · institutions 12.15% · other public 20.94%

  4. Ratification of Remuneration to Cost Auditors for the financial year ending 31st March 2027
    Ordinary
    99.99% for0.01% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.12%

    Turnout: all 67.67% · promoters 95.98% · institutions 12.15% · other public 20.94%

For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.

Postal ballot, 23 May 2026, 2 resolutions

37,555 shareholders on the register on 17 Apr 2026; votes counted by Akash Jain / Akash Jain.The company's voting result (opens in a new tab)

  1. TO CONSIDER AND APPROVE THE RE-DESIGNATION OF MR. ARVIND SINGHANIA (DIN: 00934017) FROM MANAGING DIRECTOR (DESIGNATED AS CHAIRMAN AND CHIEF EXECUTIVE OFFICER) TO NON-EXECUTIVE, NON-INDEPENDENT CHAIRMAN OF THE COMPANYMoreLess
    OrdinaryPromoters have an interest in it
    99.83% for0.17% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.17%

    Turnout: all 8.42% · promoters 0.00% · institutions 17.00% · other public 22.63%

  2. TO APPROVE REVISION IN REMUNERATION OF MR. AYUSH VARDHAN SINGHANIA (DIN: 05176205), WHOLE-TIME DIRECTOR OF THE COMPANY
    SpecialPromoters have an interest in it
    99.30% for0.70% against

    Against: promoters 0.00% · institutions 98.10% · other public 0.29%

    Turnout: all 8.42% · promoters 0.00% · institutions 17.00% · other public 22.62%

For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.

Postal ballot, 21 Mar 2026, 5 resolutions

37,775 shareholders on the register on 13 Feb 2026; votes counted by Akash Jain / Akash Jain.The company's voting result (opens in a new tab)

  1. RE-APPOINTMENT OF MR. ARVIND SINGHANIA (DIN: 00934017) AS MANAGING DIRECTOR OF THE COMPANY
    SpecialPromoters have an interest in it
    99.44% for0.56% against

    Against: promoters 0.00% · institutions 100.00% · other public 0.14%

    Turnout: all 8.41% · promoters 0.00% · institutions 19.03% · other public 22.57%

  2. RE-APPOINTMENT OF MR. PRADEEP KUMAR RUSTAGI (DIN: 00879345) AS WHOLE-TIME DIRECTOR OF THE COMPANY
    Special
    99.98% for0.02% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.14%

    Turnout: all 67.93% · promoters 94.90% · institutions 19.03% · other public 22.57%

  3. TO CONSIDER AND APPROVE MATERIAL RELATED PARTY TRANSACTIONS BETWEEN THE COMPANY AND ESTER LOOP INFINITE TECHNOLOGIES PRIVATE LIMITED
    OrdinaryPromoters have an interest in it
    99.46% for0.54% against

    Against: promoters 0.00% · institutions 100.00% · other public 0.13%

    Turnout: all 8.41% · promoters 0.00% · institutions 19.03% · other public 22.57%

  4. TO CONSIDER AND APPROVE MATERIAL RELATED PARTY TRANSACTIONS BETWEEN THE COMPANY AND WILEMINA FINANCE CORPORATION
    OrdinaryPromoters have an interest in it
    99.84% for0.16% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.16%

    Turnout: all 8.41% · promoters 0.00% · institutions 19.03% · other public 22.57%

  5. TO CONSIDER AND APPROVE MATERIAL RELATED PARTY TRANSACTIONS BETWEEN THE COMPANY AND MR. ARVIND SINGHANIA
    OrdinaryPromoters have an interest in it
    99.87% for0.13% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.13%

    Turnout: all 8.41% · promoters 0.00% · institutions 19.03% · other public 22.57%

For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.

Annual general meeting, 26 Sep 2025, 5 resolutions

39,204 shareholders on the register on 19 Sep 2025; present: 6 promoters and 43 others; votes counted by Akash Jain / Akash Jain.The company's voting result (opens in a new tab)

  1. To receive, consider and adopt the Standalone and Consolidated Audited Financial Statements of the Company for the financial year ended 31 March 2025 together with the Reports of the Board of Directors and Auditors thereonMoreLess
    Ordinary
    99.98% for0.02% against

    Against: promoters 0.00% · institutions 0.00% · other public 15.52%

    Turnout: all 100.00% · promoters 100.00% · institutions 100.00% · other public 100.00%

  2. To declare the final dividend of Rs. 0.60 per equity share of Rs. 5 each for the financial year ended 31 March 2025.
    Ordinary
    99.98% for0.02% against

    Against: promoters 0.00% · institutions 0.00% · other public 15.52%

    Turnout: all 100.00% · promoters 100.00% · institutions 100.00% · other public 100.00%

  3. To appoint a director in place of Mr. Pradeep Kumar Rustagi (DIN: 00879345), who retires by rotation and being eligible, offers his candidature for re-appointment.
    Ordinary
    99.98% for0.02% against

    Against: promoters 0.00% · institutions 0.00% · other public 15.58%

    Turnout: all 100.00% · promoters 100.00% · institutions 100.00% · other public 100.00%

  4. Appointment of Messrs Dhananjay Shukla & Associates, Company Secretaries (ICSI Unique Code: P2025HR323300), as Secretarial Auditors of the Company
    Ordinary
    99.98% for0.02% against

    Against: promoters 0.00% · institutions 0.00% · other public 15.58%

    Turnout: all 100.00% · promoters 100.00% · institutions 100.00% · other public 100.00%

  5. Ratification of Remuneration to Cost Auditors for financial year ending 31 March 2026
    Ordinary
    99.98% for0.02% against

    Against: promoters 0.00% · institutions 0.00% · other public 15.83%

    Turnout: all 100.00% · promoters 100.00% · institutions 100.00% · other public 100.00%

For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.

Postal ballot, 26 Jun 2025, 2 resolutions

39,012 shareholders on the register on 23 May 2025; votes counted by Akash Jain / Akash Jain.The company's voting result (opens in a new tab)

  1. RE-APPOINTMENT OF MRS. PADMAJA SHAILEN RUPAREL (DIN: 01383513) AS AN INDEPENDENT DIRECTOR OF THE COMPANY
    Special
    99.93% for0.07% against

    Against: promoters 0.00% · institutions 100.00% · other public 0.12%

    Turnout: all 65.81% · promoters 91.55% · institutions 55.59% · other public 22.44%

  2. APPOINTMENT OF MR. ABHAY ANANT GUPTE (DIN:00389288) AS AN INDEPENDENT DIRECTOR OF THE COMPANY
    Special
    99.99% for0.01% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.10%

    Turnout: all 65.81% · promoters 91.55% · institutions 55.59% · other public 22.44%

For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.

Postal ballot, 16 Oct 2024, 3 resolutions

The company's voting result (opens in a new tab)

  1. APPROVAL FOR ESTER EMPLOYEE STOCK OPTION PLAN 2024 AND GRANT OF STOCK OPTIONS TO THE ELIGIBLE EMPLOYEES/ DIRECTORS OF THE COMPANY UNDER THE SCHEME
    Special
    99.95% for0.05% against

    Against: promoters 0.00% · institutions 100.00% · other public 0.11%

    Turnout: all 68.42% · promoters 95.50% · institutions 4.45% · other public 23.69%

  2. APPROVAL FOR GRANT OF OPTIONS TO THE ELIGIBLE EMPLOYEES/DIRECTORS OF THE SUBSIDIARY COMPANY(IES), IN INDIA OR OUTSIDE INDIA OF THE COMPANY UNDER ESTER EMPLOYEE STOCK OPTION PLAN-2024
    Special
    99.95% for0.05% against

    Against: promoters 0.00% · institutions 100.00% · other public 0.11%

    Turnout: all 68.42% · promoters 95.50% · institutions 4.45% · other public 23.69%

  3. ISSUANCE OF UPTO 1,10,75,941 FULLY CONVERTIBLE WARRANTS TO THE PERSONS BELONGING TO ‘PROMOTER & PROMOTER GROUP’ AND ‘NON-PROMOTER’ CATEGORY ON PREFERENTIAL BASIS
    SpecialPromoters have an interest in it
    99.99% for0.01% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.11%

    Turnout: all 68.42% · promoters 95.50% · institutions 4.45% · other public 23.69%

For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.

Annual general meeting, 27 Sep 2024, 3 resolutions

Present: 4 promoters and 40 others.The company's voting result (opens in a new tab)

  1. To receive, consider and adopt the Standalone and Consolidated Audited Financial Statements of the Company for the financial year ended 31st March 2024 together with the Reports of Board of Directors and Auditors thereon.MoreLess
    Ordinary
    99.97% for0.03% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.23%

    Turnout: all 68.40% · promoters 95.50% · institutions 4.82% · other public 23.60%

  2. To appoint a director in place of Mr. Arvind Singhania (DIN: 00934017) who retires by rotation and being eligible, offers himself for re-appointment.
    OrdinaryPromoters have an interest in it
    99.93% for0.07% against

    Against: promoters 0.00% · institutions 100.00% · other public 0.24%

    Turnout: all 68.40% · promoters 95.50% · institutions 4.82% · other public 23.60%

  3. Ratification of Remuneration of Cost Auditors for financial year 2024-25
    Ordinary
    99.97% for0.03% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.24%

    Turnout: all 68.40% · promoters 95.50% · institutions 4.82% · other public 23.60%

For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.

Postal ballot, 26 Aug 2024, 1 resolution

The company's voting result (opens in a new tab)

  1. Re-appointment of Mr. Ayush Vardhan Singhania (DIN: 05176205) as Whole-time Director
    SpecialPromoters have an interest in it
    99.98% for0.02% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.13%

    Turnout: all 68.49% · promoters 95.50% · institutions 64.36% · other public 23.50%

For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.

Investor complaints and compliance

Quarter by quarter.

Investor complaints received and resolved, the company's own count

  • Received
  • Resolved

Open at the quarter's end

None open at any quarter's end.
The board is made up as the listing rules require
Yes
The board has a regular chairperson
Yes
The company has a risk management committee
Yes
The chair is related to the managing director
No
The filing has a part on fines and penalties
No
The filing has a part on tax disputes
No
There was a cyber security incident in the quarter
No

The company's own answers in its filing.

How money raised was used

Reported for the quarter to Jun 2026. A preferential issue sells new shares to chosen investors rather than to the public. A warrant or partly paid issue plans the whole issue while the money comes in over time, so the amount set aside can be more than raised so far.

RaisedAmount raisedForSet asideSpentSpent elsewhere
Preferential IssuesNov 2024, checked by CRISIL Ratings Limited174.99Investment in Joint Venture Company namely Ester Loop Infinite Technologies Private Limited, in the form of equity and/or unsecured loan150.2525.30No
Preferential IssuesNov 2024, checked by CRISIL Ratings Limited174.99General Corporate Purpose (not more than 25% of the overall fund raised)15.000.00No
₹ crore. Checked by is the agency appointed to monitor how the money is used. The reason and the comments are the company's, its audit committee's and its auditors' own words.