The subsidiary will focus on marketing, supporting overseas customers, exploring new business opportunities, undertaking value-added manufacturing, and carrying out other permissible business activities.
The company will provide further updates once the subsidiary is formally incorporated, pending all necessary approvals from relevant governmental, regulatory, and statutory authorities in both India and the USA.
The initial capital investment for the subsidiary will be in cash, with the cost of acquisition not exceeding $ 1.5 million.
Ester Industries is one of India’s leading manufacturers of Polyester Films and Specialty Polymers having a track record of nearly four decades of continually developing new and innovative products for customers across the globe.
The company reported consolidated net loss of Rs 7.16 crore in Q1 FY26 as compared to net loss of Rs 16.10 crore reported in Q1 FY25. Revenue from operations rose 18.2% YoY to Rs 338.20 crore in Q1 FY26.