ESFL
Essen Speciality financials
- Market cap
- ₹298 Cr
- Sector
- Consumer Durables
What Essen Speciality does
Essen Speciality Films Limited manufactures and exports specialty plastic and foam-based home-furnishing and lifestyle products — including PEVA shower curtains and liners, non-adhesive shelf liners, yoga mats, interlocking foam tiles, artificial plants and flowers, chopping boards and table covers, and outdoor tarpaulins — from a single fully-integrated, ISO 9001:2015-certified plant in Rajkot, Gujarat. Part of the Rajoo Group, it sells to Fortune 500 retailers and OEMs such as IKEA (an exclusive global supplier, twice named IKEA's 'Best Supplier of the Year'), Walmart, The Home Depot and Kroger across 24 countries, with exports contributing over 60% of turnover. The company describes itself as the world's second-largest manufacturer of non-adhesive shelf liners and third-largest manufacturer of PEVA shower curtains and liners.
Segments
- Bath Area
- Kitchen & Dining
- Storage & Organization
- Fitness & Lifestyle
- Home Décor
- Outdoor & Utility
- Manufacturing plant
- 1 fully-integrated, ISO 9001:2015-certified plant (Veraval/Shapar, Rajkot, Gujarat)
- Total installed capacity
- 9,450 MTPA
- Employees
- 1,195 (FY25)
- Export countries
- 24
- Global market position
- World's 2nd-largest manufacturer of non-adhesive shelf liners; 3rd-largest manufacturer of PEVA shower curtains & liners
- Product categories
- 6 (Bath Area, Kitchen & Dining, Storage & Organization, Fitness & Lifestyle, Home Décor, Outdoor & Utility)
Quarterly results
Q1 FY27: revenue down 23.1%, net profit down 79.8% against the same quarter last year.
| Line item | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 46 | 47 | 45 | 41 | 48 +4% | 41 −13% | 32 −28% | 32 −23% |
| EBITDA | 8 | 12 | -4 | 4 | 9 +23% | -1 −109% | -11 −168% | 1 −84% |
| Net profit | 6 | 7 | -5 | 2 | 5 −18% | -2 −129% | -9 −94% | 0 −80% |
How to read this
₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.
Performance −62.3% 1Y
1Y: ₹318.3 on 10 Sept 2025 → ₹119.95. High ₹342.35 (12 Sept 2025), low ₹110.25 (30 Mar 2026).
Financials, as filed
Revenue grew 11.2% a year over 3 years, FY23 to FY26. Operating margin narrowed to 0.3%.
| Year ending | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Revenue | ₹119 Cr | ₹143 Cr | ₹173 Cr | ₹163 Cr |
| Operating profit | ₹20 Cr | ₹24 Cr | ₹20 Cr | ₹0 Cr |
| Operating margin | 16.7% | 16.8% | 11.7% | 0.3% |
| Interest | ₹3 Cr | ₹2 Cr | ₹2 Cr | ₹2 Cr |
| Depreciation | ₹4 Cr | ₹5 Cr | ₹6 Cr | ₹4 Cr |
| Net profit | ₹14 Cr | ₹14 Cr | ₹12 Cr | ₹-4 Cr |
| Net margin | 12.0% | 10.0% | 6.9% | -2.5% |
| Cash from operations | ₹25 Cr | ₹-3 Cr | ₹-12 Cr | ₹1 Cr |
| Free cash flow | ₹23 Cr | ₹-3 Cr | ₹-27 Cr | ₹-36 Cr |
| ROCE | 17.0% | 18.0% | 12.0% | -1.0% |
How to read this
From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.
Balance sheet
| Year ending | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| Equity capital | ₹1 Cr | ₹16 Cr | ₹16 Cr | ₹21 Cr | ₹25 Cr | ₹25 Cr |
| Reserves | ₹68 Cr | ₹56 Cr | ₹70 Cr | ₹122 Cr | ₹133 Cr | ₹122 Cr |
| Borrowings | ₹15 Cr | ₹26 Cr | ₹7 Cr | ₹0 Cr | ₹26 Cr | ₹47 Cr |
| Other liabilities | ₹23 Cr | ₹21 Cr | ₹18 Cr | ₹10 Cr | ₹48 Cr | ₹14 Cr |
| Total liabilities | ₹108 Cr | ₹119 Cr | ₹110 Cr | ₹153 Cr | ₹232 Cr | ₹207 Cr |
| Fixed assets | ₹41 Cr | ₹44 Cr | ₹43 Cr | ₹41 Cr | ₹43 Cr | ₹44 Cr |
| Capital work in progress | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹4 Cr | ₹33 Cr |
| Investments | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹1 Cr | ₹2 Cr | ₹2 Cr |
| Other assets | ₹66 Cr | ₹74 Cr | ₹66 Cr | ₹110 Cr | ₹182 Cr | ₹128 Cr |
| Total assets | ₹108 Cr | ₹119 Cr | ₹110 Cr | ₹153 Cr | ₹232 Cr | ₹207 Cr |
How to read this
As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.
Who owns it
As disclosed at Jun 2026
Since Jun 2025, promoters added +2.67 pp while the public trimmed −2.53 pp. The shareholder count grew 7% to 3,694.
- Promoters
- 70.9%
- Public
- 29.1%
Since Jun 2025
- Promoters +2.67 pp
- Public −2.53 pp
- FIIs −0.14 pp
How it drifted, 12 quarters
Over this window the public went from 23.9% to 29.1% — +5.3 pp.
Ownership split by quarter, oldest first. Sep '23: Promoters 70.0%, FIIs 2.6%, DIIs 3.4%, Public 23.9%.Dec '23: Promoters 70.1%, FIIs 0.8%, DIIs 2.3%, Public 26.8%.Mar '24: Promoters 70.1%, FIIs 0.6%, DIIs 2.3%, Public 27.0%.Jun '24: Promoters 70.1%, FIIs 0.6%, DIIs 2.3%, Public 27.0%.Sep '24: Promoters 70.2%, FIIs 0.2%, DIIs 1.4%, Public 28.2%.Dec '24: Promoters 70.2%, FIIs 0.1%, DIIs 0.2%, Public 29.5%.Mar '25: Promoters 68.2%, FIIs 0.2%, Public 31.7%.Jun '25: Promoters 68.2%, FIIs 0.1%, Public 31.7%.Sep '25: Promoters 68.2%, Public 31.8%.Dec '25: Promoters 69.1%, DIIs 1.0%, Public 30.0%.Mar '26: Promoters 70.8%, Public 29.1%.Jun '26: Promoters 70.9%, Public 29.1%.
Who is on the register
Named in the Jun 2026 filing
Every holder of Essen Speciality above SEBI's 1% disclosure line, and what changed since Mar 2026.
| Holder | Stake | Change |
|---|---|---|
| Karishma Rajesh Doshi | 14.88% | unchanged |
| Utsav Kishorkumar Doshi | 9.66% | unchanged |
| Khushboo Doshi | 9.47% | unchanged |
| Utkarsh Rajesh Doshi | 9.28% | unchanged |
| Nita Kishor Doshi | 7.15% | unchanged |
| Pallav Kishorbhai Doshi | 6.57% | unchanged |
| Kruti Rajeshbhai Doshi | 4.64% | unchanged |
| Devyani C Doshi | 3.50% | unchanged |
| Rajesh Nanalal Doshi | 2.90% | unchanged |
| Shrutina Nexgen LLP | 1.79% | unchanged |
| Chandni Pallav Doshi | 0.31% | unchanged |
| Urvashi Bansidhar Soni | 0.28% | unchanged |
A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.
Learn to analyse Essen Speciality
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