Ester Industries has granted 19,188 stock options to its Chief Marketing Officer under the company's Employee Stock Option Plan 2024, as announced through a regulatory filing on January 8, 2026. The grant was approved by the Nomination and Remuneration Committee through a resolution passed by circulation.

Stock Option Grant Details

The following table summarizes the key parameters of the stock option grant:

Pricing and Exercise Terms

The stock options have been priced at ₹79.00 per option, which represents a 20% discount to the fair market value. The fair market value was determined based on the closing price of ₹98.81 on January 7, 2026, on the National Stock Exchange of India Limited, where higher trading volumes were recorded.

Each option, upon exercise, will result in the issuance of one equity share of the company. The options carry a maximum exercise period of five years from the date of respective vesting, providing flexibility to the option holder.

ESOP 2024 Framework

The Employee Stock Option Plan 2024 is administered by the Nomination and Remuneration Committee and complies with SEBI (Share Based Employee Benefits and Sweat Equity) Regulations, 2021. The scheme includes specific eligibility criteria for participation:

Eligible Participants

• Employees working exclusively in India or outside India
• Directors of the company (excluding independent directors)
• Employees of subsidiary or holding companies

Exclusions

• Promoters or promoter group members
• Directors holding more than 10% of outstanding equity shares

Vesting Requirements

The stock options will vest within a maximum period of five years from the date of grant, with specific vesting schedules to be outlined in individual grant letters. The plan mandates a minimum period of one year between the grant date and vesting of stock options, ensuring alignment with regulatory requirements.

The company has filed the requisite disclosures under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, maintaining transparency with stakeholders regarding this employee incentive initiative.

Ester Industries has reached a significant milestone in its sustainable materials venture through its joint venture ELITe (Ester Loop Infinite Technologies Pvt. Ltd.). The company announced that ELITe has awarded the detailed engineering contract for its Infinite Loop India project to Toyo Engineering India Private Limited, representing the final engineering phase ahead of construction.

Engineering Contract Award Details

ELITe has selected Toyo Engineering India Private Limited, a globally recognized EPC firm with over four decades of experience in executing large-scale industrial and petrochemical projects across India. This strategic partnership follows the successful completion of front-end engineering design (FEED) by Tata Consulting Engineers.

Project Economics and Financing Progress

The project maintains strong economics with prudent capital discipline. ELITe has realized savings of USD 5.00 million from land acquisition efforts, ensuring the facility is trending on budget. The debt financing process is running as per schedule, with multiple term sheets received from international lenders, representing strong endorsement of the project's attractive economics.

Facility Specifications and Market Position

The Infinite Loop India manufacturing facility in Gujarat is strategically positioned to address demand in the packaging and textiles sectors. The facility is designed with an annual production capacity of 70,000 metric tonnes of PET resin and will serve as India's first Infinite Loop facility for true circularity.

Strategic Partnerships and Customer Base

The joint venture recently announced a multi-year offtake agreement signed with Nike, which is positioned as the facility's anchor customer. ELITe also maintains partnerships with Taro Plast S.p.A. for automotive applications and Hyosung TNC for textile materials, demonstrating strong market confidence in the project.

Leadership Commentary

Mr. Arvind Singhania, Chairman & CEO of Ester Industries Limited, commented on the development: "Our detailed engineering partnership with Toyo marks a meaningful step forward in delivering India's first Infinite Loop facility. With the land secured and Nike confirmed as our anchor customer, the project now stands on a strong technical foundation with clear commercial visibility."

Adel Essaddam, Chief Operating Officer of Loop, stated: "We are excited to collaborate with Toyo on this critical phase as we deliver India's first Infinite Loop facility, a model for true circularity, engineered to convert low-value textile and plastic waste into virgin-quality resin."

Kishor Salunke, Chief Operating Officer (SSBU) of Toyo Engineering India, expressed: "Toyo is genuinely delighted to be associated with ELITe in the execution of the Chemical Recycling PET Project at Bharuch, Gujarat. The recycling of PET into monomers and then back to a virgin quality PET, is a distinctive initiative."

Technology and Environmental Impact

The facility will utilize Loop's patented depolymerization technology combined with Ester's polymerization expertise to transform polyester textile waste into high-purity materials. The project aligns with the Indian government's vision of circular fashion and mission LiFE (Lifestyle for Environment), addressing challenges of landfill accumulation and resource depletion while creating new livelihood opportunities.