Garware Hi Tech Films Ltd

Garware Hi Tech Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

Garware Hi Tech Films Ltd

₹ 5,445 2.49%
14 May - close price
garwarehitechfilms.com BSE: 500655 NSE: GRWRHITECH
About

Garware Polyester is the world's No.1 vertically integrated ''Chip to Film'' manufacturing company.[1]

Key Points

Business Profile[1]
Garware Hi-Tech Films Ltd is a leading global manufacturer of hi-tech, value-added specialty polyester films, with fully integrated chips-to-film operations. The company has transitioned from commodity polyester films to premium, high-margin specialty films, with value-added products contributing ~87% of revenue.

Website BSE NSE
  • Market Cap ₹ 12,653 Cr.
  • Current Price ₹ 5,445
  • High / Low ₹ 5,560 / 2,681
  • Stock P/E 37.4
  • Book Value ₹ 1,143
  • Dividend Yield 0.22 %
  • ROCE 18.0 %
  • ROE 13.4 %
  • Face Value ₹ 10.0
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Pros

  • Company is almost debt free.
  • Company has delivered good profit growth of 22.0% CAGR over last 5 years

Cons

  • Company has a low return on equity of 13.1% over last 3 years.
  • Working capital days have increased from 69.8 days to 146 days

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Industrials Capital Goods Industrial Products Plastic Products - Industrial

Part of BSE Industrials Nifty Microcap 250 Nifty Total Market BSE 1000 Nifty Smallcap 500

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026
349 380 397 454 447 474 621 466 548 495 570 459 597
296 316 332 379 368 356 484 385 443 385 450 388 461
Operating Profit 53 64 65 75 78 119 137 81 104 110 119 70 135
OPM % 15% 17% 16% 17% 18% 25% 22% 17% 19% 22% 21% 15% 23%
17 9 9 9 12 11 14 12 17 13 14 16 21
Interest 5 4 4 2 2 2 2 2 2 2 2 2 2
Depreciation 10 10 10 10 10 10 10 10 10 11 11 12 12
Profit before tax 56 59 61 73 78 118 138 81 109 110 120 73 142
Tax % 23% 25% 24% 23% 26% 25% 25% 25% 29% 25% 24% 24% 24%
43 44 46 56 58 88 104 61 78 83 91 56 108
EPS in Rs 18.54 18.81 19.76 24.05 24.88 38.03 44.88 26.17 33.49 35.73 39.27 24.01 46.58
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Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
896 857 874 833 948 925 989 1,303 1,438 1,677 2,109 2,120
836 776 801 750 804 763 770 1,065 1,211 1,395 1,668 1,685
Operating Profit 60 81 73 83 144 162 219 238 227 282 441 435
OPM % 7% 9% 8% 10% 15% 17% 22% 18% 16% 17% 21% 20%
27 6 8 5 9 12 15 39 42 39 54 65
Interest 44 44 33 25 19 18 20 18 17 12 9 8
Depreciation 15 17 14 14 14 20 24 28 32 39 41 45
Profit before tax 27 27 34 50 120 135 190 231 220 270 445 446
Tax % 35% 38% 33% 34% 32% 36% 34% 28% 24% 25% 26% 24%
18 16 22 33 82 86 126 167 166 203 331 338
EPS in Rs 7.64 7.08 9.66 14.26 35.14 37.03 54.21 71.96 71.51 87.50 142.57 145.59
Dividend Payout % 0% 0% 10% 14% 28% 27% 18% 14% 14% 11% 8% 8%
Compounded Sales Growth
10 Years: 9%
5 Years: 16%
3 Years: 14%
TTM: 1%
Compounded Profit Growth
10 Years: 36%
5 Years: 22%
3 Years: 27%
TTM: 2%
Stock Price CAGR
10 Years: 48%
5 Years: 48%
3 Years: 108%
1 Year: 50%
Return on Equity
10 Years: 9%
5 Years: 12%
3 Years: 13%
Last Year: 13%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Equity Capital 23 23 23 23 23 23 23 23 23 23 23 23
Reserves 545 562 1,231 1,269 1,349 1,380 1,540 1,688 1,833 2,022 2,349 2,633
368 315 312 171 149 147 138 182 141 0 0 16
105 119 87 107 125 128 167 240 218 279 310 339
Total Liabilities 1,042 1,020 1,653 1,570 1,646 1,679 1,868 2,133 2,214 2,324 2,682 3,011
649 648 1,231 1,226 1,238 1,279 1,329 1,341 1,467 1,450 1,442 1,578
CWIP 11 5 8 10 11 20 11 96 10 2 39 26
Investments 1 1 29 36 120 116 226 274 393 363 643 698
381 366 386 298 277 264 302 423 344 508 557 710
Total Assets 1,042 1,020 1,653 1,570 1,646 1,679 1,868 2,133 2,214 2,324 2,682 3,011

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
91 101 77 134 141 99 199 172 218 172 330 275
-20 -5 -12 -5 -101 -44 -126 -141 -168 46 -275 -208
-107 -96 -40 -172 -49 -64 -36 6 -89 -169 -52 -60
Net Cash Flow -36 0 25 -43 -8 -9 38 37 -39 48 2 8
Free Cash Flow 63 92 61 124 115 45 139 64 152 156 276 114
CFO/OP 165% 131% 117% 174% 116% 79% 109% 90% 117% 84% 100% 83%

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Debtor Days 20 17 26 17 22 21 16 9 8 8 7 9
Inventory Days 93 111 90 82 70 100 128 145 109 132 116 149
Days Payable 30 36 39 54 68 62 89 76 57 73 55 69
Cash Conversion Cycle 82 91 77 44 24 58 54 79 60 67 68 89
Working Capital Days -58 -58 -65 17 5 17 9 8 7 36 28 146
ROCE % 7% 8% 5% 5% 9% 10% 13% 13% 12% 14% 21% 18%

Insights

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Mar 2015 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
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Global Export Reach
Countries
Installed Capacity - Sun Control Films (SCF)
LSF p.a.
Domestic Shrink Film Market Share
% ・Standalone data
Installed Capacity - Paint Protection Films (PPF)
LSF p.a.
Energy Intensity
MJ/MT ・Standalone data
Garware Application Studios (GAS) Count
Number
Installed Capacity - IPD
MT p.a.
Number of SKUs
Count

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
60.73% 60.73% 60.73% 60.73% 60.73% 60.73% 60.73% 60.73% 60.73% 60.73% 60.73% 60.73%
0.12% 0.14% 0.12% 0.31% 0.52% 1.56% 2.69% 3.50% 3.86% 3.58% 3.96% 3.98%
2.35% 3.49% 3.77% 4.21% 4.76% 4.48% 4.33% 4.75% 4.89% 4.96% 5.35% 5.28%
36.81% 35.65% 35.38% 34.75% 34.00% 33.25% 32.27% 31.03% 30.53% 30.74% 29.98% 30.04%
No. of Shareholders 31,58030,41038,09239,31642,19150,96355,51857,36454,33557,61955,54454,492

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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Documents

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