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

₹ 4,028 -0.29%
20 Jun - 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

Market Position
The company is a leading Indian manufacturer of polyester films and high-margin specialty films. It is also the sole producer of Solar Control window films in India and the only company globally with backward integration for producing the raw materials and components needed for these films. [1] It is a leading player in India's shrink film market with a 70% market share. [2]

Website BSE NSE
  • Market Cap ₹ 9,305 Cr.
  • Current Price ₹ 4,028
  • High / Low ₹ 5,378 / 1,945
  • Stock P/E 27.4
  • Book Value ₹ 995
  • Dividend Yield 0.25 %
  • ROCE 21.1 %
  • ROE 15.8 %
  • Face Value ₹ 10.0
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Pros

  • Company is almost debt free.
  • Company has delivered good profit growth of 31.6% CAGR over last 5 years

Cons

  • Stock is trading at 4.05 times its book value
  • Company has a low return on equity of 11.5% over last 3 years.
  • Working capital days have increased from 69.2 days to 135 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 SmallCap BSE Allcap BSE Industrials Nifty Microcap 250 Nifty Total Market

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025
328 355 359 309 288 325 385 433 439 449 589 442 516
273 290 302 259 258 283 323 363 362 333 464 364 416
Operating Profit 54 64 57 50 30 42 62 69 77 116 125 78 99
OPM % 17% 18% 16% 16% 11% 13% 16% 16% 17% 26% 21% 18% 19%
16 7 8 8 17 10 9 9 11 28 13 19 15
Interest 4 4 4 4 4 4 3 2 1 1 2 2 2
Depreciation 7 7 7 8 9 10 10 10 9 10 10 10 10
Profit before tax 58 60 54 47 34 38 58 67 77 132 127 85 103
Tax % 26% 25% 25% 25% 21% 25% 24% 25% 24% 21% 24% 23% 29%
43 45 41 35 27 29 44 51 58 104 96 66 74
EPS in Rs 18.71 19.44 17.48 15.15 11.47 12.31 18.78 21.80 24.99 44.78 41.21 28.21 31.69
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Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
835 887 842 860 823 923 877 960 1,264 1,311 1,582 1,995
768 828 763 790 740 790 734 753 1,036 1,109 1,332 1,577
Operating Profit 67 59 79 70 84 133 143 208 228 202 250 418
OPM % 8% 7% 9% 8% 10% 14% 16% 22% 18% 15% 16% 21%
18 27 6 8 5 9 25 15 40 40 39 76
Interest 37 44 43 33 24 19 18 18 17 15 10 6
Depreciation 33 15 17 13 13 14 20 24 28 32 38 40
Profit before tax 15 27 25 33 51 110 130 181 223 196 240 448
Tax % 22% 35% 31% 33% 34% 32% 33% 34% 28% 25% 25% 24%
11 17 17 22 34 74 87 119 160 148 181 339
EPS in Rs 4.88 7.44 7.46 9.42 14.53 32.00 37.42 51.09 68.96 63.53 77.88 145.88
Dividend Payout % 0% 0% 0% 11% 14% 31% 27% 20% 14% 16% 13% 8%
Compounded Sales Growth
10 Years: 8%
5 Years: 18%
3 Years: 16%
TTM: 26%
Compounded Profit Growth
10 Years: 35%
5 Years: 32%
3 Years: 32%
TTM: 87%
Stock Price CAGR
10 Years: 43%
5 Years: 87%
3 Years: 82%
1 Year: 98%
Return on Equity
10 Years: 8%
5 Years: 10%
3 Years: 11%
Last Year: 16%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Equity Capital 23 23 23 23 23 23 23 23 23 23 23 23
Reserves 529 544 561 1,230 1,268 1,341 1,372 1,524 1,665 1,790 1,955 2,288
434 359 307 311 171 149 147 138 182 141 0 11
98 106 117 87 104 122 122 166 234 223 279 298
Total Liabilities 1,084 1,032 1,009 1,651 1,566 1,635 1,664 1,851 2,104 2,178 2,257 2,620
562 649 647 1,230 1,225 1,238 1,279 1,329 1,340 1,466 1,449 1,439
CWIP 86 11 5 8 10 11 20 11 96 10 2 38
Investments 2 2 2 30 37 122 117 227 275 394 364 645
434 370 354 383 294 265 248 284 392 308 442 499
Total Assets 1,084 1,032 1,009 1,651 1,566 1,635 1,664 1,851 2,104 2,178 2,257 2,620

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
18 88 97 80 129 137 90 179 138 243 117 306
-76 -21 -5 -11 -5 -101 -31 -126 -141 -170 45 -253
50 -106 -95 -44 -171 -48 -63 -35 7 -87 -167 -49
Net Cash Flow -7 -39 -2 25 -47 -12 -4 19 4 -14 -5 4

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Debtor Days 26 20 18 32 27 30 26 33 38 23 28 26
Inventory Days 106 91 107 85 73 62 92 97 103 95 113 101
Days Payable 32 31 36 39 55 69 64 89 75 63 75 57
Cash Conversion Cycle 100 80 90 78 46 23 54 41 67 55 66 69
Working Capital Days 69 53 50 53 32 11 22 32 41 27 46 135
ROCE % 5% 7% 7% 5% 5% 8% 10% 12% 12% 11% 13% 21%

Shareholding Pattern

Numbers in percentages

Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025
60.72% 60.73% 60.73% 60.73% 60.73% 60.73% 60.73% 60.73% 60.73% 60.73% 60.73% 60.73%
0.07% 0.12% 0.08% 0.18% 0.12% 0.14% 0.12% 0.31% 0.52% 1.56% 2.69% 3.50%
3.22% 2.03% 2.39% 2.19% 2.35% 3.49% 3.77% 4.21% 4.76% 4.48% 4.33% 4.75%
36.00% 37.13% 36.80% 36.91% 36.81% 35.65% 35.38% 34.75% 34.00% 33.25% 32.27% 31.03%
No. of Shareholders 31,08631,17331,92432,02231,58030,41038,09239,31642,19150,96355,51857,364

* 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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