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

₹ 1,694 -1.15%
19 Apr - close price
garwarehitechfilms.com BSE: 500655 NSE : GRWRHITECH
About

Garware Polyester is engaged in the business of manufacturing of Polyester Films.

Key Points

Market Position
Garware Hi-Tech Films Limited (Formally Known as Garware Polyester Limited) is the pioneer and the largest exporters of polyester films in India with an experience of 3 decades. Also it is the sole manufacture of Solar Control window films in India and among the only 2 companies in the world having patented technology for manufacturing the UV stabilized dyed films and the only Company in the world with backward integration for manufacturing of its own raw material and all components for manufacture of Solar control window films. [1] It is a market leader with more than 90% market share in Shrink film manufacturing in India. [2]

Website BSE NSE
  • Market Cap ₹ 3,936 Cr.
  • Current Price ₹ 1,694
  • High / Low ₹ 2,200 / 538
  • Stock P/E 26.3
  • Book Value ₹ 803
  • Dividend Yield 0.59 %
  • ROCE 10.7 %
  • ROE 8.16 %
  • Face Value ₹ 10.0
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Pros

  • Company has reduced debt.
  • Company is almost debt free.
  • Company has delivered good profit growth of 33.4% CAGR over last 5 years
  • Debtor days have improved from 31.5 to 22.9 days.

Cons

  • The company has delivered a poor sales growth of 9.76% over past five years.
  • Company has a low return on equity of 8.42% over last 3 years.

* 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

Sector: Packaging Industry: Packaging

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
255 280 302 326 309 328 355 359 309 288 325 385 433
197 232 240 271 251 273 290 302 259 258 283 323 363
Operating Profit 58 48 61 55 58 54 64 57 50 30 42 62 69
OPM % 23% 17% 20% 17% 19% 17% 18% 16% 16% 11% 13% 16% 16%
5 6 7 10 7 16 7 8 8 17 10 9 9
Interest 4 5 4 4 4 4 4 4 4 4 4 3 2
Depreciation 6 7 7 7 7 7 7 7 8 9 10 10 10
Profit before tax 52 43 57 53 54 58 60 54 47 34 38 58 67
Tax % 34% 32% 36% 22% 29% 26% 25% 25% 25% 21% 25% 24% 25%
34 29 37 42 38 43 45 41 35 27 29 44 51
EPS in Rs 14.83 12.50 15.91 17.91 16.43 18.71 19.44 17.48 15.15 11.47 12.31 18.78 21.80
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Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
787 776 835 887 842 860 823 923 877 960 1,264 1,311 1,430
702 709 768 828 763 790 740 790 734 753 1,036 1,109 1,227
Operating Profit 85 67 67 59 79 70 84 133 143 208 228 202 203
OPM % 11% 9% 8% 7% 9% 8% 10% 14% 16% 22% 18% 15% 14%
20 14 18 27 6 8 5 9 25 15 40 40 44
Interest 28 29 37 44 43 33 24 19 18 18 17 15 13
Depreciation 42 39 33 15 17 13 13 14 20 24 28 32 38
Profit before tax 35 12 15 27 25 33 51 110 130 181 223 196 197
Tax % 0% -134% 22% 35% 31% 33% 34% 32% 33% 34% 28% 25%
35 28 11 17 17 22 34 74 87 119 160 148 150
EPS in Rs 15.04 11.88 4.88 7.44 7.46 9.42 14.53 32.00 37.42 51.09 68.96 63.53 64.36
Dividend Payout % 10% 0% 0% 0% 0% 11% 14% 31% 27% 20% 14% 16%
Compounded Sales Growth
10 Years: 5%
5 Years: 10%
3 Years: 14%
TTM: 6%
Compounded Profit Growth
10 Years: 20%
5 Years: 33%
3 Years: 19%
TTM: -9%
Stock Price CAGR
10 Years: 36%
5 Years: 52%
3 Years: 33%
1 Year: 198%
Return on Equity
10 Years: 6%
5 Years: 8%
3 Years: 8%
Last Year: 8%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Sep 2023
Equity Capital 23 23 23 23 23 23 23 23 23 23 23 23 23
Reserves 434 517 529 544 561 1,230 1,268 1,341 1,372 1,524 1,665 1,790 1,843
Preference Capital 54 54 54 0 0 0 0 0 0 0 0 0
226 292 380 359 307 311 171 149 147 138 182 141 53
154 138 152 106 117 87 104 122 122 166 234 223 234
Total Liabilities 838 971 1,084 1,032 1,009 1,651 1,566 1,635 1,664 1,851 2,104 2,178 2,153
524 555 562 649 647 1,230 1,225 1,238 1,279 1,329 1,340 1,466 1,457
CWIP 6 39 86 11 5 8 10 11 20 11 96 10 9
Investments 2 2 2 2 2 30 37 122 117 227 275 394 339
306 375 434 370 354 383 294 265 248 284 392 308 347
Total Assets 838 971 1,084 1,032 1,009 1,651 1,566 1,635 1,664 1,851 2,104 2,178 2,153

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
46 52 18 88 97 80 129 137 90 179 138 243
-11 -42 -76 -21 -5 -11 -5 -101 -31 -126 -141 -170
-5 31 50 -106 -95 -44 -171 -48 -63 -35 7 -87
Net Cash Flow 31 41 -7 -39 -2 25 -47 -12 -4 19 4 -14

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Debtor Days 9 21 26 20 18 32 27 30 26 33 38 23
Inventory Days 95 76 106 91 107 85 73 62 92 97 103 95
Days Payable 20 29 32 31 36 39 55 69 64 89 75 63
Cash Conversion Cycle 84 69 100 80 90 78 46 23 54 41 67 55
Working Capital Days 43 47 69 53 50 53 32 11 22 32 41 27
ROCE % 9% 4% 5% 7% 7% 5% 5% 8% 10% 12% 12% 11%

Shareholding Pattern

Numbers in percentages

Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
60.72% 60.72% 60.72% 60.72% 60.72% 60.73% 60.73% 60.73% 60.73% 60.73% 60.73% 60.73%
0.03% 0.10% 0.11% 0.10% 0.07% 0.12% 0.08% 0.18% 0.12% 0.14% 0.12% 0.31%
3.81% 3.20% 3.24% 3.26% 3.22% 2.03% 2.39% 2.19% 2.35% 3.49% 3.77% 4.21%
35.44% 35.98% 35.93% 35.92% 36.00% 37.13% 36.80% 36.91% 36.81% 35.65% 35.38% 34.75%
No. of Shareholders 25,94929,41230,59930,83731,08631,17331,92432,02231,58030,41038,09239,316

* 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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