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

₹ 6,118 6.47%
29 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 ₹ 14,213 Cr.
  • Current Price ₹ 6,118
  • High / Low ₹ 6,168 / 2,681
  • Stock P/E 42.5
  • Book Value ₹ 1,113
  • Dividend Yield 0.20 %
  • ROCE 17.9 %
  • ROE 13.7 %
  • Face Value ₹ 10.0
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Pros

  • Company is almost debt free.
  • Company has delivered good profit growth of 23.2% CAGR over last 5 years

Cons

  • Company has a low return on equity of 13.2% over last 3 years.
  • Debtor days have increased from 30.2 to 36.4 days.
  • Working capital days have increased from 82.2 days to 164 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

Standalone Figures in Rs. Crores / View Consolidated

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
288 325 385 433 439 449 589 442 516 453 512 451 532
258 283 323 363 362 333 464 364 416 356 411 385 408
Operating Profit 30 42 62 69 77 116 125 78 99 97 101 66 124
OPM % 11% 13% 16% 16% 17% 26% 21% 18% 19% 21% 20% 15% 23%
17 10 9 9 11 28 13 19 15 14 43 17 23
Interest 4 4 3 2 1 1 2 2 2 1 1 1 2
Depreciation 9 10 10 10 9 10 10 10 10 10 11 11 12
Profit before tax 34 38 58 67 77 132 127 85 103 99 132 70 133
Tax % 21% 25% 24% 25% 24% 21% 24% 23% 29% 25% 19% 24% 25%
27 29 44 51 58 104 96 66 74 75 107 53 100
EPS in Rs 11.47 12.31 18.78 21.80 24.99 44.78 41.21 28.21 31.69 32.11 45.85 23.02 43.10
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Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
887 842 860 823 923 877 960 1,264 1,311 1,582 1,995 1,948
828 763 790 740 790 734 753 1,036 1,109 1,332 1,577 1,560
Operating Profit 59 79 70 84 133 143 208 228 202 250 418 387
OPM % 7% 9% 8% 10% 14% 16% 22% 18% 15% 16% 21% 20%
27 6 8 5 9 25 15 40 40 39 76 97
Interest 44 43 33 24 19 18 18 17 15 10 6 5
Depreciation 15 17 13 13 14 20 24 28 32 38 40 44
Profit before tax 27 25 33 51 110 130 181 223 196 240 448 434
Tax % 35% 31% 33% 34% 32% 33% 34% 28% 25% 25% 24% 23%
17 17 22 34 74 87 119 160 148 181 339 335
EPS in Rs 7.44 7.46 9.42 14.53 32.00 37.42 51.09 68.96 63.53 77.88 145.88 144.08
Dividend Payout % 0% 0% 11% 14% 31% 27% 20% 14% 16% 13% 8% 8%
Compounded Sales Growth
10 Years: 9%
5 Years: 15%
3 Years: 14%
TTM: -2%
Compounded Profit Growth
10 Years: 35%
5 Years: 23%
3 Years: 32%
TTM: -1%
Stock Price CAGR
10 Years: 50%
5 Years: 46%
3 Years: 109%
1 Year: 30%
Return on Equity
10 Years: 9%
5 Years: 12%
3 Years: 13%
Last Year: 14%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

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 544 561 1,230 1,268 1,341 1,372 1,524 1,665 1,790 1,955 2,288 2,564
359 307 311 171 149 147 138 182 141 0 0 12
106 117 87 104 122 122 166 234 223 279 309 334
Total Liabilities 1,032 1,009 1,651 1,566 1,635 1,664 1,851 2,104 2,178 2,257 2,620 2,933
649 647 1,230 1,225 1,238 1,279 1,329 1,340 1,466 1,449 1,438 1,573
CWIP 11 5 8 10 11 20 11 96 10 2 39 26
Investments 2 2 30 37 122 117 227 275 394 364 645 699
370 354 383 294 265 248 284 392 308 442 499 634
Total Assets 1,032 1,009 1,651 1,566 1,635 1,664 1,851 2,104 2,178 2,257 2,620 2,933

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
88 97 80 129 137 90 179 138 243 117 306 262
-21 -5 -11 -5 -101 -31 -126 -141 -170 45 -253 -181
-106 -95 -44 -171 -48 -63 -35 7 -87 -167 -49 -56
Net Cash Flow -39 -2 25 -47 -12 -4 19 4 -14 -5 4 26
Free Cash Flow 59 87 65 118 111 36 119 30 177 101 252 101
CFO/OP 162% 128% 123% 166% 121% 81% 101% 76% 140% 69% 98% 87%

Ratios

Standalone Figures in Rs. Crores / View Consolidated

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 18 32 27 30 26 33 38 23 28 26 36
Inventory Days 91 107 85 73 62 92 97 103 95 113 101 118
Days Payable 31 36 39 55 69 64 89 75 63 75 57 74
Cash Conversion Cycle 80 90 78 46 23 54 41 67 55 66 69 81
Working Capital Days -57 -57 -63 24 10 20 16 22 9 46 37 164
ROCE % 7% 7% 5% 5% 8% 10% 12% 12% 11% 13% 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
%
Installed Capacity - Paint Protection Films (PPF)
LSF p.a.
Energy Intensity
MJ/MT
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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