Garware Hi-Tech Films

Quick check

The five things to look at first. Open one for more.

• DebtHigh safetyRated AA by 2 agencies.
• ResultsGrowingIn the Sep 2026 quarter, sales rose 22% and profit rose 42% from a year earlier.
• DilutionNo new sharesNo new shares issued in the last year, so existing shareholders' slices were not cut.
• PromotersSteadyThe promoters (founders or parent) own 61% of the company, about the same as in Sep 2025.
• ValuationExpensive vs its pastThe share trades at 38.4 times its yearly earnings (P/E), pricier than 90% of the time in the last 5 years. Its usual P/E is about 16.

Garware Hi-Tech Films against the typical company in its industry. The rank is out of the companies that report each figure; green means the better quarter of the pack, red the worse quarter.

• Valuation (P/E)38.4 against a typical 21.4: pricier than most peers (1st = cheapest).55th of 76
• Sales growth+22.1% against a typical +14.5% from a year earlier.22nd of 66
• Profit growth+41.8% against a typical +15.3% from a year earlier.19th of 55
• Share price, 3 months+2.2% against a typical −8.7%.15th of 61
• Size₹ 16,350.7 Cr. market value against a typical ₹ 104.4 Cr. (1st = largest).3rd of 68

Exchange filings and their impact on the company.

• 26 Oct 2026Analysts/Institutional Investor Meet/Con. Call UpdatesHigh impactVery positivePrice +2.1% on 27 Oct
  Record Q2 and H1 with FY27 margin guidance raised to 27% and capacity path to Rs 3,500 cr underpins strong earnings growth.

  Garware Hi-Tech Films reported its best-ever quarter in Q2 FY27 with revenue of Rs 696 crores, EBITDA of Rs 189 crores at 27.2% margin and PAT of Rs 129 crores, with H1 revenue up 25% to Rs 1,329 crores. Management upgraded FY27 EBITDA margin guidance by 200 basis points to 27% plus-minus 2% while reaffirming revenue of more than Rs 2,500 crores. The TPU film line is on track for Q3 FY27 and the Rs 191 crores solar-control expansion for H1 FY28, together supporting peak revenue potential of about Rs 3,500 crores.

  Full analysisFiling
• 22 Oct 2026Outcome of Board MeetingHigh impactVery positivePrice −0.4% that day
  Record Rs 696 cr Q2 revenue with 27.2% margin drives FY27 margin guidance hike to 27% +/-2%.

  Garware Hi-Tech Films reported record Q2 FY27 revenue of Rs 696 crore, up 22% YoY and 10% QoQ, with EBITDA up 42% to Rs 189 crore at 27.2% margin and PAT up 42% to Rs 129 crore. H1 FY27 revenue was Rs 1329 crore at 28.7% EBITDA margin, well above its prior 23-27% range. The company raised FY27 EBITDA guidance by 200bps to 27% plus/minus 2% while reaffirming Rs 2500+ crore revenue, backed by TPU line commissioning in Q3 FY27, a Rs 191 crore SCF line in H1 FY28, and Rs 933 crore cash.

  Full analysisFiling
• 22 Oct 2026UpdatesLow impactNegativePrice −0.4% that day
  MPCB forfeited Rs 25 lakh bank guarantee for alleged consent breach - financially immaterial.

  Garware Hi-Tech Films said the Maharashtra Pollution Control Board has forfeited its Rs 25 lakh bank guarantee for alleged non-compliance with consent conditions. The company received the MPCB letter dated October 19, 2026 on October 21, 2026. The amount is negligible compared to annual profit of around Rs 388 crore and there is no plant shutdown disclosed, so the financial impact is immaterial.

  Full analysisFiling

Results dates and other board meetings. Full calendar

Compounded yearly rates over each period.

Listed companies in the same business.

S. B. Garware

Executive Chairman, Managing Director

Monika Garware Modi

Executive Vice Chairperson of the Board, Joint Managing Director

Awaneesh Kumar Srivastava

Company Secretary, Compliance Officer

Uday Vasantrao Joshi

Whole-Time Director