Garware Hi-Tech Films Limited has informed the Exchange about Transcript
GRWRHITECH · price
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Garware Hi-Tech Films reported record FY25 results with revenue crossing INR 2,000 crores for the first time, reaching INR 2,109 crores (up 25.8% YoY) and a record PAT of INR 331.2 crores (up 62.9% YoY). EBITDA stood at INR 495.5 crores, up 54.3%, with the company maintaining zero net debt and INR 650 crores in cash reserves. The company guided for FY26 revenue of INR 2,500 crores and 20-25% CAGR growth in FY27, with EBITDA margins expected in the 22-25% range. Management outlined capacity expansion plans: a second PPF line (INR 130 crores capex) to begin by September 2025 and a new TPU extrusion line (INR 118 crores, 360 lakh sq ft capacity) to commence by October 2026, expected to improve margins by 1.5-2%. Segment growth was led by Sun Control Window Films (+37.6%), PPF (+25%), and Industrial Products (+15.1%), with 77% of revenue from exports and 87% from value-added films.
Strong, record-breaking performance with clear multi-year growth visibility through capacity expansion and product innovation. The FY26 guidance of INR 2,500 crores (18% growth) and 20-25% CAGR for FY27, combined with margin expansion from TPU integration, signals sustained earnings momentum. Zero debt, robust cash reserves, and minimal collection days (7) reinforce financial strength, though US tariff exposure (48.5% of revenue) remains a key watchpoint that management believes is manageable.