Garware Hi-Tech Films Limited has informed the Exchange about Credit Rating
GRWRHITECH · price
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CARE Ratings has reaffirmed Garware Hi-Tech Films' credit ratings on its bank facilities, keeping the long-term rating at CARE AA- with Stable outlook and short-term at CARE A1+. The reviewed facility amounts have come down to ₹80 crore (long-term, from ₹149.01 crore) and ₹120 crore (short-term, from ₹198.19 crore). The company delivered strong FY25 results with revenue up 25.8% to ₹2,128.6 crore and PBILDT margins expanding to 21.63% from 17.56%. The company is net debt-free, holds ₹640.25 crore in cash and liquid investments, and its gearing remains negligible at 0.01x. Rating strengths include a dominant specialty polyester films franchise, 87% revenue from value-added products, and 77% exports.
A reaffirmation at AA-/Stable is a neutral-to-positive signal — the rating is unchanged but supported by improving financials, zero net debt, and strong liquidity. Shareholders can take comfort that the company's credit quality remains investment-grade and its borrowing costs are unlikely to rise. The reduction in facility limits also reflects lower reliance on external debt.