Garware Hi Tech Films Ltd logo

Garware Hi Tech Films Ltd

GRWRHITECH NSE

Key Fundamentals

SmallcapPlastic Products - IndustrialIndustrial Products
Market Cap
₹16,287 Cr
Volatility
Moderate
P/E Ratio
42.53
EBITDA
₹435 Cr
Return on Equity
13.96%
Debt to Equity
0.01
Book Value
₹1,143.3
EPS
₹106.73
52W High
₹7,990
52W Low
₹2,681

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

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Tapetide Score

Data-driven rating, 0–100. How it works →

Technical Indicators

Key Insights

Strengths

2
  • Company is almost debt free.
  • Company has delivered good profit growth of 22.0% CAGR over last 5 years

Weaknesses

2
  • Company has a low return on equity of 13.1% over last 3 years.
  • Working capital days have increased from 69.8 days to 146 days

Growth Rate

Revenue Growth
-2.02% ↘
Net Income Growth
3.72% ↘
Cash Flow Change
91.58% ↗
ROE
40.44% ↗
ROCE
39.05% ↗
EBITDA Margin (Avg.)
-13.10% ↘

AI Analysis — Bull vs Bear

Anthropic anthropic claude-opus-4.6 5d ago
AI opinion · based on fundamentals
Risk high

Garware Hi-Tech Films Ltd commands a market cap of ₹17,146 Cr at a P/E of 42.8x and is virtually debt-free. The stock has compounded at 99% CAGR over three years, far outpacing its 14% sales CAGR over the same period, while working capital days have more than doubled from ~70 to 146 days.

Bull Case 8
  • Company is almost debt-free, giving it financial flexibility and low interest cost burden
  • Compounded profit growth of 27% CAGR over 3 years significantly outpaces sales growth of 14%, indicating margin expansion
  • 5-year compounded profit CAGR of 22% demonstrates sustained earnings momentum
  • 10-year profit CAGR of 36% reflects long-term structural earnings improvement
  • TTM profit growth of 19% continues the positive earnings trajectory even on a higher base
  • 5-year sales CAGR of 16% shows consistent top-line growth in the specialty films segment
  • ROE has improved from 9% (10-year average) to 13% (last year and 3-year average), showing gradual return profile enhancement
  • Stock CAGR of 51% over 10 years reflects long-duration wealth creation track record
Bear Case 8
  • P/E of 42.8x is elevated for an industrial products company, implying high growth expectations already priced in
  • Working capital days have surged from 69.8 to 146 days, more than doubling and straining cash conversion
  • 3-year ROE of 13.1% is modest relative to the premium valuation, indicating capital is not being deployed at high incremental returns
  • TTM sales growth has decelerated sharply to 6% versus 14% 3-year CAGR, suggesting slowing demand momentum
  • P/B ratio of 6.24x is rich for a company generating only 13% ROE, implying a wide gap between market price and book returns
  • Dividend yield of just 0.17% offers negligible income cushion to shareholders
  • Stock CAGR of 150% over 1 year has massively outrun underlying profit growth of 19% TTM, indicating valuation re-rating that may not sustain
  • 10-year sales CAGR of only 9% suggests the business has historically been a single-digit top-line grower, making current multiples hard to justify long-term

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

Anthropic anthropic claude-opus-4.6 18h ago
Neutral 3
  • Q1FY27 earnings call held Aug 7

    Garware Hi-Tech Films held its Q1FY27 earnings conference call on August 7, 2026 at 11:00 AM IST, discussing unaudited financial results for the quarter ended June 30, 2026. Audio recording uploaded to company website.

  • Interim CFO appointed Aug 6

    Prashant L. Pai appointed as Interim Chief Financial Officer effective August 6, 2026, following Board recommendation.

  • AGM scheduled for Sep 23 Aug 6

    69th Annual General Meeting set for September 23, 2026. Record date for dividend entitlement and e-voting is September 16, 2026.

TL;DR: A quiet period for Garware Hi-Tech Films with only routine corporate governance updates — an earnings call, interim CFO appointment, and AGM scheduling. No material positive catalysts or risk signals emerged. The interim CFO tag bears watching for permanent leadership clarity, but overall the news flow is operationally neutral with no change in trend direction.

Quarterly Results

  Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales
380
397
454
447
474
621
466
548
495
570
459
597
633
Expenses
316
332
379
368
356
484
385
443
385
450
388
461
461
Operating Profit
64
65
75
78
119
137
81
104
110
119
70
135
172
OPM %
17%
16%
17%
18%
25%
22%
17%
19%
22%
21%
15%
23%
27%
Other Income
9
9
9
12
11
14
12
17
13
14
16
21
20
Interest
4
4
2
2
2
2
2
2
2
2
2
2
2
Depreciation
10
10
10
10
10
10
10
10
11
11
12
12
13
PBT
59
61
73
78
118
138
81
109
110
120
73
142
176
Tax %
25%
24%
23%
26%
25%
25%
25%
29%
25%
24%
24%
24%
25%
Net Profit
44
46
56
58
88
104
61
78
83
91
56
108
133
EPS in Rs
18.81
19.76
24.05
24.88
38.03
44.88
26.17
33.49
35.73
39.27
24.01
46.58
57.1
Figures in ₹ Crores

Profit & Loss

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
896
857
874
833
948
925
989
1,303
1,438
1,677
2,109
2,120
2,258
Expenses
836
776
801
750
804
763
770
1,065
1,211
1,395
1,668
1,685
1,761
Operating Profit
60
81
73
83
144
162
219
238
227
282
441
435
497
OPM %
7%
9%
8%
10%
15%
17%
22%
18%
16%
17%
21%
20%
22%
Other Income
27
6
8
5
9
12
15
39
42
39
54
65
71
Interest
44
44
33
25
19
18
20
18
17
12
9
8
9
Depreciation
15
17
14
14
14
20
24
28
32
39
41
45
47
PBT
27
27
34
50
120
135
190
231
220
270
445
446
512
Tax %
35%
38%
33%
34%
32%
36%
34%
28%
24%
25%
26%
24%
—
Net Profit
18
16
22
33
82
86
126
167
166
203
331
338
388
EPS in Rs
7.64
7.08
9.66
14.26
35.14
37.03
54.21
71.96
71.51
87.5
143
146
167
Div. Payout %
0%
0%
10%
14%
28%
27%
18%
14%
14%
11%
8%
8%
—
Figures in ₹ Crores

Balance Sheet

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
23
23
23
23
23
23
23
23
23
23
23
23
Reserves
545
562
1,231
1,269
1,349
1,380
1,540
1,688
1,833
2,022
2,349
2,633
Borrowings
368
315
312
171
149
147
138
182
141
0
0
16
Other Liabilities
105
119
87
107
125
128
167
240
218
279
310
339
Total Liabilities
1,042
1,020
1,653
1,570
1,646
1,679
1,868
2,133
2,214
2,324
2,682
3,011
Fixed Assets
649
648
1,231
1,226
1,238
1,279
1,329
1,341
1,467
1,450
1,442
1,578
CWIP
11
5
8
10
11
20
11
96
10
2
39
26
Investments
1
1
29
36
120
116
226
274
393
363
643
698
Other Assets
381
366
386
298
277
264
302
423
344
508
557
710
Total Assets
1,042
1,020
1,653
1,570
1,646
1,679
1,868
2,133
2,214
2,324
2,682
3,011
Figures in ₹ Crores

Cash Flow

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
91
101
77
134
141
99
199
172
218
172
330
275
Investing
-20
-5
-12
-5
-101
-44
-126
-141
-168
46
-275
-208
Financing
-107
-96
-40
-172
-49
-64
-36
6
-89
-169
-52
-60
Net Cash Flow
-36
0
25
-43
-8
-9
38
37
-39
48
2
8
Free Cash Flow
63
92
61
124
115
45
139
64
152
156
276
114
CFO/OP
165
131
117
174
116
79
109
90
117
84
100
83
Figures in ₹ Crores

Ratios

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
20
17
26
17
22
21
16
9
8
8
7
9
Inventory Days
93
111
90
82
70
100
128
145
109
132
116
149
Days Payable
30
36
39
54
68
62
89
76
57
73
55
69
Cash Conversion Cycle
82
91
77
44
24
58
54
79
60
67
68
89
Working Capital Days
-58
-58
-65
17
5
17
9
8
7
36
28
146
ROCE %
7%
8%
5%
5%
9%
10%
13%
13%
12%
14%
21%
18%

Shareholding Pattern

As of Jun 2026
Promoters 60.72%
Public 20.74%
Others 7.97%
DIIs 6.35%
FIIs 4.22%
Total 100.00%
  Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters
60.72%
60.72%
60.72%
60.72%
60.72%
60.72%
60.72%
60.72%
60.72%
60.72%
60.72%
60.72%
60.72%
60.72%
60.72%
60.72%
60.72%
60.72%
60.72%
60.72%
60.72%
60.72%
FIIs
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.13%
0.11%
0.31%
0.52%
1.56%
2.69%
3.50%
3.85%
3.58%
3.96%
3.98%
4.22%
DIIs
3.88%
3.67%
3.20%
3.20%
3.20%
3.13%
2.03%
2.40%
2.19%
2.36%
3.50%
3.78%
4.22%
4.76%
4.48%
4.33%
4.75%
4.89%
4.96%
5.35%
5.27%
6.35%
Government
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
Public
29.22%
28.76%
29.12%
29.07%
28.84%
28.93%
29.63%
30.21%
30.21%
29.95%
27.88%
27.63%
26.92%
26.23%
24.55%
23.78%
22.31%
22.08%
22.00%
21.56%
21.41%
20.74%
Others
6.18%
6.85%
6.96%
7.02%
7.25%
7.23%
7.62%
6.68%
6.88%
6.98%
7.77%
7.76%
7.84%
7.77%
8.69%
8.49%
8.72%
8.46%
8.75%
8.42%
8.62%
7.97%
No. of Shareholders
21,560
25,949
29,412
30,599
30,837
31,086
31,173
31,924
32,022
31,580
30,410
38,092
39,316
42,191
50,963
55,518
57,364
54,335
57,619
55,544
54,492
56,759

Documents

Frequently Asked Questions about Garware Hi Tech Films Ltd

What does Garware Hi Tech Films Ltd do?
Garware Polyester is the world's No.1 vertically integrated ''Chip to Film'' manufacturing company.[1]
Where is Garware Hi Tech Films Ltd (GRWRHITECH) listed?
Garware Hi Tech Films Ltd is listed on the Indian stock exchanges. It is listed on NSE: GRWRHITECH and BSE: 500655. You can view its live share price, financials, and ratios on Tapetide.
Which sector does Garware Hi Tech Films Ltd belong to?
Garware Hi Tech Films Ltd operates in the Industrial Products sector within the Plastic Products - Industrial industry. Sector classification helps investors compare companies affected by similar economic conditions and regulatory changes.
What is the market capitalisation of Garware Hi Tech Films Ltd?
Garware Hi Tech Films Ltd has a market capitalisation of approximately ₹16287.07 Cr. Based on this, it is classified as a Mid Cap stock.
What is the PE ratio of Garware Hi Tech Films Ltd?
The Price-to-Earnings (PE) ratio of Garware Hi Tech Films Ltd is 42.53. The PE ratio compares a company's share price to its earnings per share and is commonly used to assess whether a stock is overvalued or undervalued relative to its peers.
What is the 52-week high and low of Garware Hi Tech Films Ltd?
Over the past 52 weeks, Garware Hi Tech Films Ltd has traded between a low of ₹2,681 and a high of ₹7,990. This range helps investors understand the stock's price volatility and recent trading levels.
Does Garware Hi Tech Films Ltd pay dividends?
Yes, Garware Hi Tech Films Ltd has a dividend yield of 0.17%. Dividend yield indicates the annual dividend income relative to the share price. A consistent dividend history can signal financial stability.
What is the Return on Equity (ROE) of Garware Hi Tech Films Ltd?
Garware Hi Tech Films Ltd has a Return on Equity (ROE) of 13.96%. ROE measures how effectively a company uses shareholders' equity to generate profits. A higher ROE generally indicates better capital efficiency.
How can I research Garware Hi Tech Films Ltd on Tapetide?
On Tapetide, you can view Garware Hi Tech Films Ltd's live share price, quarterly results, profit & loss statements, balance sheet, cash flow, key ratios, shareholding pattern, technical indicators, analyst ratings, and forecasts — all on a single page without needing to sign up.

Company Information

Garware Polyester is the world's No.1 vertically integrated ''Chip to Film'' manufacturing company.[1]

Website garwarehitechfilms.com
CEO Dr. Shashikant Bhalchandra Garware
Employees 947
Listed 1994-01-03
Face Value ₹ 10
Issued Size 2,32,32,394

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