About
Garware Hi-Tech Films Limited manufactures and sells polyester films in India, the United States, and internationally. The company offers paint protection and sun control films. It also offers defendo-dual reflective, spectrally selective, deco vista, safety, designer, privacy, reflective, IR rejection, writable, antigraffity, and whiteboard films, as well as HP films. In addition, the company provides lidding, liner release, metallized, lamination, packaging, shrink, thermal, heat sealable, graphic, and electrical films, as well as insulation and low oligomer films. Its products are used in automobiles, buildings, label, electric motor insulation and cable insulation, sealed compressors motors, sequin application films, TV and LCD screen, packaging, and other applications. The company was formerly known as Garware Polyester Limited and changed its name to Garware Hi-Tech Films Limited in April 2021. Garware Hi-Tech Films Limited was founded in 1933 and is based in Mumbai, India.
Key Metrics
as of Sep 2026Market Cap16,459 Cr
P/E42.40
Div Yield0.17 %
Book Value₹1,143.00
52w High₹7,990.00
52w Low₹2,691.00
Face Value₹10.00
Quarterly Results
Rs. Crores · hover row for definition| Metric | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 | Jun 2024 | Mar 2024 | Dec 2023 | Sep 2023 | Jun 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 633.00 | 597.00 | 459.00 | 570.00 | 495.00 | 548.00 | 466.00 | 621.00 | 474.00 | 447.00 | 454.00 | 397.00 | 380.00 |
| Expenses | 461.00 | 461.00 | 388.00 | 450.00 | 385.00 | 443.00 | 385.00 | 484.00 | 356.00 | 368.00 | 379.00 | 332.00 | 316.00 |
| Operating Profit | 172.00 | 135.00 | 70.00 | 119.00 | 110.00 | 104.00 | 81.00 | 137.00 | 119.00 | 78.00 | 75.00 | 65.00 | 64.00 |
| OPM % | 27.00 | 23.00 | 15.00 | 21.00 | 22.00 | 19.00 | 17.00 | 22.00 | 25.00 | 18.00 | 17.00 | 16.00 | 17.00 |
| Other Income | 20.00 | 21.00 | 16.00 | 14.00 | 13.00 | 17.00 | 12.00 | 14.00 | 11.00 | 12.00 | 9.00 | 9.00 | 9.00 |
| Depreciation | 13.00 | 12.00 | 12.00 | 11.00 | 11.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 |
| Interest | 2.00 | 2.00 | 2.00 | 2.00 | 2.00 | 2.00 | 2.00 | 2.00 | 2.00 | 2.00 | 2.00 | 4.00 | 4.00 |
| Profit before tax | 176.00 | 142.00 | 73.00 | 120.00 | 110.00 | 109.00 | 81.00 | 138.00 | 118.00 | 78.00 | 73.00 | 61.00 | 59.00 |
| Tax % | 25.00 | 24.00 | 24.00 | 24.00 | 25.00 | 29.00 | 25.00 | 25.00 | 25.00 | 26.00 | 23.00 | 24.00 | 25.00 |
| Net Profit | 133.00 | 108.00 | 56.00 | 91.00 | 83.00 | 78.00 | 61.00 | 104.00 | 88.00 | 58.00 | 56.00 | 46.00 | 44.00 |
| EPS in Rs | 57.10 | 46.58 | 24.01 | 39.27 | 35.73 | 33.49 | 26.17 | 44.88 | 38.03 | 24.88 | 24.05 | 19.76 | 18.81 |
Profit & Loss
Annual · Rs. Crores| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 | Mar 2016 | Mar 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 2,120.00 | 2,109.00 | 1,677.00 | 1,438.00 | 1,303.00 | 989.00 | 925.00 | 948.00 | 833.00 | 874.00 | 857.00 | 896.00 |
| Expenses | 1,685.00 | 1,668.00 | 1,395.00 | 1,211.00 | 1,065.00 | 770.00 | 763.00 | 804.00 | 750.00 | 801.00 | 776.00 | 836.00 |
| Operating Profit | 435.00 | 441.00 | 282.00 | 227.00 | 238.00 | 219.00 | 162.00 | 144.00 | 83.00 | 73.00 | 81.00 | 60.00 |
| OPM % | 21.00 | 21.00 | 17.00 | 16.00 | 18.00 | 22.00 | 17.00 | 15.00 | 10.00 | 8.00 | 9.00 | 7.00 |
| Other Income | 65.00 | 54.00 | 39.00 | 42.00 | 39.00 | 15.00 | 12.00 | 9.00 | 5.00 | 8.00 | 6.00 | 27.00 |
| Interest | 8.00 | 9.00 | 12.00 | 17.00 | 18.00 | 20.00 | 18.00 | 19.00 | 25.00 | 33.00 | 44.00 | 44.00 |
| Depreciation | 45.00 | 41.00 | 39.00 | 32.00 | 28.00 | 24.00 | 20.00 | 14.00 | 14.00 | 14.00 | 17.00 | 15.00 |
| Profit before tax | 446.00 | 445.00 | 270.00 | 220.00 | 231.00 | 190.00 | 135.00 | 120.00 | 50.00 | 34.00 | 27.00 | 27.00 |
| Tax % | 24.00 | 26.00 | 25.00 | 24.00 | 28.00 | 34.00 | 36.00 | 32.00 | 34.00 | 33.00 | 38.00 | 35.00 |
| Net Profit | 338.00 | 331.00 | 203.00 | 166.00 | 167.00 | 126.00 | 86.00 | 82.00 | 33.00 | 22.00 | 16.00 | 18.00 |
| EPS in Rs | 145.59 | 142.57 | 87.50 | 71.51 | 71.96 | 54.21 | 37.03 | 35.14 | 14.26 | 9.66 | 7.08 | 7.64 |
| Dividend Payout % | 8.00 | 8.00 | 11.00 | 14.00 | 14.00 | 18.00 | 27.00 | 28.00 | 14.00 | 10.00 | 0.00 | 0.00 |
Balance Sheet
Annual · Rs. Crores — latest first| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 | Mar 2016 | Mar 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 23.00 | 23.00 | 23.00 | 23.00 | 23.00 | 23.00 | 23.00 | 23.00 | 23.00 | 23.00 | 23.00 | 23.00 |
| Reserves | 2,633.00 | 2,349.00 | 2,022.00 | 1,833.00 | 1,688.00 | 1,540.00 | 1,380.00 | 1,349.00 | 1,269.00 | 1,231.00 | 562.00 | 545.00 |
| Borrowings | 0.00 | 0.00 | 0.00 | 141.00 | 182.00 | 138.00 | 147.00 | 149.00 | 171.00 | 312.00 | 315.00 | 368.00 |
| Other Liabilities | 354.00 | 310.00 | 279.00 | 218.00 | 240.00 | 167.00 | 128.00 | 125.00 | 107.00 | 87.00 | 119.00 | 105.00 |
| Total Liabilities | 3,010.00 | 2,682.00 | 2,324.00 | 2,214.00 | 2,133.00 | 1,868.00 | 1,679.00 | 1,646.00 | 1,570.00 | 1,653.00 | 1,020.00 | 1,042.00 |
| Fixed Assets | 1,577.00 | 1,442.00 | 1,450.00 | 1,467.00 | 1,341.00 | 1,329.00 | 1,279.00 | 1,238.00 | 1,226.00 | 1,231.00 | 648.00 | 649.00 |
| CWIP | 27.00 | 39.00 | 2.00 | 10.00 | 96.00 | 11.00 | 20.00 | 11.00 | 10.00 | 8.00 | 5.00 | 11.00 |
| Investments | 698.00 | 643.00 | 363.00 | 393.00 | 274.00 | 226.00 | 116.00 | 120.00 | 36.00 | 29.00 | 1.00 | 1.00 |
| Other Assets | 709.00 | 557.00 | 508.00 | 344.00 | 423.00 | 302.00 | 264.00 | 277.00 | 298.00 | 386.00 | 366.00 | 381.00 |
| Total Assets | 3,010.00 | 2,682.00 | 2,324.00 | 2,214.00 | 2,133.00 | 1,868.00 | 1,679.00 | 1,646.00 | 1,570.00 | 1,653.00 | 1,020.00 | 1,042.00 |
Cash Flows
Annual · Rs. Crores — latest first| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 | Mar 2016 | Mar 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity | 275.00 | 330.00 | 172.00 | 218.00 | 172.00 | 199.00 | 99.00 | 141.00 | 134.00 | 77.00 | 101.00 | 91.00 |
| Cash from Investing Activity | -200.00 | -275.00 | 46.00 | -168.00 | -141.00 | -126.00 | -44.00 | -101.00 | -5.00 | -12.00 | -5.00 | -20.00 |
| Cash from Financing Activity | -60.00 | -52.00 | -169.00 | -89.00 | 6.00 | -36.00 | -64.00 | -49.00 | -172.00 | -40.00 | -96.00 | -107.00 |
| Net Cash Flow | 16.00 | 2.00 | 48.00 | -39.00 | 37.00 | 38.00 | -9.00 | -8.00 | -43.00 | 25.00 | 0.00 | -36.00 |
| Free Cash Flow | 114.00 | 276.00 | 156.00 | 152.00 | 64.00 | 139.00 | 45.00 | 115.00 | 124.00 | 61.00 | 92.00 | 63.00 |
| CFO/OP % | 83.00 | 100.00 | 84.00 | 117.00 | 90.00 | 109.00 | 79.00 | 116.00 | 174.00 | 117.00 | 131.00 | 165.00 |
Ratios
Annual · Days / % — latest first| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 | Mar 2016 | Mar 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 9.00 | 7.00 | 8.00 | 8.00 | 9.00 | 16.00 | 21.00 | 22.00 | 17.00 | 26.00 | 17.00 | 20.00 |
| Inventory Days | 149.00 | 116.00 | 132.00 | 109.00 | 145.00 | 128.00 | 100.00 | 70.00 | 82.00 | 90.00 | 111.00 | 93.00 |
| Days Payable | 69.00 | 55.00 | 73.00 | 57.00 | 76.00 | 89.00 | 62.00 | 68.00 | 54.00 | 39.00 | 36.00 | 30.00 |
| Cash Conversion Cycle | 89.00 | 68.00 | 67.00 | 60.00 | 79.00 | 54.00 | 58.00 | 24.00 | 44.00 | 77.00 | 91.00 | 82.00 |
| Working Capital Days | 40.00 | 28.00 | 36.00 | 7.00 | 8.00 | 9.00 | 17.00 | 5.00 | 17.00 | -65.00 | -58.00 | -58.00 |
| ROCE % | 18.00 | 21.00 | 14.00 | 12.00 | 13.00 | 13.00 | 10.00 | 9.00 | 5.00 | 5.00 | 8.00 | 7.00 |
Corporate Actions
18 records| Action | Ex Date | Record Date | Ratio | Amount (₹) | Notes |
|---|---|---|---|---|---|
| Dividend | 17 Sep 2025 | 17 Sep 2025 | — | 12.00 | |
| Dividend | 17 Sep 2024 | 17 Sep 2024 | — | 10.00 | |
| Other | 17 Sep 2024 | — | — | — | Annual General Meeting |
| Dividend | 20 Sep 2023 | 20 Sep 2023 | — | 10.00 | |
| Other | 20 Sep 2023 | — | — | — | Annual General Meeting |
| Dividend | 19 Sep 2022 | 20 Sep 2022 | — | 10.00 | |
| Other | 19 Sep 2022 | — | — | — | Annual General Meeting |
| Dividend | 20 Sep 2021 | 21 Sep 2021 | — | 10.00 | |
| Dividend | 23 Mar 2020 | 24 Mar 2020 | — | 10.00 | |
| Dividend | 16 Sep 2019 | — | — | 10.00 | |
| Dividend | 12 Sep 2018 | — | — | 2.00 | |
| Dividend | 14 Sep 2017 | — | — | 1.00 | |
| Dividend | 23 Aug 2012 | — | — | 1.50 | |
| Dividend | 16 Dec 2011 | — | — | 7.00 | |
| Dividend | 16 Dec 2011 | — | — | 1.50 | |
| Dividend | 18 Nov 2010 | 19 Nov 2010 | — | 1.50 | |
| Dividend | 16 Sep 2010 | — | — | 1.50 | |
| Dividend | 16 Dec 2009 | — | — | 1.00 |
Announcements
5 filingsShareholding Pattern
Open on BSEFinancial Results — Filings
Open on BSEBoard Filings
Open on BSEAnnual Reports
Credit Ratings
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Rating update7 Jul from care
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Rating update7 Jul 2025 from care
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Rating update4 Jul 2024 from care
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Rating update4 Jul 2023 from care
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Rating update7 Jul 2022 from care
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Rating update6 Jul 2021 from care