Garware Hi-Tech Films Ltd.

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garwarehitechfilms.comBSE: 500655NSE: GRWRHITECH

Market Cap₹ 16,097 Cr.

Current Price

High / Low₹ 7,990 / 2,691

Stock P/E41.5

Book Value₹ 1,200

Price to Book2.96

Dividend Yield0.17 %

ROCE18.1 %

ROE13.5 %

Face Value₹ 10

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ABOUT

AI Sector View

AI GENERATED

Capital Goods

Buy

Capital goods is supported by strong public capex and still-expansionary industrial activity. Capital expenditure rose 66% YoY (2026-06), GST collections grew 8% YoY (2026-07), and the core industries Overall Index increased 5.4% YoY (2026-07). E-way bills slowed to 6% YoY (2026-07) and sector FPI flows show INR -9697 crore net outflow over 3 months to 2026-08-31, but the investment cycle and fiscal impulse remain favorable.

Confidence

72%

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PROS

Company has delivered good profit growth of 21.8% CAGR over last 5 years
Company is almost debt free
Company has consistently been profitable over the last 5 years
Latest quarter profit grew 59.8% YoY, showing strong momentum
Company has delivered good sales growth of 16.5% CAGR over last 5 years

CONS

Receivables are growing faster than sales - a possible quality concern
Valuation is stretched - P/E of 41.5 is well above its own 5-year median (23.2)
Though reporting repeated profits, the company pays out little dividend (8.2%)

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

Capital GoodsPlastic ProductsPlastic Products

Part ofNIFTY MICROCAP250 NIFTY TOTAL MKT

S.No.	Name
1.	SUPREMEIND	3367.00	41.43	42769.95	1.07	280.72	38.76	2717.66	4.16	21.49	17.33
2.	ASTRAL	1410.10	65.83	37882.36	0.28	120.20	51.77	1578.00	15.93	19.95	14.65
3.	GRWRHITECH	6928.55	41.50	16096.68	0.17	132.65	59.78	633.08	27.90	18.08	27.17
4.	SHAILY	3279.80	85.33	15085.52	0.09	48.01	16.75	280.67	13.77	29.46	29.59
5.	FINPIPE	153.55	15.48	9527.42	1.79	114.52	16.67	883.58	-15.30	12.73	12.09
6.	TIMETECHNO	180.90	18.23	8929.86	0.83	1178.60	1120.71	16927.10	1151.40	17.37	13.25
7.	KINGFA	6197.25	37.21	8398.13	0.00	80.21	101.58	688.57	49.06	30.70	16.12
8.	RESPONIND	173.35	45.62	4621.66	0.06	2.74	-94.51	192.87	-43.06	10.76	12.09
9.	POLYPLEX	1135.00	22.94	3563.04	0.26	171.07	386.02	2253.62	29.62	1.51	13.15
10.	NILKAMAL	2054.70	24.60	3066.13	0.97	24.40	59.20	819.73	-7.18	10.76	9.44
11.	XPROINDIA	1294.90	93.05	3039.18	0.15	7.63	239.10	174.42	20.37	4.00	9.08
12.	PRINCEPIPE	266.40	28.84	2945.35	0.38	337.49	6900.41	6094.18	949.97	6.20	12.66

Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	380	397	454	447	474	621	466	548	495	570	459	597	633
	316	332	379	368	356	484	385	443	385	450	388	461	476
Operating Profit	64	65	75	78	119	137	81	104	110	119	70	135	157
OPM %	16.81%	16.34%	16.56%	17.51%	25.00%	22.05%	17.40%	19.06%	22.14%	20.97%	15.32%	22.70%	24.76%
	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
Profit before Tax	59	61	73	78	118	138	81	109	110	120	73	142	176
Tax %	25.39%	24.32%	23.41%	25.95%	24.82%	24.51%	24.94%	28.51%	24.75%	24.22%	23.72%	24.00%	24.83%
Net Profit	0	0	0	0	88	104	61	78	83	91	56	108	133
	18.81	19.76	24.05	24.88	38.03	44.88	26.17	33.49	35.73	39.27	24.01	46.58	57.10

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	874	833	948	925	989	1,303	1,438	1,677	2,109	2,120	2,258
	801	750	804	763	771	1,065	1,211	1,395	1,668	1,685	1,776
Operating Profit	73	83	144	162	218	238	227	282	441	435	482
OPM %	8.33%	10.00%	15.20%	17.48%	22.04%	18.28%	15.80%	16.81%	20.91%	20.50%	21.34%
	10	6	9	12	16	39	42	39	54	65	71
Interest	35	26	19	19	20	18	17	12	9	8	9
Depreciation	14	14	14	20	24	28	32	39	41	45	47
Profit before Tax	34	50	120	135	190	231	220	270	445	446	512
Tax %	33.15%	33.53%	31.89%	36.15%	33.74%	27.65%	24.46%	24.78%	25.65%	24.20%	24.30%
Net Profit	22	33	82	86	126	167	166	203	331	338	388
EPS	9.66	14.26	35.14	37.03	54.21	71.96	71.51	87.51	142.58	145.60	—
Dividend Payout %	10.35%	14.03%	28.45%	27.01%	18.45%	13.90%	13.98%	11.43%	8.42%	8.24%	—

COMPOUNDED SALES GROWTH

10 Years:: 9%
5 Years:: 16%
3 Years:: 14%

COMPOUNDED PROFIT GROWTH

10 Years:: 35%
5 Years:: 22%
3 Years:: 27%

STOCK PRICE CAGR

10 Years:: —
5 Years:: —
3 Years:: 77%
1 Year:: 106%

RETURN ON EQUITY

10 Years:: 8%
5 Years:: 12%
3 Years:: 13%
Last Year:: 13%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	23	23	23	23	23	23	23	23	23	23
	1,231	1,269	1,349	1,380	1,540	1,688	1,833	2,022	2,349	2,633
	312	172	153	162	153	202	157	20	10	9
Trade Payables	49	63	83	65	86	110	104	160	148	181
	-24	-16	-9	23	66	111	98	99	152	164
Total Liabilities	1,591	1,511	1,599	1,654	1,868	2,133	2,214	2,324	2,682	3,010
	1,231	1,226	1,238	1,279	1,329	1,341	1,467	1,450	1,442	1,577
Capital Work in Progress	8	10	11	19	11	96	10	2	38	26
	29	36	120	116	226	274	393	363	643	698
	113	95	85	105	124	210	199	290	309	389
	0	0	0	0	0	0	0	38	42	53
Cash & Bank	86	46	43	32	70	108	70	113	120	155
	126	98	102	104	108	104	75	68	86	112
Total Assets	1,591	1,511	1,599	1,654	1,868	2,133	2,214	2,324	2,682	3,010

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	85	145	167	127	238	214	265	172	330	275
Cash from Investing	-12	-5	-101	-44	-126	-141	-170	47	-274	-208
Cash from Financing	-40	-172	-49	-64	-36	6	-89	-169	-52	-60
	25	-43	-8	-9	38	37	-41	50	3	8

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026

Shareholding Pattern

Numbers in percentages

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	60.72	60.72	60.72	60.72	60.72	60.72	60.72	60.72	60.72
	0.51	1.55	2.68	3.49	3.85	3.57	3.95	3.97	4.21
	4.76	4.48	4.33	4.75	4.89	4.96	5.35	5.28	6.35
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	34.00	33.24	32.27	31.03	30.54	30.75	29.98	30.03	28.71

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

2026-09-01

Copy of Newspaper Publication

2026-09-01 - Garware Hi-Tech Films Limited has informed the Exchange about Copy of Newspaper Publication containing information w.r.t Notice of 69th Annual General Meeting and e-Voting

2026-08-31

Record Date

2026-08-31 - Garware Hi-Tech Films Limited has informed the Exchange that Record date for the purpose of Dividend is 16-Sep-2026.

2026-08-31

Shareholders meeting

2026-08-31 - Garware Hi-Tech Films Limited has informed the Exchange regarding Notice of 69th Annual General Meeting of the Company to be held on September 23, 2026.

2026-08-27

Copy of Newspaper Publication

2026-08-27 - Garware Hi-Tech Films Limited has informed the Exchange about Newspaper Publication Regarding Tax Deduction At Source (TDS) / Withholding Tax On Dividend Pertaining to FY 2025 - 2026

2026-08-26

General Updates

2026-08-26 - Communication to Shareholders - Intimation on Tax Deduction on Dividend

2026-08-14

General Updates

2026-08-14 - Intimation to the shareholders holding shares in physical mode, to furnish KYC details

2026-08-14

Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-14 - Garware Hi-Tech Films Limited has informed the Exchange about Schedule of meet

2026-08-11

Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-11 - Garware Hi-Tech Films Limited has informed the Exchange about Transcript

2026-08-07

Copy of Newspaper Publication

2026-08-07 - Garware Hi-Tech Films Limited has informed the Exchange about Copy of Newspaper Publication

News

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