Garware Hi-Tech Films Ltd.

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garwarehitechfilms.comBSE: 500655NSE: GRWRHITECH

Market Cap₹ 15,695 Cr.

Current Price

High / Low₹ 7,990 / 2,691

Stock P/E40.6

Book Value₹ 1,168

Price to Book3.04

Dividend Yield0.18 %

ROCE18.0 %

ROE13.7 %

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%

View full sector analysis →

PROS

Company has delivered good profit growth of 23.0% CAGR over last 5 years
Company is almost debt free
Latest quarter profit grew 69.7% YoY, showing strong momentum
Company has delivered good sales growth of 15.2% CAGR over last 5 years
Company has a consistent dividend-paying track record
Company generates healthy free cash flow

CONS

Receivables are growing faster than sales - a possible quality concern
Valuation is stretched - P/E of 40.6 is well above its own 5-year median (23.5)
Though reporting repeated profits, the company pays out little dividend (8.3%)

* 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	3509.50	43.18	44580.08	1.03	280.72	38.76	2717.66	4.16	21.49	17.33
2.	ASTRAL	1471.15	68.67	39522.47	0.27	120.20	51.77	1578.00	15.93	19.95	14.65
3.	SHAILY	3445.35	89.63	15846.97	0.09	48.01	16.75	280.67	13.77	29.46	29.59
4.	GRWRHITECH	6755.75	40.47	15695.22	0.18	132.65	59.78	633.08	27.90	18.08	27.17
5.	FINPIPE	156.70	15.80	9722.87	1.75	114.52	16.67	883.58	-15.30	12.73	12.09
6.	TIMETECHNO	185.95	18.74	9179.15	0.81	1178.60	1120.71	16927.10	1151.40	17.37	13.25
7.	KINGFA	6167.55	37.03	8357.88	0.00	80.21	101.58	688.57	49.06	30.70	16.12
8.	RESPONIND	169.65	44.65	4523.01	0.06	2.74	-94.51	192.87	-43.06	10.76	12.09
9.	POLYPLEX	1139.35	23.03	3576.70	0.26	171.07	386.02	2253.62	29.62	1.51	13.15
10.	PRINCEPIPE	280.95	30.42	3106.21	0.36	337.49	6900.41	6094.18	949.97	6.20	12.66
11.	NILKAMAL	2054.30	24.59	3065.53	0.97	24.40	59.20	819.73	-7.18	10.76	9.44
12.	XPROINDIA	1300.85	93.48	3053.15	0.15	7.63	239.10	174.42	20.37	4.00	9.08

Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	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
	325	385	433	439	449	589	442	516	453	512	451	532	584
	283	323	363	362	333	464	364	416	356	411	385	408	432
Operating Profit	42	62	69	77	116	125	78	99	97	101	66	124	152
OPM %	12.90%	16.01%	16.02%	17.45%	25.84%	21.17%	17.66%	19.28%	21.34%	19.70%	14.65%	23.23%	26.05%
	10	9	9	11	28	13	19	15	14	43	17	23	16
Interest	4	3	2	1	1	2	2	2	1	1	1	2	2
Depreciation	10	10	10	9	10	10	10	10	10	11	11	12	12
Profit before Tax	38	58	67	77	132	127	85	103	99	132	70	133	168
Tax %	24.99%	24.31%	24.74%	24.47%	21.47%	24.35%	23.27%	28.58%	24.74%	19.25%	24.08%	24.68%	24.72%
Net Profit	29	44	51	58	104	96	66	74	75	107	53	100	127
	12.31	18.78	21.80	24.99	44.78	41.21	28.21	31.69	32.11	45.85	23.02	43.10	54.49

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	860	823	923	877	960	1,264	1,311	1,582	1,995	1,948	2,079
	790	740	790	734	753	1,036	1,109	1,332	1,577	1,560	1,636
Operating Profit	70	84	133	143	207	228	202	249	418	387	443
OPM %	8.19%	10.14%	14.42%	16.31%	21.57%	18.06%	15.43%	15.77%	20.95%	19.88%	21.29%
	10	6	9	26	16	40	40	39	76	97	98
Interest	35	25	19	18	18	17	15	10	6	5	6
Depreciation	13	13	14	20	24	28	32	38	40	44	46
Profit before Tax	33	51	110	130	181	223	196	240	448	434	503
Tax %	32.76%	33.58%	32.24%	33.26%	34.25%	28.03%	24.56%	24.59%	24.27%	22.95%	23.19%
Net Profit	22	34	74	87	119	160	148	181	339	335	387
EPS	9.41	14.53	32.00	37.42	51.09	68.96	63.53	77.89	145.90	144.09	—
Dividend Payout %	10.62%	13.76%	31.25%	26.72%	19.57%	14.50%	15.74%	12.84%	8.22%	8.33%	—

COMPOUNDED SALES GROWTH

10 Years:: 9%
5 Years:: 15%
3 Years:: 14%

COMPOUNDED PROFIT GROWTH

10 Years:: 34%
5 Years:: 23%
3 Years:: 31%

STOCK PRICE CAGR

10 Years:: —
5 Years:: —
3 Years:: 72%
1 Year:: 108%

RETURN ON EQUITY

10 Years:: 8%
5 Years:: 11%
3 Years:: 13%
Last Year:: 14%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	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
	1,230	1,268	1,341	1,372	1,524	1,665	1,790	1,955	2,288	2,564
	312	172	153	162	153	202	156	19	7	7
Trade Payables	48	63	83	65	86	109	104	160	146	181
	-25	-17	-10	17	64	106	104	99	156	159
Total Liabilities	1,589	1,509	1,590	1,639	1,851	2,104	2,178	2,257	2,620	2,933
	1,230	1,225	1,238	1,279	1,329	1,340	1,466	1,449	1,438	1,572
Capital Work in Progress	8	10	11	19	11	96	10	2	38	26
	30	37	122	117	227	275	394	364	645	699
	106	84	75	94	94	150	157	241	257	289
	0	0	0	0	0	0	0	123	142	194
Cash & Bank	76	31	24	19	37	43	30	19	29	74
	140	121	121	112	152	199	120	59	72	78
Total Assets	1,589	1,509	1,590	1,639	1,851	2,104	2,178	2,257	2,620	2,933

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	87	139	161	115	210	174	284	117	306	262
Cash from Investing	-11	-5	-101	-31	-126	-141	-170	45	-253	-181
Cash from Financing	-44	-171	-48	-63	-35	7	-87	-167	-49	-56
	25	-47	-12	-4	19	4	-14	-5	4	26

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	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

Recent coverage and analyst commentary for GRWRHITECH

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