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Prices as of 8 Oct 2026 close · Not investment advice

Garware Hi-Tech Films Limited

NSE: GRWRHITECHPlastic Products - Industrial

Share price

₹6,929.00

+0.37% close of 8 Oct 2026

Market cap ₹15,937 CrP/E 41.1

Business score

How strong the business is, in one number. The parts behind it are in Pro.

60

out of 100 · worked out 8 Oct 2026

Your ratios

The numbers you want to see first. Tap Edit to change them.

Market cap

₹15,937 Cr

P/E ratio

41.1

P/B ratio

6.1

ROCE

18.1%

ROE

13.4%

Dividend yield

0.2%

Price & valuation chart

How the share price and its valuation have moved. Hover over the chart to see any day. Prices as of the last close.

Prices as of 8 Oct 2026 close52-week high ₹7,409.5052-week low ₹2,704.50

Answers

Simple answers to the questions investors ask most, from the company's own numbers.

How fast it has been growing

Sales grew 6.0% over the past year, and 6.5% a year over its longer record. Meanwhile what it keeps of every 100 rupees of sales improved from 17.7% to 21.5% over the last four years.

Whether it grew faster than its sector

It grew 6.5% a year against a sector median of 10.6% — 4.2 percentage points slower.

Room to re-rate, or risk of de-rating

At 41.1× earnings it costs 1.7× the market, which pays 23.9× across 2199 companies we can price. Its own industry sits at 41.9×, across 5 companies. It is against its own five-year median of 21.2×, the 94th percentile of its own range.

Whether growth justifies the valuation

Priced at 1.5 times its growth rate, on earnings growth of 27%.

Profit growthPrice per ₹1 profitPer 1% growth
Garware Hi-Tech Films Limited — this one27%/yr41.1×₹1.5
Supreme Industries Limited3%/yr41.9×₹14.0
Astral Limited6%/yr64.2×₹10.7
Finolex Industries Limited33%/yr15.1×₹0.46
Kingfa Science & Technology (India) Limited32%/yr42.3×₹1.3
Time Technoplast Limited28%/yr18.0×₹0.64

Compared with companies filed under the same label. That grouping comes from the exchange's filing category, so some of them may not be real rivals.

How it compares with its peers

Against companies the exchange files under the same label (Plastic Products - Industrial), it ranks 9 of 24 on returns, 14 of 22 on growth, 4 of 24 on margin. That grouping comes from the exchange's filing category, so some of them may not be real rivals.

What makes it hard to beat — and is that still true?

A narrow advantage: it earns 18.1% on capital, ahead of 63% of companies filed under the same label. That grouping comes from the exchange's filing category, so some of them may not be real rivals.

Whether its growth pays for itself

Yes — Over the last five years it made ₹1167 crore of cash from the business, spent ₹406 crore on plant and equipment, and returned ₹364 crore to lenders and shareholders. And the profit is real: of every 100 rupees it reported over 12 years, about 127 arrived as cash (before interest, which is why it can exceed the profit). Its cash comes back more slowly than it used to: it went from being waiting 8 days for its cash to waiting 40 days for its cash.

Profit reality check

Is the profit real cash? Simple checks on the accounts. Facts only, not advice.

8 of 9 checks clear · 89%

Latest result · Q1 FY27

What the last results showed. Whether management kept its word is in Pro.

Revenue up 28% and profit up 60%, with the ₹2,500 crore full-year target reaffirmed

Announced 6 Aug 2026 · Consolidated · Unaudited

Revenue

₹633 Cr

Revenue vs last year

+27.9%

Revenue vs last quarter

+6.0%

Net profit

₹133 Cr

Profit vs last year

+59.8%

Profit vs last quarter

+22.8%

Net margin

21.0%

EPS

₹57.10

Earnings call transcript · 7 Aug 2026

Checklist before you investPRO

Points for and against, in one list.

Key numbers & peers

The main numbers grouped by topic, and how the company compares with similar ones.

Price

Market cap
₹15,937 Cr
Prev close
₹6,929.00
52w High
₹7,990
52w Low
₹2,691
Enterprise value
₹15,941 Cr
Beta
1.7
Price CAGR 1y
135.0%
Price CAGR 3y
66.0%
Price CAGR 5y
50.0%
Price CAGR 10y
47.0%

Ratios

Return on assets
11.2%
PEG ratio
1.5
P/E ratio
41.1
P/B ratio
6.1
EV / EBITDA
37.0
Industry P/E
23.1
ROCE
18.1%
ROCE 5y average
15.6%
ROE
13.4%
Debt / Equity
0.0
Interest coverage
56.8
Dividend yield
0.2%
ROE 3y average
13.0%
ROE last year
13.0%

Annual P&L

Annual revenue
₹2,120 Cr
Annual profit
₹338 Cr
Operating margin
21.0%
Net profit margin
15.9%
EBITDA margin
20.5%
Sales growth 3y
13.8%
Sales growth 5y
16.5%
Profit growth 3y
27.0%
Profit growth 5y
22.0%
EPS
₹146
Sales growth TTM
6.0%
Profit growth TTM
19.0%
Dividend payout
8.0%

Quarter P&L

Sales latest quarter
₹633 Cr
Profit latest quarter
₹133 Cr
YoY quarterly sales growth
27.9%
YoY quarterly profit growth
60.2%
OPM latest quarter
27.2%

Balance Sheet

Book Value
₹1,155
Face Value
₹10.0
Total debt
₹0 Cr
Total cash
₹155 Cr
Borrowings
₹0 Cr
Reserves / Equity
114.5

Cash Flow

Operating cash flow
₹275 Cr
Free cash flow
₹114 Cr
FCF yield
0.7%
Net cash flow
₹16 Cr

Shareholding

Promoter holding
60.7%
FII holding
4.2%
DII holding
6.3%
Public holding
28.7%

Peer comparison

CompanyPrice ₹P/EMkt cap ₹ CrDiv yield %Profit qtr ₹ CrProfit var %Sales qtr ₹ CrSales var %ROCE %
Supreme Inds.3,550.0043.745,0951.01280.738.82,717.74.220.7
Astral1,427.7064.838,3550.28120.248.21,578.015.919.2
Garware Hi Tech6,903.5041.416,0380.17132.759.8633.127.918.1
Finolex Inds.153.9115.59,5501.30114.516.7883.6-15.311.8
Kingfa Science6,932.5041.69,3940.2980.2101.6688.649.123.2
Time Technoplast183.6218.59,0640.82117.922.21,692.725.116.5
Prince Pipes256.6527.22,8380.3933.8600.2609.45.06.0
Median183.6222.33110.005.322.2101.116.314.9

Competes with: Apollo Pipes Limited, Astral Limited, Bright Brothers Limited, Captain Polyplast Limited, Dhabriya Polywood Limited, Finolex Industries Limited, Hindustan Adhesives Limited, Jai Corp Limited, Jain Irrigation Systems Limited, Jain Irrigation Systems Limited, Kingfa Science & Technology (India) Limited, Kriti Industries (India) Limited, Manika Plastech Limited, Prakash Pipes Limited, Premier Polyfilm Limited, Prince Pipes And Fittings Limited, R M Drip and Sprinklers Systems Limited, Shaily Engineering Plastics Limited, Sri KPR Industries Limited, Supreme Industries Limited, Tainwala Chemical and Plastic (I) Limited, Texmo Pipes and Products Limited, Tijaria Polypipes Limited, Time Technoplast Limited

Quarterly results

Sales and profit for each of the last 13 quarters. Newest on the right. ₹ crore.

Consolidated · to 30 Jun 2026
Line itemJun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales380397454447474621466548495570459597633
Expenses316332379368356484385443385450388461461
Material Cost253240249237303301
Change in Inventories9.83-3422-25-35-47
Purchases of Stock-in-Trade000000
Employee Cost494847495053
Other Expenses132131133128143154
Operating Profit646575781191378110411011970135172
OPM %17161718252217192221152327
Other Income99912111412171314162120
Exceptional items (within Other Income)000000
Interest4422222222222
Depreciation10101010101010101111121213
Profit before tax596173781181388110911012073142176
Tax %25242326252525292524242425
Net Profit44465658881046178839156108133
EPS in Rs19202425384526333639244757
Diluted EPS in Rs333639244757

Profit & loss

Yearly sales, costs and profit for 12 years, plus the last 12 months (TTM). ₹ crore.

Consolidated · to 31 Mar 2026
Line itemMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales8968578748339489259891,3031,4381,6772,1092,1202,258
Expenses8367768017508047637701,0651,2111,3951,6681,6851,761
Material Cost9821,029
Change in Inventories-7.94-73
Purchases of Stock-in-Trade00
Employee Cost178194
Other Expenses516535
Operating Profit60817383144162219238227282441435497
OPM %79810151722181617212122
Other Income2768591215394239546571
Exceptional items (within Other Income)00
Interest444433251918201817128.788.209
Depreciation15171414142024283239414547
Profit before tax27273450120135190231220270445446512
Tax %353833343236342824252624
Net Profit181622338286126167166203331338388
EPS in Rs7.647.089.6614353754727288143146167
Diluted EPS in Rs143146
Dividend Payout %00101428271814141188

Compounded growth

Average yearly growth over different spans, as stored. A span can cross a demerger or an acquisition.

Compounded sales growth

10 years
9%
5 years
16%
3 years
14%
TTM
6%

Compounded profit growth

10 years
36%
5 years
22%
3 years
27%
TTM
19%

Stock price CAGR

10 years
47%
5 years
50%
3 years
66%
1 year
135%

Return on equity

10 years
9%
5 years
12%
3 years
13%
Last year
13%

Balance sheet

What the company owns and what it owes, at the end of each year. ₹ crore.

Consolidated
Line itemMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital232323232323232323232323
Reserves5455621,2311,2691,3491,3801,5401,6881,8332,0222,3492,633
Borrowings368315312171149147138182141000
Other Liabilities10511987107125128167240218279310354
Minority Interest0
Total Liabilities1,0421,0201,6531,5701,6461,6791,8682,1332,2142,3242,6823,010
Fixed Assets6496481,2311,2261,2381,2791,3291,3411,4671,4501,4421,577
CWIP115810112011961023927
Investments112936120116226274393363643698
Other Assets381366386298277264302423344508557709
Total Assets1,0421,0201,6531,5701,6461,6791,8682,1332,2142,3242,6823,011

Cash flows

Real money coming in and going out each year — from the business, from investments and from loans. ₹ crore.

Consolidated
Line itemMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity911017713414199199172218172330275
Cash from Investing Activity-20-5-12-5-101-44-126-141-16846-275-200
Cash from Financing Activity-107-96-40-172-49-64-366-89-169-52-60
Net Cash Flow-36025-43-8-93837-3948216
Free Cash Flow6392611241154513964152156276114

Ratios

How fast customers pay, how long stock sits, and how well capital earns — year by year.

Consolidated
Line itemMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days2017261722211698879
Inventory Days93111908270100128145109132116149
Days Payable303639546862897657735569
Cash Conversion Cycle829177442458547960676889
Working Capital Days-58-58-6517517987362840
ROCE %7855910131312142118

Shareholding pattern

Who owns the company — founders (promoters), foreign funds, Indian funds and the public. In %.

Consolidated · to 30 Jun 2026
Line itemSep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters616161616161616161616161
FIIs0.140.120.310.521.562.693.503.863.583.963.984.22
DIIs3.493.774.214.764.484.334.754.894.965.355.286.35
Public363535343332313131303029
No. of Shareholders30,41038,09239,31642,19150,96355,51857,36454,33557,61955,54454,49256,759

Price trend

The price as a Renko brick chart: small moves drop out so the bigger path stands out.

Change over 1 year +134.8% (₹2,950.80 → ₹6,929.00)Brick size ₹282.01 (fixed)Bricks 26
₹4,000₹6,000₹6,929Nov '25Mar '26Aug '26
Price moved up one brickPrice moved down one brickLast close ₹6,929.00 on 8 Oct 2026

Every brick is the same size, about one typical day's move. A new brick needs a full brick's move; turning the other way needs two. Bricks show where the price went, not where it will go.

Open interestPRO

Where option traders are positioned on this stock.

Industry numbers

The numbers that matter most in this industry, from the company's own filings.

1 when an audit qualification is filed as repetitive

0.00flag

2026-03-31

the company's own unlisted debt securities in default at period end

0.00cr

2026-06-30

exports as % of revenue

75.00

the company's own loans / revolving facilities in default at period end (standalone filing)

0.00cr

2026-06-30

guarantees / comfort given for promoter, promoter group, directors and KMP

0.00cr

2026-03-31

loans outstanding to promoter, promoter group, directors and KMP (governance filing)

0.00cr

2026-03-31

security given for the borrowing of promoter, promoter group, directors and KMP

0.00cr

2026-03-31

FY revenue / permanent employees + workers, same basis (calc)

1,87,98,842inr

2026-03-31

News

News and filings about Garware Hi-Tech Films Limited. Open one to see why it matters.

No recent news for this company.

Supply chain

Who it buys from, sells to and competes with — as recorded in our map of company links.

Competes with

Uses as raw material

  • Monoethylene glycol (MEG)
  • Polyester (PET) chips / PET resin
  • Polypropylene
  • Purified terephthalic acid (PTA)
  • Thermoplastic polyurethane (TPU)

Sells to

  • Brook & Whittle Ltd. · polyester/BOPET label and packaging films
  • Etiquetas CCL S.A. de C.V. · polyester/BOPET label films
  • Global Hi-Tech Films Inc. · sun control film & paint protection film (US distribution subsidiary)
  • Nobelus · paint protection film
  • XPEL Inc. · paint protection film / sun control film (self-adhesive)

About

What the company is, from our own records: where it sits, where it makes things, and what it is made of.

Sector
Capital Goods
Industry
Plastic Products - Industrial
Classification
Capital Goods › Plastic Products - Industrial
ISIN
INE291A01017

Plants

  • Ambad Works · Nashik, Maharashtra
  • Chikalthana Works · Chhatrapati Sambhaji Nagar (Aurangabad), Maharashtra
  • Waluj Works · Chhatrapati Sambhaji Nagar (Aurangabad), Maharashtra

News impact

Big market events that reach Garware Hi-Tech Films Limited, and how the effect spreads.

Who it hits first

  • Captain Polyplast (CPL) won an MSEDCL order to design, make, supply, install, test and commission off-grid solar water pumps for Maharashtra farmers — fresh order backlog, though no value, quantity or timeline was disclosed.
  • MSEDCL, the Maharashtra state power distributor (unlisted), is the buyer, so there is no listed-company impact on the buyer side.

Who may gain

  • Captain Polyplast alone gains assured business from this tender; pipe peers Astral, Supreme Industries, Time Technoplast and Garware Hi-Tech Films missed this order but the size is too small to hurt their far larger sales.

Along the supply chain

Downstream

Maharashtra farmers receive solar pumps that cut diesel and grid-power pumping costs; no listed downstream company is affected.

Upstream

CPL will buy more solar panels, pump sets, pipes and fittings to execute the order — a small demand lift for its component suppliers.

Where demand moves

Business

MSEDCL's solar-pump demand flows to Captain Polyplast instead of rival bidders; component demand (panels, pumps, pipes) rises mildly for CPL's unnamed suppliers.

Capital

Small speculative buying may lift micro-cap CPL on the news; far too small to pull money out of large pipe peers, so no sector rotation.

How it spreads across sectors

Capital Goods

Negligible at sector level — a single small order for a micro-cap does not move the sector.

Power

Off-grid solar pumps marginally slow farm power-demand growth for distributors over time, but this order's scale is tiny; mildly positive for the distributed-solar theme with no thermal displacement.

Commodity angle

Cc skip reason

no_commodity_link

A pattern seen before

Cascade chain

  • MSEDCL orders off-grid DC solar pumps from Captain Polyplast for Maharashtra farmers
  • Distributed-solar demand signal mildly positive for solar EPC and pump makers; order scale undisclosed so read-through is limited
  • No thermal-power displacement at this scale — incremental off-grid capacity for farm use

Pattern name

Energy Transition Cascade

Sectors queried

  • Capital Goods
  • Power

When it plays out

Immediate

CPL likely opens firm on the order news within 1-7 days; thin trading (~Rs 76 lakh/day) can exaggerate the move both ways; peers flat.

Medium term

Over 1-6 months installation progress, order margins and any repeat MSEDCL tenders decide whether gains hold.

Short term

Over 1-4 weeks follow-through depends on the company disclosing the order value — without numbers the early pop typically fades, as past contract wins show.

Dividends, splits & big trades

Money paid out, share splits and buybacks, and big buys or sells by funds and insiders.

Dividends

16 Sep 2026unspecified₹12
17 Sep 2025unspecified₹12
17 Sep 2024unspecified₹10
20 Sep 2023unspecified₹10
19 Sep 2022unspecified₹10

Splits, bonuses & buybacks

  • daily-prices repair: 8 rows from NSE's archive (replace 2, delete 1, insert 5), 2023-11-12..2026-02-01 (docs/flat_day_repair.md)1× · 12 Nov 2023
  • bse-history fill: 1504 BSE bars before cutoff, code 500655, seam residual 1.00051× · 3 Feb 2022

Documents

Annual reports, results presentations and earnings calls, straight from the source.

Facts from company filings and exchange data. Not investment advice: nothing here tells you to buy or sell.