GARWARE HI-TECH FILMS LIMITED
₹6,983.30-₹27.35 (-0.4%)
Last close · Data as of Oct 30, 2026
- Market cap
- ₹6,982 Cr
- P/E
- 21.8x
- EV / EBITDA
- 23.9x
- Revenue
- ₹1,995 Cr
- Net margin
- 11.4%
- ROCE
- 12.6%
Price chart
Technical chartScreen technicals →+98.6% over the last year
Daily closes.
Go deeper
Technical chart: candles, 9 moving averages, RSI, MACD and drawing tools
Performance
Price change over each period, before dividends.
- 1M
- -0.3%
- 3M
- +1.4%
- 6M
- +75.4%
- 1Y
- +98.6%
- 5Y
- +657.5%
52-week range
Day change -₹27.35 (-0.4%) from ₹7,011 to ₹6,983 · Last close Oct 30, 2026
Best weekday to invest, historically
The same weekly amount in GRWRHITECH, bought on each weekday since 2021.
AI Summary
Indian StockStrengths1
- Strong 5-year net profit CAGR of 15.8%
Concerns1
- Low return on equity of 9.2%
Rule-based from financial data. Not advice.
About the company
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.
Read moreShow less
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.
- Sector
- Technology
- Shares outstanding
- 2.3 Cr shares
- ISIN
- INE291A01017
- BSE code
- 500655
Key statistics
Screen fundamentals →Valuation, profitability, growth and solvency at the latest close; hover a label for its meaning.
Valuation
- Market cap
- ₹6,982 Cr
- P/E
- 21.8x
- P/B
- 2.9x
- EV / EBITDA
- 23.9x
- EV / Sales
- 4.4x
- P/S
- 4.4x
- Earnings yield
- 4.6%
- 52-week high
- ₹7,412.40
- 52-week low
- ₹2,696.50
Profitability
- Operating margin
- 15.8%
- Net margin
- 11.4%
- EBITDA margin
- 18.3%
- ROE
- 9.2%
- ROCE
- 12.6%
- ROA
- 8.0%
- Dividend payout
- 13.0%
- Tax rate
- 25.0%
- Other income, % of PBT
- 16.3%
Growth
- RevenueLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- ₹1,995 Cr
- Revenue growth, 1YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 26.1%
- Revenue CAGR, 5YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 12.5%
- EBITDALatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- ₹289 Cr
- EBITDA growth, 1YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 19.4%
- Net profit growth, 1YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 87.3%
- Net profit CAGR, 5YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 15.8%
- Cash from operationsLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- ₹117 Cr
- CFO growth, 1YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- -51.9%
- Free cash flowLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- ₹4.00 Cr
- Asset growth, 1YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 3.6%
Solvency and efficiency
- Current ratio
- 2.89
- Debt / Equity
- 0.00
- Debt / Assets
- 0.00
- Interest coverage
- 25.00
- Financial leverage
- 1.14
- CFO / Net profit
- 0.65
- Cash / Market cap
- 6.3%
- Cash per share
- ₹190.36
- Asset turnover
- 0.70
- Fixed asset turnover
- 1.09
- Capital intensity
- 0.92
- Debtor days
- 28 days
- Inventory turnover
- 3.23
- Cash conversion cycle
- 66 days
Where the revenue went
Of every ₹100 of FY2025 revenue, ₹17 was left as net profit.
| From | To | Amount |
|---|---|---|
| Sales | Expenses | ₹1,577 Cr |
| Sales | Operating profit | ₹418 Cr |
| Operating profit | Interest | ₹6 Cr |
| Operating profit | Depreciation | ₹40 Cr |
| Operating profit | Profit before tax | ₹372 Cr |
| Other income | Profit before tax | ₹76 Cr |
| Profit before tax | Tax and other | ₹109 Cr |
| Profit before tax | Net profit | ₹339 Cr |
Revenue and net profit
Revenue grew 26.1% in FY2025; net profit is the dashed line.
| Date | Revenue | Net profit |
|---|---|---|
| FY2021 | ₹960 Cr | ₹119 Cr |
| FY2022 | ₹1,264 Cr | ₹160 Cr |
| FY2023 | ₹1,311 Cr | ₹148 Cr |
| FY2024 | ₹1,582 Cr | ₹181 Cr |
| FY2025 | ₹1,995 Cr | ₹339 Cr |
Cash flows
FY2025: ₹306 Cr from operations, ₹53.0 Cr free after investment (dashed).
| Date | Operating cash flow | Free cash flow |
|---|---|---|
| FY2021 | ₹179 Cr | ₹53 Cr |
| FY2022 | ₹138 Cr | -₹3 Cr |
| FY2023 | ₹243 Cr | ₹73 Cr |
| FY2024 | ₹117 Cr | ₹162 Cr |
| FY2025 | ₹306 Cr | ₹53 Cr |
Growth
Latest fiscal year FY2025 (ending March): each figure with its change over the year before.
- Revenue
- ₹1,995 Cr+26.1%1Y
- Net profit
- ₹339 Cr+87.3%1Y
- Cash from operations
- ₹306 Cr
- Free cash flow
- ₹53 Cr-67.3%1Y
- Revenue CAGR, 5Y
- 12.5%
- EBITDA CAGR, 5Y
- 11.5%
- Net profit CAGR, 5Y
- 15.8%
| Year | Revenue | Operating income | EBITDA | Net profit | CFO | FCF | ROE | Revenue growth 1Y | Net profit growth 1Y |
|---|---|---|---|---|---|---|---|---|---|
| FY2025 | ₹1,995 Cr | ₹418 Cr | — | ₹339 Cr | ₹306 Cr | ₹53 Cr | 14.7% | +26.1% | +87.3% |
Monthly returns
Month-by-month returns of GRWRHITECH across the years, with the seasonal pattern.
Balance sheet
What the company owns and owes at the end of FY2025.
| Line | FY2025 |
|---|---|
| Liabilities and equity | ₹2,620 Cr |
| Equity capital | ₹23 Cr |
| Reserves | ₹2,288 Cr |
| Borrowings | ₹0 Cr |
| Other liabilities | ₹309 Cr |
| Assets | ₹2,620 Cr |
| Fixed assets | ₹1,438 Cr |
| Capital work in progress | ₹39 Cr |
| Investments | ₹645 Cr |
| Other assets | ₹499 Cr |
Market cap against peers
8 peers: same sector group, nearest by size.
P/E against peers
GRWRHITECH trades at 21.8x earnings against a peer median of 52.1x (a 58% discount).
Not shown (no positive earnings and no EV / Sales): Tejas Networks Limited.
Peer comparison
Same-sector peers by market cap, with the median.
| Company | Market cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|
| GARWARE HI-TECH FILMS LIMITEDGRWRHITECHthis companyP/E ↓ discount | ₹6,982 Cr | 21.8x | 2.9x | 9.2% | 23.9x |
| RateGain Travel Technologies LimitedRATEGAIN | ₹7,819 Cr | 94.5x | 5.6x | 3.4% | 119.9x |
| Thyrocare Technologies LimitedTHYROCARE | ₹7,453 Cr | 62.0x | 14.4x | 13.8% | 52.5x |
| VA Tech Wabag LimitedWABAG | ₹7,383 Cr | 25.1x | 3.9x | 15.8% | 18.1x |
| Tejas Networks LimitedTEJASNET | ₹6,668 Cr | — | 2.0x | 2.6% | 21.5x |
| TANLA PLATFORMS LIMITEDTANLA | ₹6,599 Cr | 25.4x | 13.0x | 25.7% | 34.5x |
| Happiest Minds Technologies LimitedHAPPSTMNDS | ₹6,535 Cr | 31.9x | 4.2x | 16.7% | 16.6x |
| GARWARE TECHNICAL FIBRES LIMITEDGARFIBRES | ₹6,415 Cr | 32.7x | 5.0x | 16.2% | 21.3x |
| Mastek LimitedMASTEK | ₹6,301 Cr | 34.5x | 7.8x | 14.1% | 44.8x |
| Peer median | — | 52.1x | 7.8x | 14.5% | 34.2x |
Year-to-date ROI
GRWRHITECH since 1 January, against earlier years.
Historical volatility
GRWRHITECH's day-to-day swings over 30, 60 and 180 days.
Financial statements
Income statement, balance sheet and cash flow as reported, in ₹ crore, grouped into plain-language lines.
Figures in ₹ crore as reported, fiscal years ending March, newest first; the trailing twelve months (TTM) last.
Operating margin by fiscal year
| Date | Operating margin |
|---|---|
| FY2021 | 22.0% |
| FY2022 | 18.0% |
| FY2023 | 15.0% |
| FY2024 | 16.0% |
| FY2025 | 21.0% |
| Line | FY2025 |
|---|---|
| RevenueSales | ₹1,995 Cr |
| Costs | |
| Interest | ₹6 Cr |
| Expenses | ₹1,577 Cr |
| Operating profitOperating Profit | ₹418 Cr |
| Other income and charges | |
| Profit before tax | ₹448 Cr |
| Tax | |
| Net profitNet Profit | ₹339 Cr |
| Per share |
| Line | FY2025 |
|---|---|
| Liabilities and equityTotal Liabilities | ₹2,620 Cr |
| Equity capitalEquity Capital | ₹23 Cr |
| Reserves | ₹2,288 Cr |
| Borrowings | ₹0 Cr |
| Other liabilitiesOther Liabilities | ₹309 Cr |
| AssetsTotal Assets | ₹2,620 Cr |
| Fixed assetsFixed Assets | ₹1,438 Cr |
| Capital work in progressCWIP | ₹39 Cr |
| Investments | ₹645 Cr |
| Other assetsOther Assets | ₹499 Cr |
| Line | FY2025 |
|---|---|
| Operating cash flowCash from Operating Activity | ₹306 Cr |
| Investing cash flowCash from Investing Activity | -₹253 Cr |
| Financing cash flowCash from Financing Activity | -₹49 Cr |
| Change in cashNet Cash Flow | ₹4 Cr |
Learn while you research
Academy chapters picked for GARWARE HI-TECH FILMS LIMITED and the metrics on this page.
- 01 Taxes on Investments (India)LTCG, STCG, dividend tax, what every Indian investor needs.6 min read
- 02 Stock Valuation BasicsHow to think about what a fair price for a stock looks like.7 min read
- 03 Growth Investing26% revenue growth is in the top tier, learn how to value growth.7 min read
- 04 Stock Market RisksSmall caps carry concentrated, idiosyncratic risk, learn to manage it.6 min read
- 05 Essential Stock RatiosP/E, P/B, EV/EBITDA, what they mean and when to use each.7 min read
- 06 How to Read a Cash-Flow StatementProfit can be manipulated; cash flow rarely lies.7 min read