Garware Hi-Tech Films Limited (GHFL) has signed a Memorandum of Understanding (MoU) with Lubrizol to collaborate on the development and manufacturing of advanced TPU-based film solutions in India. This partnership aims to leverage Lubrizol’s TPU technology and GHFL’s manufacturing expertise to create new specialty film applications, including premium Paint Protection Films (PPF), supporting the ‘Make in India’ initiative and potentially enhancing GHFL’s market position.
Strategic Collaboration on Advanced Films
Garware Hi-Tech Films Limited (GHFL), a leading specialty films manufacturer, announced the signing of a Memorandum of Understanding (MoU) with Lubrizol, a global leader in specialty chemicals. This collaboration focuses on developing and manufacturing advanced TPU-based film solutions in India. The partnership aims to combine Lubrizol’s world-class Thermoplastic Polyurethane (TPU) technology and material science expertise with GHFL’s engineering and manufacturing capabilities.
Expanding Product Portfolio and Market Reach
The collaboration is set to create opportunities across various high-value specialty applications, including automotive, architectural, industrial, and electronics sectors. This initiative is expected to accelerate product development, prototyping, and commercialization, enabling GHFL to respond more effectively to evolving customer requirements. A significant investment of approximately ₹118 crore is earmarked for new product development and technology capabilities within this platform, highlighting a strategic focus on future growth.
Strengthening PPF Business and Backward Integration
A key objective of the MoU is to enable GHFL to backward integrate a critical input for its premium Paint Protection Film (PPF) business. This facility is anticipated to be India’s first dedicated TPU extrusion platform for premium PPF, supporting an expansion of PPF manufacturing capacity to over 600 LSF. In-house TPU extrusion is expected to enhance control over critical inputs, improve product consistency, manufacturing efficiency, and supply-chain resilience, reducing dependence on imported TPU films. This strategic move is projected to strengthen the economics of the PPF business and support an incremental improvement in EBITDA margins by 150-200 basis points.
Commitment to Innovation and ‘Make in India’
The partnership aligns with the Government of India’s ‘Make in India’ objective by fostering advanced material processing and specialty film manufacturing capabilities domestically. Ms. Monika Garware, Joint Managing Director & Vice Chairperson, GHFL, stated that this association is a significant milestone towards building a globally competitive, technology-led specialty films business. Mr. Deepak Joshi, Director – Sales & Marketing, GHFL, added that the projected operational readiness by December 2026 marks a substantial step in strengthening the company’s value-added portfolio and driving future innovation.
Source: BSE
