Garware Hi-Tech Films reported revenue of INR459 crores for Q3 FY26, a slight decrease of 1.6% year-over-year, primarily due to tariff disruptions in the export market. Despite tariff headwinds, EBITDA stood at INR86.7 crores with a margin of 18.9%. The company is establishing a new subsidiary in UAE to manage trading and exports across the MENA region.
Financial Performance
Garware Hi-Tech Films announced its unaudited financial results for Q3 FY26. Key highlights include:
- Revenue: Stood at INR459 crores, a 1.6% decrease compared to INR466 crores in Q3 FY25.
- EBITDA: Reached INR86.7 crores, down from INR93.7 crores in Q3 FY25, a 7.4% decline.
- EBITDA Margin: Was 18.9%, a decrease of 118 bps year-on-year.
- PBT: Came in at INR73 crores, down 9.8% year-on-year.
- PAT: Was INR55.8 crores compared to INR60.8 crores in Q3 FY25.
Nine-Month Performance
For the nine months of FY26, the company reported:
- Revenue: INR1,523 crores, a marginal decrease of 2.4% year-on-year.
- EBITDA: INR343 crores, down 8.3% year-on-year.
Strategic Initiatives
The company is undertaking several strategic initiatives to drive growth and improve market presence:
- Establishing a wholly-owned subsidiary in UAE to manage trading and exports in the MENA region.
- Expanding the Garware Application Studio network, targeting over 300 studios by the end of FY26.
- Ramping up the recently doubled paint protection film capacity to 600 LSF.
- Launching Garware Home Solutions, a new D2C business vertical.
Future Outlook
Despite short-term challenges, Garware Hi-Tech Films maintains a strong financial foundation and steady cash flow generation. New capacity additions and a focus on value-added products are expected to enhance revenue visibility and profitability in the coming years. The upcoming TPU manufacturing line, commissioned by October 2026, will further strengthen backward integration and innovation capabilities.
Source: BSE
