Garware Hi-Tech Films Limited has announced its Q1 FY27 results, marking the strongest quarter in the company’s history. Revenues surged to INR 633 crore, a 28% year-on-year increase. EBITDA grew by 56% to INR 192 crore, with margins expanding to a record 30.30%. Profit after tax also saw a significant 60% jump to INR 133 crore.
Garware Hi-Tech Films Achieves Record Q1 Performance
Garware Hi-Tech Films Limited today announced its financial results for the first quarter of Fiscal Year 2027 (Q1 FY27), reporting its best-ever quarterly performance. The company achieved record revenues, EBITDA, profit before tax, and profit after tax, underscoring its strategic transformation into a global technology-driven specialty film company.
Key Financial Highlights for Q1 FY27
The company’s revenue from operations stood at INR 633 crore, marking a substantial 28% year-on-year growth. Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) increased by 56% to INR 192 crore. Notably, the EBITDA margin expanded by 544 basis points to an all-time high of 30.30%, crossing the significant 30% milestone for the first time.
Profit before tax grew by 60% year-on-year to INR 176 crore, while profit after tax also rose by 60% to INR 133 crore. Profit After Tax (PAT) margins expanded by approximately 420 basis points to 21%, reflecting the company’s improved operational capabilities and the strength of its specialty-led business model.
Operational and Strategic Updates
The company highlighted healthy demand across its key specialty segments, particularly Sun Control Films and Paint Protection Films. Innovation remains central to Garware’s strategy, with the launch of a detailing kit for its GAS network and the continued traction of its specialty portfolio including TPU-based UV printable films and PDLC specialty films.
Garware is expanding its global application studio network, with 14 international studios now operational across the Middle East and the United States. In India, the Garware Application Studios network has grown to over 250 locations. The company is on track to expand its Home Solutions network to 50 studios by the end of FY27.
Manufacturing side projects are progressing as planned, with the TPU project set for commissioning in Q3 FY27 and a new state-of-the-art sun control film manufacturing line expected to commence production in H1 FY28. The company also noted the DGTR’s recommendation for an anti-dumping duty on TPU-based paint protection film imports from China, which is expected to create a more level playing field.
Future Outlook and Guidance
Garware Hi-Tech Films reaffirmed its guidance of achieving over INR 2,500 crore in revenue for FY27, while maintaining an EBITDA margin in the range of 25% plus/minus 2%. The company targets a 15% to 20% revenue CAGR over the medium term, driven by capacity expansion, value-added products, and direct-to-consumer platform growth.
Source: BSE
