Garware Hi-Tech Films Limited (GHFL) announced record-breaking financial results for the quarter and half year ended September 30, 2026. Revenue from operations reached an all-time high of ₹696 crore in Q2 FY27, a 22% YoY increase. The company also raised its FY27 EBITDA guidance to 27% ±2%, driven by strong performance and improved margins.
Garware Hi-Tech Films Reports Strong Q2 FY27 Performance
Garware Hi-Tech Films Limited (GHFL) has reported robust financial results for the second quarter and first half of FY27, with significant growth across key financial metrics. The company announced its unaudited financial results for the quarter and half year ended September 30, 2026.
Record Revenue and Margin Expansion
In the second quarter of FY27 (Q2 FY27), GHFL achieved a record revenue from operations of ₹696 crore, marking a substantial 22% year-on-year growth and a 10% sequential growth from Q1 FY27. This performance was attributed to robust demand and improved realisations. The company also saw a significant expansion in its EBITDA margin, which increased by 377 basis points to 27.2% in Q2 FY27, up from 23.4% in Q2 FY26. This margin improvement was driven by operating leverage and a favourable product mix.
Robust Earnings Growth and Raised Guidance
Profit After Tax (PAT) in Q2 FY27 rose by 42% year-on-year to ₹129 crore, with the PAT margin expanding to 18.6% from 16.0% in the previous year’s quarter. For the first half of FY27 (H1 FY27), revenue stood at ₹1,329 crore, a 25% increase over H1 FY26. The EBITDA margin for H1 FY27 was 28.7%. Reflecting confidence in its performance, GHFL has raised its FY27 EBITDA guidance to 27% ±2%, reaffirming its FY27 revenue target of over ₹2,500 crore.
Strategic Initiatives and Future Outlook
The company also highlighted its strategic partnerships, including a Memorandum of Understanding with Lubrizol for advanced TPU-based film solutions, and expansion into new product verticals like PDLC films for smart architecture. Capacity expansions, such as the TPU line commissioning expected in Q3 FY27 and the SCF line in H1 FY28, are underway to address emerging market opportunities. GHFL’s strong liquidity position, with cash and cash equivalents at ₹933 crore as of September 30, 2026, and a disciplined working capital management further underpin its growth strategy.
Source: BSE
