Garware Hi-Tech Films has announced its unaudited financial results for the quarter and half-year ended September 30, 2026. The company reported a strong performance in Q2 and H1 FY27, driven by record quarterly revenue and significant growth in profitability. The H1 EBITDA margin stood at 28.7%, exceeding the company’s guidance range.
Garware Hi-Tech Films Reports Strong Q2 & H1 FY27 Financial Performance
Garware Hi-Tech Films Limited has released its unaudited financial results for the second quarter (Q2) and the first half (H1) of the financial year 2027 (FY27), ending September 30, 2026. The company highlighted a robust performance, marked by record quarterly revenue and substantial improvements in profitability.
Key Financial Highlights
The investor presentation reveals that for H1 FY27, the company achieved an EBITDA margin of 28.7%. This figure is noted to be well above the company’s previously issued guidance range of 23%-27%. Management attributes this strong margin performance to the company’s solid business model, a favorable product mix, ongoing operational efficiencies, and a dedicated focus on niche products.
For Q2 FY27, the financial performance continued the positive trend. The consolidated financial data shows significant year-on-year growth across key metrics. Specifically:
- Revenue increased to ₹696 Crore in Q2 FY27 from ₹570 Crore in Q2 FY26, with a margin of 27.2%.
- EBITDA rose to ₹189 Crore in Q2 FY27 from ₹133 Crore in Q2 FY26, with a margin of 42%.
- PBT reached ₹173 Crore in Q2 FY27 from ₹120 Crore in Q2 FY26, with a margin of 24.9%.
- PAT was reported at ₹129 Crore in Q2 FY27, up from ₹91 Crore in Q2 FY26, with a margin of 18.6%.
The first half of FY27 also demonstrated strong growth:
- Revenue stood at ₹1,329 Crore in H1 FY27, compared to ₹1,065 Crore in H1 FY26, with a margin of 28.7%.
- EBITDA grew to ₹381 Crore in H1 FY27 from ₹256 Crore in H1 FY26, with a margin of 49%.
- PBT increased to ₹350 Crore in H1 FY27 from ₹231 Crore in H1 FY26, with a margin of 26.3%.
- PAT was reported at ₹262 Crore in H1 FY27, up from ₹174 Crore in H1 FY26, with a margin of 19.7%.
Strategic Initiatives and Future Outlook
During the quarter, the company focused on strengthening customer engagement, expanding its distribution network, and advancing strategic initiatives in the automotive, architectural, and specialty films sectors. The upcoming operationalization of the TPU line in Q3 FY27 and ongoing capacity additions are expected to further enhance the company’s capabilities to address emerging market opportunities and support future growth phases.
Additionally, Garware Hi-Tech Films highlighted a strategic technology partnership with Lubrizol, involving an ₹118 Cr TPU extrusion platform investment. This partnership aims for backward integration, new product development, and an estimated 150-200 bps consolidated EBITDA margin improvement. The company is also entering the PDLC Films for Smart Architecture market, offering technology-led, high-value smart privacy solutions.
The company has also raised its FY27 EBITDA Margin Guidance to 27% ±2%, reaffirming its FY27 revenue target of ₹2,500 Cr+. The focus remains on scaling the Value Added Business (VAP) and unlocking new opportunities across various verticals including Sun Control Films, Paint Protection Films, Graphic Solutions, Garware Home Solutions, and TPU Products.
Source: BSE
