Garware Hi-Tech Films Limited announced a strong performance for the second quarter of FY27, achieving its highest-ever quarterly revenue of INR696 crore, a 22% year-on-year increase. EBITDA grew 42% to INR189 crore with a margin of 27.2%, and profit after tax also rose 42%. The company has upgraded its FY27 EBITDA margin guidance to 27% +/- 2%.
Garware Hi-Tech Films Achieves Record Quarterly Performance
Garware Hi-Tech Films Limited has reported exceptional financial results for the second quarter and first half of fiscal year 2027 (Q2 FY27 and H1 FY27). The company achieved its highest-ever quarterly revenue of INR696 crore in Q2 FY27, marking a 22% increase year-on-year and a 10% sequential rise. EBITDA for the quarter surged by 42% year-on-year to INR189 crore, with a healthy EBITDA margin of 27.2%. Profit after tax also saw a substantial 42% growth, reaching INR129 crore.
H1 FY27 Performance Highlights
For the first half of FY27 (H1 FY27), Garware Hi-Tech Films posted a revenue of INR1,329 crore, up 25% from the previous year. EBITDA for H1 FY27 grew by 49% to INR381 crore, and profit after tax increased by 50% to INR262 crore. Profit before tax recorded a 51% rise, reaching INR350 crore, with a PBT margin expansion of 464 basis points to 26.30%. Cash profit grew by 46% to INR293 crore.
Strategic Growth Initiatives and Capacity Expansion
The company’s revenue mix for H1 FY27 comprised 73% from CPD (Consumer Products Division) and 27% from IPD (Industrial Products Division), with value-added products constituting 86% of revenue. Garware Hi-Tech Films continues to focus on building a premium, technology-led material science business, advancing capabilities in switchable privacy films (PDLC) and introducing new products like Ultra Series window film kits. The commissioning of its thermoplastic polyurethane (TPU) film line is on track for Q3 FY27, supported by a strategic MOU with Lubrizol. Additionally, a solar control film capacity expansion, focused on robotics and automation, is progressing, with commercial production expected in H1 FY28, adding approximately 1,200 lakh square feet of fungible capacity.
International Business and Distribution Network
The international business remains a key growth driver, serving customers in over 90 countries. During Q2 FY27, the company expanded its global application studio network by opening two new studios in the United States, bringing the total to 14. The network of global distributors was also strengthened with the addition of four new partners. The Garware Home Solutions business is expanding its studio network, planning to add 12 studios in Q3, with a long-term target of 50 studios by December 2027.
Upgraded Guidance and Future Outlook
Reflecting its confidence in its performance, Garware Hi-Tech Films has upgraded its FY27 EBITDA margin guidance by 200 basis points to 27% +/- 2%, while reaffirming its revenue target of more than INR2,500 crore. The company emphasized its commitment to disciplined execution and prudent capital allocation to deliver sustainable, long-term value.
Source: BSE
