MarketFriction

Garware Hi Tech Films Ltd

NSE GRWRHITECH · BSE 500655 · Plastic Products - Industrial
₹6,925.50 -1.28%
NSE close2026-10-01
52 week range2,690.70 - 7,990.00
Market cap₹16,301 Cr.
P/E42.0
Microcap 250 Price band 20% Delivery 40.0%

Price

Drag to pan, scroll or pinch to zoom. Ruler (or Shift + drag) measures a move.Dashed lines: 52 week high and low. Prices adjusted for splits and bonuses.

Financials

Consolidated, Rs crore
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales397454447474621466548495570459597633
Expenses332379368356484385443385450388461461
Operating Profit6575781191378110411011970135172
OPM %16%17%18%25%22%17%19%22%21%15%23%27%
Other Income9912111412171314162120
Interest422222222222
Depreciation101010101010101111121213
Profit before tax6173781181388110911012073142176
Tax %24%23%26%25%25%25%29%25%24%24%24%25%
Net Profit465658881046178839156108133
EPS in Rs19.7624.0524.8838.0344.8826.1733.4935.7339.2724.0146.5857.10
Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales8578748339489259891,3031,4381,6772,1092,1202,258
Expenses7768017508047637701,0651,2111,3951,6681,6851,761
Operating Profit817383144162219238227282441435497
OPM %9%8%10%15%17%22%18%16%17%21%21%22%
Other Income68591215394239546571
Interest443325191820181712989
Depreciation171414142024283239414547
Profit before tax273450120135190231220270445446512
Tax %38%33%34%32%36%34%28%24%25%26%24%
Net Profit1622338286126167166203331338388
EPS in Rs7.089.6614.2635.1437.0354.2171.9671.5187.50142.57145.59166.96
Dividend Payout %0%10%14%28%27%18%14%14%11%8%8%
10 Years5 Years3 YearsTTM1 YearLast Year
Compounded Sales Growth9%16%14%6%
Compounded Profit Growth36%22%27%19%
Stock Price CAGR49%50%69%139%
Return on Equity9%12%13%13%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital232323232323232323232323
Reserves5455621,2311,2691,3491,3801,5401,6881,8332,0222,3492,633
Borrowings368315312171149147138182141000
Other Liabilities10511987107125128167240218279310354
Total Liabilities1,0421,0201,6531,5701,6461,6791,8682,1332,2142,3242,6823,010
Fixed Assets6496481,2311,2261,2381,2791,3291,3411,4671,4501,4421,577
CWIP115810112011961023927
Investments112936120116226274393363643698
Other Assets381366386298277264302423344508557709
Total Assets1,0421,0201,6531,5701,6461,6791,8682,1332,2142,3242,6823,010
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity911017713414199199172218172330275
Cash from Investing Activity-20-5-12-5-101-44-126-141-16846-275-200
Cash from Financing Activity-107-96-40-172-49-64-366-89-169-52-60
Net Cash Flow-36025-43-8-93837-3948216
Free Cash Flow6392611241154513964152156276114
CFO/OP165%131%117%174%116%79%109%90%117%84%100%83%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days2017261722211698879
Inventory Days93111908270100128145109132116149
Days Payable303639546862897657735569
Cash Conversion Cycle829177442458547960676889
Working Capital Days-58-58-6517517987362840
ROCE %7%8%5%5%9%10%13%13%12%14%21%18%
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters60.73%60.73%60.73%60.73%60.73%60.73%60.73%60.73%60.73%60.73%60.73%60.73%
FIIs0.14%0.12%0.31%0.52%1.56%2.69%3.50%3.86%3.58%3.96%3.98%4.22%
DIIs3.49%3.77%4.21%4.76%4.48%4.33%4.75%4.89%4.96%5.35%5.28%6.35%
Public35.65%35.38%34.75%34.00%33.25%32.27%31.03%30.53%30.74%29.98%30.04%28.72%
No. of Shareholders30,41038,09239,31642,19150,96355,51857,36454,33557,61955,54454,49256,759

Fundamentals

Market Cap₹ 16,301 Cr.
Current Price₹ 7,016
Stock P/E42.0
Book Value₹ 1,143
ROCE18.1 %
ROE13.5 %
Dividend Yield0.17 %
Face Value₹ 10.0
Compounded Sales Growth (TTM)6%
Compounded Profit Growth (TTM)19%
Consolidated figures.
Valuation
Market capRs 16,090 Cr
Enterprise valueRs 15,934 Cr
P/E (TTM)41.48x
Price to book6.06x
Price to sales7.12x
EV / EBITDA28.04x
EV / EBIT30.59x
EV / sales7.06x
Price to cash flow58.44x
Earnings yield2.41%
Dividend yield0.17%
P/E, 3-year average23.63x
P/B, 3-year average2.94x
P/E, 5-year average17.59x
P/B, 5-year average2.08x
Profitability
Operating margin (excl. other income)20.51%
Operating margin (incl. other income)23.56%
EBITDA margin25.17%
Pre-tax margin22.69%
Net profit margin17.18%
Net margin, latest quarter20.95%
ROE13.45%
ROCE18.08%
ROA11.88%
ROE, 3-year average12.96%
ROCE, 3-year average17.53%
ROA, 3-year average11.36%
ROE, 5-year average11.68%
ROCE, 5-year average15.73%
ROA, 5-year average10.02%
ROIC (approx.)15.79%
Tax rate24.20%
Other income / net worth2.44%
Growth
Sales growth (latest year)0.51%
Profit growth (latest year)2.12%
Sales CAGR, 3 years13.81%
Sales CAGR, 5 years16.47%
Profit CAGR, 3 years26.74%
Profit CAGR, 5 years21.84%
Sales growth QoQ6.10%
Profit growth QoQ22.59%
Sales growth YoY (latest quarter)27.90%
Profit growth YoY (latest quarter)59.78%
Per share
EPS (TTM)Rs 166.95
EPS (latest year)Rs 145.59
EPS (latest quarter)Rs 57.10
EPS, 3-year averageRs 125.22
EPS, 5-year averageRs 103.83
Book value per shareRs 1,143.30
Sales per shareRs 972.00
Cash flow per shareRs 118.51
Free cash flow per shareRs 49.07
Dividend per share (latest year)Rs 12.00
Dividend per share, 3-year averageRs 11.33
Dividend per share, 5-year averageRs 10.80
Dividends
Dividend payout8.24%
Dividend payout, 3-year average9.36%
Dividend payout, 5-year average11.19%
Efficiency
Asset turnover0.70x
Fixed asset turnover1.34x
Inventory turnover3.38x
Inventory days108 days
Debtor days9 days
Debtors turnover39.94x
Creditor days69 days
Cash conversion cycle89 days
Working capital days40 days
Leverage
Cash and bankRs 155 Cr
Net debtRs -155 Cr
Net debt / EBITDA-0.27x
Interest coverage60.58x
Current ratio (filing 2026-03-31)4.43x
Quick ratio (filing 2026-03-31)3.10x
Trade payables (filing 2026-03-31)Rs 181 Cr
Owners' fund to total sources88.24%
Cash flow
Cash from Operating Activity (latest year)Rs 275 Cr
Cash from Investing Activity (latest year)Rs -200 Cr
Cash from Financing Activity (latest year)Rs -60 Cr
Net Cash Flow (latest year)Rs 16 Cr
Free cash flow (latest year)Rs 114 Cr
Cash from ops / profit, 5 years0.97x
Sales to cash flow7.70x
Statement figures
Net sales (TTM)Rs 2,258 Cr
Net sales (latest year)Rs 2,120 Cr
Sales (latest quarter)Rs 633 Cr
Operating profit excl. other income (latest year)Rs 435 Cr
Operating profit (latest quarter)Rs 172 Cr
Other income (TTM)Rs 71 Cr
EBITDA (TTM)Rs 568 Cr
PBDT (TTM)Rs 560 Cr
Profit before tax (TTM)Rs 512 Cr
Tax (latest year)Rs 108 Cr
Net profit (TTM)Rs 388 Cr
Net profit (latest year)Rs 338 Cr
Net profit (latest quarter)Rs 133 Cr
Depreciation (TTM)Rs 47 Cr
Depreciation (latest quarter)Rs 13 Cr
Interest (TTM)Rs 9 Cr
Cost of goods sold (latest year)Rs 1,314 Cr
Total expenditure (latest year)Rs 1,685 Cr
Total income (latest year)Rs 2,185 Cr
Share capitalRs 23 Cr
ReservesRs 2,633 Cr
Shareholders' fundsRs 2,656 Cr
Total assetsRs 3,010 Cr
Net blockRs 1,577 Cr
Capital work in progressRs 27 Cr
InvestmentsRs 698 Cr
ReceivablesRs 53 Cr
InventoryRs 389 Cr
Other liabilitiesRs 354 Cr
Shares outstanding (crore)2.32
Ownership
Promoter holding60.73% (+0.00 in a year)
Computed by MarketFriction from the consolidated statements. Returns use average balances.
P/E 41.5 is at the 90th percentile of its own 9.4-year range (median 16.2, low 4.1, high 57.2).
P/B 6.06 is at the 96th percentile (median 1.04).
Monthly. Market cap from split-adjusted price; profit and book value as reported by that month. A low percentile means cheap versus its own history, not cheap versus peers.
PeriodGRWRHITECHNifty 50Difference
1 week+9.2%-2.8% +12.0 pts
1 month-3.9%-6.8% +2.9 pts
3 months+0.7%-7.6% +8.4 pts
6 months+104.8%+0.4% +104.3 pts
1 year+122.5%-9.9% +132.4 pts
2 years+111.1%-13.6% +124.6 pts
3 years+373.6%+14.2% +359.5 pts
5 years+646.2%+27.9% +618.3 pts
39 mutual fund schemes hold about ₹824 Cr. Over three months 10 bought more and 13 sold (share counts, price move removed).
FundWeightEst. Cr3m shares
Mahindra Manulife Small Cap Fund2.91%159 +19%
JM Flexi Cap Fund1.82%95 -11%
LIC MF Multi Cap Fund3.91%88 +0%
Motilal Oswal Active Momentum Fund4.71%54 -6%
JM Small Cap Fund4.63%43 -17%
LIC MF Small Cap Fund4.86%40 -2%
HSBC India Export Opportunities Fund2.94%39 -12%
LIC MF Infra Fund3.26%38 -4%
LIC MF Dividend Yield Fund4.26%32 +0%
LIC MF Dividend Yield Fund4.26%31 +0%
Motilal Oswal Manufacturing Fund4.01%28 +100%
LIC MF Manufacturing Fund3.21%25 -2%
JM Mid Cap Fund1.25%17 -29%
Motilal Oswal Nifty Microcap 250 Index Fund0.65%16 -1%
LIC MF Multi Asset Allocation Fund1.26%13 +2%
LIC MF Midcap Fund3.10%12 +9%
Motilal Oswal Contra Fund2.66%12 +4%
Union Active Momentum Fund1.90%10 +100%
LIC MF ULIS Regular Premium Uniform Cover Yrly 15Y2.24%10 -21%
LIC MF Aggressive Hybrid Fund1.75%10 +100%
LIC MF Value Fund2.97%9 -11%
LIC MF Value Fund2.97%8 -11%
LIC MF Focused Fund4.13%7 +5%
LIC MF Focused Fund4.13%7 +5%
ITI Balanced Advantage Fund1.96%7 -14%

Red flags

F-score 4 of 8
lookRegulator order or action Regulator order or action 2026-03-31: Garware Hi-Tech Films Limited has informed the Exchange about the Notice of demand issued by Income Tax Department.
Checks on the latest reported years: cash vs profit, accruals, receivables and inventory vs sales, dilution, debt, interest cover, equity, other income, losses, and auditor, top-management, insolvency and regulator filings in the last 12 months. A flag asks for an explanation; it is not a verdict.

Latest quarter

Jun 2026
Sales ₹633 Cr +27.9% vs Jun 2025. Net profit ₹133 Cr +60.2%.

Activity

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No bulk or block deals on record.
Ex-dateActionFactor
2026-09-16Dividend - Rs 12 Per Share
2025-09-17Dividend - Rs 12 Per Share
2024-09-17Dividend - Rs 10 Per Share
2024-09-17Annual General Meeting
2023-09-20Dividend - Rs 10 Per Share
2023-09-20Annual General Meeting
2022-09-19Dividend - Rs 10 Per Share
2022-09-19Annual General Meeting
DateTypeWhat it says
2026-09-24Shareholder meetingVoting results.
2026-09-24Concall / analyst meetSchedule of Analyst / Institutional Investor Meeting
2026-09-23Shareholder meetingProceedings of Annual General Meeting held on September 23, 2026
2026-09-23Press ReleaseA press release dated September 23, 2026, titled "Press Release - Garware Hi-Tech Films and Lubrizol sign MoU to collaborate on advanced TPU-based fi...
2026-08-31Record DateRecord date for the purpose of Dividend is 16-Sep-2026.
2026-08-31Shareholder meetingNotice of 69th Annual General Meeting of the Company to be held on September 23, 2026.
2026-08-26General UpdatesCommunication to Shareholders - Intimation on Tax Deduction on Dividend
2026-08-14General UpdatesIntimation to the shareholders holding shares in physical mode, to furnish KYC details
2026-08-14Concall / analyst meetSchedule of meet
2026-08-11Concall / analyst meetTranscript
2026-08-07Concall / analyst meetAudio Link for Earning Conference Call on Un-Audited Financial Results.
2026-08-06AppointmentAppointment of Mr Prashant L. Pai as Chief Financial Officer of the company w.e.f. August 06, 2026.
2026-08-06Record DateRecord date for the purpose of Dividend & Annual General Meeting is 16-Sep-2026.
2026-08-06General UpdatesAnnual General Meeting of the Company will be held on September 23, 2026 at 11:30 A.M. at Registered office of the Company.
2026-08-06Investor PresentationInvestor Presentation
2026-08-06Press ReleaseA press release dated August 06, 2026, titled "Press Release on the financial results for the quarter ended June 30, 2026".
2026-08-06Board meeting outcomeGarware Hi-Tech Films Limited has submitted to the Exchange, outcome of the Board Meeting along with financial results for the period ended Jun 30, 20...
2026-08-03Concall / analyst meetEarnings Conference Call on Unaudited Financial Results / Business Performance of the Company for the Quarter Ended June 30, 2026
2026-07-28General UpdatesSpecimen copy of reminder letter sent to the shareholders to claim their Dividend/Equity Shares for FY 2018-19 onwards
2026-07-10DemiseDemise of Mrs Sarita Garware Ramsay, Joint Managing Director of the company on July 09, 2026.
2026-07-07Credit RatingCredit Rating
2026-07-01Credit RatingCredit Rating
2026-06-24CessationCessation of Ms Devanshi H. Nanavati as Non- Executive Independent Director of the company w.e.f. Jun 24, 2026, on completion of second term.
2026-06-24AppointmentAppointment of Ms Sonali Rajesh Mehta as Non- Executive Independent Director of the Company w.e.f. Jun 25, 2026.
2026-06-24AppointmentRe-appointment of Ms Monika Garware as Vice Chairperson and Jt. Managing Director of the company w.e.f. November 01, 2026.
Company filings to NSE, newest first. Routine notices (trading window, newspaper copies) are left out. Click a row for the filing.
No short selling reported to NSE in our files.
Short sales disclosed by brokers to NSE, by trade date. Collected since late September 2026.
Close to Close price movement greater than 100perc in previous 365 daysClose to Close price movement greater than 75perc in previous 6 monthsHigh low price variation greater than 100perc in previous 6 months

Quick answers

What is the market cap of Garware Hi Tech Films Ltd?

Garware Hi Tech Films Ltd (GRWRHITECH) has a market capitalisation of Rs 16,301 Cr. at the 2026-10-01 close.

What is the P/E ratio of Garware Hi Tech Films Ltd?

Garware Hi Tech Films Ltd trades at a P/E of 42.0 on trailing twelve-month profit, at the 2026-10-01 close.

What were Garware Hi Tech Films Ltd's latest quarterly results?

In the Jun 2026 quarter, Garware Hi Tech Films Ltd sales was Rs 633 Cr (+27.9% vs Jun 2025) and net profit was Rs 133 Cr.

What is the 52-week high and low of Garware Hi Tech Films Ltd?

The 52-week high is Rs 7,990.00 and the 52-week low is Rs 2,690.70.

Data: NSE and BSE daily reports, company filings. Numbers only, not investment advice, not a SEBI-registered research service.AboutMethodologyFAQResearchContactTermsPrivacyDisclaimerUpdated 2026-10-03