Garware Hi-Tech Films Limited (IN:GRWRHITECH)
:GRWRHITECH
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Garware Hi-Tech Films Limited
(GRWRHITECH)
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Rating:75Outperform
Price Target:
₹6,122.00
▲(93.12% Upside)
Action:Reiterated
Date:05/08/26
The score is driven primarily by strong financial quality (steady growth and exceptionally low leverage), partially offset by weaker 2026 cash flow conversion and margin compression. Technicals are supportive due to a strong uptrend, but overbought indicators raise near-term volatility risk. Valuation is a modest headwind given the ~23x P/E and minimal dividend yield.
Positive Factors
Very low leverage / strong balance sheet
Extremely low debt and a conservatively financed balance sheet materially reduce financial risk, enabling the company to fund capex, weather raw-material cycles, and pursue growth without refinancing pressure. This durable cushion supports long-term resilience and strategic optionality.
Negative Factors
Margin compression
Material decline in gross and EBITDA margins signals sustained cost pressure or adverse mix shift. If driven by higher resin/chemical costs or product mix, this can erode pricing power and return on capital, making margin recovery critical to preserve long-term profitability and ROE.
Read all positive and negative factors
Positive Factors
Negative Factors
Very low leverage / strong balance sheet
Extremely low debt and a conservatively financed balance sheet materially reduce financial risk, enabling the company to fund capex, weather raw-material cycles, and pursue growth without refinancing pressure. This durable cushion supports long-term resilience and strategic optionality.
Read all positive factors
Garware Hi-Tech Films Limited (GRWRHITECH) vs. iShares MSCI India ETF (INDA)
Market Cap
₹125.11B
Dividend Yield0.37%
Average Volume (3M)5.62K
Price to Earnings (P/E)23.2
Beta (1Y)1.83
Revenue Growth0.51%
EPS Growth2.12%
CountryIN
Employees885
SectorBasic Materials
Sector Strength58
IndustryChemicals - Specialty
Share Statistics
EPS (TTM)134.66
Shares Outstanding23,232,393
10 Day Avg. Volume4,727
30 Day Avg. Volume5,617
Financial Highlights & Ratios
PEG Ratio10.97
Price to Book (P/B)2.96
Price to Sales (P/S)3.71
P/FCF Ratio71.69
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)182.2
Revenue Forecast (FY)₹25.49B
Garware Hi-Tech Films Limited Business Overview & Revenue Model
Company Description
Garware Hi-Tech Films Limited manufactures and sells polyester films in India and internationally. The company offers bi-axially oriented polyethylene terephthalate/polyester films, sun control films, thermal lamination films, and specialty polyes...
How the Company Makes Money
Garware Hi-Tech Films primarily makes money by manufacturing specialty PET-based films and selling them to customers and channel partners, generating revenue from product sales rather than recurring service subscriptions. Key revenue streams inclu...
Garware Hi-Tech Films Limited Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
92
Very Positive
Cash Flow
69
Positive
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 20.47B | 21.20B | 20.77B | 16.52B | 14.12B | 12.75B |
| Gross Profit | 9.93B | 7.95B | 10.00B | 7.66B | 6.72B | 6.69B |
| EBITDA | 4.65B | 4.35B | 4.90B | 3.17B | 2.65B | 2.73B |
| Net Income | 3.13B | 3.38B | 3.31B | 2.03B | 1.66B | 1.67B |
Balance Sheet | ||||||
| Total Assets | 28.32B | 30.11B | 26.82B | 23.24B | 22.14B | 21.33B |
| Cash, Cash Equivalents and Short-Term Investments | 6.97B | 7.74B | 6.50B | 3.84B | 3.76B | 2.99B |
| Total Debt | 184.10M | 156.60M | 152.10M | 199.15M | 1.57B | 2.02B |
| Total Liabilities | 3.25B | 3.55B | 3.10B | 2.79B | 3.59B | 4.22B |
| Stockholders Equity | 25.07B | 26.56B | 23.72B | 20.45B | 18.56B | 17.11B |
Cash Flow | ||||||
| Free Cash Flow | 762.10M | 1.10B | 2.71B | 1.55B | 1.48B | 460.69M |
| Operating Cash Flow | 1.63B | 2.71B | 3.30B | 1.72B | 2.18B | 1.72B |
| Investing Cash Flow | -1.24B | -2.12B | -2.75B | 469.14M | -1.70B | -1.41B |
| Financing Cash Flow | -552.30M | -513.50M | -520.50M | -1.69B | -893.86M | 58.06M |
Garware Hi-Tech Films Limited Technical Analysis
Positive
3170.10
Price Trends
4147.39
Positive
3830.55
Positive
3581.33
Positive
Market Momentum
418.32
Negative
70.85
Negative
85.80
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:GRWRHITECH, the sentiment is Positive. The current price of 3170.1 is below the 20-day moving average (MA) of 4685.50, below the 50-day MA of 4147.39, and below the 200-day MA of 3581.33, indicating a bullish trend. The MACD of 418.32 indicates Negative momentum. The RSI at 70.85 is Negative, neither overbought nor oversold. The STOCH value of 85.80 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:GRWRHITECH.
Garware Hi-Tech Films Limited Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
75 Outperform | ₹125.11B | 23.23 | ― | 0.37% | 0.51% | 2.12% | |
70 Outperform | ₹28.45B | 116.03 | ― | 0.10% | -13.24% | 35.53% | |
69 Neutral | ₹46.96B | 31.42 | ― | 0.25% | 34.42% | 74.38% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
57 Neutral | ₹30.10B | -5.55 | ― | 1.18% | -34.19% | -193.48% | |
54 Neutral | ₹27.34B | 44.38 | ― | 0.79% | 1.91% | -85.42% | |
51 Neutral | ₹28.03B | -310.89 | ― | 0.20% | -3.01% | -41.17% |
* Basic Materials Sector Average
IN:GRWRHITECH
Garware Hi-Tech Films Limited
5,543.35
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28.04%
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Garware Hi-Tech Films Limited Corporate Events
Garware Hi-Tech Films Reshapes Board With New Independent Director, Extends Top Executive’s Tenure
May 6, 2026
Garware Hi-Tech Films Limited has announced board changes following a meeting held on May 6, 2026, approving the appointment of Ms. Sonali Rajesh Mehta as an Additional Independent Director for a one-year term starting June 25, 2026, subject to sh...
Garware Hi-Tech Films Posts Record FY26 Results, Bets ₹192 Crore on New Sun Control Film Line
May 6, 2026
Garware Hi-Tech Films Limited reported record financial performance for FY26, with revenue from operations reaching ₹2,120 crore and profit after tax rising to ₹338 crore, supported by margin expansion and operational efficiencies desp...
Garware Hi-Tech Films to Invest Rs 191 Crore in New Lamination Line
May 6, 2026
Garware Hi-Tech Films Limited has approved a new lamination line at its Waluj facility in Chhatrapati Sambhaji Nagar, Maharashtra, adding 1,200 LSF per annum of capacity. The project involves an investment of Rs. 191 crore plus applicable taxes an...
Garware Hi-Tech Films Unveils New Portfolio of Advanced Specialty Films
Apr 10, 2026
Garware Hi-Tech Films Limited has launched three new product lines, expanding its portfolio into graphic, cloaking and PDLC smart films. The new offerings include high-performance graphic films for branding, advanced cloaking films for secure visu...
Garware Hi-Tech Films Overhauls Governance, AI and Workplace Policies
Mar 30, 2026
Garware Hi-Tech Films Limited has overhauled a broad suite of governance and operational policies, including its related party transactions policy, material event determination framework, insider trading and UPSI disclosure codes, dividend distrib...
Garware Hi-Tech Films Seeks Shareholder Nod for New Whole-Time Director via E-Voting
Feb 20, 2026
Garware Hi-Tech Films Limited has initiated a postal ballot process to seek shareholder approval for appointing Mr. Uday V. Joshi as a whole-time director via a special resolution conducted through remote e-voting. The company has engaged National...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.