



Capital Goods | Small Cap
Garware Hi Tech Films Ltd. demonstrates strong overall financial health, primarily driven by exceptional profitability, robust growth, and a virtually debt-free status. The company is highly effective at turning revenue into profit and is expanding its sales and earnings at an impressive rate. Its extremely low reliance on debt provides significant financial stability and minimizes risk. Key strengths include excellent collection of customer payments and a strong ability to cover its financial commitments. The main area for attention is operational efficiency; the company's use of its fixed assets to generate sales is not optimal, and inventory tends to be held for longer periods. Despite this, the strong growth and profitability paint a positive future outlook, supported by significant investments in its operations.
Garware Hi Tech Films Ltd. demonstrates strong overall financial health, primarily driven by exceptional profitability, robust growth, and a virtually debt-free status. The company is highly effective at turning revenue into profit and is expanding its sales and earnings at an impressive rate. Its extremely low reliance on debt provides significant financial stability and minimizes risk. Key strengths include excellent collection of customer payments and a strong ability to cover its financial commitments. The main area for attention is operational efficiency; the company's use of its fixed assets to generate sales is not optimal, and inventory tends to be held for longer periods. Despite this, the strong growth and profitability paint a positive future outlook, supported by significant investments in its operations.
Overall Valuation Score
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P/E RATIO (TTM)
50.04
Industry Median
19.80
Small Cap Median
19.80
P/E RATIO
49.52
P/B RATIO
6.31
Industry Median
1.53
Small Cap Median
1.53
P/S RATIO
7.21
Industry Median
0.88
Small Cap Median
0.88
Others
PEG RATIO
0.00
EV/EBITDA RATIO
30.35
The Calculations Shown Above Are Based on the Last Traded Price (LTP) of ₹7209.5 as on Sep 1, 2026.
The company exhibits excellent and consistent growth across all key areas. It has successfully expanded its revenues, operating profits, and net income, demonstrating strong market demand and operational leverage. This growth is also reflected in the expansion of its asset base, indicating reinvestment for future capacity. This comprehensive and robust growth trajectory points to a very positive business momentum and a strong outlook for the future.
| Growth Ratios | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|
| Revenue Growth Rate | 31.75 | 10.36 | 16.62 | 25.76 | 0.52 |
| Operating Profit Growth Rate | 8.68 | -4.62 | 24.23 | 56.38 | -1.36 |
| Earnings Per Share (EPS) Growth | 32.74 | -0.63 | 22.36 | 62.94 | 2.12 |
| Asset Growth Rate | 14.19 | 3.8 | 4.97 | 15.4 | 12.27 |
| Net Income Growth Rate | 32.54 | -0.6 | 22.29 | 63.05 | 2.11 |
Revenue Growth Rate
Operating Profit Growth Rate
Earnings Per Share (EPS) Growth
Asset Growth Rate
Net Income Growth Rate
Peer Comparison empowers investors to evaluate a company against its industry peers using key financial metrics like P/E ratio, EPS, and profit margins. It helps identify whether a company is overvalued, undervalued, or performing in line with competitors. Investors can use this data to spot opportunities, assess risks, and make informed decisions. This contextual view adds depth beyond standalone company analysis.
| NO | Company Name | Health Score | P/E Ratio | Valuation | OPM | EPS | Latest Profit & Loss |
|---|---|---|---|---|---|---|---|
| 1 | Garware Hi Tech Films Ltd | 8.69 | 49.52 | Neutral | 435.00 | 144.08 | 338.00 |
| 2 | AGI Greenpac Ltd | 7.96 | 14.39 | Neutral | 595.00 | 54.44 | 352.00 |
| 3 | EPL Ltd | 7.69 | 19.80 | Overvalued | 965.00 | 9.21 | 394.00 |
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Market Sentiment
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Concall Report⬤11th May 26
Q4 & FY26 Earnings Conference Call
BULLISH SENTIMENT
Quarterly Report⬤31st Jan 26
Quarterly Financial Results Q3 FY 2025-26
BULLISH SENTIMENT
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Garware Hi-Tech Films Ltd, formerly Garware Polyester Ltd, is a leading Indian manufacturer and exporter of advanced polyester films. The company specializes in sun control films, industrial films, and specialty films for diverse applications in automotive, architectural, industrial, and packaging sectors, boasting significant backward integration and a global market presence.
P/E Ratio (TTM): Price to Earnings ratio shows how much an investor pays for every rupee of the company's earnings. Garware Hi Tech Films Ltd's P/E ratio (TTM) is 50.04, compared to the industry median of 19.80 and large cap median of 19.80.
P/B Ratio: Price to Book ratio compares a company's market price to its book value per share. Garware Hi Tech Films Ltd's P/B ratio is 6.31, compared to the industry median of 1.53 and large cap median of 1.53.
P/S Ratio: Price to Sales ratio compares a company's market value to its total revenue. Garware Hi Tech Films Ltd's P/S ratio is 7.21, compared to the industry median of 0.88 and large cap median of 0.88.
PEG Ratio: PEG ratio adjusts the P/E ratio for expected earnings growth. Garware Hi Tech Films Ltd's PEG ratio is 1.34.
EV/EBITDA Ratio: This ratio compares a company's enterprise value to its earnings before interest, tax, depreciation, and amortization. Garware Hi Tech Films Ltd's EV/EBITDA ratio is 30.35.
Return on Equity (ROE): ROE measures how much profit a company generates from shareholders' invested capital. Garware Hi Tech Films Ltd's ROE is 12.73%.
Return on Assets (ROA): ROA measures how efficiently a company converts its assets into net profit. Garware Hi Tech Films Ltd's ROA is 14.45%.
Return on Capital Employed (ROCE): ROCE measures how efficiently a company generates profit from all the capital it employs. Garware Hi Tech Films Ltd's ROCE is 18%.
Operating Margin: Operating margin shows what percentage of revenue remains after covering operating expenses. Garware Hi Tech Films Ltd's operating margin is 20.52%.
Net Margin: Net margin shows what percentage of revenue converts into final net profit. Garware Hi Tech Films Ltd's net margin is 15.94%.
Current Ratio: The current ratio measures a company's ability to pay short-term liabilities using short-term assets. Garware Hi Tech Films Ltd's current ratio is 2.09.
Debt to Equity Ratio: This ratio shows the proportion of debt a company uses relative to shareholders' equity. Garware Hi Tech Films Ltd's debt-to-equity ratio is 0.01.
Interest Coverage Ratio: This ratio shows how easily a company can pay interest on its outstanding debt from its operating earnings. Garware Hi Tech Films Ltd's interest coverage ratio is 56.75.
Dividend Per Share (DPS): DPS shows the total dividend paid per share in the latest financial year. Garware Hi Tech Films Ltd's DPS is ₹11.65.
Earnings Per Share (EPS): EPS shows how much profit is allocated to each outstanding share. Garware Hi Tech Films Ltd's EPS is 2.12.
(Source line: "Ratios as of 24 Oct 2026, based on last traded price of ₹7209.50. Data sourced from BSE/NSE Exchange Filings & Public Terminal Data.")
Founded: 1957 (as Garware Polyester Limited)
Headquarters: Mumbai, Maharashtra
Core Offerings: Polyester Films (BOPET), Sun Control Films, Paint Protection Films (PPF), Industrial Films, Specialty Films
Stock Listing: NSE (GRWRHITECH), BSE (500655)
Promoter: Garware Family / Garware Group
1957: Founded as Garware Polyester Limited, pioneering polyester film manufacturing in India. 1970s-1990s: Expanded manufacturing capabilities and diversified product offerings, establishing a strong domestic presence. 2000s: Enhanced global footprint through exports and establishment of international subsidiaries. 2021: Renamed to Garware Hi-Tech Films Ltd, reflecting its focus on high-performance and advanced film technologies.
| Segment Name | Revenue % | EBITDA |
|---|---|---|
| Polyester Films & Allied Products | 100% | N/A (consolidated EBITDA reported) |
Polyester Films (BOPET): Manufacturing of biaxially oriented polyester (BOPET) films widely used in packaging, electrical insulation, and various industrial applications.
Specialty & Performance Films: Production of advanced films including sun control films for automotive and architectural glazing, high-durability paint protection films (PPF), and other customized industrial film solutions.
Backward Integration: The company maintains strong backward integration, from polyester chip manufacturing to finished film products, ensuring quality control and operational efficiency across its value chain.
Shashikant B. Garware (Chairman & Managing Director): A veteran in the film manufacturing industry, he has spearheaded the company's growth and technological innovation since its early days, bringing extensive experience in operations and international business.
Garware Advanced Films Inc. (USA)
Garware Films S.A. (Switzerland)
Garware Hi-Tech Films (Europe) B.V. (Netherlands)
Garware Hi-Tech Films Pte. Ltd. (Singapore)
Garware Hi-Tech Films (Pty) Ltd (South Africa)
Garware Hi-Tech Films (UK) Ltd. (UK)
Garware Hi-Tech Films (Australia) Pty. Ltd. (Australia)
Garware Hi-Tech Films GmbH (Germany)
2023: Split of equity shares from face value ₹10 to ₹5 per share. 2021: Change of company name from Garware Polyester Limited to Garware Hi-Tech Films Ltd.
The Garware Hi Tech Films Ltd share price today is ₹7209.50 on NSE (GRWRHITECH), as of 24 Oct 2026.
As of 24 Oct 2026, Garware Hi Tech Films Ltd share price is ₹7209.50, with previous close ₹7209.50. Today's range is ₹7209.50 to ₹7209.50. The 52-week range is ₹N/A to ₹N/A.
As of today, Garware Hi Tech Films Ltd's market cap is ₹15,284.14 crore (Mid Cap).
Garware Hi Tech Films Ltd's current P/E ratio is 50.04, compared to the COMMERCIAL SERVICES & SUPPLIES sector average of 68.
Garware Hi Tech Films Ltd's current P/B ratio is 6.31.
Garware Hi Tech Films Ltd's current dividend yield is 0.16%. Last dividend of ₹5.00 per share was declared on 23-Feb-2024.
Garware Hi Tech Films Ltd's EPS (TTM) is ₹2.12.
Garware Hi-Tech Films Ltd, formerly Garware Polyester Ltd, is a leading Indian manufacturer and exporter of advanced polyester films. The company specializes in sun control films, industrial films, and specialty films for diverse applications in automotive, architectural, industrial, and packaging sectors, boasting significant backward integration and a global market presence.
Garware Hi Tech Films Ltd is promoted by Garware Family / Garware Group, holding 60.72% as of 24 Oct 2026.
Garware Hi Tech Films Ltd is listed on NSE (GRWRHITECH) and BSE (500655). Its next quarterly results are expected on August 2024 (Q1 FY25).