According to reports from CNBC TV18, Garware Hi-Tech Films delivered robust financial results for the March quarter, with net profit surging 39% to ₹108.2 crore compared to ₹78 crore in the corresponding quarter of the previous year. The company's revenue grew by 9% to ₹596.7 crore from ₹548 crore year-on-year, while EBITDA rose 29.5% to ₹135.5 crore from ₹104.6 crore last year. EBITDA margins expanded significantly to 22.8% from 19% in the base quarter, demonstrating improved operational efficiency.
As reported by CNBC TV18, the company's board approved a ₹192 crore capex for a new Sun Control Film line backed by robotics and automation technology. This investment will add approximately 1,200 LSF capacity and is expected to commence commercial production in June 2027. This represents the company's sixth major capex plan in recent years, indicating continued investment in manufacturing capabilities and technological advancement.
According to the report, Garware Hi-Tech unveiled three new products during the quarter - TPU-based UV printable films, PDLC speciality films (Privacy on Demand), and Graphic Solutions. On the distribution front, the company expanded its Global Application Studios footprint with 11 international additions - 2 in the UAE and 9 in the USA. Domestically, the company now operates 250+ Garware Application Studios and six Global Home Solutions centres, with a target to scale the latter to 50 by the end of FY27.
As reported by CNBC TV18, shares of Garware Hi-Tech surged more than 15% following the earnings announcement, hitting an intraday high of ₹5,250, which also represents a 52-week high for the stock. The stock has demonstrated strong momentum with a 38% surge in the last one month, extending its year-to-date gains to 65%. Vice Chairperson and Joint Managing Director Monika Garware stated that the new Sun Control Film line will strengthen the company's future growth prospects.
