Garware Hi-Tech Films Ltd. (formerly Garware Polyester Ltd.), the flagship company of the Garware Group and a leading player in specialty Polyester Films in India declared its results for the quarter ended June 30, 2021 on July 29th,2021.

 Highlights for Consolidated Q1 FY22 (April-June’21)

    Revenue at ₹ 305.60 Cr (vs ₹ 169.44 Cr in Q1 FY’21 up by 80 % on YoY basis)

    Exports contributed ₹ 249.06 Cr (vs ₹ 141.35 in Q1FY21) up by ₹ 76 % on YoY basis

    Net Profit for the period after tax at ₹ 35.83 Cr (vs ₹ 13.61 Cr in Q1 FY21) up by 163 % on YoY basis

    Earning per share (EPS) at ₹ 15.42, up by 163 % over the corresponding quarter in FY 2020-21

Unique Products, Global Patents, Focus on Value Added Films, Higher Share of Consumer Products, Focus on Export Markets, etc. have further improved the company’s financial results. GHFL announced a Capex of ₹135cr for the new lamination window film line to materialize the company’s aim to expand the window films category across safety, architectural and front window screen glasses.

Earnings Before Interest, Tax, Depreciation, & Amortization (EBITDA) for the quarter stood at ₹ 65.86 Cr (vs ₹ 30.88 Cr in Q1 FY21) reflecting a 21.56% EBITDA margin. EBITDA margin up by 334 Bps on YoY basis due to increase in revenue including specialty products. 

“GHFL’s performance in the first quarter was robust across all financial metrics,” said Ms. Monika Garware, Vice-Chairperson, and Jt. Managing Director, GHFL. “As the markets are opening up, we hope to maintain the growth momentum. We continue to put efforts into growing our revenue share through exports, which witnessed a growth of 76%% in Q1 on a YoY basis. Consistent improvement in our operating metrics reflects our relentless rigor of execution & our increased focus towards niche high margin specialty products, which has resulted in PBDT Margin reaching 20.1% in Q1FY22.  The outlook for the rest of the year is promising with an anticipated incremental revenue contribution from our newly launched PPF line. Given the current visibility and a promising demand landscape, we foresee better times for us going ahead helping us realize our growth aspirations.”