Garware Hi-Tech Films Limited reported strong financial performance for the third quarter ending December 31, 2024. The company saw improvements in revenue, profitability, and operational efficiency, despite external market pressures.
Key Financial Highlights (Q3 FY25):
- Revenue from operations: ₹466.4 crore, up 2.8% YoY compared to ₹453.6 crore in Q3 FY24.
- Net Profit (PAT): ₹60.8 crore, up 8.8% YoY from ₹55.9 crore.
- EBITDA: ₹93.7 crore, a 10.7% increase from ₹84.6 crore in Q3 FY24, reflecting better operational performance and cost control measures.
- EBITDA margin: Improved to 20.1% compared to 18.6% YoY.
- PBT: ₹81 crore, up 11% YoY from ₹73 crore, driven by robust operational gains.
- Cash Profit: ₹69.4 crore, up 6% YoY.
- EPS: Improved to ₹26.2 from ₹24.1 in the previous year.
Nine-Month Performance Highlights (9M FY25):
- Revenue: ₹1,561.4 crore, up 26.9% YoY from ₹1,230.4 crore.
- EBITDA: ₹374.1 crore, up 61.7% YoY.
- PBT: ₹336.7 crore, up 75.2% YoY.
- Net Profit (PAT): ₹253.4 crore, up 74.2% YoY.
Business Updates:
- Capital Expenditure: Approval for India’s first-of-its-kind TPU extrusion line with a capacity of 360 LSF.
- Innovation: Launch of new PPF solutions, including colored PPF, headlight, and taillight PPF, alongside strategic EMI and insurance partnerships.
- Recognition: Named India’s Top Value Creator for 2024 by Dun & Bradstreet.
- New Patent: Granted a patent for a floatable shrink film, strengthening its innovation-driven portfolio.
Commenting on the results, Dr S. B. Garware, Chairman and Managing Director, Garware Hi-Tech Films Limited said: “As we continue to chart our course towards a future of innovation and excellence, our commitment to long-term sustainable growth remains unwavering. Our strategic emphasis on operational efficiency and high-quality offerings is now further strengthened by strategic partnerships and dynamic marketing strategies. These efforts are not just expanding our footprint in India and overseas markets but also reinforcing our dedication to making a positive impact on our customers and communities.”
Ms. Monika Garware, Vice Chairperson and Joint Managing Director, Garware Hi-Tech Films Limited added, “Our performance over the past nine months has been outstanding, driven by continuous innovation, strong focus on enhancing our product offerings and customer experience. To strengthen our future growth plans, we are pleased to inform you that the Board of Directors have approved an investment of INR 118 crores in TPU extrusion line with an annual capacity of 360 LSF at our Waluj Plant and the production is set to commence by October 2026. This line will enhance our manufacturing capabilities, optimize operational costs and support future market demand. We have recently launched the industry’s first Coloured PPF and Headlight & Taillight Glass Protection which will open up new business opportunities in the market. Additionally, we made strategic collaborations to ensure PPF offerings more accessible and supported by a comprehensive insurance program.
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