Garware Hi-Tech Films Limited (GRWRHITECH) AI Stock Analysis

Garware Hi-Tech Films Limited

(NSE:GRWRHITECH)

Select Model

Rating:64Neutral

Price Target:INR 6,810.00▼(-2.16% Downside)

Action:downgraded

Date:09/23/26

The overall score of 64 reflects a company with strong fundamentals but facing near-term market headwinds. The primary strength is a pristine balance sheet and a history of profitable growth, which provides a solid foundation. However, this is significantly offset by weak technical momentum, with the stock in a clear downtrend, and a high P/E ratio that makes it vulnerable to further de-rating if growth concerns persist. The recent decline in gross margins and free cash flow are key risks to monitor.

Positive Factors

Steady revenue expansionRevenue has more than doubled across the five-year period, demonstrating sustained business expansion and growing customer demand. This creates a broader operating base for Garware Hi-Tech Films and supports continued scale benefits, even as the latest year shows slower growth.

Negative Factors

Material margin compressionThe significant year-over-year margin decline signals pressure from costs, pricing, or product mix and could reduce earnings quality if it persists. Lower operating profitability would limit the benefit of revenue growth and make future results more sensitive to input costs and market conditions.

Garware Hi-Tech Films Limited (GRWRHITECH) vs. iShares MSCI India ETF (INDA)

Market Cap: INR 162.14B
Dividend Yield: 0.17%
Average Volume (3M): 3,732
Price to Earnings (P/E): 38.0
Beta (1Y): 1.92
Revenue Growth: 14.67%
EPS Growth: 36.19%
Country: India
Employees: 1,996
Sector: General
Sector Strength: 55
Industry: Chemicals - Specialty

Garware Hi-Tech Films Limited Business Overview & Revenue Model

Company Description

Garware Hi-Tech Films Ltd. is a holding company, which engages in the manufacture of polyester films. It operates through the following geographical segments: Within India, China, and Rest of the World. Its products include polyester film/BOPET, BOPP...

How the Company Makes Money

Garware Hi-Tech Films primarily makes money by manufacturing and selling specialty polyester (PET) films to business customers (B2B) in domestic and export markets. Its revenue model is largely volume- and mix-driven: (1) Sales of specialty/value-add...

Garware Hi-Tech Films Limited Financial Statement Overview

Summary

The company's financial health is solid, anchored by an exceptional balance sheet with negligible debt and a strong income statement showing robust historical growth and healthy margins. However, recent gross margin compression and uneven cash flow generation temper the overall score.

Income Statement

78Positive

Balance Sheet

90Very Positive

Cash Flow

70Positive

Financial statement breakdown
Breakdown	TTM	Mar 2026	Mar 2025	Mar 2024	Mar 2023	Mar 2022
Income Statement
Total Revenue	23.84B	21.20B	20.77B	16.52B	14.12B	12.75B
Gross Profit	9.96B	7.95B	10.00B	7.66B	6.72B	6.69B
EBITDA	6.04B	5.00B	4.90B	3.17B	2.65B	2.73B
Net Income	4.26B	3.38B	3.31B	2.03B	1.66B	1.67B
Balance Sheet
Total Assets	33.20B	30.11B	26.82B	23.24B	22.14B	21.33B
Cash, Cash Equivalents and Short-Term Investments	9.33B	7.74B	6.50B	3.84B	3.76B	2.99B
Total Debt	126.10M	156.60M	152.10M	199.15M	1.57B	2.02B
Total Liabilities	4.13B	3.55B	3.10B	2.79B	3.59B	4.22B
Stockholders Equity	29.07B	26.56B	23.72B	20.45B	18.56B	17.11B
Cash Flow
Free Cash Flow	0	1.10B	2.71B	1.55B	1.48B	460.69M
Operating Cash Flow	0	2.71B	3.30B	1.72B	2.18B	1.72B
Investing Cash Flow	0	-2.12B	-2.75B	469.14M	-1.70B	-1.41B
Financing Cash Flow	0	-513.50M	-520.50M	-1.69B	-893.86M	58.06M

Garware Hi-Tech Films Limited Technical Analysis

Technical Analysis SentimentPositive

Last Price6960.45

Price Trends

50DMA6926.53Positive

100DMA6892.03Positive

200DMA5523.72Positive

Market Momentum

MACD39.21Negative

RSI50.97Neutral

STOCH78.84Neutral

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 6960.45 is below the 20-day moving average (MA) of 6993.67, above the 50-day MA of 6926.53, and above the 200-day MA of 5523.72, indicating a neutral trend. The MACD of 39.21 indicates Negative momentum. The RSI at 50.97 is Neutral, neither overbought nor oversold. The STOCH value of 78.84 is Neutral, 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

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

IN:GRWRHITECH against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
IN:PREMIERPOL	80Outperform	INR 9.55B	25.84	―	0.16%	28.59%	39.90%
IN:SHAILY	79Outperform	INR 145.54B	74.13	―	0.10%	18.37%	27.72%
IN:GRWRHITECH	64Neutral	INR 162.24B	37.96	―	0.17%	14.67%	36.19%
IN:DDEVPLSTIK	64Neutral	INR 25.08B	12.07	―	0.71%	15.33%	9.36%
IN:POLYPLEX	60Neutral	INR 28.11B	18.23	―	0.33%	9.55%	13.87%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
IN:PLASTIBLEN	54Neutral	INR 4.15B	9.17	―	1.85%	9.17%	40.71%

* General Sector Average

Performance Comparison

IN:GRWRHITECH and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
IN:GRWRHITECH	Garware Hi-Tech Films Limited	6960.45	3566.68	105.09%
IN:PLASTIBLEN	Plastiblends India Limited	162.50	-11.49	-6.60%
IN:POLYPLEX	Polyplex Corporation Limited	914.95	-26.78	-2.84%
IN:PREMIERPOL	Premier Polyfilm Limited	91.01	49.05	116.88%
IN:SHAILY	Shaily Engineering Plastics Limited	3014.25	649.76	27.48%
IN:DDEVPLSTIK	Ddev Plastiks Industries Limited	248.95	-45.61	-15.48%

Garware Hi-Tech Films Limited Corporate Events

Garware Hi-Tech Films Schedules Q1 FY27 Earnings Call for August 7

Aug 3, 2026

Garware Hi-Tech Films Limited has announced that it will host an earnings conference call on August 7, 2026, to discuss its unaudited financial results and business performance for the quarter ended June 30, 2026. The call, scheduled for 11:00 a.m. I...

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.

Date of analysis: Sep 23, 2026

Garware Hi-Tech Films Limited AI Stock Analysis