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Garware Hi-Tech Films Limited
(GRWRHITECH)
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Rating:65Neutral
Price Target:
₹6,842.00
▲(115.83% Upside)
Action:Reiterated
Date:09/23/26
The score is primarily supported by strong financial quality—solid growth and exceptionally low leverage—partly offset by 2026 margin compression and weaker free-cash-flow conversion. Technicals are bearish (below key moving averages with negative MACD), and valuation is stretched (high P/E with minimal dividend yield), which together cap the overall score.
Positive Factors
Steady revenue expansion
Revenue 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 compression
The 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.
Read all positive and negative factors
Positive Factors
Negative Factors
Steady revenue expansion
Revenue 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.
Read all positive factors
Garware Hi-Tech Films Limited (GRWRHITECH) vs. iShares MSCI India ETF (INDA)
Market Cap
₹153.67B
Dividend Yield0.18%
Average Volume (3M)3.23K
Price to Earnings (P/E)39.8
Beta (1Y)2.01
Revenue Growth6.02%
EPS Growth19.02%
CountryIN
Employees1,996
SectorGeneral
Sector StrengthN/A
IndustryChemicals - Specialty
Share Statistics
EPS (TTM)166.96
Shares Outstanding23,232,393
10 Day Avg. Volume3,529
30 Day Avg. Volume3,230
Financial Highlights & Ratios
PEG Ratio10.97
Price to Book (P/B)2.96
Price to Sales (P/S)3.71
P/FCF Ratio71.69
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)182.2
Revenue Forecast (FY)₹25.49B
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, B...
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-...
Garware Hi-Tech Films Limited Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
92
Very Positive
Cash Flow
69
Positive
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 22.58B | 21.20B | 20.77B | 16.52B | 14.12B | 12.75B |
| Gross Profit | 9.89B | 7.95B | 10.00B | 7.66B | 6.72B | 6.69B |
| EBITDA | 5.68B | 5.00B | 4.90B | 3.17B | 2.65B | 2.73B |
| Net Income | 3.88B | 3.38B | 3.31B | 2.03B | 1.66B | 1.67B |
Balance Sheet | ||||||
| Total Assets | 0.00 | 30.11B | 26.82B | 23.24B | 22.14B | 21.33B |
| Cash, Cash Equivalents and Short-Term Investments | 7.74B | 7.74B | 6.50B | 3.84B | 3.76B | 2.99B |
| Total Debt | 0.00 | 156.60M | 152.10M | 199.15M | 1.57B | 2.02B |
| Total Liabilities | -26.56B | 3.55B | 3.10B | 2.79B | 3.59B | 4.22B |
| Stockholders Equity | 26.56B | 26.56B | 23.72B | 20.45B | 18.56B | 17.11B |
Cash Flow | ||||||
| Free Cash Flow | 762.10M | 1.10B | 2.71B | 1.55B | 1.48B | 460.69M |
| Operating Cash Flow | 1.63B | 2.71B | 3.30B | 1.72B | 2.18B | 1.72B |
| Investing Cash Flow | -1.24B | -2.12B | -2.75B | 469.14M | -1.70B | -1.41B |
| Financing Cash Flow | -552.30M | -513.50M | -520.50M | -1.69B | -893.86M | 58.06M |
Garware Hi-Tech Films Limited Technical Analysis
Positive
3170.10
Price Trends
6957.13
Negative
6561.73
Positive
5109.39
Positive
Market Momentum
-151.99
Positive
45.77
Neutral
36.87
Neutral
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 3170.1 is below the 20-day moving average (MA) of 6796.98, below the 50-day MA of 6957.13, and below the 200-day MA of 5109.39, indicating a neutral trend. The MACD of -151.99 indicates Positive momentum. The RSI at 45.77 is Neutral, neither overbought nor oversold. The STOCH value of 36.87 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
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | ₹9.99B | 28.56 | ― | 0.16% | 19.33% | 33.81% | |
69 Neutral | ₹145.18B | 81.70 | ― | 0.09% | 19.97% | 51.18% | |
65 Neutral | ₹153.67B | 39.77 | ― | 0.18% | 6.02% | 19.02% | |
65 Neutral | ₹5.29B | 12.35 | ― | 1.48% | 5.48% | 35.53% | |
64 Neutral | ₹26.59B | 12.42 | ― | 0.68% | 15.33% | 9.36% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
54 Neutral | ₹34.10B | 21.96 | ― | 0.28% | 9.55% | 13.87% |
* General Sector Average
IN:GRWRHITECH
Garware Hi-Tech Films Limited
6,614.45
3,701.55
127.07%
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IN:POLYPLEX
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IN:SHAILY
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IN:DDEVPLSTIK
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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...
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.