Garware Hi-Tech Films Limited Maintains Profitability Despite Global Challenges

Garware Hi-Tech Films Limited (GHFL) (BOM: 500655 | NSE: GRWRHITECH), a world supplier of specialty polyester movies, introduced outcomes for the second quarter and half yr ended on September 30, 2022.

Highlights:

Consolidated Q2FY23:

• Revenue up by 16.2% at Rs. 395 crores visa-vis Rs. 340 crores in Q2FY22

• EBIDTA up by 10.1% at Rs. 76 crores visa-vis Rs. 69 crores in Q2FY22

• PAT up by 11.1% at Rs. 48 crores visa-vis Rs. 43 crores in Q2FY22

Consolidated H1FY23:

• Revenue up by 18.5% at Rs. 765 crores visa-vis Rs. 645 crores in H1FY22

• EBIDTA up by 8.7% at Rs. 147 crores visa-vis Rs. 135 crores in H1FY22

• PAT up by 17.1% at Rs. 93 crores visa-vis Rs. 79 crores in H1FY22

Commenting on the outcomes Shri S. B. Garware, Chairperson and Managing Director mentioned, “It has been a gradual quarter and half yr for GHFL, regardless of international challenges, as we’ve got been capable of finding a steadiness to extend our profitability in addition to make investments that may contribute incrementally to GHFLs high line. These measures will ultimately take the corporate to a distinct segment place within the specialty movies market in all of the geographies the place we’ve got a presence.”

Speaking in regards to the outlook for the yr forward, Ms. Monika Garware, Vice-Chairperson, and Joint Managing Director mentioned, “Keeping in thoughts the sturdy demand within the specialty movie house in 2023 and past, the continued manufacturing line growth will assist us cater to the elevated demand from the auto in addition to architectural segments, together with an elevated focus and efforts in gross sales community growth and advertising actions.”

Consolidated Financial Summary:

Rs. in Crores

Particulars	Quarter Ended			Half Year Ended			Year Ended
	Q2FY23	Q2FY22	Change	H1FY23	H1FY22	Change	FY22
Revenue	395	340	16.2%	765	645	18.5%	1303
EBITDA	76	69	10.1%	147	135	8.7%	277
PAT	48	43	11.1%	93	79	17.1%	167

Garware Hi-Tech Films Limited (GHFL)

Garware Hi-Tech Films Limited (previously Garware Polyester Ltd.) (BOM: 500655 | NSE: GRWRHITECH) is the flagship firm of the Garware Group co-promoted by the Chairman and Managing Director Shri S.B. Garware within the yr 1957 together with the Founder-Chairman Late Padmabhushan Dr. B. D. Garware.

GHFL manufactures Hi-Tech specialty efficiency polyester Films and has State-of-the-Art manufacturing services in Aurangabad, Maharashtra, India. GHFL is the pioneer and is among the largest exporters of Polyester Films in India. GHFL has been the winner of high exporters’ awards for 33 steady years from PLEXCOUNCIL.

GHFL manufacturing facility at Aurangabad is vertically built-in, from the manufacture of polyester chips to the polyester movie completed product with 4 impartial manufacturing traces and a enterprise that spans the globe. Polyester Films are used for quite a lot of purposes corresponding to PET Shrink movies for Label purposes, Low Oligomer PET movies for insulation of hermetically sealed compressors motors, Electric motor insulation, and cable insulation, sequin purposes movies, TV and LCD display screen software, Packaging purposes, and so forth. GHFL can be the market chief and India’s solely producer of Sun Control window movies for Building, security, and auto purposes.

GHFL has services for manufacturing numerous sorts of Sun Control Films that are used for Architectural and Automotive purposes. The firm has additionally developed surface-protection and Paint Protection Films designed to ship the best degree of safety and impression resistance which has purposes in lots of sectors.

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