Garware Hi-Tech Films Limited Maintains Profitability Despite Global Challenges

Garware Hi-Tech Films Limited (GHFL) (BOM: 500655 | NSE: GRWRHITECH), a worldwide supplier of specialty polyester movies, introduced outcomes for the second quarter and half 12 months 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 stated, “It has been a gentle quarter and half 12 months for GHFL, regardless of world challenges, as now we have been capable of finding a steadiness to extend our profitability in addition to make investments that can contribute incrementally to GHFLs high line. These measures will finally take the corporate to a distinct segment place within the specialty movies market in all of the geographies the place now we have a presence.”

Speaking in regards to the outlook for the 12 months forward, Ms. Monika Garware, Vice-Chairperson, and Joint Managing Director stated, “Keeping in thoughts the strong demand within the specialty movie area in 2023 and past, the continuing manufacturing line enlargement 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 enlargement and advertising and marketing actions.”

Consolidated Financial Summary:

Rs. in Crores

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 12 months 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 likely one of 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 unbiased manufacturing strains and a enterprise that spans the globe. Polyester Films are used for a wide range of functions comparable to PET Shrink movies for Label functions, Low Oligomer PET movies for insulation of hermetically sealed compressors motors, Electric motor insulation, and cable insulation, sequin functions movies, TV and LCD display utility, Packaging functions, and so on. GHFL can be the market chief and India’s solely producer of Sun Control window movies for Building, security, and auto functions.

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

About Author

admin

Being a discoverer of all current affairs and in-depth learnings of successful businesses and entreprises, Nelson finds passion in authoring business articles and blogs. He is the Content Curator at Newsbizkoot Business News which he is journeying into the most viewed business news media platform

See author's posts