GRWRHITECHCapital Goods

Garware Hi-Tech Films Limited

Plastic Products - Industrial · ISIN INE291A01017 · BSE 500655 · NSE EQ · FV ₹10
Last price
₹7,545
+2.01%today
What this company does

Garware Hi-Tech Films Limited operates in Plastic Products - Industrial, part of the Capital Goods sector. It booked ₹696 cr of revenue in its latest quarter (Q2 FY27) and kept 18.6% of sales as profit. It is the 3rd largest of 9 Plastic Products - Industrial companies we track, by market value.

In the report:
75out of 100
Equitytale Health Score
Solid

Healthier than 75% of companies in Capital Goods, on all six measures of filed financials. Each measure is ranked against the 81–127 companies that reported it.

Measures financial condition, not whether to buy. Learn what this score means · How this is calculated

Price momentum
neutral
RSI (14)
61

At close. Not part of the score.

Profitability & returns73

How much profit it earns on the money it employs

Balance sheet91

How much it owes, and whether earnings cover the interest

Cash quality70

Whether reported profit actually arrives as cash

Growth & consistency63

Whether sales and profit have grown, and how steadily

Valuation59

What today's price implies, against our models or its peers

Governance & risk100

How much of the promoters' stake is pledged, and how much they hold · highest in its sector on what we could measure

Is this company doing well?
not investment advice
Strengths
✓ Makes a profit
✓ Strong 19% net margin
✓ Sales up 22% vs last year
✓ Profit up 42% vs last year
✓ Promoters hold 61%
✓ No promoter shares pledged
✓ Strong 18% return on equity
✓ Virtually debt-free
✓ Turns profit into real cash
Watch-outs
None flagged from our data

What if I invest in GRWRHITECH?

Set a growth rate and see what a monthly SIP would add up to. Your assumption, our arithmetic.

You would put in
₹12.00 lakh
120 instalments
At 15% a year, it would become
₹26.30 lakh

The slider starts at 15%, taken from this company's own free-cash-flow trend. That is history, not a forecast — this is your assumption, and the figure above is arithmetic on it. Returns are not steady year to year, and a real holding would not grow in a straight line. We do not publish price targets or predict returns.

Key ratios · latest quarter + price
₹7,545▲ +2.01%
latest close · 2026-11-04
52-wk low ₹583174 sessions so far52-wk high ₹7,990
Is it cheap or expensive?
What you pay for the profits, book value and cash flow. Higher isn't automatically worse — it can signal faster growth.
P/E ratio33.9High
LowAverageHigh
P/B ratio6.03High
Below bookModerateHigh
EV / EBITDA22.9High
LowAverageHigh
How good is the business?
How much profit it earns from its money and its sales.
Return on equity17.8%Strong
WeakFairStrong ▸15%
Return on capital23.6%Strong
WeakFairStrong
Net margin18.6%Strong
ThinDecentStrong
EBITDA margin27.2%Healthy
ThinDecentHealthy
Is it financially safe?
How much it owes, and whether it can comfortably cover it.
Debt to equity0.00Comfortable
LowModerateHigh ▸1
Interest cover60.9×Strong
RiskyOkayStrong ▸5×
Current ratio4.54Ample
Tight ◂1HealthyAmple
More figures
Market cap
₹17,526 cr
Book value
₹1,251
EPS
₹55.71
latest quarter
Net debt
₹-192 cr
more cash than debt
Enterprise value
₹17,334 cr
EBITDA
₹756 cr
annualised
EBIT
₹704 cr
annualised
Operating margin
25.3%
Return on assets
15.6%
Earnings yield
2.95%
P/S
6.30
Sales / share
₹1,197.6
Tax rate
25.2%
Face value
₹10
Shares
2.3 cr
Working capital
₹1,215 cr
Current assets
₹1,558 cr
Current liabilities
₹343 cr
Delivery %
43.6%
Strong / safeFairWeak / riskyValuation — a level, not good/badBands are general rules of thumb, not advice.

P/E, ROE, ROCE and margins are annualised from the latest quarter; per-share and balance-sheet ratios use the most recent balance sheet on file · prices as of 2026-11-04.

Worth vs price · from the FY 2025 report & filings
not investment advice
Hard to value confidentlyLow confidence
The market price is far above what these earnings- and book-based models support — a fast-growing or asset-light business can trade well above them for years, so we won't put a confident number on how overpriced it is.
Models span ₹1,285–₹1,826, midpoint ₹1,693

An educational model from the company's own filings, every assumption shown — not investment advice or a price target. Prices can stay above or below any model for years.

P&L · Q2 FY27 (consolidated)
Revenue from Operations₹696 cr
Other Income₹20 cr
Total Income₹715 cr
Cost of Materials₹295 cr
Purchases of Stock-in-Trade₹0 cr
Inventory Change (±)₹20 cr
Employee Benefit Expense₹51 cr
Finance Costs₹3 cr
Depreciation & Amortisation₹13 cr
Other Expenses₹160 cr
Total Expenses₹542 cr
Profit before Tax₹173 cr
Tax Expense₹44 cr
Net Profit₹129 cr
Net margin on total income18.1%
Where the money goes · Q2 FY27
% of total income
Materials + stock-in-trade₹315 cr44.1%
Employee benefit expense₹51 cr7.1%
Finance costs₹3 cr0.4%
Depreciation & amortisation₹13 cr1.8%
Other expenses₹160 cr22.4%
Tax expense₹44 cr6.1%
Profit for the period₹129 cr18.1%
Total income ₹715 cradds up to ₹100 ✓
Quarterly results · consolidated (₹ cr)
MetricQ4 FY26Q1 FY27Q2 FY27
Revenue597 cr633 cr696 cr
Total income618 cr653 cr715 cr
Expenses475 cr476 cr542 cr
Profit before tax142 cr176 cr173 cr
Tax34 cr44 cr44 cr
Net profit (owners' share)108 cr133 cr129 cr
Net margin (owners' share, on revenue)18.1%21.0%18.6%
EPS (₹)46.5857.1055.71
YoY (latest quarter): total income +22.5% · net profit +41.9%
Balance sheet & cash flow · as of Sep 2026
Debt-free
Total assets
₹3,320 cr
Shareholder equity
₹2,907 cr
parent shareholders
Total debt
₹0 cr
Cash
₹192 cr
Cash flow · H1 FY27
Operating
₹195 cr
Investing
₹-95 cr
Financing
₹-37 cr
Peer comparison
Plastic Products - Industrial · by market value
CompanyPriceMarket capP/E
Supreme Industries Limited₹3,300₹41,927 cr39.9
Astral Limited₹1,388₹37,343 cr77.6
Garware Hi-Tech Films Limitedthis company₹7,396₹17,180 cr33.2
Kingfa Science & Technology (India) Limited₹6,737₹9,130 cr28.5
Finolex Industries Limited₹138₹8,534 cr18.6
Time Technoplast Limited₹167₹8,218 cr17.7
Prince Pipes And Fittings Limited₹276₹3,050 cr16.0
Apollo Pipes Limited₹513₹2,261 cr—
Jain Irrigation Systems Limited₹28₹2,087 cr—
Same industry · latest reported numbers · not a recommendation.
Corporate actions
Dividend yield
0.16%
trailing 12 months
Dividend / share (TTM)
₹12
Last dividend
₹12
ex 16 Sep 2026
ActionDetailEx-date
Dividend₹12 / share16 Sep 2026
Dividend₹12 / share17 Sep 2025
Dividend₹10 / share17 Sep 2024
Dividend₹10 / share20 Sep 2023
Dividend₹10 / share19 Sep 2022
Dividend₹10 / share20 Sep 2021
Who owns it · 2026-09-30
No pledge
Promoter
60.7%
FII / Foreign
4.6%
DII / Domestic
7.3%
Retail / others
27.4%
Smart-money activity
Bulk / block deals
short— · NSE1028 Oct 26
short— · NSE43 Sep 26
short— · NSE15019 May 26
What shareholders were asked to approve

A company cannot decide everything on its own. Things like a top executive’s pay, issuing new shares, or re-appointing a director have to be put to the people who own the company, and they vote — one vote per share. So whoever owns the most shares has the most say.

Yearly shareholder meeting · 23 Sep 2026
See the official result
1
Adoption of Audited Standalone and Consolidated Financial Statements for the year ended 31st March, 2026, together with the reports of the Board of Directors and Auditors thereon.
Backed by 100% of shareholders other than promotersneeded 50%
19.86 L votes for, 3 against · 0% of mutual funds and other big investors said no
2
Declaration of final dividend on the equity shares for the financial year ended March 31, 2026.
Backed by 100% of shareholders other than promotersneeded 50%
19.86 L votes for, 3 against · 0% of mutual funds and other big investors said no
3
Re-appointment of Ms. Sonia Garware (DIN: 00135995), who retires by rotation and being eligible, offers herself for the re-appointment in terms of Section 152(6) of the Companies Act, 2013.
Promoters had a personal stake in this
Backed by 100% of shareholders other than promotersneeded 50%
19.81 L votes for, 5,274 against · 0% of mutual funds and other big investors said no
4
Ratification of the remuneration of Cost Auditors.
Backed by 100% of shareholders other than promotersneeded 50%
19.86 L votes for, 14 against · 0% of mutual funds and other big investors said no

Every vote count above is taken from the result the company filed with the stock exchange, certified by an independent counter. To work out what would have happened without the promoters, we simply remove their votes and re-apply the same legal bar the proposal had to clear. Nothing here is an estimate or an opinion.

Who controls this company, and what it pays them

Most Indian companies are controlled by a family or group — the promoters. The exchange requires them to be listed by name, including members who own no shares at all, and requires the company to disclose any business it does with them.

The promoter group — 12 named members
owning 60.7% between them · as of 2026-09-30
S B GARWARE FAMILY TRUST38.17%
B.D.Garware Research Centre Private Limited5.35%
SHASHIKANT BHALCHANDRA GARWARE5.01%
MONIKA GARWARE BENEFIT TRUST2.47%
SARITA GARWARE BENEFIT TRUST2.47%
Great View Real Estates Private Limited2.02%
SONIA SHASHIKANT GARWARE1.16%
MONIKA GARWARE1.15%
Business done with them
FY2026 · 5 of the group
The company paid ₹86 cr to companies in the promoter group last year — about 4.0% of its ₹2,120 cr revenue and received ₹3 L back from them.
GARWARE INDUSTRIEES LIMITED
Other payments to them · Sale of Goods, Purchase of Materials, Processing Charges, Rent; Rent Received
also owns 1.01% of the company
₹59 cr
company paid
SHASHIKANT BHALCHANDRA GARWARE
Other payments to them · Managerial Remuneration
also owns 5.01% of the company
₹15 cr
company paid
SARITA RAMSAY GARWARE
Other payments to them · Rent, Managerial Remuneration
also owns 1.15% of the company
₹11 cr
company paid
Great View Real Estates Private Limited
Other payments to them · Rent, Rent Received
also owns 2.02% of the company
₹72 L
company paid
Great View Real Estates Private Limited
Other income from them · Rent, Rent Received
also owns 2.02% of the company
₹1 L
company received
B. D. GARWARE RESEARCH CENTRE PRIVATE LIMITED
Other income from them · Rent Received
also owns 5.35% of the company
₹1 L
company received
GARWARE INDUSTRIEES LIMITED
Other income from them · Sale of Goods, Purchase of Materials, Processing Charges, Rent; Rent Received
also owns 1.01% of the company
₹1 L
company received

The company also transacted with 17 other related parties — subsidiaries, joint ventures, directors and others — that we could not match by name to the promoter list above. Some may still be connected to the family; we only count the ones the filings let us match with certainty.

Names and holdings from the company’s shareholding pattern filed with the exchange; transactions from the related-party note in its annual report. Every figure is as filed — these are legal, disclosed dealings, and what to make of them is your call.

How the stock has moved · adjusted for splits & bonuses
Data from primary exchange filings · analysis tool, not investment advice.