Garware Hi-Tech Films Ltd
Garware Hi-Tech Films: Q2 FY27 Revenue INR 696 Crore, PAT up 42% YoY
RESULTS
▲ Positive Development
LOW RISK
📅 Filed on BSE: 22 Oct 2026, 12:17 PM IST · BSE ID: 7e7a7d56-0a01-4325-85ca-49fdab848471
View Original BSE Filing (PDF)
💡
In Simple Terms
Garware Hi-Tech Films reported higher quarterly sales and profits, and updated its full-year earnings forecast.
🤖 AI Summary
- Garware Hi-Tech Films reported Q2 FY27 consolidated revenue of INR 696 crore, a 22% YoY increase.
- Profit After Tax (PAT) for Q2 FY27 increased 42% YoY to INR 129 crore.
- Company raised FY27 EBITDA guidance by 200 bps to 27% ±2%, reaffirming INR 2,500+ Cr revenue target.
- Cash and cash equivalents stood at INR 933 crore as of September 30, 2026.
- H1 FY27 consolidated revenue reached INR 1329 crore, with PAT at INR 262 crore, up 50% YoY.
🔢 Key Numbers — exact figures from BSE filing, not rounded
Revenue from operations (Q2 FY27)
696 INR crores
22%
PAT (Q2 FY27)
129 INR crores
42%
EBITDA Margin % (Q2 FY27)
27.2%
377 bps
EPS in (INR) (Q2 FY27)
55.7 INR
42%
Revenue from operations (H1 FY27)
1329 INR crores
25%
PAT (H1 FY27)
262 INR crores
50%
Cash and cash equivalents
933 INR crore
🏢 How This Affects the Company
The company recorded a record-breaking revenue performance of INR 696 crore, driven by robust demand and improved realizations across product segments. Strategic collaborations, product innovation, and global expansion efforts are expanding its market reach and product portfolio.
PAT increased 42% YoY to INR 129 crore, with PAT margin expanding to 18.6% from 16.0% in Q2 FY26. The company also raised its FY27 EBITDA guidance to 27% ±2%, indicating expected sustained profitability.
The TPU line commissioning is on track for Q3 FY27, and a new INR 191 crore SCF line is expected to commence commercial production in H1 FY28, adding ~1,200 LSF of fungible capacity. This expands manufacturing capabilities.
The filing acknowledges a slowdown in the Middle East due to ongoing conflict, which could present geopolitical headwinds for global sales, despite strong performance this quarter.
👥 What This Means For Shareholders
✅
Action Required
No immediate action is required from shareholders based on this financial results announcement.
👤
Who Is Affected
Shareholders are affected by the company's financial performance, which showed strong revenue and profit growth in Q2 FY27 and H1 FY27, with EPS of INR 55.7 for Q2 FY27 and INR 112.8 for H1 FY27.
🔍
Management Signal
Management is focused on capacity expansion, strategic collaborations, and global market penetration, signaling a commitment to sustained growth and improved profitability.
For information only. Not investment advice. ForgeUp is not SEBI-registered.
👁 Watch List — track these upcoming events
Q3 FY27 financial results — check TPU line commissioning impact on revenue.
Update on INR 191 crore SCF line commercial production in H1 FY28.
Progress on adding 12 Garware Home Solutions studios in Q3 FY27.
LOW RISK
The company reported strong financial performance, raised guidance, and has ongoing expansion plans.
💡 Investor Takeaway
Garware Hi-Tech Films reported consolidated Q2 FY27 revenue of INR 696 crore, up 22% YoY, and PAT of INR 129 crore, up 42% YoY. The company reaffirmed its INR 2,500+ Cr revenue target and raised its FY27 EBITDA guidance by 200 bps to 27% ±2%.
⚖️ Strengths & Concerns
✅ Positives
- Revenue from operations reached a record INR 696 crore in Q2 FY27, marking a 22% YoY and 10% QoQ growth.
- PAT increased by 42% YoY to INR 129 crore in Q2 FY27, with PAT margin expanding to 18.6% from 16.0% in Q2 FY26.
⚠️ Concerns
- EBITDA margin in Q2 FY27 was 27.2%, a decrease of (311) bps from Q1 FY27's 30.3%, indicating a quarter-on-quarter contraction.
- PBT in Q2 FY27 saw a (2)% QoQ decrease to INR 173 crore from INR 176 crore in Q1 FY27.
📅 Company Track Record
Garware Hi-Tech Films reported record Q1 FY27 revenue of Rs 633 crore and PAT up 60% YoY to Rs 133 crore, as per August 6, 2026 filings. This Q2 FY27 filing continues the trend of strong revenue and PAT growth observed in the prior quarter.
Based on publicly available historical data. For context only.
❓ Frequently Asked Questions
What was Garware Hi-Tech Films' consolidated revenue in Q2 FY27?
Garware Hi-Tech Films reported consolidated revenue from operations of INR 696 crore for the quarter ended September 30, 2026.
How much did Garware Hi-Tech Films' PAT increase in Q2 FY27?
Profit After Tax (PAT) for Garware Hi-Tech Films increased by 42% YoY to INR 129 crore in Q2 FY27.
What is Garware Hi-Tech Films' updated FY27 EBITDA guidance?
Garware Hi-Tech Films raised its FY27 EBITDA guidance by 200 bps to 27% ±2%, while reaffirming its INR 2,500+ Cr revenue target.
What was Garware Hi-Tech Films' cash and cash equivalents as of September 30, 2026?
Cash and cash equivalents for Garware Hi-Tech Films stood at INR 933 crore as of September 30, 2026.
What is the status of Garware Hi-Tech Films' TPU line commissioning?
The TPU line commissioning for Garware Hi-Tech Films remains on track for Q3 FY27.
Questions based on this BSE filing only. For information purposes.