Garware Hi-Tech Films Q2 Profit Surges To ₹129 Crore, Revenue Jumps 22% On Strong Demand

Mumbai: Garware Hi-Tech Films Limited (GHFL) announced its unaudited financial results for the quarter and half year ended 30 September 2026 on October 22, 2026. The company reported a net profit of ₹129 crore for the second quarter of financial year 2027 (Q2 FY27), up from ₹91 crore in the corresponding period of the previous year.

Financial Performance

Revenue from operations stood at ₹696 crore in Q2 FY27, a 22% increase from ₹570 crore in Q2 FY26. Earnings Before Interest, Taxes, Depreciation, and Amortisation (EBITDA) rose 42% to ₹189 crore, with the EBITDA margin expanding to 27.2% from 23.4% in the same quarter last year.

Profit Before Tax (PBT) for Q2 FY27 was ₹173 crore, a 44% rise from ₹120 crore in Q2 FY26. The PBT margin increased to 24.9% from 21.1% year-on-year, the company said.

Half-Year Highlights

For the half year ended September 30, 2026, GHFL reported a 50% increase in net profit to ₹262 crore, compared to ₹174 crore in the previous half year. Revenue from operations for the half year grew by 25% to ₹1,329 crore, up from ₹1,065 crore in H1 FY26.

EBITDA for H1 FY27 reached ₹381 crore, a 49% increase from ₹256 crore in H1 FY26. The half-year EBITDA margin stood at 28.7%, the company stated.

Capacity Expansion and Partnerships

GHFL expects its TPU line to be commissioned in Q3 FY27, while the ₹191 crore SCF line is projected to start commercial production in H1 FY28. The company also signed a Memorandum of Understanding (MoU) with Lubrizol to develop TPU-based film solutions in India.

Market Expansion

The company opened two new Global Application Studios (GAS) in the USA during Q2 FY27, bringing the total global network to 14 studios. Domestically, Garware Home Solutions (GHS) studios increased to 14, with plans to add 12 more in Q3 FY27.

Management Commentary

S. B. Garware, Chairman and Managing Director, said the company delivered a strong performance despite challenges and remained focused on sustainable growth. Monika Garware, Vice Chairperson and Joint Managing Director, added that the H1 EBITDA margin of 28.7% reflects the business model's strength and operational efficiencies.

Liquidity and Working Capital

Cash and cash equivalents were ₹933 crore as of September 30, 2026. Working capital days were stable at 29 days as of the same date, compared to 28 days in FY26.

Disclaimer: This story is based on company exchange filings and is for informational purposes only. Investors should evaluate risks before making decisions.