Garware Hi-Tech Films Limited Clocks 21% Growth In Q1 Revenue

Highlights: Q1 FY23 Consolidated

Revenues up by 21% at Rs 370 crores VIS-À-VIS Rs 306 crores in Q1 FY22

EBIDTA up by 7% at Rs 71 crores VIS-À-VIS Rs 66 crores in Q1 FY22 PAT up by 24% at Rs 45 crores VIS-À-VIS Rs 36 crores in Q1 FY22

Garware Hi-Tech Films Limited (GHFL) (formerly known as Garware Polyester Limited), the flagship company of Garware Group and a leading player in specialty  Polyester  Films in India and Worldwide announced results for the first quarter ended June 30, 2022.

The management’s vision and continued focus on unique products and value-added films, along with a  higher share of consumer products have further enhanced the company’s growth trajectory which is visible in its financial performance.

Commenting on GHFL’s journey, Shri S. B. Garware, Chairperson and Managing Director,  GHFL  said, “The company’s transitioning towards a B2C company providing highly specialized and value-added products in the marketplace is seen in its growth trajectory and the efforts put in over last few years are clearly visible in the financial results. GHFL continues to craft a unique position for itself in the marketplace with a variety of offerings catering to individuals and industry by leveraging on its technology and in-house expertise. During the current year, we are increasingly optimistic about growing our sales network of dealers, distributors, and applicators in key markets across geographies.”

“I am extremely delighted to report that our company continues to consolidate its position during the quarter under review as we continue to accelerate our topline growth momentum. On the export front earnings remain robust and the outlook for the year ahead continues to remain positive,” said Ms. Monika Garware, Vice-Chairperson, and Jt. Managing Director, GHFL.

About Garware Hi-Tech Films Limited (GHFL)

Garware Hi-Tech Films Limited (BOM: 500655) (NSE: GRWRHITECH) is the flagship company of the Garware group co-promoted by Chairman and Managing Director Shri S.B. Garware in the year 1957 along with the Founder-Chairman Late Padmabhushan Dr. B. D. Garware.

GHFL manufactures Hi-Tech specialty performance polyester Films and has its state-of-the-art manufacturing facility at Aurangabad, Maharashtra, India. GHFL is the pioneer and one of the largest exporters of Polyester Films in India. GHFL has been a winner of top exporters’ awards for 33 continuous years from PLEXCOUNCIL.

GHFL manufacturing facility at Aurangabad is vertically integrated, from the manufacture of polyester chips to polyester film finished products with four independent manufacturing lines and a  business that spans globally. Polyester Films manufactured by GHFL are used for a variety of end applications.

GHFL also manufactures various coated products and co-extruded products for specialty applications, apart from its capacity to design the recipe for raw material of PET films to suit the end application of the product. The company has developed surface-protection films and Paint Protection Films designed to deliver the highest level of protection and impact resistance which have applications in many sectors.