Garware Hi Tech Films Ltd

Garware Hi Tech Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

Garware Hi Tech Films Ltd

₹ 2,332 3.11%
22 Jul 4:01 p.m.
garwarehitechfilms.com BSE: 500655 NSE: GRWRHITECH
About

Garware Polyester is engaged in the business of manufacturing of Polyester Films.

Key Points

Market Position
Garware Hi-Tech Films Limited (Formally Known as Garware Polyester Limited) is the pioneer and the largest exporters of polyester films in India with an experience of 3 decades. Also it is the sole manufacture of Solar Control window films in India and among the only 2 companies in the world having patented technology for manufacturing the UV stabilized dyed films and the only Company in the world with backward integration for manufacturing of its own raw material and all components for manufacture of Solar control window films. [1] It is a market leader with more than 90% market share in Shrink film manufacturing in India. [2]

Website BSE NSE
  • Market Cap ₹ 5,415 Cr.
  • Current Price ₹ 2,332
  • High / Low ₹ 2,641 / 818
  • Stock P/E 26.6
  • Book Value ₹ 880
  • Dividend Yield 0.43 %
  • ROCE 13.9 %
  • ROE 10.4 %
  • Face Value ₹ 10.0
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Pros

  • Company has reduced debt.
  • Company is almost debt free.

Cons

  • Stock is trading at 2.66 times its book value
  • Company has a low return on equity of 9.66% over last 3 years.
  • Working capital days have increased from 48.9 days to 97.0 days

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: Packaging Industry: Packaging

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024
288 306 340 334 324 370 395 324 349 380 397 454 447
236 247 280 269 268 308 328 279 296 316 332 379 368
Operating Profit 52 59 59 65 55 62 67 45 53 64 65 75 78
OPM % 18% 19% 17% 19% 17% 17% 17% 14% 15% 17% 16% 17% 18%
6 7 10 8 15 8 9 7 17 9 9 9 12
Interest 5 4 5 5 5 4 4 4 5 4 4 2 2
Depreciation 7 7 7 7 7 7 8 8 10 10 10 10 10
Profit before tax 47 55 57 60 59 59 64 40 56 59 61 73 78
Tax % 32% 35% 24% 29% 23% 25% 25% 25% 23% 25% 24% 23% 26%
32 36 43 43 45 45 48 30 43 44 46 56 58
EPS in Rs 13.69 15.42 18.65 18.46 19.42 19.17 20.72 13.09 18.54 18.81 19.76 24.05 24.88
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Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
777 843 896 857 874 833 948 925 989 1,303 1,438 1,677
709 774 836 776 801 750 804 763 770 1,065 1,211 1,395
Operating Profit 69 69 60 81 73 83 144 162 219 238 227 282
OPM % 9% 8% 7% 9% 8% 10% 15% 17% 22% 18% 16% 17%
14 16 27 6 8 5 9 12 15 39 42 39
Interest 30 37 44 44 33 25 19 18 20 18 17 12
Depreciation 39 34 15 17 14 14 14 20 24 28 32 39
Profit before tax 13 14 27 27 34 50 120 135 190 231 220 270
Tax % -113% 26% 35% 38% 33% 34% 32% 36% 34% 28% 24% 25%
28 10 18 16 22 33 82 86 126 167 166 203
EPS in Rs 12.15 4.41 7.64 7.08 9.66 14.26 35.14 37.03 54.21 71.96 71.51 87.50
Dividend Payout % 0% 0% 0% 0% 10% 14% 28% 27% 18% 14% 14% 11%
Compounded Sales Growth
10 Years: 7%
5 Years: 12%
3 Years: 19%
TTM: 17%
Compounded Profit Growth
10 Years: 40%
5 Years: 20%
3 Years: 18%
TTM: 26%
Stock Price CAGR
10 Years: 37%
5 Years: 61%
3 Years: 36%
1 Year: 166%
Return on Equity
10 Years: 7%
5 Years: 9%
3 Years: 10%
Last Year: 10%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Equity Capital 23 23 23 23 23 23 23 23 23 23 23 23
Reserves 519 530 545 562 1,231 1,269 1,349 1,380 1,540 1,688 1,833 2,022
351 440 368 315 312 171 149 147 138 182 141 20
82 96 105 119 87 107 125 128 167 240 218 259
Total Liabilities 975 1,089 1,042 1,020 1,653 1,570 1,646 1,679 1,868 2,133 2,214 2,324
555 562 649 648 1,231 1,226 1,238 1,279 1,329 1,341 1,467 1,450
CWIP 39 86 11 5 8 10 11 20 11 96 10 2
Investments 1 1 1 1 29 36 120 116 226 274 393 363
380 441 381 366 386 298 277 264 302 423 344 508
Total Assets 975 1,089 1,042 1,020 1,653 1,570 1,646 1,679 1,868 2,133 2,214 2,324

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
48 22 91 101 77 134 141 99 199 172 218 172
-42 -78 -20 -5 -12 -5 -101 -44 -126 -141 -168 47
32 50 -107 -96 -40 -172 -49 -64 -36 6 -89 -169
Net Cash Flow 39 -6 -36 0 25 -43 -8 -9 38 37 -39 50

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Debtor Days 20 25 20 17 26 17 22 21 16 9 8 8
Inventory Days 80 107 93 111 90 82 70 100 128 145 109 132
Days Payable 27 30 30 36 39 54 68 62 89 76 57 73
Cash Conversion Cycle 74 102 82 91 77 44 24 58 54 79 60 67
Working Capital Days 49 70 55 50 49 25 7 19 9 26 23 97
ROCE % 5% 5% 7% 8% 5% 5% 9% 10% 13% 13% 12% 14%

Shareholding Pattern

Numbers in percentages

Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024
60.72% 60.72% 60.72% 60.72% 60.73% 60.73% 60.73% 60.73% 60.73% 60.73% 60.73% 60.73%
0.10% 0.11% 0.10% 0.07% 0.12% 0.08% 0.18% 0.12% 0.14% 0.12% 0.31% 0.52%
3.20% 3.24% 3.26% 3.22% 2.03% 2.39% 2.19% 2.35% 3.49% 3.77% 4.21% 4.76%
35.98% 35.93% 35.92% 36.00% 37.13% 36.80% 36.91% 36.81% 35.65% 35.38% 34.75% 34.00%
No. of Shareholders 29,41230,59930,83731,08631,17331,92432,02231,58030,41038,09239,31642,191

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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