India · Delayed Price · Currency is INR Garware Hi-Tech Films Earnings Call Transcripts
Fiscal Year 2027
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Q1 FY 2027 delivered record revenue and profitability, driven by a richer specialty product mix, strong growth in Sun Control and architectural films, and expanding direct-to-consumer channels. Guidance for FY 2027 is reaffirmed, with margin expansion expected from new capacity and innovation.
Fiscal Year 2026
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Record FY 2026 revenue and profitability achieved despite global headwinds, with strong Q4 recovery and robust growth in Sun Control and PPF segments. Strategic investments, D2C expansion, and new product launches position the company for 25% growth in FY 2027.
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Revenue and EBITDA declined modestly YoY due to a 50% U.S. tariff, but export sales remained robust at 74% of revenue. Strategic expansion in the Middle East and D2C channels, along with capacity additions, position the company for 15%-20% growth and margin recovery.
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Despite a challenging environment with steep U.S. tariffs, the company achieved 15% sequential revenue growth and maintained strong EBITDA margins, driven by export strength and robust performance in Sun Control and architectural films. Strategic expansions and a debt-free balance sheet support future growth.
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Revenue grew 4.3% year-on-year to INR 495 crore despite early monsoon and global tariff headwinds. EBITDA margin declined to 24.8% due to higher costs, while PPF segment grew 28%. U.S. tariffs and geopolitical risks remain key uncertainties.
Fiscal Year 2025
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Record FY 2025 revenue and PAT were driven by strong growth in Sun Control and PPF segments, with exports comprising 77% of sales. Expansion plans, new product launches, and robust financials support guidance for continued double-digit growth and margin improvement.
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Q3 FY25 saw stable year-over-year growth with revenue at INR 466.4 crores and PAT at INR 60.8 crores, despite seasonal softness. Nine-month revenue rose 27% and PAT 75% year-over-year, driven by strong demand and product innovation. Guidance for FY25 and FY26 remains unchanged.
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Q2 FY25 saw record revenue of INR 620.6 crores and PAT of INR 104.3 crores, with strong growth in PPF and SCF segments. Exports comprised 81% of sales, and EBITDA margin guidance remains at 25% ±3%. New capacity and product launches are set to drive future growth.
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Q1 FY 2025 saw record revenue and profitability, driven by high-end product growth and strong export performance. Margins reached historic highs, supported by product mix and operational efficiency, with robust outlook and capacity expansion plans in place.