Summary of Key Information:

Reporting Period (Quarter/Year): Quarter and Half Year ended September 30, 2026

Nature of Filing / Announcement: Outcome of Board Meeting and Unaudited Financial Results

Audit Opinion:

Clean opinion with no modifications or qualifications. The limited review reports from J.H. Mehta & Co. and V Sankar Aiyar & Co. state that nothing has come to their attention that causes them to believe the statements contain any material misstatement.

Key Financial Highlights [Rs. in Crores]:

Standalone Results:

For Quarter Ended September 30, 2026:

  • Revenue from Operations: ₹634.09 (vs. ₹511.82 in Q2 FY26, +23.9% YoY; vs. ₹584.14 in Q1 FY27, +8.5% QoQ)
  • Total Income: ₹680.73
  • EBITDA: Not explicitly stated in standalone results
  • Net Profit: ₹139.87 (vs. ₹106.52 in Q2 FY26, +31.3% YoY; vs. ₹126.58 in Q1 FY27, +10.5% QoQ)
  • EPS: ₹60.20 (Basic and Diluted)
  • Other Equity: ₹2,818.34 (as of September 30, 2026)
  • Cash and Cash Equivalents: ₹35.98
  • Debt: Finance Cost of ₹1.57 for quarter indicates minimal debt

For Half Year Ended September 30, 2026:

  • Revenue from Operations: ₹1,218.23 (vs. ₹964.46 in H1 FY26, +26.3% YoY)
  • Total Income: ₹1,280.87
  • Net Profit: ₹266.45 (vs. ₹181.11 in H1 FY26, +47.1% YoY)
  • EPS: ₹114.69 (Basic and Diluted)

Consolidated Results:

For Quarter Ended September 30, 2026:

  • Revenue from Operations: ₹695.53 (vs. ₹569.69 in Q2 FY26, +22.1% YoY; vs. ₹633.08 in Q1 FY27, +9.9% QoQ)
  • Total Income: ₹715.06
  • EBITDA: ₹189 (as per press release)
  • Net Profit: ₹129.44 (vs. ₹91.23 in Q2 FY26, +41.9% YoY; vs. ₹132.65 in Q1 FY27, -2.4% QoQ)
  • EPS: ₹55.71 (Basic and Diluted)
  • Other Equity: ₹2,883.62 (as of September 30, 2026)
  • Cash and Cash Equivalents: ₹191.62

For Half Year Ended September 30, 2026:

  • Revenue from Operations: ₹1,328.61 (vs. ₹1,064.68 in H1 FY26, +24.8% YoY)
  • Total Income: ₹1,367.86
  • EBITDA: ₹381 (as per press release)
  • Net Profit: ₹262.09 (vs. ₹174.25 in H1 FY26, +50.4% YoY)
  • EPS: ₹112.81 (Basic and Diluted)

Segment-wise Performance:

The company operates in one segment only - Polyester Films - and therefore has only one reportable segment in accordance with IND AS 108.

Corporate Actions:

No dividend declarations, share splits, bonus issues, buybacks, or capital structure changes were announced in this filing.

Other Significant Information:

  • Capacity Expansion: TPU line commissioning on track for Q3 FY27; ₹191 Cr SCF line expected to commence commercial production in H1 FY28
  • Strategic Partnerships: Signed MoU with Lubrizol to develop advanced TPU-based film solutions
  • New Product Launches: Entered PDLC films for smart architecture; launched car-care products and Ultra Series WF kits
  • D2C Expansion: Expanded to 14 Garware Home Solutions studios (from 9 in Q1 FY27); plans to add 12 studios in Q3 targeting 50 studios by Dec'27
  • Global Expansion: Opened two new Global Application Studios in USA, taking total global network to 14 studios
  • Financial Guidance: Raised FY27 EBITDA margin guidance to 27% ±2% from previous range; reaffirmed FY27 revenue target of ₹2,500+ Cr
  • Liquidity Position: Cash and cash equivalents stood at ₹933 crore as of September 30, 2026
  • Working Capital: Working capital days stood at 29 days as of September 30, 2026