Event Type: Earnings Conference Call on Unaudited Financial Results / Business Performance for the Quarter and Half Year ended September 30, 2026.
Date and Time: The call was held on Friday, October 23, 2026. The specific time was not mentioned in the transcript.
Purpose: To discuss the company's Q2 and H1 FY27 financial results, business performance, and strategic outlook.
Management Participants: Mr. Deepak Joshi, Director Sales and Marketing, represented the management. The call was moderated by Ms. Garima Singla from Go India Advisors.
Availability of Materials: The transcript of the earnings call was filed with the stock exchanges and is also available on the company's website at https://www.garwarehitechfilms.com.
UPSI Statement: The moderator's opening remarks included a standard caution that the discussion may include forward-looking statements which must be viewed in conjunction with the risks the company faces. There was no explicit statement that no Unpublished Price Sensitive Information (UPSI) would be shared.
Financial Period Discussed: Q2 FY27 (Quarter ended September 30, 2026) and H1 FY27 (Half Year ended September 30, 2026).
Q2 FY27 Performance: Revenue was INR696 crores (up 22% YoY, 10% QoQ), EBITDA was INR189 crores (up 42% YoY) with a margin of 27.2%, and Profit After Tax (PAT) was INR129 crores (up 42% YoY).
H1 FY27 Performance: Revenue was INR1,329 crores (up 25% YoY), EBITDA was INR381 crores (up 49% YoY), and PAT was INR262 crores (up 50% YoY). Profit Before Tax (PBT) margin expanded 464 bps to 26.3%.
Revenue Mix: H1 revenue comprised 73% from Consumer Products Division (CPD) and 27% from Industrial Products Division (IPD). Value-added products accounted for 86% of total revenue.
Balance Sheet: Strong liquidity with cash and equivalents of INR933 crores as of September 30, 2026. Working capital stood at 29 days.
Guidance: The company upgraded its FY27 EBITDA margin guidance by 200 basis points to 27% ±2% while reaffirming its revenue target of more than INR2,500 crores.
Capacity Expansion: The new Thermoplastic Polyurethane (TPU) film line is on track for commissioning in Q3 FY27. A INR191 crores solar control film capacity expansion is progressing and is expected to commence commercial production in H1 FY28, adding ~1,200 lakh square feet of fungible capacity.
Strategic Partnerships: The strategic MOU with Lubrizol aims to develop advanced TPU-based film solutions.
International Business: The company serves customers in over 90 countries. Two new global application studios were opened in the US in Q2, taking the total international network to 14 studios.
Domestic Growth (Garware Home Solutions): The studio network expanded from 9 to 14 in Q2, with a plan to add 12 more in Q3. The long-term target is to reach 50 studios by December 2027.
Additional Notes Section
Attachments: The regulatory filing intimates that the transcript of the earnings conference call was enclosed and uploaded to the company website.
Financial Data: Extensive financial data and operational metrics were discussed in detail during the call, as captured in the transcript.
Compliance: The document is a formal submission to BSE Limited and the National Stock Exchange of India Ltd. pursuant to Regulation 30 and 46 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. It is digitally signed by the Company Secretary.
