Garware Hi-Tech Films Q2 FY27 Revenue Hits Record ₹696 Cr, EBITDA Up 42%
Garware Hi-Tech Films reported record Q2 FY27 revenue of ₹696 crore (up 22% YoY) and H1 FY27 revenue of ₹1,329 crore (up 25% YoY). Q2 EBITDA rose 42% to ₹189 crore with a 27.2% margin, while H1 EBITDA grew 49% to ₹381 crore with a 28.7% margin. The company is on track for capacity expansion and has partnered with Lubrizol.
The announcement includes record financial performance, significant growth in key metrics, and strategic initiatives like capacity expansion and new partnerships, which are expected to have a substantial positive impact on the company's future performance.
The company reported record revenues and significant year-on-year growth in EBITDA and PAT, exceeding its own guidance. Strategic initiatives like capacity expansion and partnerships with Lubrizol indicate positive future prospects.
Garware Hi-Tech Films Limited (GHFL) announced its unaudited financial results for the quarter and half-year ended September 30, 2026. The company achieved a record revenue of ₹696 crore for Q2 FY27, marking a 22% year-on-year (YoY) and 10% quarter-on-quarter (QoQ) growth. This strong performance was driven by robust demand and improved realizations across product segments, even amidst a slowdown in the Middle East.
EBITDA for the quarter increased by 42% YoY to ₹189 crore, with the EBITDA margin expanding by 377 basis points to 27.2% from 23.4% in Q2 FY26. This improvement is attributed to operating leverage and a favorable product mix, which helped offset higher raw material and logistics costs. Profit After Tax (PAT) also saw a significant jump of 42% YoY to ₹129 crore, with the PAT margin improving to 18.6% from 16.0% in the previous year.
For the half-year ended September 30, 2026, GHFL reported a revenue of ₹1,329 crore, a 25% YoY increase. The EBITDA for H1 FY27 grew by 49% YoY to ₹381 crore, with an EBITDA margin of 28.7%, exceeding the company's guidance range. PAT for H1 FY27 increased by 50% YoY to ₹262 crore.
Strategic initiatives include the ongoing commissioning of a TPU line expected in Q3 FY27 and an INR 191 crore SCF line slated for commercial production in H1 FY28. The company also signed an MoU with Lubrizol to develop advanced TPU-based film solutions. GHFL launched a state-of-the-art facility for switchable privacy film (PDLC) and introduced new car-care products and Ultra Series WF kits. The company expanded its global presence with two new Global Application Studios in the USA and scaled its domestic Garware Home Solutions (GHS) studios to 14, with plans for further expansion.
Dr. S. B. Garware, Chairman and Managing Director, commented that the company delivered exceptional performance despite headwinds and remains focused on sustainable growth. Ms. Monika Garware, Vice Chairperson and Joint Managing Director, highlighted the strong Q2 and H1 FY27 performance, driven by the business model, product mix, operational efficiencies, and focus on niche products. She also noted the upcoming capacity additions to address emerging market opportunities.
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