Garware Hi-Tech Films Q2 FY27 Revenue Surges 22% to ₹696 Cr, EBITDA Up 42%
Garware Hi-Tech Films reported a record Q2 FY27 revenue of ₹696 crore, up 22% YoY. EBITDA surged 42% to ₹189 crore with a 27.2% margin. H1 FY27 revenue rose 25% to ₹1,329 crore. The company expects FY27 revenue over ₹2,500 crore and has upgraded FY27 EBITDA margin guidance to 27% ± 2%.
The record financial performance, capacity expansions, strategic partnerships, and upgraded guidance indicate a strong positive outlook for the company's future growth and profitability.
The company reported record revenue and significant growth in EBITDA and profit after tax, exceeding previous performance and upgrading future guidance.
Garware Hi-Tech Films Limited announced its financial results for the quarter and half-year ended September 30, 2026. The company achieved a record quarterly revenue of ₹696 crore, a 22% year-on-year increase and 10% sequentially. EBITDA grew by 42% year-on-year to ₹189 crore, with a margin of 27.2%, and profit after tax also rose by 42% to ₹129 crore.
For the half-year ended September 30, 2026, revenue increased by 25% to ₹1,329 crore. EBITDA grew by 49% to ₹381 crore, and profit after tax rose by 50% to ₹262 crore.
The company highlighted strong demand, improved realization, and a favorable product mix as key drivers for its performance, despite geopolitical headwinds. The business mix for H1 FY27 comprised 73% from CPD and 27% from IPD, with value-added products accounting for 86% of revenue.
Garware Hi-Tech Films is advancing its product development with capabilities in PDLC films and the introduction of Ultra Series window film kits in its car care portfolio. The thermoplastic polyurethane (TPU) film line is on track for commissioning in Q3 FY27, supported by a strategic MOU with Lubrizol. Additionally, a ₹191 crore solar control film capacity expansion is progressing, with commercial production expected in H1 FY28.
The company expanded its international presence by opening two new global application studios in the United States, bringing the total to 14. The Garware Home Solutions business is also growing, with plans to expand its studio network. The company has upgraded its FY27 EBITDA margin guidance by 200 basis points to 27% plus-minus 2%, while reaffirming its revenue target of more than ₹2,500 crore.
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