Garware Hi-Tech

₹1625.9 58 | 3.7%

WEBSITE BSE:500655 NSE : GRWRHITECH 10 May, 16:01

Market Cap ₹3777 Cr.

Stock P/E 20.0

P/B 1.9

Current Price ₹1625.9

Book Value ₹ 853.2

Face Value 10

52W High ₹2197

Dividend Yield 0.62%

52W Low ₹ 576

Edit Ratio

Garware Hi-Tech Research see more...

Overview Inc. Year: 1957Industry: Plastic Products

Garware Hi-Tech Films Ltd manufactures and sells polyester films in India and internationally. The corporation provides bi-axially orientated polyethylene terephthalate/polyester films, sun control films, thermal lamination films, and speciality polyester films, as well as heat rejection films, paint protection films and shrink films. Its polyester films are utilized in various application, such as label utility, electric cable insulations, packaging, face shields, thermal, TV monitors, graphics and many others. The agency was previously referred to as Garware Polyester Ltd and changed its name to Garware Hi-Tech Films Ltd in April 2021. Garware Hi-Tech Films Ltd was founded in 1933 and is based in Mumbai, India.

Garware Hi-Tech Share Price

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Peer Comparison

Garware Hi-Tech Quarterly Results

#(Fig in Cr.)	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023
Net Sales	340	334	324	370	395	324	349	380	397	454
Other Income	10	8	15	9	9	7	17	9	9	9
Total Income	349	341	339	378	404	332	366	389	406	463
Total Expenditure	280	269	268	308	328	279	296	316	332	379
Operating Profit	69	72	71	71	76	52	70	73	74	85
Interest	5	5	5	4	4	4	5	4	4	2
Depreciation	7	7	7	7	8	8	10	10	10	10
Exceptional Income / Expenses	0	0	0	0	0	0	0	0	0	0
Profit Before Tax	57	60	59	59	64	40	56	59	61	73
Provision for Tax	14	17	14	15	16	10	13	15	15	17
Profit After Tax	43	43	45	45	48	30	43	44	46	56
Adjustments	0	0	0	0	0	0	0	0	0	0
Profit After Adjustments	43	43	45	45	48	30	43	44	46	56
Adjusted Earnings Per Share	18.7	18.5	19.4	19.2	20.7	13.1	18.5	18.8	19.8	24.1

Garware Hi-Tech Profit & Loss

#(Fig in Cr.)	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	TTM
Net Sales	778	843	896	857	874	833	948	925	989	1303	1438	1580
Other Income	8	10	27	6	10	6	9	12	16	39	42	44
Total Income	786	853	923	864	884	839	957	937	1005	1342	1480	1624
Total Expenditure	709	774	837	776	801	750	804	763	771	1065	1211	1323
Operating Profit	77	79	87	87	83	89	153	174	234	277	269	302
Interest	30	37	44	44	35	26	19	19	20	18	17	15
Depreciation	39	34	15	17	14	14	14	20	24	28	32	40
Exceptional Income / Expenses	6	6	0	0	0	0	0	0	0	0	0	0
Profit Before Tax	13	14	27	27	34	50	120	135	190	231	220	249
Provision for Tax	-15	4	9	10	11	17	38	49	64	64	54	60
Profit After Tax	28	10	18	16	22	33	82	86	126	167	166	189
Adjustments	0	0	0	0	0	0	0	0	0	0	0	0
Profit After Adjustments	28	10	18	16	22	33	82	86	126	167	166	189
Adjusted Earnings Per Share	12.2	4.4	7.7	7.1	9.7	14.3	35.1	37	54.2	72	71.5	81.2

Growth Rates

#	1 Year	3 Year	5 Year	10 Year
Sales CAGR	10%	16%	12%	6%
Operating Profit CAGR	-3%	16%	25%	13%
PAT CAGR	-1%	25%	38%	19%

#	1 Year	3 Year	5 Year	10 Year
Share Price CAGR	180%	30%	51%	36%
ROE Average	9%	9%	8%	6%
ROCE Average	12%	13%	12%	9%

Garware Hi-Tech Balance Sheet

#(Fig in Cr.)	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Shareholder's Funds	597	608	569	585	1254	1292	1372	1404	1564	1711	1856
Minority's Interest	0	0	0	0	0	0	0	0	0	0	0
Borrowings	75	73	61	35	18	137	113	131	112	130	85
Other Non-Current Liabilities	25	29	37	45	-56	-53	-40	-21	12	31	36
Total Current Liabilities	278	379	376	354	375	134	153	141	181	261	238
Total Liabilities	975	1089	1042	1020	1591	1511	1599	1654	1868	2133	2214
Fixed Assets	555	562	649	648	1231	1226	1238	1279	1329	1341	1467
Other Non-Current Assets	134	171	100	95	57	53	61	71	104	195	96
Total Current Assets	286	357	293	277	304	231	300	304	434	598	651
Total Assets	975	1089	1042	1020	1591	1511	1599	1654	1868	2133	2214

Garware Hi-Tech Cash Flow

#(Fig in Cr.)	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Opening Cash & Cash Equivalents	64	102	96	60	59	84	42	34	25	63	99
Cash Flow from Operating Activities	48	22	91	101	77	134	141	99	199	172	218
Cash Flow from Investing Activities	-42	-78	-20	-5	-12	-5	-101	-44	-126	-141	-170
Cash Flow from Financing Activities	32	50	-107	-96	-40	-172	-49	-64	-36	6	-89
Net Cash Inflow / Outflow	39	-6	-36	0	25	-43	-8	-9	38	37	-41
Closing Cash & Cash Equivalent	102	96	60	60	84	42	34	25	63	99	60

Garware Hi-Tech Ratios

#	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Earnings Per Share (Rs)	12.18	4.42	7.66	7.09	9.66	14.26	35.14	37.03	54.21	71.96	71.51
CEPS(Rs)	29.11	18.84	14.2	14.39	15.61	20.13	41.11	45.76	64.53	84.09	85.46
DPS(Rs)	0	0	0	0	1	2	10	10	10	10	10
Book NAV/Share(Rs)	189.72	194.56	201.12	208.32	539.68	556.06	590.63	604.21	673.01	736.42	798.81
Core EBITDA Margin(%)	8.47	7.77	6.32	8.98	7.92	9.89	15.2	17.48	22.04	18.26	15.77
EBIT Margin(%)	5.31	5.78	7.56	7.77	7.48	9	14.69	16.63	21.21	19.12	16.45
Pre Tax Margin(%)	1.64	1.57	2.88	2.95	3.66	5.92	12.65	14.57	19.22	17.72	15.27
PAT Margin (%)	3.48	1.16	1.89	1.83	2.44	3.93	8.61	9.3	12.73	12.82	11.53
Cash Profit Margin (%)	8.33	4.94	3.5	3.71	3.95	5.55	10.07	11.5	15.16	14.98	13.78
ROA(%)	3.12	1	1.67	1.6	1.72	2.14	5.25	5.29	7.15	8.36	7.64
ROE(%)	6.63	2.3	3.87	3.47	2.58	2.6	6.13	6.2	8.49	10.21	9.32
ROCE(%)	5.81	6.09	8.26	8.58	5.81	5	9.32	9.95	12.78	13.74	12.07
Receivable days	14.29	20.88	20.56	17.95	20.34	21.81	18.27	21.44	17.41	10.54	8.01
Inventory Days	48.04	50.4	55.31	55.23	49.4	44.98	34.73	37.48	42.19	46.82	51.85
Payable days	24.06	26.42	28.93	36.23	37.28	48.25	59.93	70.83	78.29	67.65	58.6
PER(x)	5.99	14.27	13.33	13.19	12.77	10.76	6.19	4.47	12.9	9.69	7.32
Price/Book(x)	0.38	0.32	0.51	0.45	0.23	0.28	0.37	0.27	1.04	0.95	0.65
Dividend Yield(%)	0	0	0	0	0.81	1.3	4.59	6.05	1.43	1.43	1.91
EV/Net Sales(x)	0.54	0.58	0.61	0.55	0.59	0.58	0.65	0.56	1.73	1.32	0.91
EV/Core EBITDA(x)	5.43	6.24	6.3	5.42	6.21	5.39	4.02	2.96	7.31	6.17	4.83
Net Sales Growth(%)	-2.37	8.45	6.29	-4.33	1.94	-4.66	13.75	-2.43	6.94	31.71	10.39
EBIT Growth(%)	-30.11	18.76	39.12	-1.68	-2.02	10.25	83.78	10.45	36.36	18.85	-4.96
PAT Growth(%)	-11.41	-63.68	73.14	-7.39	36.04	47.59	146.5	5.35	46.42	32.73	-0.62
EPS Growth(%)	-11.41	-63.69	73.23	-7.39	36.16	47.59	146.5	5.35	46.42	32.73	-0.62
Debt/Equity(x)	0.6	0.76	0.79	0.65	0.25	0.13	0.11	0.12	0.1	0.12	0.08
Current Ratio(x)	1.03	0.94	0.78	0.78	0.81	1.72	1.95	2.16	2.39	2.29	2.74
Quick Ratio(x)	0.68	0.55	0.41	0.4	0.51	1.01	1.4	1.42	1.71	1.48	1.9
Interest Cover(x)	1.45	1.37	1.62	1.61	1.95	2.92	7.18	8.05	10.66	13.66	13.94
Total Debt/Mcap(x)	1.74	2.62	1.55	1.44	1.09	0.48	0.3	0.42	0.09	0.12	0.13

Garware Hi-Tech Shareholding Pattern

#	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Promoter	60.72	60.72	60.72	60.72	60.72	60.72	60.72	60.72	60.72	60.72
FII	0.11	0.1	0.07	0.11	0.07	0.17	0.11	0.13	0.11	0.3
DII	3.24	3.27	3.22	2.04	2.4	2.2	2.36	3.51	3.79	4.22
Public	35.93	35.92	36	37.13	36.81	36.91	36.81	35.65	35.39	34.76
Others	0	0	0	0	0	0	0	0	0	0
Total	100	100	100	100	100	100	100	100	100	100

#	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Promoter	1.41	1.41	1.41	1.41	1.41	1.41	1.41	1.41	1.41	1.41
FII	0	0	0	0	0	0	0	0	0	0.01
DII	0.08	0.08	0.07	0.05	0.06	0.05	0.05	0.08	0.09	0.1
Public	0.83	0.83	0.84	0.86	0.86	0.86	0.86	0.83	0.82	0.81
Others	0	0	0	0	0	0	0	0	0	0
Total	2.32	2.32	2.32	2.32	2.32	2.32	2.32	2.32	2.32	2.32

Pros

Company has delivered good profit growth of 38% CAGR over last 5 years
Debtor days have improved from 67.65 to 58.6days.
Company has reduced debt.
Company is almost debt free.

Cons

Company has a low return on equity of 9% over the last 3 years.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Garware Hi-Tech News

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Garware Hi-Tech

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Garware Hi-Tech Research see more...

Overview Inc. Year: 1957Industry: Plastic Products

Garware Hi-Tech Share Price

Alert Data

Quarterly Price

Peer Comparison

Garware Hi-Tech Quarterly Results

Garware Hi-Tech Profit & Loss

Growth Rates

Garware Hi-Tech Balance Sheet

Garware Hi-Tech Cash Flow

Garware Hi-Tech Ratios

Garware Hi-Tech Shareholding Pattern

Garware Hi-Tech News

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