āagman

Not investment advice. Data and computed figures, for information only.

Garware Hi Tech Films Ltd

NSE: GRWRHITECH
₹7,094.50
−₹109.00 (−1.51%)
NSE · 15 Oct 2026, close
NSE
As of 31 Mar 2026
Market Cap
₹16,257 Cr
CMP
₹7,094.50
52-wk High / Low
₹7,990 / 2,691
P/E
41.9
P/B
6.1
Book Value
₹1,143.0
Div Yield
0.17%
ROCE
18.0%
ROE
13.5%
Face Value
₹10
D/E
0.00

Price+141.2% over 1Y

āagman read

Computed by āagman
Derived from 12 years and 13 quarters of filings. Not reported by the company.
As of 15 Oct 2026
How we compute these
Piotroski F-Score
3
/ 9
3 of 9 F-score tests passed
Graham Number
₹1,935
√(22.5 × EPS × book value per share)
ROIC
11.1%
vs 12.3% sector median
Cash flow to profit
0.81
CFO / PAT
Above 1.0 = operating cash flow exceeded reported profit
Margin change
+495
bps OPM YoY
Operating margin vs the same quarter last year
Sustainable growth
12.5%
ROE × earnings retention ratio
ROE stability
1.9
pp σ
Standard deviation of ROE across periods. Lower = more stable
Holder deltas
QoQ
pp
Prom +0.00FII +0.24DII +1.07
Latest quarter vs the previous one
Cash-accrual divergence
2.2%
of assets
Low = accruals track cash flow
Strengths
+Borrowings are down 100% since FY2016 (315 to 0)
+Price trades above its 200-day moving average (1.3x)
+FII holding rose by 4.0pp over the last year
+PE of 41.9x is below the sector median of 43.6x
Watch-outs
−Latest ROCE of 18% trails the sector median of 19%
−Annualised volatility of 52.1% is in the high band (≥45%)
−Piotroski F-Score of 3/9 is in the weak band (≤3)

Peer comparison

Peers
NameP/EMar Cap ₹ CrROCE %ROE %

Quarterly results

Consolidated basis (as filed) · ₹ Cr · 13 quarters
As of 30 Jun 2026
Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales380397454447474621466548495570459597633
Expenses316332379368356484385443385450388461461
Operating Profit646575781191378110411011970135172
OPM %16.8%16.4%16.5%17.4%25.1%22.1%17.4%19.0%22.2%20.9%15.3%22.6%27.2%
Other Income99912111412171314162120
Interest4422222222222
Depreciation10101010101010101111121213
Profit before tax596173781181388110911012073142176
Net Profit44465658881046178839156108133
EPS (₹)18.8119.7624.0524.8838.0344.8826.1733.4935.7339.2724.0146.5857.10

Profit & Loss

As of 30 Jun 2026
Consolidated · ₹ Cr · 12 years + TTM
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales8968578748339489259891,3031,4381,6772,1092,1202,258
Expenses8367768017508047637701,0651,2111,3951,6681,6851,761
Operating Profit60817383144162219238227282441435497
OPM %6.7%9.5%8.4%10.0%15.2%17.5%22.1%18.3%15.8%16.8%20.9%20.5%22.0%
Other Income2768591215394239546571
Interest44443325191820181712989
Depreciation15171414142024283239414547
Profit before tax27273450120135190231220270445446512
Net Profit181622338286126167166203331338388
EPS (₹)7.647.089.6614.2635.1437.0354.2171.9671.5187.50142.57145.59166.96

Balance Sheet

As of 30 Jun 2026
Consolidated · ₹ Cr
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026Jun 2026
Equity Capital232323232323232323232323—
Reserves5455621,2311,2691,3491,3801,5401,6881,8332,0222,3492,633—
Borrowings368315312171149147138182141000—
Other Liabilities10511987107125128167240218279310354—
Total Liabilities1,0421,0201,6531,5701,6461,6791,8682,1332,2142,3242,6823,010—
Fixed Assets6496481,2311,2261,2381,2791,3291,3411,4671,4501,4421,577—
CWIP115810112011961023927—
Investments112936120116226274393363643698—
Other Assets381366386298277264302423344508557709—
Total Assets1,0421,0201,6531,5701,6461,6791,8682,1332,2142,3242,6823,010—

Cash Flows

As of 31 Mar 2026
Consolidated · ₹ Cr
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity911017713414199199172218172330275
Cash from Investing Activity−20−5−12−5−101−44−126−141−16846−275−200
Cash from Financing Activity−107−96−40−172−49−64−366−89−169−52−60
Net Cash Flow−36025−43−8−93837−3948216

Ratios

As of 31 Mar 2026
12 periods
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %7.08.05.05.09.010.013.013.012.014.021.018.0
ROE %———————————13.5
EPS (₹)7.647.089.6614.2635.1437.0354.2171.9671.5187.50142.57145.59
Book Value (₹)———————————1,143.0
Face Value (₹)———————————10
P/E———————————41.9
Div Yield %———————————0.17
NPM %2.01.92.53.98.69.212.512.411.211.815.315.5
OPM %7.09.08.010.015.017.022.018.016.017.021.021.0
D/E0.650.540.250.130.110.100.090.110.080.000.000.00
P/B———————————6.1

Growth

As of 11 Oct 2026
Compounded sales growth
10 years+9.0%
5 years+16.0%
3 years+14.0%
TTM+6.0%
Compounded profit growth
10 years+36.0%
5 years+22.0%
3 years+27.0%
TTM+19.0%
Stock price CAGR
10 years+48.0%
5 years+51.0%
3 years+64.0%
Last year+138.0%
Return on equity
10 years9.0%
5 years12.0%
3 years13.0%
Last year13.0%

Shareholding pattern

As of 31 Mar 2026
Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters60.58%60.58%60.64%60.64%60.72%60.72%60.72%60.73%60.73%60.73%60.73%60.73%
FIIs0.01%0.01%0.01%0.00%0.00%0.03%0.10%0.18%0.31%3.50%3.98%4.22%
DIIs3.75%3.75%3.75%3.73%3.71%3.88%3.26%2.19%4.21%4.75%5.28%6.35%
Government————————————
Public35.66%35.66%35.60%35.63%35.57%35.37%35.92%36.91%34.75%31.03%30.04%28.72%
No. of shareholders27,73027,73022,55121,43220,48421,56030,83732,02239,31657,36454,49256,759
Change since Jun 2023 (pp)
Promoters +0.15FIIs +4.21DIIs +2.60Public −6.94

Documents

As of 11 Oct 2026
Announcements
Announcement under Regulation 30 (LODR)-Code of Conduct under SEBI (PIT) Regulations, 2015Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018Announcement under Regulation 30 (LODR)-Newspaper PublicationAnnouncement under Regulation 30 (LODR)-Analyst / Investor Meet - IntimationAnnouncement under Regulation 30 (LODR)-Newspaper Publication
Annual reports
Annual Report 2026Annual Report 2025Annual Report 2024Annual Report 2023Annual Report 2022
Credit ratings
Rating updateRating updateRating updateRating updateRating update
Concalls
Aug 2026TranscriptAug 2026PPTAug 2026RecordingMay 2026TranscriptMay 2026PPTMay 2026RecordingFeb 2026TranscriptFeb 2026PPTFeb 2026RecordingNov 2025TranscriptNov 2025PPTNov 2025RecordingAug 2025TranscriptAug 2025PPTAug 2025Recording

Corporate actions

As of 16 Sep 2026
16 Sep 2026DIVIDENDDividend - Rs 12 Per Share—
17 Sep 2025DIVIDENDDividend - Rs 12 Per Share—
17 Sep 2024DIVIDENDDividend - Rs 10 Per Share—
20 Sep 2023DIVIDENDDividend - Rs 10 Per Share—
19 Sep 2022DIVIDENDDividend - Rs 10 Per Share—
Fundamentals from a third-party compiler of exchange filings; prices from the exchanges. Not investment advice.© 2026 āagman