Garware Poly

Aurangabad, India Founded: 1976 • Age: 50 yrs Listed
Specialty polyester films are manufactured for diverse industrial applications.
Request Access
Report Incorrect Data
Page last updated

About Garware Poly

Garware Poly is a publicly listed company based in Aurangabad (India) founded in 1976. It operates as a specialty polyester films are manufactured for diverse industrial applications. The company has 2,000 employees. Its Indian entity Garware Hi-Tech Films Limited reported revenue of ₹2,164 Cr. Garware Poly offers products and services including Polyester Films (BOPET) and Paint Protection Films.

Company details

Founded in 1976 in Aurangabad, India, operations are focused on the production of specialty polyester films within the manufacturing sector. These films are applied in automotive paint protection, sun control, shrink label packaging, reprographics, and electrical insulation. Advanced technologies, such as nano-dispersion, are utilized in the manufacturing process. A vertically integrated approach is maintained to support quality control, with products supplied to industries across global markets.

Key Metrics
  • Market Cap
    ₹16,164 Cr

    GRWRHITECH · NSE

  • Share Price
    ₹6,702.50

    -3.67% today

  • Revenue
    ₹2,120 Cr

    FY 2025-26 · +0.5% YoY

  • EBITDA
    ₹435 Cr

    Margin 20.5%

  • Net Profit
    ₹338 Cr

    FY 2025-26 · +2.1% YoY

  • P/E (TTM)
    41.8x

    P/B 6.1x

  • ROE
    13.4%

    ROCE 18.0%

  • Employee Count
    2,000

Products & Services of Garware Poly

Garware Poly offers a comprehensive portfolio of products and services, including Polyester Films (BOPET) and Paint Protection Films.

Polyester Films (BOPET)
Specialty Films

Polyester films are produced for applications like packaging and electrical uses, emphasizing customization and eco-friendliness

Paint Protection Films
Automotive Protection

Paint protection films are manufactured to shield vehicles from scratches and damage, incorporating self-healing properties

Apps and channels of Garware Poly

its YouTube channel Garware Hi-Tech Films Limited has 472 subscribers and 16 videos.

Garware Hi-Tech Films Limited
YouTube 472 subscribers 16 videos Science & Technology
Open channel

Videos from Garware Poly

The most watched videos on Garware Poly's YouTube channel, Garware Hi-Tech Films Limited (472 subscribers). Click a video to play it here.

Garware Paint Protection Film
1.8K views
Titanium Paint Protection Film
220 views
Garware PPF
142 views
Architectural World Class Training Center
137 views

More on Garware Hi-Tech Films Limited.

Board of directors of Garware Hi-Tech Films Limited (Garware Poly)

Garware Hi-Tech Films Limited is the primary company behind Garware Poly. The board of Garware Hi-Tech Films Limited currently have 11 directors; the longest-serving is Shashikant Bhalchandra Garware, appointed in 1957. 29 earlier directors have ceased.

DirectorDesignationAppointedTenureEntity
Shashikant Bhalchandra Garware
DIN 00943822
Managing Director06 Jun 195769 yrs 4 moGarware Hi-Tech Films Limited
Monika Garware
DIN 00143400
Managing Director31 Mar 198937 yrs 6 moGarware Hi-Tech Films Limited
Sonia Garware
DIN 00135995
Director31 Jan 200719 yrs 8 moGarware Hi-Tech Films Limited
Vivekanand Heroor Kamath
DIN 07260441
Director08 Aug 20188 yrs 2 moGarware Hi-Tech Films Limited
Devanshi Hemant Nanavati
DIN 08770422
Director25 Jun 20206 yrs 3 moGarware Hi-Tech Films Limited
Sarita Garware Ramsay
DIN 00136048
Managing Director12 Jul 20224 yrs 3 moGarware Hi-Tech Films Limited
Manoj Kishorchandra Sonawala
DIN 00235168
Director01 Apr 20242 yrs 6 moGarware Hi-Tech Films Limited
Deepak Nityanand Chawla
DIN 10497108
Director01 Apr 20242 yrs 6 moGarware Hi-Tech Films Limited
Nayan Jagdishchandra Rawal
DIN 00184945
Director01 Apr 20242 yrs 6 moGarware Hi-Tech Films Limited
Chirag Himatlal Doshi
DIN 08532321
Director01 Sep 20242 yrs 1 moGarware Hi-Tech Films Limited
Uday Vasantrao Joshi
DIN 09753984
Whole-Time Director01 Feb 20268 moGarware Hi-Tech Films Limited

IPO & Listings of Garware Poly

Garware Poly is a publicly listed company on the NSE with ticker symbol GRWRHITECH in India, operating in the Process industries sector. As a publicly traded entity, the company provides investors with opportunities to participate in its growth story through equity ownership. The listing enables access to capital markets, enhances corporate visibility, and provides liquidity for shareholders while maintaining transparency through regulatory compliance and regular financial disclosures.

  • IPO date19 Jan 1982
  • Listed onBSE: 500655
  • Listed entityGarware Hi-Tech Films Limited
  • Exchange sectorProcess industries
  • ISININE291A01017
  • Share price₹7,203.50 (+0.03% on the day) · 2026-10-14
  • Market capitalisation₹16,728 Cr
  • Price to earnings43.1
  • EPS (diluted, trailing year)₹166.95
  • Dividend yield0.17%
  • Volume (last session)27,303

Financials of Garware Poly

Exchange-reported figures of Garware Hi-Tech Films Limited, the listed company behind Garware Poly (NSE: GRWRHITECH).

Financial Highlights

FY 2025-26 · Consolidated
Revenue
₹2,120 Cr
+0.5% YoY
EBITDA
₹435 Cr
-1.4% YoY
Profit After Tax
₹338 Cr
+2.1% YoY
Net Worth
₹2,656 Cr
+12.0% YoY
Total Assets
₹2,672 Cr
+11.9% YoY
Total Debt
Nil

Revenue vs Net Profit ₹ Cr

Margin trends

Financial summary ₹ Cr

MetricsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Income statement
Revenue2,1202,1091,6771,4381,303989925
Revenue growth+0.5%+25.8%+16.6%+10.4%+31.7%+6.9%-
EBITDA435441282227238218162
EBITDA margin+20.5%+20.9%+16.8%+15.8%+18.3%+22.0%+17.5%
Profit before tax446445270220231190135
Net profit33833120316315412584.96
Net profit margin+16.0%+15.7%+12.1%+11.4%+11.8%+12.6%+9.2%
EPS (₹)145.60142.5887.5171.5171.9654.2137.03
Balance sheet
Total assets2,6722,3882,0642,0101,9101,7201,570
Net worth2,6562,3722,0451,8561,7111,5641,404
Total debt0.000.000.00141182138147
Cash & bank15512011370.4510869.7932.01
Net working capital385280277163202136107
Cash flow
Cash from operations27533017221817219999.04
Cash from investing(200)(275)45.57(168)(141)(126)(43.80)
Cash from financing(59.55)(52.05)(169)(89.39)5.81(35.80)(64.10)
ParticularsJun 2026Mar 2026Dec 2025Sep 2025Jun 2025Mar 2025Dec 2024Sep 2024
Revenue633597459570495548466621
Revenue growth (YoY)+27.9%+8.9%-1.6%-8.2%+4.3%---
Other income19.7221.1316.4713.8613.3816.9212.5013.65
EBITDA17213570.2611911010481.17137
EBITDA margin+27.2%+22.7%+15.3%+21.0%+22.1%+19.1%+17.4%+22.0%
Depreciation12.8111.9911.7610.8110.5710.3610.2510.20
Interest2.452.191.862.102.052.182.412.16
Profit before tax17614273.1112011010981.01138
Tax43.8134.1817.3429.1627.3131.0320.2033.86
Net profit13310855.7791.2383.0277.8060.81104
EPS (₹)57.1046.5824.0139.2735.7333.4926.1744.88
MetricsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Income statement
Revenue1,9481,9951,5821,3111,264960877
Revenue growth-2.4%+26.2%+20.6%+3.7%+31.6%+9.5%-
EBITDA387418249202228207143
EBITDA margin+19.9%+21.0%+15.8%+15.4%+18.1%+21.6%+16.3%
Profit before tax434448240196223181130
Net profit33533918114514711885.81
Net profit margin+17.2%+17.0%+11.5%+11.1%+11.6%+12.3%+9.8%
EPS (₹)144.09145.9077.8963.5368.9651.0937.42
Balance sheet
Total assets2,6002,3241,9981,9671,8871,7041,561
Net worth2,5872,3111,9791,8131,6881,5471,395
Total debt0.000.000.00141182138147
Cash & bank74.0129.3419.3430.4042.9937.2418.52
Net working capital33023121812918612197.46
Cash flow
Cash from operations26230611724313817989.97
Cash from investing(181)(253)45.38(170)(141)(126)(30.55)
Cash from financing(55.84)(49.04)(167)(87.12)6.90(34.57)(63.35)
ParticularsJun 2026Mar 2026Dec 2025Sep 2025Jun 2025Mar 2025Dec 2024Sep 2024
Revenue584532451512453516442589
Revenue growth (YoY)+29.1%+3.2%+2.1%-13.1%+0.8%---
Other income16.0022.5417.1042.8514.1015.4219.2713.42
Total expenses418408385411356416364464
EBITDA16612466.0610196.6099.4078.03125
EBITDA margin+28.4%+23.2%+14.6%+19.7%+21.3%+19.3%+17.7%+21.2%
Depreciation12.5011.6911.4510.5110.3010.1210.039.98
Interest1.511.521.271.271.291.601.871.55
Profit before tax16813370.4413299.1110385.40127
Tax41.5732.8116.9625.3924.5229.4719.8730.81

Financial Statements

Figures in ₹ Cr; negatives in brackets. Updated 21 Oct 2026
ParticularsJun 2026Mar 2026Dec 2025Sep 2025Jun 2025Mar 2025Dec 2024Sep 2024
Revenue633597459570495548466621
Revenue growth (YoY)+27.9%+8.9%-1.6%-8.2%+4.3%---
Other income19.7221.1316.4713.8613.3816.9212.5013.65
EBITDA17213570.2611911010481.17137
EBITDA margin+27.2%+22.7%+15.3%+21.0%+22.1%+19.1%+17.4%+22.0%
Depreciation12.8111.9911.7610.8110.5710.3610.2510.20
Interest2.452.191.862.102.052.182.412.16
Profit before tax17614273.1112011010981.01138
Tax43.8134.1817.3429.1627.3131.0320.2033.86
Net profit13310855.7791.2383.0277.8060.81104
EPS (₹)57.1046.5824.0139.2735.7333.4926.1744.88
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Revenue2,1202,1091,6771,4381,303989925
Revenue growth+0.5%+25.8%+16.6%+10.4%+31.7%+6.9%-
Other income64.8454.4039.0642.1639.4315.6411.82
Total expenses1,6851,6681,3951,2111,065771763
Employee cost19417814312212310893.60
EBITDA435441282227238218162
EBITDA margin+20.5%+20.9%+16.8%+15.8%+18.3%+22.0%+17.5%
Depreciation45.1341.2339.0232.4128.1923.9720.29
Interest8.208.7811.7816.9918.2419.5918.46
Profit before tax446445270220231190135
Tax10811466.9653.8163.8964.1348.70
Net profit33833120316315412584.96
Net profit margin+16.0%+15.7%+12.1%+11.4%+11.8%+12.6%+9.2%
EPS (₹)145.60142.5887.5171.5171.9654.2137.03
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Equity & liabilities
Share capital23.2323.2323.2323.2323.2323.2323.23
Reserves & surplus2,6332,3492,0221,8331,6881,5401,380
Shareholders' funds (net worth)2,6562,3722,0451,8561,7111,5641,404
Minority interest0.000.000.000.000.000.000.00
Secured loans0.000.000.00141182138144
Unsecured loans0.000.000.000.000.000.003.54
Total debt0.000.000.00141182138147
Total liabilities2,6722,3882,0642,0101,9101,7201,570
Assets
Gross block1,8131,6401,6181,6071,4491,4111,346
Net block1,5771,4421,4501,4671,3411,3291,279
Capital work in progress27.4439.202.4110.4095.9210.9820.08
Investments698643363393274226116
Inventories389309290199210124105
Sundry debtors53.0842.0038.0729.9533.2642.0252.35
Cash & bank balances15512011370.4510869.7932.01
Loans & advances80.1455.6958.0435.6846.0540.6827.45
Total current assets678528499335398277216
Total current liabilities292247222172195141109
Net working capital385280277163202136107
Total assets2,6722,3882,0642,0101,9101,7201,570
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Opening cash11010859.9999.3162.5324.8433.70
Net cash from operating activities27533017221817219999.04
Net cash from investing activities(200)(275)45.57(168)(141)(126)(43.80)
Net cash from financing activities(59.55)(52.05)(169)(89.39)5.81(35.80)(64.10)
Net change in cash16.032.1948.32(39.32)36.7837.69(8.86)
Closing cash15512011370.4510869.7932.01
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Growth
Sales growth+0.5%+25.8%+16.6%+10.4%+31.7%+6.9%-
EBITDA growth-1.5%+56.4%+24.1%-4.6%+9.2%+34.9%-
PBT growth+0.2%+64.8%+22.9%-4.8%+21.6%+41.1%+12.4%
Net income growth+2.1%+62.9%+24.5%+6.2%+23.1%+47.2%-
Revenue CAGR (3Y)+13.8%+17.4%+19.3%+15.9%+11.2%+5.9%+1.9%
EBITDA CAGR (3Y)+24.2%+22.8%+9.0%+12.0%+18.2%+37.8%+30.5%
Profitability & leverage
Net income margin+16.0%+15.7%+12.1%+11.6%+12.8%+12.7%+9.3%
Return on capital employed+18.0%+20.4%+13.8%+12.1%+13.7%+12.8%+9.9%
Return on net worth+13.5%+15.0%+10.4%+9.3%+10.2%+8.5%+6.2%
Debt / equity0.000.000.040.090.100.100.11
Long-term debt / equity0.000.000.020.050.070.070.08
Interest cover2.102.204.858.728.6910.1013.06
Efficiency & per share
Fixed asset turnover1.231.301.040.940.910.720.70
Inventory turnover6.077.046.867.037.798.659.74
Debtors turnover44.6052.6949.3145.5034.6120.9617.03
EPS (₹)145.60142.5887.5171.5171.9654.2137.03
Dividend per share (₹)12.0012.0010.0010.0010.0010.0010.00
Book value per share (₹)1,143.421,021.00880.24798.81736.42673.01604.21
ParticularsJun 2026Mar 2026Dec 2025Sep 2025Jun 2025Mar 2025Dec 2024Sep 2024
Revenue584532451512453516442589
Revenue growth (YoY)+29.1%+3.2%+2.1%-13.1%+0.8%---
Other income16.0022.5417.1042.8514.1015.4219.2713.42
Total expenses418408385411356416364464
EBITDA16612466.0610196.6099.4078.03125
EBITDA margin+28.4%+23.2%+14.6%+19.7%+21.3%+19.3%+17.7%+21.2%
Depreciation12.5011.6911.4510.5110.3010.1210.039.98
Interest1.511.521.271.271.291.601.871.55
Profit before tax16813370.4413299.1110385.40127
Tax41.5732.8116.9625.3924.5229.4719.8730.81
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Revenue1,9481,9951,5821,3111,264960877
Revenue growth-2.4%+26.2%+20.6%+3.7%+31.6%+9.5%-
Other income96.5976.1938.7240.3739.5515.6325.00
Total expenses1,5601,5771,3321,1091,036753734
Employee cost16014911810010496.6084.02
EBITDA387418249202228207143
EBITDA margin+19.9%+21.0%+15.8%+15.4%+18.1%+21.6%+16.3%
Depreciation43.9540.3438.1631.6928.0723.8420.15
Interest5.356.4710.1015.3117.1518.3717.71
Profit before tax434448240196223181130
Tax99.6810959.0048.0462.3961.8443.32
Net profit33533918114514711885.81
Net profit margin+17.2%+17.0%+11.5%+11.1%+11.6%+12.3%+9.8%
EPS (₹)144.09145.9077.8963.5368.9651.0937.42
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Equity & liabilities
Share capital23.2323.2323.2323.2323.2323.2323.23
Reserves & surplus2,5642,2881,9551,7901,6651,5241,372
Shareholders' funds (net worth)2,5872,3111,9791,8131,6881,5471,395
Secured loans0.000.000.00141182132144
Unsecured loans0.000.000.000.000.005.613.54
Total debt0.000.000.00141182138147
Total liabilities2,6002,3241,9981,9671,8871,7041,561
Assets
Gross block1,8051,6331,6131,6031,4481,4101,344
Net block1,5721,4381,4491,4661,3401,3291,279
Capital work in progress27.4439.202.4110.4095.9210.9820.08
Investments699645364394275227117
Inventories28925724115715094.1493.75
Sundry debtors19414212382.4213287.5461.66
Cash & bank balances74.0129.3419.3430.4042.9937.2418.52
Loans & advances46.2040.7248.6728.8442.0939.0326.68
Total current assets603469432298368258201
Total current liabilities273238214170182137103
Net working capital33023121812918612197.46
Total assets2,6002,3241,9981,9671,8871,7041,561
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Opening cash19.3614.9819.9434.0929.9811.3515.28
Net cash from operating activities26230611724313817989.97
Net cash from investing activities(181)(253)45.38(170)(141)(126)(30.55)
Net cash from financing activities(55.84)(49.04)(167)(87.12)6.90(34.57)(63.35)
Net change in cash25.784.38(4.96)(14.15)4.1118.63(3.93)
Closing cash74.0129.3419.3430.4042.9937.2418.52
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Growth
Sales growth-2.4%+26.2%+20.6%+3.7%+31.6%+9.5%-
EBITDA growth-7.4%+67.6%+23.3%-11.4%+10.2%+44.7%-
PBT growth-2.9%+86.5%+22.6%-12.1%+23.3%+38.6%+18.7%
Net income growth-1.2%+87.2%+25.0%-1.5%+24.9%+37.2%-
Revenue CAGR (3Y)+14.1%+16.4%+18.1%+14.3%+11.1%+5.3%+0.7%
EBITDA CAGR (3Y)+24.2%+22.4%+6.4%+12.2%+19.7%+35.4%+26.7%
Profitability & leverage
Net income margin+17.2%+17.0%+11.4%+11.3%+12.7%+12.4%+9.9%
Return on capital employed+17.9%+21.0%+12.6%+10.9%+13.4%+12.2%+9.6%
Return on net worth+13.7%+15.8%+9.5%+8.4%+9.9%+8.1%+6.3%
Debt / equity0.000.000.040.090.100.100.11
Long-term debt / equity0.000.000.020.050.070.070.08
Interest cover1.561.714.788.988.5710.0214.40
Efficiency & per share
Fixed asset turnover1.131.230.980.860.880.700.67
Inventory turnover7.148.027.958.5410.3510.2210.38
Debtors turnover11.5815.0815.4412.2111.4912.8712.84
EPS (₹)144.09145.9077.8963.5368.9651.0937.42
Dividend per share (₹)12.0012.0010.0010.0010.0010.0010.00
Book value per share (₹)1,113.54994.85851.74780.55726.53666.07600.49
Upgrade to premium

Unlock complete access to The Company Check

Get unrestricted viewing across everything we track — from companies and brands to investors, funding rounds, acquisitions, financials, and more.

Upgrade to Premium No viewing limits. Your plan controls exports and screening usage.
Included in your Premium account
  • ✓
    Unlimited viewing on all profiles Companies, investors, financials, funding, acquisitions & directors
  • ✓
    Full access to every database India & global coverage, advanced filters and rich profile details
  • ✓
    Always-on access from your team account Single premium plan for everything you see on the portal

Related news about Garware Poly

Garware Hi-Tech Films gains on Lubrizol MoU for TPU film solutions | Capital Market News - Business Standard
Business Standard • 28 days ago
Garware Hi Tech Films signs MoU with Lubrizol | Capital Market News - Business Standard
Business Standard • 28 days ago
Garware Hi-Tech Films signs MoU with Lubrizol for developing TPU tech products in India - The Economic Times
Economic Times • 28 days ago
Garware Hi-Tech Films: Partners With Lubrizol for Advanced TPU-Based Film Solutions, Investing ₹118 Crore to Boost Backward Integration and Expand PPF Capacity.
Exchange Update • 28 days ago
Garware Hi-Tech: Co Anticipates Improved PPF Business Economics And An Increase In EBITDA Margins By 150-200 BPS
Exchange Update • 28 days ago
Garware Hi-Tech Films: Joint MD Announced Collaboration Aims To Create New High-Value Products For Various Specialty Uses And Enhance Backward Integration In PPF.
Exchange Update • 28 days ago
Garware Hi-Tech Films: Signs Deal With Lubrizol For Advanced TPU Films And Plans ₹118 Crore Investment For Expansion. Lubrizol Is A Subsidiary Of Berkshire Hathaway.
Exchange Update • 28 days ago
GHFL and PINE Labs Redefine Affordability with India's First Card-Linked EMI for PPF & Detailing Solutions
Business Standard • 1 month ago
Hindustan Copper, Garware Hi Tech Films, Vijaya Diagnostic Centre among stocks to turn ex dividend on September 16 - BusinessToday
Business Today • 1 month ago
GRWRHITECH: Record quarterly results with strong specialty mix, margin expansion, and robust growth outlook
Quartr • 2 months ago
Premium access

Complete news archive for Garware Poly

Full article history, source details, and older brand coverage require an active premium plan.

  • Full article archive
  • Source and publication date
  • Older coverage
  • Brand-specific news history

Verified entity values are shown only after access is granted.

Frequently Asked Questions about Garware Poly

Garware Poly was founded in 1976.

Garware Poly is headquartered in Aurangabad, India. It is registered at Aurangabad, Maharashtra, India.

Garware Poly has 2,000 employees.

The primary company behind Garware Poly, Garware Hi-Tech Films Limited, reported revenue of ₹2,164 Cr for FY 2025, up 26% year on year.

Founded in 1976 in Aurangabad, India, operations are focused on the production of specialty polyester films within the manufacturing sector. These films are applied in automotive paint protection, sun control, shrink label packaging, reprographics, and electrical insulation. Advanced technologies, such as nano-dispersion, are utilized in the manufacturing process. A vertically integrated approach is maintained to support quality control, with products supplied to industries across global markets.

Garware Poly offers Polyester Films (BOPET) and Paint Protection Films.

Yes, Garware Poly is publicly traded on NSE under the ticker symbol GRWRHITECH.

Garware Poly operates through Garware Hi-Tech Films Limited.

The legal entities of Garware Poly currently have 12 directors, including Sonia Garware, Sarita Garware Ramsay, Monika Garware and others.

Explore millions of companies — effortlessly

Access structured, verified intelligence on 7M+ companies across industries, sectors, and global markets. From early-stage startups to large enterprises, discover ownership, leadership, funding, financials, acquisitions, and market signals — all in one powerful platform.

Free account with essential features Instant access to company reports Enterprise solutions available