Garware Hi-Tech Films Ltd
Garware Hi-Tech Films Q3 2025: Capacity Up, Revenue Dips, Strong Cash & Future Growth Ahead š
ā¢ Expanded Paint Protection Film (PPF) capacity to 600 LSF in September 2025, currently at 65% utilization
ā¢ Plans to commission new TPU manufacturing line by October 2026 to enhance backward integration
ā¢ Anticipates revenue growth of 15-20% CAGR in FY27
ā¢ EBITDA margins expected to improve to over 20% in seasonal quarters
ā¢ Q3 revenue declined 1.6% year-on-year
ā¢ Nine-month revenue declined 2.4% year-on-year
ā¢ Exports constituted 74.3% of total revenues in Q3
ā¢ U.S. market accounted for approximately 40% of sales (down from 43-44% previous year)
ā¢ Q3 EBITDA decreased by 7.4% year-on-year to INR 86.7 crores
ā¢ Q3 EBITDA margin of 18.9%
ā¢ Nine-month EBITDA declined 8.3% to INR 343 crores
ā¢ Company remains debt-free with strong cash balance of INR 669 crores as of December 31, 2025