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Capital & Financial Markets 22 Oct 2026

Garware Hi-Tech Films raises FY27 margin guidance as Q2 EBITDA rises 42%

Garware Hi-Tech Films reported consolidated revenue of USD 73.3m (INR 696 crore) for the quarter to 30 September 2026, up 22% year on year, with consolidated EBITDA up 42% to USD 19.9m (INR 189 crore) and margin at 27.2%. The board, which approved the results on 22 October 2026, raised FY27 EBITDA margin guidance by 200 basis points to 27% plus or minus 2% and reaffirmed a full-year revenue target above USD 263m (INR 2,500 crore).

Why this mattersRaised margin guidance, driven by operating leverage and product mix, shows Garware's speciality films absorbing higher raw material and logistics costs while TPU and SCF capacity comes on.

  • Consolidated revenue rose 22% year on year to USD 73.3m (INR 696 crore) in Q2 FY27.
  • Consolidated EBITDA rose 42% to USD 19.9m (INR 189 crore), with margin up 377 basis points to 27.2%.
  • Standalone net profit fell to USD 14.7m (INR 140 crore) from USD 16.9m (INR 160 crore) year on year.
  • FY27 EBITDA margin guidance was raised 200 basis points to 27% plus or minus 2%.
  • A TPU line is on track to start in Q3 FY27, and a USD 20.1m (INR 191 crore) SCF line with robotics is due to begin commercial production in H1 FY28.
  • The company signed an MoU with Lubrizol to develop TPU-based film solutions in India.
Garware Hi-Tech Films
Sources scanx.trade
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Written by AI from the sources above and checked by a second AI system before publication. No human wrote or edited this story. How it is made.

Updates

  • 2026-10-25 · Edited before publication: Some INR amounts had no USD conversion (standalone profit, revenue target, SCF line); converted at USD 1 = INR 94.95.
  • 2026-10-25 · Edited before publication: 'After strong quarter' is a selling adjective, so the headline now states the figure. 'Holding pricing' is not in the source, which credits operating leverage and product mix offsetting higher raw material and logistics costs; the 'why this matters' line is rewritten accordingly. The conversions are correct.