This Specialty Films Stock Jumps 14% After Reporting Highest-Ever FY26 Revenue and PAT, Announces Rs 191 Crore Capex

Garware Hi-Tech Films Limited reported its audited consolidated financial results for the quarter and year ended March 31, 2026. The company, which manufactures Sun Control Films, Paint Protection Films and other specialty films, delivered its highest-ever full-year revenue and profit after Tax in FY26, supported by improved quarterly performance and better margins.

Garware Hi-Tech Fims share price has jumped 14 per cent to a hit a fresh 52-week high on May 6, 2026.

Q4FY26 Revenue Rises 9 per cent YoY

For Q4FY26, revenue from operations stood at Rs 597 crore as against Rs 548 crore in Q4FY25, marking a year-on-year growth of 8.9%. On a sequential basis, revenue rose 30.1% from Rs 459 crore in Q3FY26.

The company said the quarterly performance was supported by demand revival and improved realisations across segments. Q4FY26 was also among the company’s stronger quarters in terms of operating performance.

EBITDA Margin Expands to 26.2 per cent

Consolidated EBITDA for the quarter came in at Rs 157 crore, compared with Rs 121 crore in the same quarter last year, up 29% year-on-year. Sequentially, EBITDA rose 80.5% from Rs 87 crore in Q3FY26.

EBITDA margin improved to 26.2% in Q4FY26 from 22.2% in Q4FY25, an expansion of 409 basis points. On a quarter-on-quarter basis, the margin improved by 733 basis points from 18.9%. The company attributed the margin improvement to operating leverage, favourable product mix and cost efficiencies.

Garware Hi-Tech Net Profit Up 39 per cent YoY in Q4

Profit after tax for Q4FY26 stood at Rs 108 crore, up 39.1% from Rs 78 crore in Q4FY25. Compared with Q3FY26 PAT of Rs 56 crore, net profit nearly doubled, rising 94% sequentially.

PAT margin expanded to 18.1% in Q4FY26 from 14.2% in Q4FY25. Earnings per share for the quarter stood at Rs 47, compared with Rs 33 in the year-ago period and Rs 24 in the previous quarter.

FY26 Revenue Touches Rs 2,120 Crore

For the full year FY26, revenue from operations stood at Rs 2,120 crore, marginally higher than Rs 2,109 crore reported in FY25. EBITDA for the year was Rs 500 crore, compared with Rs 495 crore in FY25, while EBITDA margin stood at 23.6% against 23.5% in the previous year.

The company reported FY26 PAT of Rs 338 crore, up 2.1% from Rs 331 crore in FY25. PAT margin improved to 16% from 15.7% in FY25. Full-year EPS stood at Rs 146 compared with Rs 143 in the previous year.

Board Approves Rs 191 Crore Capex

Garware Hi-Tech Films also announced that its board has approved a capex of Rs 191 crore for a new Sun Control Film line. The line will be backed by robotics and automation and is expected to add nearly 1,200 LSF capacity.

The company said this is its sixth major capex in recent years. Commercial production from the new line is expected to begin in June 2027, which falls in Q1FY28.

Product Launches and Studio Expansion

During the period, the company launched three new products. These include sustainable TPU-based UV printable films for complex applications, PDLC specialty films for privacy-on-demand applications and graphic solutions.

The company also expanded its Global Application Studios footprint with 11 international additions, including two in the UAE and nine in the USA. In India, Garware Application Studios expanded to more than 250 locations, while Global Home Solutions reached six locations. The company aims to scale Global Home Solutions to 50 by the end of FY27.

Management Commentary

Commenting on the performance, Chairman and Managing Director Dr S B Garware said the company’s results reflect the resilience and strategic clarity of a business built over more than three decades.

Vice Chairperson and Joint Managing Director Monika Garware said the company recorded its highest-ever quarterly profitability and highest-ever full-year revenue and PAT since inception. She added that the newly announced Sun Control Film line would support future growth.

Company Background

Garware Hi-Tech Films has a presence in more than 90 countries. The company manufactures Sun Control window films for architectural and automotive applications, Paint Protection Films and high-end BOPET films for label and industrial applications. Its integrated manufacturing setup helps the company maintain control over product quality and serve global markets.

Disclaimer: The article is for informational purposes only and not investment advice.