23-Oct-2026 16:40:56
GARWARE HI-TECH FILMS Q2 FY27 : FY27 EBITDA MARGIN GUIDANCE UPGRADED TO 27% ±2%, FY28 REVENUE TARGET ABOVE ₹3,000 CR & TPU BACKWARD INTEGRATION TO BOOST MARGINS
• FY27 REVENUE GUIDANCE REAFFIRMED ABOVE ₹2,500 CR • FY27 EBITDA MARGIN GUIDANCE RAISED BY 200 BPS TO 27% ±2% FROM EARLIER 25% ±2% • FY28 REVENUE TARGETED ABOVE ₹3,000 CR, WITH EBITDA MARGIN EXPECTED AT 28% OR HIGHER • TPU BACKWARD INTEGRATION EXPECTED TO IMPROVE EBITDA MARGINS BY 150–200 BPS • TPU PLANT COMMISSIONING TARGETED FOR Q3 FY27, WITH APPROXIMATELY 75% PRODUCTION FOR CAPTIVE USE • TPU EXTERNAL SALES TARGETED AT ₹75–100 CR IN FY28, WITH PRELIMINARY EBITDA MARGIN EXPECTATION OF 35% • NEW SOLAR CONTROL FILM CAPACITY TARGETED FOR COMMERCIAL PRODUCTION AROUND JUNE 2027 • NEW CAPACITY OFFERS ₹450–500 CR ANNUAL REVENUE POTENTIAL AT FULL UTILIZATION • EXISTING & UPCOMING CAPACITIES OFFER APPROXIMATELY ₹3,500 CR ANNUAL REVENUE POTENTIAL AT FULL UTILIZATION • ARCHITECTURAL FILMS BUSINESS TARGETED TO SCALE FROM APPROXIMATELY ₹400 CR ANNUALIZED REVENUE TO ₹1,000 CR • ARCHITECTURAL FILMS GROWTH TARGETED AT 35–40%, SUPPORTED BY PREMIUM PRODUCTS & DISTRIBUTION EXPANSION • HOME SOLUTIONS STUDIO NETWORK TARGETED TO EXPAND TO 50 BY DECEMBER 2027 FROM CURRENT 14 • PREMIUM SUN CONTROL FILMS GENERATE APPROXIMATELY 40–45% EBITDA MARGINS VS 20–25% FOR PPF • MANAGEMENT SEES LONG-TERM GROWTH POTENTIAL FROM HIGHER PPF PENETRATION IN INDIA & GLOBAL EXPORT DEMAND • CUSTOMER CONCENTRATION, RAW MATERIAL INFLATION, LOGISTICS COSTS & CAPACITY EXECUTION REMAIN KEY RISKS
GARWARE HI-TECH FILMS LTD