Garware Hi-Tech Films (500655) Q1 24/25 earnings summary

Executive summary

• Achieved record consolidated quarterly results for Q1 FY 2025, with highest-ever revenue, EBITDA, PBT, and PAT, driven by robust growth in high-end, value-added products across all segments despite global uncertainties.

• Standalone and consolidated unaudited financial results for the quarter ended June 30, 2024, were reviewed and approved by the Board on August 8, 2024.

• Both standalone and consolidated results were reviewed by independent auditors, who found no material misstatements.

• Strategic focus on innovation, premium product expansion, and market penetration led to record sales and profitability.

Financial highlights

• Consolidated revenue reached ₹474.5 crore, up 25% year-over-year and 6.2% sequentially from Q4 FY24.

• EBITDA at ₹130 crore, up 78.7% YoY and 44.9% QoQ, with EBITDA margin at 27.4%.

• PAT at ₹88.4 crore, up 102.2% YoY and 52.8% QoQ, with PAT margin at 18.6%.

• EPS for Q1 FY25 stood at ₹38.03, up 102.2% YoY.

• Zero net debt and cash reserves of ₹493 crore as of June 30, 2024.

Outlook and guidance

• Confident in achieving ₹2,500 crore revenue by FY 2026, maintaining strong growth momentum.

• Margins expected to remain above 20%, with some seasonality and product mix impact.

• New PPF production line (₹125 crore capex) to be operational by Q2 FY 2026, supporting further growth.

• Management expects growth momentum to continue, supported by new product launches, R&D excellence, and global distribution network.