Garware Hi-Tech Films Ltd Stock Analysis

BSE: 500655 | NSE: GRWRHITECH | Plastic Products | Small Cap

BSE Share Price Aug 19, 18:03
818.35 -3.35 (-0.41%)

DeciZen - Make an Informed Decision on Garware Hi-Tech

Overall Rating

1. Quality

2. Valuation

Overvalued

3. Price Trend

Garware Hi-Tech Price Chart

P/E Ratio (SA) :
11.34
Market Cap :
1,909 Cr.
52-wk low :
585
52-wk high :
1,140
Bole Toh?

1. Is Garware Hi-Tech Films Ltd a good quality company?

Past 10 year's financial track record analysis by Moneyworks4me indicates that Garware Hi-Tech Films Ltd is a average quality company.

2. Is Garware Hi-Tech Films Ltd undervalued or overvalued?

The key valuation ratios of Garware Hi-Tech Films Ltd's currently when compared to its past seem to suggest it is in the Overvalued zone.

3. Is Garware Hi-Tech Films Ltd a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Garware Hi-Tech Films Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.

10 Year X-Ray of Garware Hi-Tech:

Analysis of Financial Track Record

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Garware Hi-Tech Films Ltd has performed well in some of the past ten years indicating its past ten year financial track record is somewhat good

Value Creation

Value Creation Index Colour Code Guide

Mar'12Mar'13Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21TTM
ROCE % 7%5.4%3.5%4.8%5.2%3.5%3.4%5.6%6.3%7.6%-
Value Creation Index -0.5-0.6-0.8-0.7-0.6-0.8-0.8-0.6-0.6-0.5-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 7887768358878428608239238779601,317
YoY Gr. Rt. %--1.6%7.6%6.2%-5%2.1%-4.3%12.1%-4.9%9.5%-
Adj EPS 12.59.82.86.57.28.814.530.536.147.872.5
YoY Gr. Rt. %--21.6%-72%136%11.6%22.1%64.3%110.1%18.3%32.3%-
BVPS (₹) 177.1189193.9200.4207.9539.4555.6587.1600.5666.1746
Adj Net Profit 29.222.96.415.116.920.533.770.983.9111168
Cash Flow from Ops. 46.45218.387.996.880.112913790179-
Debt/CF from Ops. 4.95.620.74.13.23.91.31.11.80.9-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales 2.2%2.7%5.3%9.5%
Adj EPS 16%45.8%48.7%32.3%
BVPS 15.926.26.210.9
Share Price 22.3% 39.4% 52.4% -23.5%

Key Financial Parameters

Performance Ratio Colour Code Guide

Mar'12Mar'13Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21TTM
Return on Equity % 5.94.11.12.62.92.22.75.36.17.510.3
Op. Profit Mgn % 10.88.68.16.69.48.210.214.416.321.617.6
Net Profit Mgn % 3.730.81.722.44.17.79.611.612.8
Debt to Equity 0.50.60.80.80.60.30.10.10.10.1-
Working Cap Days 100118129129128111997983860
Cash Conv. Cycle 454652565149432426260

Recent Performance Summary

Return on Equity has increased versus last 3 years average to 10.30%

Net Profit is growing at healthy rate in last 3 years 48.71%

Sales growth is good in last 4 quarters at 21.36%

Sales growth has been subdued in last 3 years 5.27%

Latest Financials - Garware Hi-Tech Films Ltd.

Standalone Consolidated
TTM EPS (₹) 72.5 75.7
TTM Sales (₹ Cr.) 1,317 1,367
BVPS (₹.) 746 755.6
Reserves (₹ Cr.) 1,710 1,732
P/BV 1.10 1.10
PE 11.34 10.93
From the Market
52 Week Low / High (₹) 585.00 / 1140.00
All Time Low / High (₹) 2.80 / 1225.15
Market Cap (₹ Cr.) 1,909
Equity (₹ Cr.) 23.2
Face Value (₹) 10
Industry PE 20.5

Management X-Ray of Garware Hi-Tech :

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Event Update

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Analyst's Notes

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Key Ratios of Garware Hi-Tech

Adj EPS (Rs.)
Sales (Cr.)
ROE (%)
ROCE (%)

News

About Garware Hi-Tech Films Ltd

Garware Polyester Ltd. was Incorporated on  June 6, 1957 under the name Garware Motors & Engineers Pvt. Ltd. and was converted into a public limited company on  May 26,1981. The name of the Company was changed to Garware Plastics & Polyster Pvt. Ltd. with effect from April 14, 1977.

It is the largest as well as the first company to produce polyester film in India for the last 20 years. They have grown to be a force to reckon with within the polyester film industry. They are continously diversifying to meet new challenges and reach new horizons.   

At Garware Polyester they serve the need of diverse industries. Their product range include films that cater to the solar control industry, packaging industry, reprographic industry etc.  

They are a force to reckon with in the field of polyester film. They continuously diversify to meet new horizons and challenges with competence and dynamism.  

With their vertically integrated production plants, four independent manufacturing lines and skilled manpower, they have built a business that spans the globe.  

Serving the needs of diverse industries, their bi-axially oriented polyethylene teraphthalate film range includes sun control films, overhead projector films and films for - packaging, cable insulation, audio tapes, tracing & drafting - to name a few.  

With an annual turnover in excess of US $100 million, they employ more than 1500 employees in their factories and offices. The Corporate Head Quarter is located in Mumbai and the company's main production facilities are at Aurangabad and Nasik. 

Milestones

The forties witnessed the birth of Garware, a simple manufacturing unit producing plastic buttons for the Navy. They later diversified their product base to include knitting needles, pen-holders and toothbrushes. 

In the fifties they lead the race by manufacturing injected, moulded and extruded plastic products like television casings & fan blades. 

The sixties brought new challenges in the form of new technologies. They responded by expanding our product line to include PVC pipes, fittings and allied products. End sixties saw the emergence of Polyester film and a whole new world of possibilities opened up for them. 

By the seventies it set out to conquer the entire world. Their expansion plans were launched with exports to the Middle East. To meet growing demands two new plants were set up - the polyester film plant in Aurangabad and the metallising unit in Nasik. 

In the eighties we produced sure winners like Garfilm, Sun Control and X-Ray film - all polyester based and indigenously developed. They were matching strides with developments worldwide. 

The nineties, the era of high technology, saw them taking on new challenges. 

Product range of the compny includes:
  • Reprographic Films/Sheets 
  • Polyester Film 
  • Pet Film
  • Bopet Film
  • Biaxially Oriented Polyester Film
  • Polyethylene Ptere Pthlate Films 
  • Packaging Films
  • Metallised Films
  • Insulation Films/Sheets/Webs 
  • Reprographic Films
  • LCD Films 
  • Thermal Lamination Films 
  • Release Liner 
  • Suncontrol 
  • Solarcontroal 
  • Holography 
  • Heatsealable 
  • Opaque Films 
  • Label Films
  • Matte Films 
  • OHP Films 
  • TRDR Films 
  • Lacquered 
  • Yarn Grade Films
Achievements/ recognition:
  • An ISO:9001:2000 certified company
  • In 1980 it was awarded the Gold Shield by the Government of India (Ministry of Industry), in recognition of our capability for developing polyester film in-house and thus saving substantial foreign exchange for the government.
  •  In 1988, the Department of Science and Technology of the Government of India recognised the excellent R&D effort with the Silver Shield award, for developing ray film with polyester base. 
  • The company has also been consistently winning the Top Exporter Award from the Government of India (Ministry of Commerce) as well as the Government of Maharashtra. The 70's award related to PVC pipes and fittings, but since 1984 it was our polyester film which took the lead.

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