Is Garware Hi-Tech Films 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 .

Is Garware Hi-Tech Films 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 .

What is Garware Hi-Tech Films share price return in the past 10 years?

Garware Hi-Tech Films Ltd share price has appreciated 37.1% annually (CAGR) over the past ten years.

Is Garware Hi-Tech Films 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.

What is the P/E ratio of Garware Hi-Tech Films?

The latest standalone P/E ratio of Garware Hi-Tech Films as of 19-Apr-2024 is 26.56.

What is the P/B ratio of Garware Hi-Tech Films?

The latest standalone P/B ratio of Garware Hi-Tech Films as of 19-Apr-2024 is 2.07.

What is the 52-week high and low of Garware Hi-Tech Films?

The 52-week high of Garware Hi-Tech Films is Rs. 2197.00 and the 52-week low is Rs. 538.30.

Garware Hi-Tech Films Ltd - Stock Valuation and Financial Performance

Name: Garware Hi-Tech Films
Brand: Garware Hi-Tech Films

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

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Garware Hi-Tech Share Price

₹1,688.50 -20.60 -1.21%
as on 19-Apr'24 16:01

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

Standalone Basis ^P Consolidated Basis ^P

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

Value Creation ⓘ

Value Creation Index Colour Code Guide ⓘ

	Mar'14	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	TTM
ROCE % ⓘ	3.5%	4.8%	5.2%	3.5%	3.4%	5.6%	6.3%	7.6%	8.3%	7.2%	-
Value Creation Index ⓘ	-0.8	-0.7	-0.6	-0.8	-0.8	-0.6	-0.6	-0.5	-0.4	-0.5	-
Growth Parameters ⓘ Growth Parameters Colour Code Guide ⓘ
Sales ⓘ	835	887	842	860	823	923	877	960	1,264	1,311	1,430
Sales YoY Gr.	-	6.2%	-5%	2.1%	-4.3%	12.1%	-4.9%	9.5%	31.6%	3.7%	-
Adj EPS ⓘ	2.8	6.5	7.2	8.8	14.5	30.5	36.1	48	58.7	54.8	64.4
YoY Gr.	-	136%	11.6%	22.1%	64.3%	110.1%	18.3%	33%	22.3%	-6.7%	-
BVPS (₹) ⓘ	193.9	200.4	207.9	539.4	555.6	587.1	600.5	666.1	726.5	780.6	825.2
Adj Net Profit ⓘ	6.4	15.1	16.9	20.5	33.7	70.9	83.9	111	136	127	150
Cash Flow from Ops. ⓘ	18.3	87.9	96.8	80.1	129	137	90	179	138	243	-
Debt/CF from Ops. ⓘ	20.7	4.1	3.2	3.9	1.3	1.1	1.8	0.9	1.5	0.6	-

CAGR ⓘ

CAGR Colour Code Guide ⓘ

	9 Years	5 Years	3 Years	1 Years
Sales ⓘ	5.1%	9.8%	14.3%	3.7%
Adj EPS ⓘ	39.4%	30.4%	14.9%	-6.7%
BVPSⓘ	16.7%	7%	9.1%	7.4%
Share Price	37.1%	51.3%	33.8%	189.9%

Key Financial Parameters ⓘ

Performance Ratio Colour Code Guide ⓘ

	Mar'14	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	TTM
Return on Equity % ⓘ	1.1	2.6	2.9	2.2	2.7	5.3	6.1	7.6	8.4	7.3	8
Op. Profit Mgn % ⓘ	8.1	6.6	9.4	8.2	10.2	14.4	16.3	21.6	18.1	15.4	14.2
Net Profit Mgn % ⓘ	0.8	1.7	2	2.4	4.1	7.7	9.6	11.6	10.8	9.7	10.5
Debt to Equity ⓘ	0.8	0.8	0.6	0.3	0.1	0.1	0.1	0.1	0.1	0.1	-
Working Cap Days ⓘ	129	129	128	111	99	79	83	86	86	87	83
Cash Conv. Cycle ⓘ	52	56	51	49	43	24	26	26	33	37	52

Recent Performance Summary

Return on Equity has increased versus last 3 years average to 8.00%

Sales growth is growing at healthy rate in last 3 years 14.33%

Net Profit is growing at healthy rate in last 3 years 14.92%

Sales growth is not so good in last 4 quarters at 6.65%

Latest Financials - Garware Hi-Tech Films Ltd.

	Standalone	Consolidated
TTM EPS (₹)	64.4	81.2
TTM Sales (₹ Cr.)	1,430	1,579
BVPS (₹.) ⓘ	825.2	853.2
Reserves (₹ Cr.) ⓘ	1,894	1,959
P/BV ⓘ	2.07	2.00
PE ⓘ	26.56	21.06

From the Market
52 Week Low / High (₹)	538.30 / 2197.00
All Time Low / High (₹)	2.80 / 2197.00
Market Cap (₹ Cr.)	3,971
Equity (₹ Cr.)	23.2
Face Value (₹)	10
Industry PE ⓘ	36

Management X-Ray of Garware Hi-Tech:

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged ^*

0.00

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

Valuation of Garware Hi-Tech

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Price to Earnings

Enterprise Value to EBIT

Price to Book-Value

Price to Sales

Dividend History

Analyst's Notes

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Key Ratios of Garware Hi-Tech

Standalone Basis Consolidated Basis

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Profit And Loss

(All Figures are in Crores.)

Standalone Basis Consolidated Basis

PARTICULARS	Mar'14	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23
Sales	835	887	842	860	823	923	877	960	1,264	1,311
Operating Expenses ⓘ	768	828	763	790	740	790	734	753	1,036	1,109
Manufacturing Costs	146	158	171	186	176	200	205	213	275	294
Material Costs	502	536	447	458	423	441	370	355	532	601
Employee Cost	58	55	63	69	68	74	84	97	104	100
Other Costs ⓘ	61	79	82	77	72	76	74	89	125	114
Operating Profit ⓘ	67	59	79	70	84	133	143	207	228	202
Operating Profit Margin (%)	8.1%	6.6%	9.4%	8.2%	10.1%	14.4%	16.3%	21.6%	18.1%	15.4%
Other Income ⓘ	12	27	6	8	5	9	25	16	40	40
Interest ⓘ	37	44	43	33	24	19	18	18	17	15
Depreciation ⓘ	33	15	17	13	13	14	20	24	28	32
Exceptional Items ⓘ	6	0	0	0	0	0	0	0	0	0
Profit Before Tax ⓘ	15	27	25	33	51	110	130	181	223	196
Tax ⓘ	3	9	8	11	17	35	43	62	62	48
Profit After Tax	11	17	17	22	34	74	87	119	160	148
PAT Margin (%)	1.4%	2.0%	2.1%	2.5%	4.1%	8.1%	9.9%	12.4%	12.7%	11.3%
Adjusted EPS (₹)	4.9	7.5	7.5	9.4	14.5	32.0	37.4	51.1	69.0	63.5
Dividend Payout Ratio (%)	0%	0%	0%	11%	14%	31%	27%	20%	15%	16%

Balance Sheet

(All Figures are in Crores.)

Standalone Basis Consolidated Basis

PARTICULARS	Mar'14	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23
Equity and Liabilities
Shareholders Fund	606	567	584	1,253	1,291	1,364	1,395	1,547	1,688	1,813
Share Capital ⓘ	78	23	23	23	23	23	23	23	23	23
Reserves ⓘ	529	544	561	1,230	1,268	1,341	1,372	1,524	1,665	1,790
Minority Interest	0	0	0	0	0	0	0	0	0	0
Debt	347	328	281	292	154	117	136	112	130	84
Long Term Debt	73	61	35	18	137	113	131	112	130	84
Short Term Debt	274	268	246	274	17	4	5	0	0	0
Trade Payables	44	45	44	48	63	83	65	86	109	104
Others Liabilities ⓘ	86	91	100	-5	1	25	43	105	177	176
Total Liabilities ⓘ	1,084	1,032	1,009	1,589	1,509	1,590	1,639	1,851	2,104	2,178
Fixed Assets
Gross Block	1,302	1,406	1,420	1,243	1,252	1,284	1,344	1,410	1,448	1,603
Accumulated Depreciation	608	625	640	13	26	46	65	81	107	137
Net Fixed Assetsⓘ	694	781	780	1,230	1,225	1,238	1,279	1,329	1,340	1,466
CWIP ⓘ	86	11	5	8	10	11	20	11	96	10
Investmentsⓘ	2	2	2	30	37	122	117	227	275	394
Inventories	146	134	131	106	84	75	94	94	150	157
Trade Receivables	59	48	42	75	62	75	62	88	132	82
Cash Equivalents	91	52	50	76	31	24	19	37	43	30
Others Assetsⓘ	6	3	-1	64	60	46	49	65	67	38
Total Assets ⓘ	1,084	1,032	1,009	1,589	1,509	1,590	1,639	1,851	2,104	2,178

Cash Flow

(All Figures are in Crores.)

Standalone Basis Consolidated Basis

PARTICULARS	Mar'14	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23
Cash Flow From Operating Activity ⓘ	18	88	97	80	129	137	90	179	138	243
PBT ⓘ	15	27	25	33	51	110	130	181	223	196
Adjustment ⓘ	56	37	58	40	34	27	15	34	20	31
Changes in Working Capital ⓘ	-50	32	17	14	54	24	-30	-5	-68	57
Tax Paid ⓘ	-2	-7	-4	-7	-10	-24	-25	-31	-36	-41
Cash Flow From Investing Activity ⓘ	-76	-21	-5	-11	-5	-101	-31	-126	-141	-170
Capex	-85	-29	-9	-15	-11	-26	-54	-60	-109	-66
Net Investments	0	0	1	0	-1	-77	6	-66	-33	-105
Others ⓘ	9	8	4	4	6	3	17	1	1	2
Cash Flow From Financing Activityⓘ	50	-106	-95	-44	-171	-48	-63	-35	7	-87
Net Proceeds from Shares ⓘ	0	0	0	0	0	0	0	0	0	0
Net Proceeds from Borrowing ⓘ	5	-15	-31	-21	117	-6	5	-5	51	-42
Interest Paid ⓘ	-37	-44	-43	-32	-24	-18	-17	-19	-17	-15
Dividend Paid ⓘ	0	0	0	0	-3	-6	-53	0	-23	-23
Others ⓘ	82	-47	-21	9	-261	-19	1	-11	-3	-7
Net Cash Flow ⓘ	-7	-39	-2	25	-47	-12	-4	19	4	-14

Finance Ratio

Standalone Basis Consolidated Basis

PARTICULARS	Mar'14	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23
Ratios
ROE (%)	2.56	3.78	3.66	2.52	2.65	5.6	6.3	8.07	9.9	8.43
ROCE (%)	6.18	8.21	8.45	5.53	4.97	8.62	9.63	12.21	13.36	10.93
Asset Turnover Ratio	0.86	0.88	0.87	0.7	0.54	0.6	0.54	0.55	0.64	0.61
PAT to CFO Conversion(x)	1.64	5.18	5.71	3.64	3.79	1.85	1.03	1.5	0.86	1.64
Working Capital Days
Receivable Days	22	21	18	24	30	27	28	28	32	30
Inventory Days	49	55	55	48	42	32	35	36	35	43
Payable Days	28	30	36	37	48	61	73	78	67	65

Garware Hi-Tech Films Ltd Stock News

Garware Hi-Tech Films Ltd FAQs

What is the share price of Garware Hi-Tech?

Company share prices are keep on changing according to the market conditions. The closing price of Garware Hi-Tech on 19-Apr-2024 16:01 is ₹1,688.5.

What is the market cap of Garware Hi-Tech?

Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 19-Apr-2024 16:01 the market cap of Garware Hi-Tech stood at ₹3,970.7.

What is the P/E ratio of Garware Hi-Tech?

The latest P/E ratio of Garware Hi-Tech as of 19-Apr-2024 16:01 is 26.56.

What is the P/B ratio of Garware Hi-Tech?

The latest P/B ratio of Garware Hi-Tech as of 19-Apr-2024 16:01 is 2.07.

What is the 52-week high and low of Garware Hi-Tech?

The 52-week high of Garware Hi-Tech is ₹2,197 and the 52-week low is ₹538.3.

What is the TTM revenue of Garware Hi-Tech?

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Garware Hi-Tech is ₹1,430 ( Cr.) .

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.