Garware Hi-Tech Films FY21 net profit at INR 125.95 crore

www.newsbarons.com

Net Profit after tax for Q4 FY21 at INR 31.80 crore (vs INR 21.07 crore in Q4 FY20) on Q-o-Q basis.

Garware Hi-Tech Films Ltd. (formerly Garware Polyester Ltd.), the flagship company of the Garware Group and a leading player in specialty Polyester Films in India declared its results for the quarter & year ended March 31, 2021 on May 27th,2021.

Highlights for Consolidated FY21:

• Revenue at INR 989.03 crore (vs INR 924.83 Cr in FY20) up by 6.9% on Y-o-Y basis
• Exports contributed INR 734.73 crore (vs INR 634.52 in FY20) up by INR 100.21 crore on Y-o-Y basis
• Earnings Before Interest, Tax, Depreciation, & Amortization (EBITDA) for the year stood at INR 233.65 crore (vs INR 173.47 crore in FY20) up by 34.7% on Y-o-Y basis. EBITDA margin improved by 4.9 Bps on Y-o-Y basis.
• Net Profit for the period after tax at INR 125.95 crore (vs INR 86.02 crore in FY20) on Y-o-Y basis
• Earnings per share (EPS) at INR 54.21 up by 46.4 % on Y-o-Y basis
• ROE (excluding revaluation reserves) increased from 13.44 % in FY20 to 15.75% in FY21

Highlights for Consolidate Q4 FY21:

• Revenue at INR 287.74 Cr (vs INR 220.67 crore in Q4 FY’20) up by 30.4% on Q-o-Q basis
• Earnings Before Interest, Tax, Depreciation, & Amortization (EBITDA) for the Quarter stood at INR 58.11 crore (vs INR 45.85 crore in Q4 FY20) reflecting 20.2% EBITDA margin
• Net Profit for the period after tax at INR 31.80 crore (vs INR 21.07 crore in Q4 FY20) on Q-o-Q basis

Earning per share (EPS) at INR 13.69, up by 50.9% over the corresponding quarter in FY2019-20

Unique Products, Global Patents, Focus on Value Added Films, Higher Share of Consumer Products, Focus on Export Markets, etc. have further improved the company financial results. The Company recorded highest ever consolidated revenues of INR 989.03 crore in FY21 due to improved product mix & market mix. The company aims to expand window films category across safety, architectural and front window screen glasses.

Commenting on the results, S.B. Garware, Chairman and Managing Director, GHFL said “Over the past eight decades, we’ve built a strong reputation for quality, value addition, application-focused innovation. I am delighted with the way we have finished the financial year as the company delivered a fifth consistent year of strong bottom-line growth. As we continue to operate in an environment made difficult by Covid uncertainties, I would like to thank our employees for their commitment, customer focus and resilience that has helped us register our highest ever revenue even in tough times. Given the current visibility and a promising demand landscape, we foresee better times for us going ahead helping us realize our growth aspirations.”