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Last Updated: April 2, 2026, 4:39 am
Author: Getaka|Social: XLinkedIn
Stock Ticker - BSE: 500655 | NSE: GRWRHITECH

Garware Hi Tech Films Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹3,559.46Fairly Valued by 1.78%vs CMP ₹3,624.00

P/E (27.4) × ROE (15.0%) × BV (₹1,079.00) × DY (0.33%)

Defaults: ROE=15%

₹1,993.56Overvalued by 44.99%vs CMP ₹3,624.00
MoS: -81.8% (Negative)Confidence: 63/100 (Moderate)Models: 1 Under, 8 Over
ModelCategoryValueWeightSignal
PE-ROEEarnings₹4,021.6919%Under (+11%)
Graham NumberEarnings₹1,793.5417%Over (-50.5%)
Earnings PowerEarnings₹774.9311%Over (-78.6%)
DCFCash Flow₹2,473.9214%Over (-31.7%)
Net Asset ValueAssets₹1,078.858%Over (-70.2%)
EV/EBITDAEnterprise₹1,652.2810%Over (-54.4%)
Earnings YieldEarnings₹1,325.008%Over (-63.4%)
ROCE CapitalReturns₹1,124.638%Over (-69%)
Revenue MultipleRevenue₹907.946%Over (-74.9%)
Consensus (9 models)₹1,993.56100%Overvalued
Key Drivers: Wide model spread (₹775–₹4,022) — high uncertainty.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: 13.0% · Defaults: ROE=15%

*Investments are subject to market risks

Investment Snapshot

69
Garware Hi Tech Films Ltd scores 69/100 (Average)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health87/100 · Strong
ROCE 20.6% ExcellentROE 15.0% GoodD/E 0.06 Low debtInterest Coverage 0.0x RiskyProfitable 5/5 years Consistent
Smart Money75/100 · Strong
FII holding up 0.46% (6mo) Slight increaseDII holding up 0.60% MF buyingPromoter holding at 60.7% Stable
Earnings Quality60/100 · Moderate
OPM stable around 19% SteadyWorking capital: 28 days (improving) Efficient
Quarterly Momentum40/100 · Moderate
Revenue (4Q): 3% YoY FlatProfit (4Q): -1% YoY Declining
Industry Rank80/100 · Strong
P/E 27.4 vs industry 39.6 Cheaper than peersROCE 20.6% vs industry 12.8% Above peers3Y sales CAGR: 17% Moderate

Weights: Health 30% · Earnings Quality 25% · Momentum 20% · Industry Rank 15% · Smart Money 10%. Scores are computed from reported financials and recalculated daily. Not investment advice.

Share Price and Basic Stock Data

Last Updated: April 2, 2026, 4:39 am

Market Cap 8,418 Cr.
Current Price 3,624
Intrinsic Value₹1,993.56
High / Low 4,800/2,317
Stock P/E27.4
Book Value 1,079
Dividend Yield0.33 %
ROCE20.6 %
ROE15.0 %
Face Value 10.0
PEG Ratio2.11

Stock P/E, Current Price, and Intrinsic Value Over Time

View Share Price Target for Garware Hi Tech Films Ltd

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
Garware Hi Tech Films Ltd 8,418 Cr. 3,624 4,800/2,31727.4 1,0790.33 %20.6 %15.0 % 10.0
Safari Industries (India) Ltd 7,462 Cr. 1,523 2,507/1,39144.4 2130.20 %18.7 %15.8 % 2.00
EPL Ltd 6,893 Cr. 215 254/17516.7 81.92.32 %17.5 %16.3 % 2.00
VIP Industries Ltd 4,492 Cr. 316 492/248 32.60.00 %1.50 %12.1 % 2.00
AGI Greenpac Ltd 3,253 Cr. 503 1,009/4659.61 3431.39 %19.9 %16.2 % 2.00
Industry Average1,921.04 Cr295.8439.62189.000.36%12.76%24.70%7.38

All Competitor Stocks of Garware Hi Tech Films Ltd

Quarterly Result

MetricDec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales 324349380397454447474621466548495570459
Expenses 279296316332379368356484385443385450388
Operating Profit 4553646575781191378110411011970
OPM % 14%15%17%16%17%18%25%22%17%19%22%21%15%
Other Income 7179991211141217131416
Interest 4544222222222
Depreciation 8101010101010101010111112
Profit before tax 4056596173781181388110911012073
Tax % 25%23%25%24%23%26%25%25%25%29%25%24%24%
Net Profit 304344465658881046178839156
EPS in Rs 13.0918.5418.8119.7624.0524.8838.0344.8826.1733.4935.7339.2724.01

Last Updated: February 1, 2026, 9:16 pm

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 27, 2026, 5:45 am

MetricMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales 8438968578748339489259891,3031,4381,6772,1092,071
Expenses 7748367768017508047637701,0651,2111,3951,6681,668
Operating Profit 6960817383144162219238227282441404
OPM % 8%7%9%8%10%15%17%22%18%16%17%21%19%
Other Income 1627685912153942395461
Interest 374444332519182018171298
Depreciation 34151714141420242832394144
Profit before tax 1427273450120135190231220270445413
Tax % 26%35%38%33%34%32%36%34%28%24%25%26%
Net Profit 10181622338286126167166203331308
EPS in Rs 4.417.647.089.6614.2635.1437.0354.2171.9671.5187.50142.57132.50
Dividend Payout % 0%0%0%10%14%28%27%18%14%14%11%8%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-20242024-2025
YoY Net Profit Growth (%)80.00%-11.11%37.50%50.00%148.48%4.88%46.51%32.54%-0.60%22.29%63.05%
Change in YoY Net Profit Growth (%)0.00%-91.11%48.61%12.50%98.48%-143.61%41.63%-13.97%-33.14%22.89%40.77%

Garware Hi Tech Films Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2014-2015 to 2024-2025.

Growth

Compounded Sales Growth
10 Years:9%
5 Years:18%
3 Years:17%
TTM:20%
Compounded Profit Growth
10 Years:35%
5 Years:31%
3 Years:29%
TTM:31%
Stock Price CAGR
10 Years:39%
5 Years:63%
3 Years:52%
1 Year:-18%
Return on Equity
10 Years:8%
5 Years:11%
3 Years:12%
Last Year:15%

Last Updated: September 5, 2025, 3:31 pm

Balance Sheet

Last Updated: December 4, 2025, 2:56 am

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital 23232323232323232323232323
Reserves 5305455621,2311,2691,3491,3801,5401,6881,8332,0222,3492,483
Borrowings 4403683153121711491471381821410018
Other Liabilities 9610511987107125128167240218279310307
Total Liabilities 1,0891,0421,0201,6531,5701,6461,6791,8682,1332,2142,3242,6822,832
Fixed Assets 5626496481,2311,2261,2381,2791,3291,3411,4671,4501,4421,529
CWIP 86115810112011961023924
Investments 1112936120116226274393363643685
Other Assets 441381366386298277264302423344508557594
Total Assets 1,0891,0421,0201,6531,5701,6461,6791,8682,1332,2142,3242,6822,832

Reserves and Borrowings Chart

Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity + 22911017713414199199172218172330
Cash from Investing Activity + -78-20-5-12-5-101-44-126-141-16846-275
Cash from Financing Activity + 50-107-96-40-172-49-64-366-89-169-52
Net Cash Flow -6-36025-43-8-93837-39482
Free Cash Flow -646392611241154513964152156276
CFO/OP 35%165%131%117%174%116%79%109%90%117%84%100%

Free Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow-371.00-308.00-234.00-239.00-88.00-5.0015.0081.0056.0086.00282.00441.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days 25201726172221169887
Inventory Days 10793111908270100128145109132116
Days Payable 303036395468628976577355
Cash Conversion Cycle 1028291774424585479606768
Working Capital Days -51-58-58-65175179873628
ROCE %5%7%8%5%5%9%10%13%13%12%14%21%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Promoters 60.73%60.73%60.73%60.73%60.73%60.73%60.73%60.73%60.73%60.73%60.73%60.73%
FIIs 0.18%0.12%0.14%0.12%0.31%0.52%1.56%2.69%3.50%3.86%3.58%3.96%
DIIs 2.19%2.35%3.49%3.77%4.21%4.76%4.48%4.33%4.75%4.89%4.96%5.35%
Public 36.91%36.81%35.65%35.38%34.75%34.00%33.25%32.27%31.03%30.53%30.74%29.98%
No. of Shareholders 32,02231,58030,41038,09239,31642,19150,96355,51857,36454,33557,61955,544

Shareholding Pattern Chart

No. of Shareholders

Garware Hi Tech Films Ltd: Intrinsic Value & Share Price Analysis - Shareholder trend analysis

Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)Previous Number of SharesPrevious DatePercentage Change
JM Flexicap Fund 180,925 1.48 76.25209,8122026-02-23 00:39:09-13.77%
LIC MF Large & Mid Cap Fund 144,589 2 60.93187,4392026-03-12 02:55:22-22.86%
LIC MF Multi Cap Fund 105,304 2.43 44.38122,7902026-03-12 02:55:22-14.24%
LIC MF Infrastructure Fund 73,005 3.06 30.7793,2712026-03-12 02:55:22-21.73%
Mahindra Manulife Small Cap Fund 51,963 0.54 21.939,5462026-03-12 02:55:2231.4%
Bandhan Small Cap Fund 47,777 0.1 20.1360,1252026-03-22 13:33:39-20.54%
JM Midcap Fund 46,007 1.71 19.3951,2672026-01-26 06:09:47-10.26%
LIC MF Dividend Yield Fund 45,895 2.92 19.3446,3632026-02-23 00:39:09-1.01%
LIC MF Small Cap Fund 31,965 2.22 13.4729,0032026-01-25 01:27:0610.21%
ITI Balanced Advantage Fund 26,020 2.89 10.97N/AN/AN/A

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 25Mar 24Mar 23Mar 22Mar 21
FaceValue 10.0010.0010.0010.0010.00
Basic EPS (Rs.) 142.5787.5071.5171.9654.21
Diluted EPS (Rs.) 142.5787.5071.5171.9654.21
Cash EPS (Rs.) 160.33104.3085.4684.0964.53
Book Value[Excl.RevalReserv]/Share (Rs.) 1021.00880.15798.81736.42673.01
Book Value[Incl.RevalReserv]/Share (Rs.) 1021.00880.15798.81736.42673.01
Revenue From Operations / Share (Rs.) 908.03721.84618.97560.70425.71
PBDIT / Share (Rs.) 213.30138.19115.94119.44100.57
PBIT / Share (Rs.) 195.55121.40101.99107.3190.25
PBT / Share (Rs.) 191.77116.3394.6799.4681.82
Net Profit / Share (Rs.) 142.5887.5071.5171.9654.21
NP After MI And SOA / Share (Rs.) 142.5887.5071.5171.9654.21
PBDIT Margin (%) 23.4919.1418.7321.3023.62
PBIT Margin (%) 21.5316.8116.4719.1321.20
PBT Margin (%) 21.1116.1115.2917.7319.21
Net Profit Margin (%) 15.7012.1211.5512.8312.73
NP After MI And SOA Margin (%) 15.7012.1211.5512.8312.73
Return on Networth / Equity (%) 13.969.948.959.778.05
Return on Capital Employeed (%) 18.6513.4111.9813.3112.42
Return On Assets (%) 12.348.747.507.836.74
Long Term Debt / Equity (X) 0.000.000.040.060.06
Total Debt / Equity (X) 0.000.000.070.100.06
Asset Turnover Ratio (%) 0.840.730.600.630.54
Current Ratio (X) 4.283.492.742.292.40
Quick Ratio (X) 3.032.181.901.481.71
Inventory Turnover Ratio (X) 7.043.363.284.153.51
Dividend Payout Ratio (NP) (%) 7.0111.4213.9813.890.00
Dividend Payout Ratio (CP) (%) 6.239.5811.7011.890.00
Earning Retention Ratio (%) 92.9988.5886.0286.110.00
Cash Earning Retention Ratio (%) 93.7790.4288.3088.110.00
Interest Coverage Ratio (X) 56.4327.2515.8515.2111.93
Interest Coverage Ratio (Post Tax) (X) 38.7218.2610.7810.167.43
Enterprise Value (Cr.) 9024.013944.521285.741693.991651.93
EV / Net Operating Revenue (X) 4.282.350.891.301.67
EV / EBITDA (X) 18.2112.294.776.107.07
MarketCap / Net Operating Revenue (X) 4.342.420.841.241.64
Retention Ratios (%) 92.9888.5786.0186.100.00
Price / BV (X) 3.861.980.650.941.04
Price / Net Operating Revenue (X) 4.342.420.841.241.64
EarningsYield 0.030.050.130.100.07

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

About the Company - Qualitative Analysis

Garware Hi-Tech Films Ltd. is a Public Limited Listed company incorporated on 06/06/1957 and has its registered office in the State of Maharashtra, India. Company's Corporate Identification Number(CIN) is L10889MH1957PLC010889 and registration number is 010889. Currently Company is involved in the business activities of Manufacture of semi-finished of plastic products (plastic plates, sheets, blocks, film, foil, strip etc.). Company's Total Operating Revenue is Rs. 1995.45 Cr. and Equity Capital is Rs. 23.23 Cr. for the Year ended 31/03/2025.
INDUSTRYADDRESSCONTACT
Packaging & ContainersNaigaon, Aurangabad Maharashtra 431133Contact not found
Management
NamePosition Held
Dr. S B GarwareChairman & Managing Director
Ms. Monika GarwareVice Chairperson & Jt.Managing Director
Mrs. Sarita Garware RamsayJoint Managing Director
Mr. Mohan S AdsulWhole Time Director
Ms. Sonia GarwareNon Exe.Non Ind.Director
Ms. Devanshi H NanavatiIndependent Director
Mr. Vivekanand Heroor KamathIndependent Director
Mr. Chirag DoshiIndependent Director
Mr. Deepak N ChawlaIndependent Director
Mr. Manoj K SonawalaIndependent Director
Dr. Nayan J RawalIndependent Director

FAQ

What is the intrinsic value of Garware Hi Tech Films Ltd and is it undervalued?

As of 11 April 2026, Garware Hi Tech Films Ltd's intrinsic value is ₹1993.56, which is 44.99% lower than the current market price of ₹3,624.00, suggesting the stock is overvalued. This is calculated using the PE ratio method factoring in ROE (15.0 %), book value (₹1,079), dividend yield (0.33 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of Garware Hi Tech Films Ltd?

Garware Hi Tech Films Ltd is trading at ₹3,624.00 as of 11 April 2026, with a FY2026-2027 high of ₹4,800 and low of ₹2,317. The stock is currently in the middle of its 52-week range. Market cap stands at ₹8,418 Cr..

How does Garware Hi Tech Films Ltd's P/E ratio compare to its industry?

Garware Hi Tech Films Ltd has a P/E ratio of 27.4, which is below the industry average of 39.62. This is broadly in line with or below the industry average.

Is Garware Hi Tech Films Ltd financially healthy?

Key indicators for Garware Hi Tech Films Ltd: ROCE of 20.6 % indicates efficient capital utilization. Dividend yield is 0.33 %.

Is Garware Hi Tech Films Ltd profitable and how is the profit trend?

Garware Hi Tech Films Ltd reported a net profit of ₹331 Cr in Mar 2025 on revenue of ₹2,109 Cr. Compared to ₹167 Cr in Mar 2022, the net profit shows an improving trend.

Does Garware Hi Tech Films Ltd pay dividends?

Garware Hi Tech Films Ltd has a dividend yield of 0.33 % at the current price of ₹3,624.00. The company pays dividends, though the yield is modest.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in Garware Hi Tech Films Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE
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