Interim report
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The Compliance Manager BSE Limited Corporate Relationship Dept. Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai 400001. Scrip Code: 500655 Dear Sir/ Madam, -�GARWARE\::::!] HI-TECH FILMS October 22, 2026 The Manager, Listing Department National Stock Exchange of India Ltd. Exchange Plaza, Plot No. C/ 1, G Block, Bandra-Kurla Complex, Bandra (East), Mumbai 400 051. Trading Symbol: GRWRHITECH Subject: Outcome of the Board Meeting held on Thursday, October 22, 2026 Pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("Listing Regulations"), we hereby inform you that, the Board of Directors of the Company at its meeting held today i.e. Thursday, October 22, 2026, inter-alia, considered and approved the following: 1. The Unaudited Financial Results (Standalone and Consolidated) of the Company for the quarter and half year ended September 30, 2026, along with Limited Review Reports thereon. A Copy of Results and Limited Review Reports are enclosed herewith. The Press Release, covering the Unaudited Financial Results for the quarter and half year ended September 30, 2026, is enclosed herewith. Investor Presentation on the Unaudited Financial Results for the quarter and half year ended September 30, 2026, is also enclosed herewith. The meeting commenced at 11 :30 A.M. and concluded around� a.m. GARWARE HI-TECH FILMS LIMITED CORPORATE OFFICE: GARWARE HOUSE, 50-A, SWAMI NITYANAND MARG VILE PARLE (EAST), MUMBAI - 400 057. TEL: 0091-22-6698 8000 (15 LINES) WEBSITE: www.garwarehitechfilms.com CIN: LJ0889MHi957PLC010889 REGD. OFFICE: NAIGAON, P.O. WALUJ, CHHATRAPATI SAMBHAJINAGAR - 431 13< (INDIA)
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This is for your information and records. Thanking you, Yours faithfully, For Garware Hi-Tech Films Limited Awaneesh Srivastava Company Secretary FCS 8513 GARWARE HI-TECH FILMS LIMITED CORPORA TE OFFICE GARWARE HOUSE, 50-A, SWAMI NITYANAND MARG VILE PARLE (EAST), MUMBAI - 400 057. TEL: 0091-22-6698 8000 (15 LINES) WEBSITE: www.garwarehitechfilms.com CIN: LI0889MHl957PLC010889 REGO. OFFICE: NAIGAON, P.O. WALUJ, CHHATRAPATI SAMBHAJINAGAR - 431 13, (INDIA)
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J. H. MEHTA & CO. Chartered Accountants 203, Onyx Building, Raj Hans Society, B/H, Lal Bunglow, St. Xavier's Collage Corner Road, Ellisbridge, Ahmedabad- 380006 Email: info@jhmco.in Tel: 079- 26308500 V SANKAR AIYAR & CO. Chartered Accountants A 601, Mangalya Building, Next to Sangeet Plaza Off Maro) Maroshi Road, Andheri (East), Mumbai - 400059 Email: mumbai@vsa.co.in Tel: +91 (22) 2206 7440 INDEPENDENT AUDITORS' LIMITED REVIEW REPORT ON THE UNAUDITED STANDALONE FINANCIAL RESULTS FOR THE QUARTER AND HALF YEAR ENDED ON SEPTEMBER 30, 2026 PURSUANT TO THE REGULATION 33 OF THE SECURITIES AND EXCHANGE BOARD OF INDIA (LISTING OBLIGATIONS AND DISCLOSURE REQUIREMENTS) REGULATIONS, 2015, AS AMENDED To, The Board of Directors of GARW ARE HI-TECH FILMS LIMITED We have reviewed the accompanying statement of Standalone Financial Results of Garware Hi Tech Films Limited ("the Company") for the quarter and half year ended September 30, 2026 ("the Statement"), attached herewith, being submitted by the Company pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended ("Listing Regulations"). This Statement, which is the responsibility of the Company's Management and approved by the Company's Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in the Indian Accounting Standard 34 "Interim Financial Reporting" ("Ind AS 34"), prescribed under Section 133 of the Companies Act, 2013 as amended, read with relevant rules issued thereunder and other accounting principles generally accepted in India and in compliance with Regulations 33 of the Listing Regulations. Our responsibility is to express a conclusion on the Statement based on our review. We conducted our review in accordance with the Standards on Review Engagements (SRE) 2410, "Review oflnterim Financial Information performed by Independent Auditor of the Entity" issued by Institute of Chartered Accountants of India. This standard requires that we plan and perform the review to obtain moderate assurance as to whether the statement is free from material misstatement. A review of Interim Financial Information consists of making inquiries, primarily of the company's personnel responsible for financial and accounting matters and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing and consequently does not enable us to obtain assurance that we could become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion. Based on our review conducted as above, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with applicable Indian Accounting Standards specified under Section 133 of the Companies Act, 2013 as amended, read with relevant rules issued thereunder and other accounting principles generally accepted in India,
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J. H. Mehta & Co. Chartered Accountants V Sankar Aiyar & Co. Chartered Accountants has not disclosed the information required to be disclosed in terms of the Regulations 33 of the Listing Regulations, including the manner in which it is to be disclosed, or that it contains any material misstatement. For J. H. Mehta & Co. Chartered Accountants FRN: 106227W Naitik J Mehta Partner M.No.: 130010 Place: Mumbai Date: October 22, 2026 UDIN: 2 613 O\J \ 0 CJ:£ R BC.. 5q 6 5 For V Sankar Aiyar & Co. Chartered Accountants FRN: 109208W Asha Patel Partner M.No.:166048 Place: Mumbai Date: October 22, 2026 UDIN: J-k.\ b f.o'-'g f'l-\�d.$k l:ll.\ \
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Sr. No. 1 2 3 4 5 6 7 8 9 10 GARWARE HI-TECH FILMS LIMITED CIN: L10889MH1957PLC010889 Registered Office: Naigaon , Post Waluj, Chhatrapati Sambhajinagar (Aurangabad) • 431133 Corporate Office : Garware House 50-A, Swami Nityanand Marg, Vile Parle (E), Mumbai-400 057 Statement of Standalone Unaudited Financial Results for the Quarter and Half Year ended on 30th September, 2026. (Rs. in Crores) For the Quarter Ended For the Half Year Ended For the Year Ended Particulars 30.09.2026 30.06.2026 30.09.2025 30.09.2026 30.09.2025 31.03.2026 ' � �,. (Unaudited) (Unaudited) rpnaudited) (Unaudited) (Unaudited) (Audited) a) Revenue from Operations 634.09 584.14 511.82 1,218.23 964.46 1,947.56 b) Other Income 46.64 16.00 42.85 62.64 56.95 96.59 Total Income 680.73 600.14 554.67 1,280.87 1,021.41 2,044.15 Expenses a) Cost of Materials Consumed 296.62 271.93 221:87 568.55 448.04 917.85 b) Changes in inventories of finished ,.., goods, work-in-progress and stock-in- (0.82) (43.55) 23.58 (44.37) (10.27) (25.98) trade c) Power & Fuel 42.87 39.39 33.81 82.26 64.84 129.27 d) Employees benefit expenses 42.11 43.69 38.50 85.80 78.43 160.31 e) Finance Cost 1.57 1.51 1.27 3.08 2.56 5.35 f) Depreciation and amortisation 12.72 12.50 10.51 25.22 20.81 43.95 expense g) Other expenses 109.15 106.52 93.22 215.67 185.98 378.99 Total Expenses 504.22 431.99 422.76 936.21 790.39 1,609.74 Profit before tax (1-2) 176.51 168.15 131.91 344.66 231.02 434.41 Tax Expenses Current Tax 35.68 37.76 22.67 73.44 45.15 91.94 Deferred Tax 0.96 3.81 2.72 4.77 4.76 7.74 Total Tax Expenses 36.64 41.57 25.39 78.21 49.91 99.68 Net Profit after tax (3-4) 139.87 126.58 106.52 266.45 181.11 334.73 Other Comprehensive Income Items that will not be reclassified to (2.06) 20.55 Profit or Loss (25.22) 18.49 (18.41) (36.65) Income tax relating to items that will not 0.63 (2.87) be reclassified to Profit or Loss 3.78 (2.24) 2.95 5.52 Total Other comprehensive income, net of (1.43) 17.68 income tax (21.44) 16.25 (15.46) (31.13) Total comprehensive income, net of income tax 138.44 144.26 85.08 282.70 165.65 303.60 Paid-up Equity Share Capital ( Face value 23.23 23.23 Rs. 10/· each) 23.23 23.23 23.23 23.23 Reserves excluding Revaluation Reserves 2,563.52 as per Audited Balance Sheet. Earning per share (EPS) in Rs. (Not annualised) a. Basic EPS (Rs.) 60.20 54.49 45.85 114.69 77.96 144.08 b. Diluted EPS (Rs.) 60.20 54.49 45.85 114.69 77.96 144.08
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STANDALONE STATEMENT OF ASSETS & LIABILITIES Rs. in Crores As at As at Sr. Particulars 30.09.2026 31.03.2026 No Unaudited Audited I ASSETS 1 Non-current Assets (a) Property, Plant and Equipment 1,559.89 1,570.61 (b) Capital work• in • progress 37.24 26.42 (c) Intangible assets 1.75 1.85 (d) Intangible assets under Development 2.16 1.02 (e) Financial Assets ,. ,. , (i) Investments 103.44 80.69 (ii) Other financial assets 2.75 2.91 (f) Other non • current assets 50.67 27.97 1,757.90 1,711.47 2 Current assets (a) Inventories 378.98 288.99 (b) Financial Assets �' (i) Investments 711.75 618.19 (ii) Trade receivables 262.59 194.29 (iii) Cash and cash equivalents 35.98 45.14 (iv) Bank balances other than (iii) above 29.45 28.87 (v) Loans 0.20 0.07 (vi) Other financial assets 0.93 0.92 (c) Assets Classified as Held for Sale 0.59 0.58 (d) Other current assets 49.40 44.63 1,469.87 1,221.68 TOTAL ASSETS 3,227.77 2,933.15 II EQUITY AND LIABILITIES 1 Equity (a) Equity share capital 23.23 23.23 (b) Other equity 2,818.34 2,563.52 2,841.57 2,586.75 2 Non-current liabilities (a) Financial Liabilities (i) Lease Liabilities 5.55 6.81 (b) Deferred Tax Liabilities (Net) 67.19 60.18 (c) Provisions 7.03 6.25 79.77 73.24 3 Current liabilities (a) Financial Liabilities (i) Lease Liabilities 4.05 5.34 (ii) Trade payables dues to • Micro and Small Enterprises 23.33 23.98 • Other Than Micro and Small Enterprises 161.30 156.89 (iii) Other Financial Liabilities 48.84 37.97 (b) Other current liabilities 31.38 26.60 (c) Current Tax Liability (Net) 28.14 14.58 (d) Provisions 9.39 7.80 306.43 273.16 TOTAL EQUITY AND LIABILITIES 3,227.77 2,933.15
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STANDALONE CASH FLOW STATEMENT FOR THE HALF YEAR ENDED 30TH SEPTEMBER 2026 Particulars A. Cash flow from operating activities Profit before tax Adjustments for: Add / (Less) : Depreciation and amortisation expense Finance cost •' '; Interest Income Unrealised exchange (gain) / loss (Profit) / loss on sale / write off of Property, Plant & Equipment Dividend Income Sundry balances written back Net gain on financial assets Operating profit/ (loss) Changes in Assets and Liabilities : {Increase)/ decrease in operating assets: Inventories Trade receivables Loans Other financial assets Other assets Increase / {decrease) in operating liabilities: Trade payables Other financial liabilities Other liabilities Provisions Cash generated from operations Direct taxes paid Net cash flow from operating activities {A) B. Cash flow from investing activities Purchase of Property, Plant and Equipment & Intangible Assets Proceeds from sale of Property, Plant and Equipment Interest Income Investment in Subsidiary Dividend Income Net (Investment) / Redemption of Mutual Funds Net cash flow used in investing activities {B) C. Cash flow from financing activities Finance cost (Repayment) of Lease liability Dividend paid Movement in margin money deposit Movement in unclaimed dividend account Net cash flow from / {used in) financing activities {C) Net increase / {decrease) in Cash and cash eguivalents {A+B+C) Cash and cash equivalents (opening as at 1st April) Cash and cash equivalents (closing as at 30th September) Rs. in Crores Half Year Ended 30.09.2026 30.09.2025 Unaudited Unaudited 344.66 231.02 25.22 20.81 3.08 2.56 (0.83) (0.86) 4.48 (2.27) (0.15) - (28.04) (28.26) (0.04) (0.07) (23.22) (14.97) I'' 325.16 207.96 (89.99) (7.40) (74.28) 14.54 (0.13) (0.25) 0.11 0.53 (27.47) (30.33) 5.30 6.09 12.47 9.78 4.78 (20.60) (1.37) (2.18) 154.58 178.14 (59.88) (34.49) 94.70 143.65 (27.06) (86.44) 0.91 - 0.83 0.86 (0.52) - 28.04 28.26 (72.28) (38.99) (70.08) (96.31) (3.08) (2.56) (2.62) (2.47) (27.88) (27.88) 2.99 (17.11) (3.19) (3.21) (33.78) (53.23) (9.16) (5.89) 45.14 19.36 35.98 13.47
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Notes : 1 The above standalone financial results have be.en prepared in accordance with Indian Accounting Standard (Ind As) under section 133 of the Companies Act, 2013 read with relevant Regulation 33 of the SEBI (LODR) Regulations, 2015, reviewed by the Audit Committee and approved and taken on record by the Board of Directors of the Company at their respective meetings held on 22nd October, 2026. 2 The Company operates in one segment only i.e. Polyester Films and therefore, has only one reportable segment in accordance with IND AS 108 ""operating segments"'. 3 Previous period figures have been regrouped and reclassified to make them comparable with the figures of the current period. Place: Mumbai Date: 22nd October, 2026 VICE-CHAIRPERSON AND JOINT MANAGING DIRECTOR
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J. H. MEHTA & CO. Chartered Accountants V SANKAR AIYAR & CO. Chartered Accountants 203, Onyx Building, Raj Hans Society, A 601, Mangalya Building, B/H, Lal Bunglow, St. Xavier's Collage Corner Road, Ellisbridge, Ahmedabad- 380006 Next to Sangeet Plaza Off Marol Marashi Road, Andheri (East), Mumbai - 400059 Email:-mumbai@vsa.co.in Email: info@jhmco.in Tel: 079- 26308500 Tel: +91 (22) 2206 7440 INDEPENDENT AUDITORS' LIMITED REVIEW REPORT ON THE UNAUDITED CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER AND HALF YEAR ENDED ON SEPTEMBER 30, 2026 PURSUANT T0 THKREGULATION 33 OF THE SECURITIES AND EXCHANGE BOARD OF INDIA (LISTING OBLIGATIONS AND DISCLOSURE REQUIREMENTS) REGULATIONS,- 2015, AS AMENDED. To, The Board of Directors of GARWARE HI-TECH FILMS LIMITED 1. We have reviewed the accompanying statement of Consolidated Financial Results of Garware Hi-Tech Films Limited ("the Holding Company") and its subsidiaries (the Holding Company and its subsidiaries together referred to as "the Group") for the quarter and half year ended on September 30, 2026 ("the Statement"), attached herewith, being submitted by the Holding Company pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended ("Listing Regulations"). 2. The Statement, which is the responsibility of the Holding Company's Management and approved by the Holding Company's Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34 "Interim Financial Reporting" ('IND AS 34'), prescribed under section 133 of Companies Act, 2013 as amended, read with relevant Rules issued thereunder and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Listing Regulations. Our responsibility is to express a conclusion on the Statement based on our review. 3. We conducted our review of the Statement in accordance with the Standard on Review Engagements ("SRE") 2410, "Review oflnterim Financial Information Performed by the Independent Auditor of the Entity" issued by the Institute of Chartered Accountants of India. This standard requires that we plan and perform the review to obtain moderate assurance as to whether the Statement are free of material misstatement. A review is limited primarily to inquiries of Holding Company's personnel and analytical procedure applied to financial data and thus provide less assurance than an audit. We have not performed an audit and accordingly, we do not express an audit opinion.
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J. H. Mehta & Co. Chartered Accountants V Sankar Aiyar & Co. Chartered Accountants We also performed procedures in accordance with the Circular No. CIR/CFD/CMD l/44/2019 dated March 29, 2019 issued by the SEBI under Regulation 33(8) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, to the extent applicable. 4. The statement includes the results of the following entities: a. Garware Hi- Tech Films International Limited b. Global Hi- Tech Films Inc. c. Garware Hi-Tech Global Trading FZCO 5. Based on our review conducted and procedures performed as stated in paragraph 3 above and based on the consideration of the Review Reports of other auditors referred to in paragraph 6 below and Management Report referred to in paragraph 7, nothing has come to our attention that causes us to believe that the accompanying statement, prepared in accordance with applicable Indian Accounting Standards specified under Section 133 of the Companies Act, 2013, as amended, read with relevant rules issued thereunder and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of Regulations, including the manner in which it is to be disclosed, or that it contains any material misstatement. Other Matters 6. The accompanying Statement includes Interim Financial Results, in respect of the above two subsidiaries, reflecting total assets of Rs. 297.08 crores as at September 30, 2026, and total revenues of Rs. 286.63 crores and 554.10 crores and total net profit after tax of Rs. 40.55 crores and · Rs. 50.61 crores and total comprehensive income of Rs. 40.55 crores and 50.61 crores for the quarter and half year ended September 30, 2026 respectively, and the share of net cash inflow of Rs. 72.91 crores for the half year ended September 30, 2026 as considered in the Consolidated Financial Results. This Interim Financial Information has been reviewed by other auditors whose reports have been furnished to us by the management and our conclusion on the Statement, in so far as it relates to the amounts and disclosures included in respect of these subsidiaries, is based solely on the reports of the other auditors and the procedures performed by us as stated in paragraph 3 above. 7. The accompanying Statement includes Interim Financial Results, in respect of the above one subsidiary, reflecting total assets of Rs. 0.18 crores as at September 30, 2026, and total revenue of Rs. Nil and total net loss after tax of Rs. 0.10 crores and 0.38 crores and total comprehensive income of Rs. (0.10) crores and (0.38) crores for the quarter and half year ended September 30, 2026 respectively, and the share of net cash flow of Rs. Nil as considered in the Consolidated Financial Results. This Interim Financial Information has not been reviewed by other auditors and has been approved and furnished to us by the Management and our conclusion on the Statement, in so far as it relates to the amounts and disclosures included in respect of these subsidiaries; is based solely on such unaudited financial statement/financial information. In our opinion and according to the information �1;.HT.4 4! t��j'i; ·-.1 'J..:.r • 1:-;,-..__ �;.::: �."t:Dpr-cC �'; ... :';':"� "'
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J. H. Mehta & Co. Chartered Accountants V Sankar Aiyar & Co. Chartered Accountants and explanation given to us by the Management, this financial information is not material to the Group. Our conclusion is not modified in respect of the above matters. For J. H. Mehta & Co. Chartered Accountants FRN: 106227W Naitik J Mehta Partner M.No.: 130010 Place: Mumbai Date: October 22, 2026 UDIN: 2b) 300 lODPQ..PJ\/�2..24 For V Sankar Aiyar & Co. Chartered Accountants FRN: 109208W Asha Patel Partner M.No.:166048 Place: Mumbai Date: October 22, 2026 UDIN: :Z-- b'f:. t>o'1� \_ ":l -:i-�00..31.��
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Sr. No. 1 2 3 4 6 7 8 9 10 11 12 13 GARWARE HI-TECH FILMS LIMITED CIN : L 10889MH1957PLC010889 Registered Office : Naigaon , Post Waluj, Chhatrapati Sambhajinagar (Aurangabad) • 431133 Corporate Office : Garware House 50-A, Swami Nityanand Marg, Vile Parle (E), Mumbai-400 057 Statement of Consolidated Unaudited Financial Results for the Quarter and Half Year ended on 30th September, 2026. (Rs. in Crores) For the Quarter Ended For the Year For the Half Year Ended Ended Particulars 30.09.2026 30.06.2026 30.09.2025 30.09.2026 30.09.2025 31.03.2026 (Unaudited) (Unaudited) (Unaudited) (Unaudited) (Unaudited) {Audited) a) Revenue from Operations 695.53 633.08 '; 569.69 1,328.61 1,064.68 2,120.11 b) Other Income 19.53 19.72 13.86 39.25 27.24 64.84 Total Income 715.06 652.80 583.55 1,367.86 1,091.92 2,184.95 Expenses ' a) Cost of Materials Consumed 294.74 300.91 248.60 595.65 489.03 1,029.20 b) Changes in inventories of finished goods, work-in-progress and stock-in- 20.40 (46.85) 21.55 (26.45) (1�.60) (73.00) trade c) Power & Fuel 42.88 39.41 33.82 82.29 64.87 129.33 d) Employees benefit expenses 51.09 52.78 46.90 103.87 95.34 194.46 e) Finance Cost 2.89 2.45 2.10 5.34 4.15 8.20 f) Depreciation and amortisation 13.05 12.81 10.81 25.86 21.38 45.13 expense g) Other expenses 116.95 114.83 99.38 231.78 199.03 405.41 Total Expenses 542.00 476.34 463.16 1,018.34 861.20 1,738.73 Profit before tax (1-2) 173.06 176.46 120.39 349.52 230.72 446.22 Tax Expenses Current Tax 40.86 41.30 26.69 82.16 51.47 102.69 Deferred Tax 2.76 2.51 2.47 5.27 5.00 5.30 Total Tax Expenses 43.62 43.81 29.16 87.43 56.47 107.99 Net Profit after tax (3-4) 129.44 132.65 91.23 262.09 174.25 338.23 Other Comprehensive Income Items that will not be reclassified to (25.22) 18.49 (18.41) (36.65) Profit or Loss (2.06) 20.55 Income tax relating to items that will not 3.78 (2.24) 2.95 5.52 be reclassified to Profit or Loss 0.63 (2.87) Items that will be reclassified to Profit or 1.71 0.23 3.82 5.15 Loss 0.14 0.09 Income tax relating to items that will be reclassified to Profit or Loss Total Other comprehensive income, net of (1.29) 17.77 (19.73) 16.48 (11.64) (25.98) income tax Total comprehensive income, net of 128.15 150.42 71.50 278.57 162.61 312.25 income tax Profit attributable to : Owners of the parent 129.44 132.65 91.23 262.09 174.25 338.23 Non- controlling Interest - - - - - -Other comprehensive income attributable to: Owners of the parent (1.29) 17.77 (19.73) 16.48 (11.64) (25.98) Non- controlling Interest - - - - - - Total comprehensive income attributable to: Owners of the parent 128.15 150.42 71.50 278.57 162.61 312.25 Non- controlling Interest - - - - - Paid-up Equity Share Capital ( Face value 23.23 23.23 23.23 23.23 23.23 23.23 Rs. 10/- each) Reserves excluding Revaluation Reserves 2,632.93 as per Audited Balance Sheet. Earning per share (EPS) in Rs. (Not annualised) a. Basic EPS (Rs.) 55.71 57.10 39.27 112.81 75.00 145.59 b. Diluted EPS (Rs.) 55.71 57.10 39.27 112.81 75.00 145.59
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STATEMENT OF CONSOLIDATED ASSETS & LIABILITIES Rs. in Crores As at As at Sr. Particulars 30.09.2026 31.03.2026 No. Unaudited Audited I ASSETS 1 Non-current Assets (a) Property, Plant and Equipment 1,563.38 1,574.66 (b) Capital work - in - progress 37.24 26.42 (c ) Intangible assets 1.75 1.85 (d ) Intangible assets under Development 2.16 1.02 (e ) Financial Assets. ,- , (i) Investments 'i 101.58 79.35 (ii) Other financial assets 2.75 2.91 (f) Deferred tax assets (Net) 1.09 0.95 (g) Other non - current assets 50.67 27.97 1,760.62 1,715.13 2 Current assets (a) Inventories 460.99 389.25 (b) Financial Assets t"' (i) Investments 711.75 618.19 (ii) Trade receivables 71.56 53.08 (iii) Cash and cash equivalents 191.62 126.53 (iv) Bank balances other than (iii) above 29.45 28.87 (v) Loans 0.37 0.07 (vi) Other financial assets 0.93 0.92 (c) Assets Classified as Held for Sale 0.59 0.58 (d) Other current assets 91.67 78.57 1,558.93 1,296.06 TOTAL ASSETS 3,319.55 3,011.19 II EQUITY AND LIABILITIES 1 Equity (a) Equity share capital 23.23 23.23 (b) Other equity 2,883.62 2,632.93 2,906.85 2,656.16 2 Non-current liabilities (a) Financial Liabilities (i) Lease Liabilities 7.40 9.09 (b) Deferred Tax Liabilities (Net) 54.94 47.30 (c) Provisions 7.03 6.25 69.37 62.64 3 Current liabilities (a) Financial Liabilities (i) Lease Liabilities 5.21 6.57 (ii) Trade payables dues to • Micro and Small Enterprises 23.33 23.98 • Other Than Micro and Small Enterprises 161.88 156.85 (iii) Other Financial Liabilities 52.85 39.85 (b) Other current liabilities 56.58 39.37 (c) Current Tax Liability (Net) 34.09 17.97 (d) Provisions 9.39 7.80 343.33 292.39 TOTAL EQUITY AND LIABILITIES 3,319.55 3,011.19
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CONSOLIDATED CASH FLOW STATEMENT FOR THE HALF YEAR ENDED 30TH SEPTEMBER 2026 Particulars A. Cash flow from operating activities Profit before tax Adjustments for: Add/ (Less) : Depreciation and amortisation expense Finance cost ,. ,-Interest income '/ Unrealised exchange (gain) / loss (Profit)/ loss on sale / write off of Property, Plant & Equipment Profit on sale of investment Dividend Income Sundry balances written back Provision for Doubtful Advances Net gain on financial assets Operating profit/ (loss} Transfer of Foreign Currency Translation Reserve Changes in Assets and Liabilities : (Increase} / decrease in operating assets: Inventories Trade receivables Loans Other financial assets Other assets Increase/ (decrease} in operating liabilities: Trade payables Other financial liabilities Other liabilities Provisions Cash generated from operations Direct taxes paid Net cash flow from operating activities (Al B. Cash flow from investing activities Purchase of Property, Plant and Equipment & Intangible Assets Proceeds from sale of Property, Plant and Equipment Interest Income Dividend Income Net (Investment)/ Redemption of Mutual Funds Net cash flow used in investing activities (Bl C. Cash flow from financing activities Finance cost (Repayment) of Lease liability Dividend paid Movement in margin money deposit Movement in unclaimed dividend account Net cash flow from / (used in} financing activities (C} Net increase/ (decrease} in Cash and cash eguivalents {A+B+C} Cash and cash equivalents (opening as at 1st April) Effects of exchange rate changes on cash and cash eguivalents Cash and cash equivalents (closing as at 30th September) Rs. in Crores Half year Ended 30.09.2026 30.09.2025 Unaudited Unaudited 349.52 230.72 25.86 21.38 5.34 4.15 (3.05) (1.48) 4.48 (1.70) (0.15) . (0.13) (0.20) (0.04) (0.07) . . (23.22) (14.9-7) 358.61 237.83 (1.36) 3.83 (71.74) (10.26) (24.50) 9.04 (0.30) (0.25) 0.11 0.53 (35.80) (31.20) 5.92 5.05 14.60 9.39 17.21 (19.96) (1.37) (2.18) 261.38 201.82 (66.04) (38.79) 195.34 163.03 (27.07) (86.82) 0.91 3.05 1.48 0.13 0.20 (72.28) (38.99) (95.26) (124.13) (5.34) (4.15) (3.11) (2.88) (27.88) (27.88) 2.99 (17.11) (3.19) (3.21) (36.53) (55.23) 63.55 (16.33) 126.53 110.50 1.54 (0.57) 191.62 93.60
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Notes : 1 The above consolidated financial results have been prepared in accordance with Indian Accounting Standard (Ind As) under section 133 of the Companies Act, 2013 read with relevant Regulation 33 of the SEBI (LODR) Regulations, 2015, reviewed by the Audit Committee and approved and taken on record by the Board of Directors of the Company at their respective meetings held on 22nd October, 2026. 2 The Company operates in one segment only i.e. Polyester Films and therefore, has only one reportable segment in accordance with IND AS 108 "operating segments". 3 The above consolidated results comprise the results of Garware Hi-Tech Films Limited (parent), Garware Hi-Tech Films International Limited (100% subsidiary), Garware Hi Tech Global Trading FZCO (100% subsidiary) anil tilobal Hi-Tech Films Inc (100% step d9wn subsidiary). 4 Previous period figures have been regrouped and reclassified to make them comparable with the figures of the current period. Place: Mumbai Date: 22nd October, 20 ""'::::::=;::::::::_.... VICE-CHAIRPERSON AND JOINT MANAGING DIRECT9R
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Media Release GHFL Delivers Record Q2 FY27: Revenue Hits All-Time High close to INR 700 Cr Backed by a robust 28.7% H1 margin, GHFL raises its FY27 EBITDA guidance by 200 bps (to 27% ±2%) while reaffirming its INR 2,500+ Cr Revenue target. Mumbai, October 22, 2026: Garware Hi-Tech Films Limited (GHFL), a global manufacturer of Solar Control Films, Paint Protection Films and other Specialty Films, announced its unaudited FINANCIAL RESULTS FOR THE QUARTER AND HALF YEAR ENDED SEPTEMBER 30, 2026. Consolidated Financial Summary INR crores (except EPS) Particulars Q2 FY27 Q2 FY26 Y-o-Y% Q1 FY27 Q-o-Q% H1 FY27 H1 FY26 Y-o-Y% Revenue from operations 696 570 22% 633 10% 1329 1065 25% EBITDA 189 133 42% 192 (1) % 381 256 49% EBITDA Margin % 27.2% 23.4% 377 bps 30.3% (311) bps 28.7% 24.1% 459 bps PBT 173 120 44% 176 (2) % 350 231 51% PBT Margin % 24.9% 21.1% 375 bps 27.9% (299) bps 26.3% 21.7% 464 bps Cash Profit 145 105 39% 148 (2) % 293 201 46% PAT 129 91 42% 133 (2) % 262 174 50% PAT Margin % 18.6% 16.0% 260 bps 21.0% (234) bps 19.7% 16.4% 336 bps EPS in (INR) 55.7 39.3 42% 57.1 (2) % 112.8 75.0 50% Financial Highlights Strong Operating Performance Drives Peak 27.2% Q2 EBITDA Margin, Despite Geopolitical Headwinds • Record-Breaking Revenue Performance: Revenue from operations reached a record ₹696 crore, registering 22% YoY and 10% QoQ growth, driven by robust demand and improved realizations across product segments, despite slowdown in the Middle East amid the ongoing conflict. • Strong Margin Expansion: EBITDA increased 42% YoY to INR 189 crore, with EBITDA margin expanding by 377 basis points to 27.2% from 23.4% in Q2 FY26. The improvement was driven by operating leverage and a favourable product mix, which helped offset higher raw material and logistics costs. • Robust Earnings Growth: PAT increased 42% YoY to INR 129 crore, with PAT margin expanding to 18.6% from 16.0% in Q2 FY26, reflecting improved operational performance and profitability.
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Media Release Strong Cash Generation and Optimised Working Capital • Strong Liquidity Position: Cash and cash equivalents stood at INR 933 crore as of September 30, 2026. • Strong WC Discipline: Working capital days stood at 29 days as of September 30, 2026, remaining broadly stable against 28 days in FY26 reflecting prudent inventory management and disciplined control over receivables and payables as revenue scales. Strategic & Operational Highlights Capacity Expansion & Strategic Partnerships • Capex-Led Growth Momentum: TPU line commissioning remains on track for Q3 FY27. The INR 191 crore SCF line, equipped with advanced robotics and automation, is expected to commence commercial production in H1 FY28, adding ~1,200 LSF of fungible capacity. • Strategic Collaboration with Lubrizol: Signed an MoU with Lubrizol to develop advanced TPU-based film solutions in India, combining Lubrizol’s technology expertise with GHFL’s manufacturing capabilities and strengthening the premium PPF growth opportunity. Product Innovation & New Growth Segments • PDLC - Entry into Smart Architecture: Launched state of the art facility for switchable privacy film, enabling instant switching between transparent and opaque states. • Consumer Product Launches: Introduced car-care products and Ultra Series WF kits with a 1-year warranty. • Digital Services: Launched the e-Warranty portal and Pine Labs No Cost EMI facility. D2C Expansion & Market Penetration • Global Expansion: Opened two new Global Application Studios (GAS) in the USA during Q2 FY27, taking the total global network to 14 studios, comprising 11 in the USA and 3 in the Middle East. • Domestic Expansion: Scaled to 14 Garware Home Solutions (GHS) studios, up from 9 in Q1 FY27 • GHS Growth Roadmap: Plans to add 12 studios in Q3 with launches in Delhi NCR and Mumbai, targeting 50 studios by Dec’27.
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Media Release Global Outreach & Distribution Growth • International Exhibitions: Participated in Automechanika Frankfurt, Tinter Battle, WFCT (USA) and LOUPE Chicago. • Distributor Network: Added 4 new global distributors. Architecture & Graphics Business Expansion • Industry Engagement: Participated in ESP Expo Mumbai, Media Expo Delhi, Technology Day at Reliance Corporate Park and Architect Meet Jammu. • Channel Expansion: Added 3 new channel partners. • Key Customer Wins: Secured new business opportunities with Leading malls and hospitality chains. Digital & Social Media Momentum • Engagement: Instagram community grew 25% YoY, Facebook grew 10%, and Global LinkedIn followers increased 400%. Website traffic increased as high as 1.1Lakh visitors per month. Annualised rate of digital footprints touched 18 crores. Commenting on the results, Dr S. B. Garware, Chairman and Managing Director, GHFL said: “We have delivered an exceptional performance despite significant headwinds, and we remain focused on sustainable growth and creating long-term value.” Ms. Monika Garware, Vice Chairperson and Joint Managing Director, GHFL added, “We have delivered a strong performance in Q2 and H1 FY27, achieving record quarterly revenue alongside significant growth in profitability. Our H1 EBITDA margin of 28.7%, well above our guidance range of 23%-27%, reflects the strength of our business model, a favourable product mix, continued operational efficiencies and an enhanced focus on niche products. During the quarter, we continued to strengthen our customer engagement, expand our distribution network and advance strategic initiatives across automotive, architectural and specialty films. With the TPU line expected to become operational in Q3 FY27 and further capacity additions underway, we are building the capabilities to address emerging market opportunities and support our next phase of growth.”
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Media Release About Garware Hi-Tech Films Limited (GHFL): GHFL (BSE: 500655 | NSE: GRWRHITECH), is one of the largest manufacturers of Sun Control window films for architectural & automotive applications, paint protection films and high-end BOPET films for label and industrial applications. The Company has been recognized as a world class brand and leverages its state -of-the-art nano -dispersion and other cutting -edge technologies to maintain its market leadership. Being vertically integrated, it tightly controls product quality and provides a great value proposition to its customers. It has a strong presence in 90+ countries. * * * For further information, please feel free to contact: Amar Yardi Email: amar.yardi@garwarehitech.com Mobile: +91 70451 21239 Garima Singla Email: garima@goindiaadvisors.com Mobile: +91-9780042377
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Q2 & H1 FY27 Investor Presentation
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CONTENTS 01 Business Highlights 02 Company Overview 03 Product Overview 04 ESG
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Safe Harbour Our discussion may include predictions, estimates or other information that might be considered forward-looking. While these forward-looking statements represent our current judgment on what the future holds, they are subject to risks and uncertainties that could cause actual results to differ materially, some of which maybe beyond management control. No assurance is given about future events or the actual results, which may differ materially from those projected herein. You are cautioned not to place undue reliance on these forward-looking statements, which reflect our opinions only as of the date of this presentation. Please keep in mind that we are not obligating ourselves to revise or publicly release the results of any revision to these forward-looking statements considering new information or future events. Throughout today’s discussion, we will attempt to present some important factors relating to our business that, which we presently believe, may affect our predictions. You should also review our most recent annual reports, disclosures, and regulatory filings for a more complete discussion of these factors and other risks. This presentation does not constitute an offer to sell or a solicitation of an offer to buy or sell GHFL stock and in no event shall the Company be held responsible or liable for any damages or lost opportunities resulting from use of this material or any guidance or any other statements given by the management. Numbers for previous periods may have been regrouped / rearranged / reworked for comparison purpose and for better analysis. Growth rates have been calculated based on reported INR financial information.
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A GreenPro Certified company Message from the CMD Ms. Monika Garware Vice Chairperson and Joint Managing Director “We have delivered a strong performance in Q2 and H1 FY27, achieving record quarterly revenue alongside significant growth in profitability. Our H1 EBITDA margin of 28.7%, well above our guidance range of 23%-27%, reflects the strength of our business model, a favourable product mix, continued operational efficiencies and an enhanced focus on niche products. During the quarter, we continued to strengthen our customer engagement, expand our distribution network and advance strategic initiatives across automotive, architectural and specialty films. With the TPU line expected to become operational in Q3 FY27 and further capacity additions underway, we are building the capabilities to address emerging market opportunities and support our next phase of growth.” Dr. S B Garware Chairman and Managing Director “We have delivered an exceptional performance despite significant headwinds, and we remain focused on sustainable growth and creating long-term value.”
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A GreenPro Certified company Q2 & H1 FY27 Consolidated Financial Performance (Rs. In Cr.) Revenue PBT PAT 23.4% 27.2% 21.1% 24.9% 16.0% 18.6%Margins 133 189 Q2FY27Q2FY26 120 173 Q2FY27Q2FY26 570 696 Q2FY27Q2FY26 EBITDA 91 129 Q2FY27Q2FY26 Revenue PBT PAT 24.1% 28.7% 21.7% 26.3% 16.4% 19.7%Margins 256 381 H1FY27H1FY26 231 350 H1FY27H1FY26 1,065 1,329 H1FY27H1FY26 EBITDA 174 262 H1FY27H1FY26 Q2 FY27 H1 FY27
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A GreenPro Certified company Revenue from Operations (₹ Cr) Quarterly Consolidated Performance Trend – Q2 & H1 FY27 EBITDA (₹ Cr) & EBITDA Margin (%) PAT (₹ Cr) & PAT Margin (%) 447 475 621 466 548 495 570 459 597 633 696 Q4 FY24 Q1 FY25 Q2 FY25 Q3 FY25 Q4 FY25 Q1 FY26 Q2 FY26 Q3 FY26 Q4 FY26 Q1 FY27 Q2 FY27 90 130 150 94 121 123 133 87 157 192 189 Q4 FY24 Q1 FY25 Q2 FY25 Q3 FY25 Q4 FY25 Q1 FY26 Q2 FY26 Q3 FY26 Q4 FY26 Q1 FY27 Q2 FY27 20.1% 27.4% 24.2% 20.1% 22.2% 23.4% 18.9% 58 88 104 61 78 83 91 56 108 133 129 Q4 FY24 Q1 FY25 Q2 FY25 Q3 FY25 Q4 FY25 Q1 FY26 Q2 FY26 Q3 FY26 Q4 FY26 Q1 FY27 Q2 FY27 12.9% 18.6% 16.8% 13.0% 14.2% 16.8% 12.2% 24.8% 16.0% 26.2% 18.1% EBITDA Bridge (₹ Cr) – Q2 FY27 133.3 5.7 71.8 -4.2 -1.1 -16.5 189.0 Q2 FY26 Other Income Operating Profit Employee Cost Sales & Marketing Other Expense Q2 FY27 Increase Decrease Total 30.3% 21.0% EBITDA Bridge (₹ Cr) – H1 FY27 256.3 12.0 153.7 -8.5 1.5 -34.3 380.7 H1 FY26 Other Income Operating Profit Employee Cost Sales & Marketing Other Expense H1 FY27 Increase Decrease Total 27.2% 18.6%
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A GreenPro Certified company Strategic Technology Partnership GHFL × Lubrizol: Building India's Defining TPU Platform ₹118 Cr TPU extrusion platform investment 75% 150-200bps Backward integration for premium PPF 25% New product development & technology capabilities Consolidated EBITDA margin improvement BACKWARD INTEGRATION FASTER INNOVATION NEW SPECIALTY FILM APPLICATIONS Lubrizol’s TPU technology + Garware’s manufacturing expertise
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A GreenPro Certified company Entering a New Growth Vertical - PDLC Films for Smart Architecture Technology-led, high-value smart privacy solutions for modern buildings Transparent Opaque Target Segments Commercial Offices IT / ITES BFSI Healthcare Hospitality Complements Glass Manufacturers Upgrade existing glass with smart functionality rather than replace it. UPGRADE EXISTING GLASS.UNLOCK SMART PRIVACY . PDLC film enables instant switching between transparent and opaque states. RETROFIT-LED SOLUTION Add smart privacy to existing glass without replacing it. INTEGRATED OFFERING PDLC film → Cut-to-size processing → Controllers → On-site application EXISTING ECOSYSTEM ADVANTAGE Leverages the existing film network and relationships with architects, PMCs and end-users. 1 2 3
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FY25 Actual FY26 Actual FY27E (Updated) Medium-term Commitments FY28-31 Organic sales growth 25.8% ₹2,109 Cr 0.5%* ₹2,120 Cr >20% ₹2,500+ Cr ~20% CAGR EBITDA margin (Including Other Income) 23.5% ₹495 Cr EBITDA 23.6% ₹500 Cr EBITDA 27% ± 2% >27% (+150–200 bps TPU) Garware Home Solutions (100% D2C Arch.) Pilot Launch 6 Studios 50 Studios >200 Studios Garware Application Studios (GAS) (100% D2C PPF) 200+ Studios India 250+ India +11 US & MENA >300 India +US & MENA >400 India + US+ MENA ROCE (%) 27% 59 cr capex 23% 161 cr capex >25% ~170 cr capex >25% H1FY27 Actual 25% ₹1,329 Cr 28.7% ₹381 Cr EBITDA 14 Studios 250+ India +14 US & MENA 32%** 27 cr capex Raises FY27 EBITDA Margin Guidance to 27% ±2% FY27 revenue target of ₹2,500 Cr+ reaffirmed *Tariff related impact ** Annualised ROCE Adjusted for Revaluation reserve of ₹ 764 Cr
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A GreenPro Certified company Marketing Strength & Global Reach Over 3 Decades of Innovation, Excellence & Growth A GreenPro Certified company • Revenue CAGR 17%* (FY21-FY26) • PAT CAGR 22% (FY21-FY26) • WC Days 29* • 933 Crores liquidity surplus* • Leading global manufacturer of hi-tech, value-added specialty films • Fully integrated chips-to- film operations • Diverse, customized portfolio of 3,000+ SKUs • World’s largest single- location SCF capacity • India’s only producer of professional-grade PPF • 2 state-of-the-art manufacturing facilities having multiple production lines • Technology-driven, backed by strong R&D with patented innovations Product Line MT/LSF pa IPD 42,000 MT SCF 4,200 LSF PPF 600 LSF Chips Plant 66,000 MT Installed Capacity Winning Model Operational Excellence Business Metrics *As on H1FY27 • Extensive Global distribution network with presence across 90+ countries • Dedicated architecture films teams in USA, Europe, India & Middle East driving focused market expansion. • 250+ Garware Application Studios (GAS) consumer experience - led centers for PPF application. • First-of-its-kind Global Application Studios to be launched in Middle East & USA • First-in- class Garware Home Solutions launched in India *SCF: Sun Control Films Consumer Product Division (CPD) 73%* of Revenue • Automotive SCF • Architectural SCF • Paint Protection Films (PPF) • Garware home solutions • Safety Films Industrial Product Division (IPD) 27%* of Revenue • Shrink Film • Electrical / Electronics Insulation • Release Liners • Thermal Lamination • Plain Film • Packaging & Lidding Film Full Stack Portfolio Value added Products Contribution 86%* *PPF: Paint Protection Films *FY21-25 Revenue CAGR 21% *Consolidated
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A GreenPro Certified company 2017-2026: The Value Transformation Journey Scaling the VAP Business and Unlocking Endless Opportunities Ahead *Consolidated Financial Numbers Pivot towards B2C businesses , resulting in : • Highly differentiated product portfolio • Backed by strong Marketing and Distribution channel • Strong performance in the specialty films industry • Higher margins Revenue ₹ 2,120 Cr EBITDA Margin 23.6% Export Share 75% VAP contribution (%) 87% Next leg of growth to come from these verticals: FY27 & Beyond FY18 to FY26 0 Value Added Specialty Films Sun Control Films (Archi & Auto) Paint Protection Films Graphic Solutions Garware Home Solutions TPU Products Revenue CAGR ~20% EBITDA Margin 27% ± 2% Export Share 70%+ VAP contribution (%) 85%+ *The actual numbers might vary as per the change in Macro-economic situation
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A GreenPro Certified company A Journey of Scalable Innovation Driving consistent capacity expansion and higher value creation through specialty and performance films. Commodity Films Value Added Specialty Films 2026 : Doubled PPF capacity to 60mn sq. ft. Commissioned in Q2 FY26 2018 : Transitioned into value added specialty films 2021 : Entered PPF Market with an installed capacity of 30mn sq.ft. 2027: TPU Line (Q3 FY27) Estimated Capex of 118Cr with 360 LSF p.a. Capacity Output 2022 : Increased SCF Capacity from 240mn sq. ft. To 420mn sq. ft. 874 833 948 925 989 1303 1438 1677 2109 2120 9% 11% 16% 19% 24% 21% 19% 19% 24% 24% FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY25 FY26 FY27 A GreenPro Certified company FY28 2028: SCF Line (H1 FY28) Estimated Capex of 192Cr with 1200 LSF p.a. Capacity Output 2024 : Debottlenecking of old SCF lines
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A GreenPro Certified company A GreenPro Certified company Synergising Best in class marketing strategies & Hi-tech products Dedicated R&D Committed R&D professionals, including technical and scientific staff, supported by pilot plant facilities. Expanding Our Touchpoints Attracting a larger customer base through continuously expanding GAS network and launching first-of-its-kind End-to-End Garware Home solutions for Architectural Business Reducing Environmental Footprint The only Indian company to get GreenPro certified from IGBC(CII) in architectural films and to produce PCR grade & APR certified Shrink Films Introduction of new-age Technologies GARNEST a Proprietary software to deliver pre-cut PPF patterns designed for Indian vehicles - aimed at saving time and reducing material costs. Expanding our product portfolio Launching brand new ceramic and graphene coating for vehicles, Colour PPF, DIY detailing kit. Creating superior products Proprietary nano-dispersion technology - key to producing high-quality durable NIR blocking films to maintain market leadership Loyal Brand Ambassadors 55+ high quality hands-on training sessions delivered, more than 1,000 applicators trained, & over 150 cities have been covered Comprehensive PPF solutions First‐in‐Class initiatives of Bajaj Finance scheme, partnership with Insurance Dekho; redefining the Indian Automotive care market
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A GreenPro Certified company Business Strategy | Four Pillars Value - Added Specialty films Manufacturing Excellence Fostering Sustainable Annual Financial Performance Strengthening Domestic Market Share • Fully vertically integrated chips-to- film manufacturer. • Scalable production through fungible capacities. • Strong R&D to produce VAP films with unique patented technologies. • Comprehensive quality control and flexibility in delivering customized products across a range of over 3,000+ SKUs. • Manufacturers & suppliers of premium quality value accretive products with focus on consumer products. • Key application in architectural, automobiles, FMCG, Industrial sector. • Capability to produce diversified customized products. • Solid sales & marketing strategy to drive exponential growth. • Launch of safety glazing film and strengthening PPF distribution channel. Strengthening team to grow architecture business. • Comprehensive training program for applicators and tinters. • OEM Tie ups and expanding D2C share • Resilient performance despite challenging business environment. • Sustainable Margins for Specialty films. • Improved Financial Health. 86% H1FY27 Value Added Products contribution • SunControl Window Film • Paint Protection Film • Shrink Film Healthy Cash flows Net Zero debt • Revenue CAGR* of 17% • EBITDA CAGR* of 16% • Regular Dividend paying company *from FY21 - FY26 2 Manufacturing Locations 250+ Garware Application Studios (GAS) & Distributors for exclusive access to Safety Glazing Films and PPF 1,000+ Applicators trained in India ₹ 933 crores liquidity surplus (as on 30th Sep 2026) 42,000 MT pa – IPD Capacity 4,800 LSF pa – CPD Capacity Customer - Centric Growth
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A GreenPro Certified company Product Overview Architectural Window Films SunControl Film (SCF) Superior UV protection enhancing comfort in residential and commercial environments while effectively reducing energy consumption. Automotive Safety Glazing Film High Technology Safety Glazing Films combine innovation with compliance to CMVR regulations, improving visibility, safety, and energy efficiency. Paint Protection Film (PPF) As leaders in automotive PPF technology, we offer advanced, durable solutions with excellent aesthetics, supported by a top-tier warranty. GAS and PPF Distributors 250+ 300 Current Target Garware Application Studios (GAS) Industrial products Division Shrink Film Leading player in India's shrink film market with ~70% market share with multiple products Electrical & Electronics Used in electronics industry for electrical insulation, moisture resistance, thermal and dimensional stability. Release Liners Coated with silicon on one side to enhance release properties & used in applications like release labels
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A GreenPro Certified company Product Strategy | Premium Market Positioning Tier 1 Brand A premium global brand, ranking top 3 in USA & Europe Technology Edge Winner of Prestigious award from Japan Institute of Plant Maintenance (JIPM) Global Patents Over 10 Registered/Pending Patents and 168 Registered Trademarks. Premium PPF The only manufacturer of professional-grade PPF in India. #1 Rank at Tint-Off Contest in USA 1st India’s first company to produce PCR grade & APR certified Eco-friendly Shrink Films. World’s Largest One of World’s largest Single- location SCF capacity ~70% Leading player in India's shrink film market with ~70% market share. Gold Shield Awarded Gold Shield by the Government of India. 38 Years Winner - Top Exporters’ Award for 37 years (Plexcouncil) 01 02 03 04 05 06 08 09 10 07 Our 'Global' and 'Garware' brands target the high-end market, setting them apart from international competitors in the premium and economy categories Economy segment mainly dominated by Chinese and Korean players Super Premium EconomyPremium
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A GreenPro Certified company Environmental Stewardship Customer Centric ESG Commitment Our sophisticated and well - designed programs are well aligned with the UN's Sustainable Development Goals 2030 of Climate Action (SDG #13) Energy Efficiency • Transition to LED lighting and high - efficiency motors. • Ongoing process optimization for energy conservation. Zero Waste Achievement • Zero Liquid Discharge initiatives • 100% water recycling through advanced treatment processes. Advanced Waste Management • Cutting-edge technology to reduce sludge and prevent pollution. • Efficient conversion of liquid waste to solid for better disposal. Circular Economy Integration • Use of certified post-consumer recycled PET in products. • Active recycling and reuse of plastic waste in line with EPR. Innovative Leadership First in India to replace PVC with recyclable PETG. Eco-Friendly Materials 30% PCR usage in film products. SunControl films reducing fuel use & emissions by 3-5%. 3-5% Safety Award Awarded by National Safety Council. APR Active membership with the Association of Plastic Recyclers, USA. ISO Certification Awarded ISO 50001:2018 Certification 1st Indian company in architectural films segment to earn this recognition. GreenPro Certified (CII & IGBC) Green Belt Expansion • Over 35% open land developed as green belts. • In-house nursery promoting local flora. Clean Fuel Usage • Biomass briquettes replacing fossil fuels. • Shift from furnace oil to LPG to cut emissions. Water Conservation • Comprehensive Rainwater harvesting systems. • Full reuse of treated water, minimizing freshwater use. Land Conservation • Enhanced groundwater levels through innovative technologies. • Recharging 20 million litres of water annually to the ground.
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A GreenPro Certified company Building Better Communities, Creating Lasting Impact Our CSR Initiatives across healthcare, wellness, environment and community support Drinking Water Support Ensuring Access to Clean Water Eye Check Up Camp Supporting Health & Wellness International Yoga Day Promoting Wellness & Holistic Living World Environment Day Plantation Programme Taking action today for a cleaner, greener and sustainable future Digital Infrastructure Support Empowering Communities through Education & Technology A GreenPro Certified company
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A GreenPro Certified company Consolidated Annual Performance PAT (₹ Cr) EBITDA (₹ Cr) Current Ratio (x) Revenue from Operations (₹ Cr) Collection Days Fixed Assets Turnover ratio (x) Cash, Bank & Liquid Funds** (₹ Cr) ROE & ROCE* (%) 73% 70% 78% 77% 75% 27% 30% 22% 23% 25% FY22 FY23 FY24 FY25 FY26 Export Domestic 1,303 1,438 1,677 2,109 277 269 321 495 500 21.3% 18.7% 19.1% 23.5% 23.6% - 50 100 150 200 250 300 350 400 FY22 FY23 FY24 FY25 FY26 0.0% 5.0% 10.0% 15.0% 20.0% EBITDA Margin 167 166 203 331 338 12.8% 11.6% 12.1% 15.7% 16.0% 0.0% 2.0% 4.0% 6.0% 8.0% 10.0% 12.0% 14.0% 16.0% FY22 FY23 FY24 FY25 FY26 -30 20 70 120 170 220 PAT Margin 4.4 3.8 3.5 4.3 4.4 FY22 FY23 FY24 FY25 FY26 11 8 8 7 8 FY22 FY23 FY24 FY25 FY26 - 5 10 15 20 25 30 35 22.5% 19.5% 21.1% 27.2% 23.3% 17.7% 15.2% 15.9% 20.6% 17.9% FY22 FY23 FY24 FY25 FY26 ROCE ROE 2.1 2.1 2.4 2.9 2.5 0.9 1.0 1.1 1.4 1.3 FY22 FY23 FY24 FY25 FY26 Adj Fixed Assets Turnover* Fixed Assets Turnover ratio *Adjusted for Revaluation reserve of ₹ 764 Cr ; **Debt repayment of ₹ 141 cr in FY24 308 387 388 650 774 FY22 FY23 FY24 FY25 FY26 Cash 182 141 0 0 0 Gross Debt 2120
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THANK YOU Garware Hi-Tech Films Limited CIN: L10889MH1957PLC010889 Amar Yardi amar.yardi@garwarehitech.com / ir@garwarehitech.com Go India Advisors - Investor Relation contact Diya Kaswa Go India Advisors Mail id : diya@goindiaadvisors.com M : 91 9834167860 Garima Singla Go India Advisors Mail id : garima@goindiaadvisors.com M : 91 9780042377