Sat, 25 Jun 2022

Mumbai (Maharashtra) [India], May 26 (ANI/NewsVoir): Garware Hi-Tech Films Limited (GHFL) (formerly Garware Polyester Limited), a flagship company of Garware Group and a leading player in specialty Polyester Films in India and Worldwide announced its results audited financial results for the Quarter and Year ended on March 31, 2022.

Announcing the Consolidated Revenue for FY22 at Rs 1,303 crores vis-a-vis Rs 989 Crores in FY21- which is up by 32 per cent YoY. The consolidated EBIDTA for FY22 at Rs 278 crores vis-a-vis Rs 234 crores in FY21, which is up by 19 per cent YoY. The Consolidated PAT for FY22 at Rs 167 crores vis-a-vis Rs 126 crores FY21, up by 33 per cent YoY. Q4 FY22 Consolidated Revenue at Rs 324 crores vis-a-vis Rs 288 crores in Q4 FY21, up by 12 per cent QoQ. Q4 FY22 Consolidated PAT at Rs 45 crores vis-a-vis Rs 32 crores in Q3 FY22, UP BY 42 per cent QoQ. Sarita Garware Ramsay rejoins the Board of Directors bringing in a wealth of experience and also aligning the ownership interests and Board level leadership.

Company also announced to commence production of New lamination capacity augmenting window film business around Q2 of FY23. Further, Garware Hi-Tech Films Limited board recommended 100 final dividend of Rs 10/- per Share for the FY21-22.

Commenting on the results, S B Garware, Chairperson and Managing Director, GHFL said, "Our business initiatives undertaken few years ago with a long-term and in a financially conservative outlook is bearing fruit, and our Company has earned record revenues and profits, despite challenging external environmental factors. In the coming year, we anticipate, our new lamination facility to commence production, and our paint protection film to see increased volume as it has been tested and approved by our major trading partners in USA and Europe.""GHFL's record results is a testament to our commitment to the manufacturing excellence and innovation, all driven by a dedicated team with a strong commitment to sustain world-class quality standards of our products. We are excited about the opportunities ahead in continuing to build a long-term, and a sustainable value for our stakeholders," said Monika Garware, Vice-Chairperson and Jt. Managing Director, GHFL.

Garware Hi-Tech Films Limited (formerly Garware Polyester Ltd.) (BOM: 500655) (BOM: 500655) is the flagship company of the Garware Group co-promoted by the Chairman and Managing Director Shri S.B. Garware in the year 1957 along with the Founder-Chairman Late Padmabhushan Dr. B. D. Garware.

GHFL manufactures Hi-Tech specialty performance polyester Films and has its State-of-the-Art manufacturing facilities at Aurangabad, Maharashtra, India. GHFL is the pioneer and is one of the largest exporters of Polyester Films in India. GHFL has been winner of top exporters' awards for 33 continuous years from PLEXCOUNCIL.

GHFL manufacturing facility at Aurangabad is vertically integrated, from manufacture of polyester chips to the polyester films finished product with four independent manufacturing lines and a business that spans the globe. Polyester Films are used for variety of end-applications such as PET Shrink films for Label application, Low OligomerPET films for insulation of hermetically sealed compressors motors, Electric motor insulation and cable insulation, sequin application films, TV and LCD screen application, Packaging applications etc. GHFL is also the market leader and India's only manufacturer of Sun Control window films for Building, safety, and auto applications.

GHFL has facilities for manufacturing various coated products and co-extruded products for specialty application, apart from its capacity to design the recipe for raw material of PET films to suit the end application of the product. The company has also developed surface-protection films and Paint Protection Films designed to deliver the highest level of protection and impact resistance which has applications in many sectors.

This story is provided by NewsVoir. ANI will not be responsible in any way for the content of this article. (ANI/NewsVoir)

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