Garware
Hi-Tech Films Ltd. reports a resilient Q4FY21
closes FY21 with
strong growth
Garware Hi-Tech Films Ltd.
Consolidated FY21 PAT at ₹ 125.95Cr, registers 46 % growth in FY21
Mumbai, 27th
May 2021
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 (April’20 - March’21) |
|
·Revenue at ₹ 989.03 Cr (vs ₹
924.83 Cr in FY20) up by 6.9 % on Y-o-Y basis ·Exports contributed ₹ 734.73 Cr (vs ₹ 634.52 in FY20) up
by ₹ 100.21 Cr on Y-o-Y basis ·Earnings Before Interest, Tax, Depreciation, & Amortization
(EBITDA) for the year stood at ₹ 233.65 cr (vs ₹ 173.47 Cr 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 ₹ 125.95 Cr (vs ₹
86.02 Cr in FY20) on Y-o-Y basis ·Earnings per share (EPS) at ₹ 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 Consolidated Q4 FY21 (January-March’21) |
|
·Revenue at ₹ 287.74 Cr (vs ₹ 220.67 Cr 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 ₹ 58.11 cr (vs ₹ 45.85 Cr in Q4
FY20) reflecting 20.2 % EBITDA margin ·Net Profit for the period after tax at ₹ 31.80 Cr (vs ₹
21.07 Cr in Q4 FY20) on Q-o-Q basis ·Earning per share (EPS) at ₹ 13.69, up by 50.9 % over
the corresponding quarter in FY 2019-20 |
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 ₹ 989.03 Cr
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, Mr. 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.”
The Company has
recorded Consolidated Revenues of Rs.287.31 crore for Q3FY21 as against
Rs.205.23 crore for Q3FY20 and Rs. 710.65 crore for 9MFY21 as against Rs.
713.79 crore for 9MFY20. The Consolidated Profit Before Tax was Rs. 64.29 crore
for Q3FY21 as against Rs. 17.04 crore for Q3FY20 and Rs. 143.47 crore for
9MFY21 as against Rs. 98.85 crore for 9MFY20 up by 45.1%. The Consolidated
Profit After Tax was Rs. 42.78 crore for Q3FY21 as against Rs.11.37 crore for
Q3FY20 and Rs. 94.15 crore for 9MFY21 as against Rs. 64.95 crore for 9MFY20.
The Q3FY21 earnings concall is scheduled on 05th Feb. 2021 at 03:00
pm.
Commenting on the
results, Mr. S.B.
Garware, Chairman and Managing Director, GPL, said, “PAT has
increased by 217% QoQ underscoring our focus on world-class execution and
operational excellence and satisfied with our robust third quarter performance.
As a responsible Hi-Tech performance film manufacturing company, we seek to
deliver long-term economic value to our stakeholders. Emphasis towards
specialty products has fueled additional growth in the margins which has
resulted in PBDT Margin reaching 22.75% in quarter 3 FY21. We continue our
focus on growth & see a strong and secure future for the organization given
this growth approach.”
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