Garware Hi-tech Films Limited · NSE:GRWRHITECH
Garware Hi-tech Films — Q4 FY25 Earnings Presentation
44 slides from Garware Hi-tech Films's earnings presentation, May 14, 2025
Slide 1: Exchange filing cover letter
May 14, 2025 The Compliance Manager The Manager, Listing Department BSE Limited National Stock Exchange of India Limited Corporate Relationship Dept. Exchange Plaza, Plot No. C/1, G Block, Phiroze Jeejeebhoy Towers, Bandra-Kurla Complex, Dalal Street, Mumbai 400001. Bandra (East), Mumbai 400 051. Sc
Slide 2: Q4 & FY25 - Investor Presentation
Q4 & FY25 - Investor Presentation May 2025 1
Slide 3: Safe Harbour
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
Slide 4: Contents
Contents Automobile Window Architecture Safety 3 01 Q4 & FY25 Highlights 02 Company Overview Product Overview ⁻ SunControl Films (SCF) 03 ⁻ ⁻ Paint Protection Film (PPF) Consumer Driven Industrial Products (IPD) Paint Protection Lidding Film Industrial 04 Marketing & Branding Initiatives 33
Slide 5: Q4 & FY25 Highlights
1 Q4 & FY25 Highlights 4
Slide 6: Message from the CMD
Message from the CMD Dr. S B Garware Chairman and Managing Director "As we continue to drive growth and innovation, your Company remains focused on strengthening technical capabilities, broadening our product portfolio, and exploring new markets. This strategic approach has consistently delivered st
Slide 7: Remarkable FY25 Performance
Remarkable FY25 Performance Annual Revenue Crosses Landmark ₹2,000 Crores with Record PAT of ₹331 Crores FY25 Consolidated Performance (YoY) Revenue from Operations (₹ cr) EBITDA (₹ cr) & EBITDA Margin PBT(₹ cr) & PBT Margin PAT(₹ cr) & PAT Margin 25.8% YoY 54.3% YoY 64.8% YoY 62.9% YoY 23.5% 21.1%
Slide 8: Q4 FY25 Performance
Q4 FY25 Performance Strong Quarterly Growth Across All Metrics Q4 FY25 Consolidated Performance (YoY) Revenue from Operations (₹ cr) EBITDA (₹ cr) & EBITDA Margin PBT(₹ cr) & PBT Margin PAT(₹ cr) & PAT Margin 22.7% YoY 35.3% YoY 39.4% YoY 34.6% YoY 547.9 22.2% 19.9% 14.2% 20.1% 17.5% 12.9% 121.4 446
Slide 9: Quarterly Consolidated Performance Trend – Q4 FY25
Quarterly Consolidated Performance Trend – Q4 FY25 Revenue from Operations (₹ Cr) EBITDA Bridge (₹ Cr) – Q4 FY25 Increase Decrease Total 44.7 121.4 324.0 349.0 379.7 397.1 453.6 446.6 474.5 620.6 466.4 547.9 -12.0 -3.4 -3.0 89.7 5.4 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 FY23 FY23 FY24 FY24 FY24 FY24 FY25 FY
Slide 10: Consolidated Annual Performance
Consolidated Annual Performance Revenue from Operations (₹ Cr) EBITDA (₹ Cr) EBITDA Margin PAT (₹ Cr) Net Working Capital Turnover Ratio (x) Export Domestic PAT Margin 23.6% 23.5% 989 1,303 1,438 1,677 2,109 21.3% 15.7% 400 18.7% 19.1% 350 220 16. 0% 4.7 4.4 4.3 3.8 20.0% 23% 12.7% 12.8% 11.6% 12.1%
Slide 11: Diversified Portfolio driving GHFL's Success
Product Overview Diversified Portfolio driving GHFL's Success Consumer Product Division (CPD) Industrial Product Division (IPD) Value Added Products (VAP) Mix Q4 FY24 Value Added Products (VAP) Value Added Products Commodity 12.4% • Automotive SunControl Film • Shrink Film • Thermal Lamination • Arc
Slide 12: New Initiatives and Recent Developments
New Initiatives and Recent Developments GreenPro Certified 1. GreenPro Certified by CII & IGBC - Garware Hi-Tech Films is now GreenPro Certified becoming the 1st Indian company in architectural films segment to earn this recognition by Confederation of Indian Industry (CII) and Indian Green Building
Slide 13: Driving Growth Through Strategic CAPEX Investments
Driving Growth Through Strategic CAPEX Investments 12 Continuous CAPEX investments driving revenue growth TPU Extrusion Line Expansion GHFL has consistently pursued innovation and made ongoing investments in CAPEX. New CAPEX - Waluj facility Large CAPEX tends to take 1-2 years to achieve full utiliz
Slide 14: Company Overview
2 Company Overview 13
Slide 15: Product Strategy | Premium Market Positioning
Product Strategy | Premium Market Positioning Our 'Global' and 'Garware' brands target the high-end market, setting them Tier 1 Brand Technology Edge apart from international competitors in the premium and economy categories A premium global brand, Winner of Prestigious award ranking top 3 in USA &
Slide 16: Business Strategy | Four Pillars
Business Strategy | Four Pillars Customer-Centric Growth Value-Added Manufacturing Strengthening Domestic Fostering Sustainable Annual Specialty films Excellence Market Share Financial Performance ➢ Manufacturers & suppliers of ➢ Fully vertically integrated chips-to- ➢ Solid sales & marketing strate
Slide 17: Transitioned into a Value-Added Product Business
Transitioned into a Value-Added Product Business GHFL has ventured into value-added products like SunControl, Paint Protection and Shrink Film, resulting in better recovery of revenue, and improved margins. FY17 & Prior 13% FY18 & Beyond 20% 52% ➢ GHFL was one of largest exporter of polyester ➢ Unde
Slide 18: Geographical Strategy | Mature Market with High-end Customer Base
Geographical Strategy | Mature Market with High-end Customer Base Global Presence India, USA, UK India Tinters across 5,000+ the globe 90+ Countries 3 Sales Offices 2 Manufacturing locations Export Revenue Europe 76.8% Share in FY25 FY25 Revenue Share 10.4% ➢ Strong global distribution network North
Slide 19: GHFL Manufacturing footprints
GHFL Manufacturing footprints 18 Pioneering the Future of Specialty Polyester Films Fungible Capacity 2 Fully Vertically integrated Manufacturing Locations ➢ Crucial for improving sales mix & responding to stable demand ➢ Enables shift between value-added and commodity products Waluj Chikalthana Ins
Slide 20: R&D | Innovation at our core
R&D | Innovation at our core 2023 – Top 50 innovative company award • Recognition by Indian Dep. of Scientific & Industrial Research (DSIR) • TPM Excellence Award by JIPM VAP for stable revenue and high margin growth • BRCGS Certified (Food & Packaging Grade) 50+ dedicated R&D Team members (Technica
Slide 21: Environmental Stewardship: Customer Centric ESG Commitment
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 Zero Waste Achievement Advanced Waste Management Circular Economy Integration ❑ Tra
Slide 22: Empowering Communities, Building Sustainable Future
Empowering Communities, Building Sustainable Future Community Engagement Cultural Showcase Education Health & Safety ❑ A program called “Making of ❑ Conducted a Surya-namaskar ❑ Held a “Science Exhibition”, ❑ A Health Awareness and Blood Test Natural Colour” was held in Competition for students, wit
Slide 23: Product Overview
| G canware ean. 2: 3 Product Overview
Slide 24: SunControl Films (SCF) Architectural & Automobile Film
SunControl Films (SCF) Architectural & Automobile Film 23
Slide 25: Key Growth Drivers - SCF
SunControl Film Key Growth Drivers - SCF Untapped domestic market Product extension in SCF business ❑ Reintroduction of GHFL ‘safety glazing’ window film in India ❑ Expected robust growth in complementary architectural film ❑ Fully compliant with 50/70 VLT government regulations segments – launched
Slide 26: Architectural Film | Next Engine of Growth for SCF
SunControl Film Architectural Film | Next Engine of Growth for SCF Unique range Privacy Films SunControl Films Safety & Security Films 1• Applied to the inside surface of Glass 1• Holds broken glass shards intact & Windows minimizes chances of injuries 2• Reduces solar heat, UV light & glare, 2• Mai
Slide 27: Architectural Film | Products Designed to Meet Various Customer Requirement
SunControl Film Architectural Film | Products Designed to Meet Various Customer Requirement TSER (Heat Rejection) TSER: Higher the better Few illustrative SKUs from all series VLT: Depends on usage 100% 80% 60% 40% 20% 0% 20% 40% 60% 80% Visible Light Transmission (VLT) Spectrally Selective Films Ni
Slide 28: Architectural Films | Gaining Traction with successful launches & marketing campaigns
SunControl Film Architectural Films | Gaining Traction with successful launches & marketing campaigns Recent Launches Architectural Marketing Campaigns Spectra Pro Architectural Films GHFL featured in the prestigious Architectural & Builders Magazine Designed for high heat rejection & high VLT A pro
Slide 29: Safety Glazing Film for Domestic Market
SunControl Film Safety Glazing Film for Domestic Market Ensures better visibility and enhanced safety aligned with Central Motor Vehicle Rule Indian domestic market is highly High Under-penetration Product Launch under penetrated Domestic market has shown higher Increasing Demand than expected uptak
Slide 30: Our Global Marquee Clients in Architectural Films
Our Global Marquee Clients in Architectural Films Bank of Brazil Imperial College, London Taj Amer, Jaipur New Project @ A large mall in Mohali Punjab New project at one of the largest malls in Mohali, Luton Changi Airport, Bengaluru Airport, Punjab, supplying of architectural films. This property A
Slide 31: Paint Protection Films (PPF) Automobile
30 Paint Protection Films (PPF) Automobile 30
Slide 32: Key Growth Drivers - PPF
Paint Protection Film Key Growth Drivers - PPF Under penetrated and untapped PPF market in India New PPF Capacity ❑ Indian market is in the early stages of “building awareness” - scratch resistance, hydrophobicity, self-healing, and more benefits To cater growth demand for PPF, Board of Directors ap
Slide 33: PPF Titanium with lifetime warranty
Paint Protection Film PPF Titanium with lifetime warranty 32 Aim is to reinforce Garware's reputation for delivering high quality and best-in-class PPF 1 2 Exclusively available only at Lifetime warranty to be GAS studios provided to Garware GAS customers 3 4 Best-in-class PPF quality, Highest quali
Slide 34: Domestic PPF | Driven by 850+ OEM Dealerships and 200+ channel partners
Paint Protection Film Domestic PPF | Driven by 850+ OEM Dealerships and 200+ channel partners Garware Application Studios (GAS) : Detailing and Car care Studios for exclusive access to Garware's premium safety glazing films and PPF Introducing a D2C channel of certified and trained applicators Aim t
Slide 35: Industrial Product Division (IPD)
Industrial Product Division (IPD) Shrink, Low Oligomer, Release Liners, Packaging etc. 34
Slide 36: Industrial products Division | Integral to GHFL's leadership in Poly-films
Industrial products Division | Integral to GHFL’s leadership in Poly-films Thermal Lamination Shrink Film Provide heat insulation, energy efficiency, increased Wrapping & labelling plastic bottles, containers, cans, comfort & protection in various applications like Book cups, etc. of various sizes c
Slide 37: Shrink Films Key Growth Drivers
Shrink Films Key Growth Drivers India's Rising Role in Shrink Film Manufacturing Global shrink film is expected to grow at a CAGR of 5.4% from 2022 to 2031 India has a great scope to emerge as a sizable player in shrink film manufacturing as part of (in US$ billion) China-plus-one diversification st
Slide 38: Marketing, Branding & Network Expansion Initiatives
4 Marketing, Branding & Network Expansion Initiatives 37
Slide 39: Improve India Revenue Mix | PPF & SCF business
Improve India Revenue Mix | PPF & SCF business Marketing Strategy for Exponential Domestic Market Growth from SCF and PPF Reintroducing Safety Glazing Film with favorable shift in Indian Regulations, leveraging local manufacturing and strong brand recall Accelerated expansion of the Garware Applicat
Slide 40: Expansion | Targeting Tier-2 & Tier-3 Cities in India
Expansion | Targeting Tier-2 & Tier-3 Cities in India Expanding GAS Studio network excellence with recent GAS launches across India ❑ Ghaziabad ❑ Lucknow ❑ Whitefield, Bengaluru ❑ Noida ❑ Kolkata ❑ Jwalapur, Haridwar ❑ Delhi ❑ Hisar ❑ Naharlagun ❑ Hennur ❑ Kerela ❑ Hasan, Karnataka ❑ Tumkur ❑ Guwaha
Slide 41: Events, Exhibitions, & Other marketing initiatives
Events, Exhibitions, & Other marketing initiatives Packaging Innovations 2025 Technology Day 2025 with a PSU Regular participation across various events, seminars and exhibitions ❑ HI-AiM Conference + Exposition 2025, Nepal ❑ Packaging Innovations 2025 , Birmingham (UK) ❑ D-arc 2025, Mumbai ❑ Expo G
Slide 42: Building Robust Sales Network | Installation Training for Applicators
Paint Protection Film Building Robust Sales Network | Installation Training for Applicators Ensure a High-Quality Finish Cutting-Edge Training Center Deeper Penetration Applicator Network expansion Established the Garware training Starting with region wise (Tier 2 deliberate endeavor, recognizing ce
Slide 43: Certifications & Awards
Certifications & Awards Certifications 1990 2019 2019 2020 2023 2024 DSIR ISO 9001:2015 APR PCR EU Regulation BRC Global Skin Cancer Accreditation Certification for Migration Standard Foundation R&D Centre is Globally recognized Sustainability & Comply with migration For packaging Seal of accredited
Slide 44: Thank You
Thank You Garware Hi-Tech Films Limited Ernst & Young LLP CIN: L10889MH1957PLC010889 Investor Relation Advisory Amar Yardi Vikash Verma Sumedh Desai amar.yardi@garwarehitech.com Vikash.Verma1@in.ey.com Sumedh.desai@in.ey.com ir@garwarehitech.com
Garware Hi-Tech Films — Q4 FY25 Earnings Presentation on 6ix