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Garware Hi Tech

Q2 FY26

Garware Hi Tech Q2 FY26 earnings call: Revenue & Margins

Q2 FY26 earnings call: what management said on revenue, margins and capex.

Price₹6,970
Market cap₹16.2K Cr
P/E41.7
Updated16 Oct 2026
Read4 min read

The short version

The company targets a revenue CAGR of 15%-20% for FY '26 and beyond. - Architectural films are a key growth driver, with India market growing 30%-40%, U.S. The company targets an EBITDA margin of 22% to 25% for FY '26 and beyond, with margin improvement expected by 1.5% to 2% on average (Page 10-11).

From Garware Hi Tech's Q2 FY26 earnings-call transcript · updated 16 Oct 2026.

Revenue & Sales Performance

  • The company targets a revenue CAGR of 15%-20% for FY '26 and beyond.
  • Architectural films are a key growth driver, with India market growing 30%-40%, U.S. and Europe growing 20%-25%.
  • Growth in automotive window films expected around 15%-20%.
  • Garware Home Solutions is a new vertical targeting residential consumers through e-commerce, expected to be a fast-growing segment.
  • TPU (Thermoplastic Polyurethane) product line to start next year, expected to further expand product portfolio and margins.
  • The company focuses on diversified verticals: PPF, Window Films (automotive and architectural), Garware Home Solutions, and TPU.
  • Export markets (especially non-U.S.) showing about 20% growth.

2 more points from Garware Hi Tech's call on revenue

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Profitability & Margins

See what Garware Hi Tech said on profitability & margins — free account, 30 seconds.

Capital Expenditure Plans

  • The company is investing in TPU (Thermoplastic Polyurethane) capacity, with 25% of the TPU capacity earmarked for new product solutions to enable market expansion and competitive advantage.
  • The remaining 75% of TPU capacity will be utilized for PPF (Paint Protection Film) production.
  • Deepak Joshi mentioned new products being developed by R&D, with plans to be ready before the plant starts to minimize market penetration time.
  • There is a focus on expanding the architectural window films segment, expected to grow 25-30% annually over the next 2-3 years, indicating strategic investment in this vertical.

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Order Book & Pipeline

See what Garware Hi Tech said on order book & pipeline — free account, 30 seconds.

Garware Hi Tech — Quarterly revenue & net profit

Revenue Net profit
Dec 2024Q3 FY25
Mar 2025Q4 FY25
Jun 2025Q1 FY26
Sep 2025Q2 FY26
Dec 2025Q3 FY26
Mar 2026Q4 FY26

Reported quarterly figures (₹ Cr). Latest (Q4 FY26): revenue ₹597 Cr, net profit ₹108 Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.

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What Garware Hi Tech Films Ltd's management said in earlier quarters

Others in Industrial Products this season

  • Lead Reclaim and Rubber Products Ltd (Q2 FY26)

    Revenue from Operations for H1 FY26: ₹2,190 lakhs, up 138.04% YoY (from ₹920 lakhs in H1 FY25) (Page 19) . Key investor presentation takeaways from Lead Reclaim

  • Shubhshree Biofuels Energy Ltd (Q2 FY26)

    Revenue from operations for H1 FY26: ₹9,604.6 Lakhs . Key investor presentation takeaways from Shubhshree Biofuels Energy Ltd's Q2 FY26 investor presentation —

  • De Neers Tools (Q2 FY26)

    H1FY26 Net Sales:** ₹670.4 Mn . Key investor presentation takeaways from De Neers Tools's Q2 FY26 investor presentation — and how it ranks against sector peers.

  • WOL 3D India Ltd (Q2 FY26)

    Revenue from Operations for H1FY26 is Rs 415 Mn, up 82% YoY from Rs 227 Mn in H1FY25 (Page 9, Page 5). Key investor presentation takeaways from WOL 3D India Ltd

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Frequently Asked Questions

What were Garware Hi Tech Q2 FY26 results?

The company targets a revenue CAGR of 15%-20% for FY '26 and beyond. - Architectural films are a key growth driver, with India market growing 30%-40%, U.S. The company targets an EBITDA margin of 22% to 25% for FY '26 and beyond, with margin improvement expected by 1.5% to 2% on average (Page 10-11).

What is Garware Hi Tech share price analysis?

Garware Hi Tech currently shows a neutral. The stock trades at a P/E of 41.7 with a market cap of ₹16,193 Cr. Investors should review the full earnings analysis for detailed insights.

Is Garware Hi Tech planning capital expenditure?

The company is investing in TPU (Thermoplastic Polyurethane) capacity, with 25% of the TPU capacity earmarked for new product solutions to enable market expansion and competitive advantage.

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This analysis is AI-generated based on publicly available earnings data and the company's earnings call transcript. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.