Garware Hi-Tech Films Limited (GHFL), a global manufacturer of solar control films, paint protection films and other specialty polyester films, Q1 FY25 revenues at Rs. 474.5 crores, up by 25.0% Y-o-Y whereas profit at Rs. 88.4 crores, up by 102.2% Y-o-Y.

Gross Revenue increased sharply by 25.0% Y-o-Y, supported by continued growth momentum in Sun Control Films (SCF) and Paint Protection Films (PPF) businesses. Strong efforts in sales and marketing led to a substantial increase in high end SCF and PPF business. The architectural segment of SCF witnessed high growth with the introduction of new products. EBITDA witnessed a commendable growth of 78.7% Y-o-Y and 44.9% Q-o-Q owing to better performance from the Specialty segments. Overall, PAT improved by 102.2% Y- o-Y and 52.8% Q-o-Q on account of a better product mix and better realisation of the specialty products.

Commenting on the results, Dr S. B. Garware, Chairman and Managing Director, Garware Hi-Tech Films Limited said, "We have entered FY25 with an exceptional Q1 performance, propelled by the continued momentum in Solar Control Films and Paint Protection Films. Our strategic focus on innovation and market expansion, along with our commitment to superior-quality, value-added products and effective marketing positioned us well to maintain our growth trajectory."

Monika Garware, Vice Chairperson and Joint Managing Director, Garware Hi-Tech Films Limited said, “Our robust quarterly performance of highest ever sales and profitability achieved through increased contribution of high-end value-added products across all segments despite the continuing global uncertainty. We foresee this momentum to continue way forward with our state-of-the-art manufacturing facilities, excellence in R&D, and strong global distribution network.”

Solar Control Film (SCF): SCF protection has properties like heat and UV Ray rejection, safety, privacy and aesthetic look. SCF is used largely on the glass surface of the vehicle. It is also widely used in architectural office/residential windows. SCF business achieved record revenue growth in Q1 FY25 compared to Q1 FY24. This performance is attributed to an increased sales of high-end value-added products and penetration to new geographies. The introduction of new products like Spectra Pro and Decovista have started getting good response from the market.

Paint Protection Film (PPF): PPF protects your vehicle's paint from unsightly damage and maximizes resale value. Some of its features include Self-healing, Higher Shine, Stain Resistance and Superior Optical Clarity. With the introduction of a full range of products including top notch Titanium series, Matte, White and Black series, PPF is witnessing strong momentum.

IPD Business: IPD business witnessed recovery in both specialty and commodity segments with marginal growth in Q1 FY25. Focused approach towards high end products like lidding films, PCR/floatable shrink films is leading to margin improvement in the segment.