Garware Hi-Tech Films Ltd posts surge in Q1FY22 consolidated PAT to Rs. 35.83 crores

Garware Hi-Tech Films Ltd has reported financial results for the period ended June 30, 2021.

Financial Results (Q1 FY 2021-22) - QoQ Comparison

The company has reported total income of Rs.312.41 crores during the period ended June 30, 2021 as compared to Rs.294.02 crores during the period ended March 31, 2021.

The company has posted net profit / (loss) of Rs.35.83 crores for the period ended June 30, 2021 as against net profit / (loss) of Rs.31.80 crores for the period ended March 31, 2021.

The company has reported EPS of Rs.15.42 for the period ended June 30, 2021 as compared to Rs.13.69 for the period ended March 31, 2021.

Financials	Q1 FY2021-22	Q4 FY20-21	% Change
Total Income	₹ 312.41 crs	₹ 294.02 crs	6.25%
Net Profit	₹ 35.83 crs	₹ 31.80 crs	12.67%
EPS	₹ 15.42	₹ 13.69	12.64%

Financial Results (Q1 FY 2021-22) - YoY Comparison

The company has reported total income of Rs.312.41 crores during the period ended June 30, 2021 as compared to Rs.171.27 crores during the period ended June 30, 2020.

The company has posted net profit / (loss) of Rs.35.83 crores for the period ended June 30, 2021 as against net profit / (loss) of Rs.13.61 crores for the period ended June 30, 2020.

The company has reported EPS of Rs.15.42 for the period ended June 30, 2021 as compared to Rs.5.86 for the period ended June 30, 2020.

Financials	Q1 FY2021-22	Q1 FY2020-21	% Change
Total Income	₹ 312.41 crs	₹ 171.27 crs	82.41%
Net Profit	₹ 35.83 crs	₹ 13.61 crs	163.26%
EPS	₹ 15.42	₹ 5.86	163.14%

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. GHFL announced a Capex of ₹135cr for the new lamination window film line to materialize the company's aim to expand window films category across safety, architectural and front window screen glasses.

Earnings Before Interest, Tax, Depreciation, & Amortization (EBITDA) for the Quarter stood at ₹ 65.86 Cr (vs ₹ 30.88 Cr in Q1 FY21) reflecting 21.56% EBITDA margin. EBITDA margin up by 334 Bps on YoY basis due to increase in revenue including specialty products.

"GHFL's performance in the first quarter was robust across all financial metrics," said Ms. Monika Garware, Vice-Chairperson and Jt. Managing Director, GHFL. "As the markets are opening up, we hope to maintain the growth momentum. We continue to put efforts into growing our revenue share through exports, which witnessed a growth of 76%% in Q1 on a YoY basis. Consistent improvement in our operating metrics reflects our relentless rigor of execution & our increased focus towards niche high margin specialty products, which has resulted in PBDT Margin reaching 20.1% in Q1FY22. The outlook for the rest of the year is promising with an anticipated incremental revenue contribution from our newly launched PPF line. Given the current visibility and a promising demand landscape, we foresee better times for us going ahead helping us realize our growth aspirations."

Shares of Garware Hi-Tech Films Ltd was last trading in BSE at Rs. 1020.7 as compared to the previous close of Rs. 972.1. The total number of shares traded during the day was 292505 in over 1668 trades.

The stock hit an intraday high of Rs. 1020.7 and intraday low of 927. The net turnover during the day was Rs. 293836583.

Source : Equity Bulls

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