Containers & Packaging firm Garware Hi-Tech Films declares Q3FY22 result: Q3 FY22 Revenue up by 18% at INR 334 crores vs. INR 283 crores in Q3 FY21 - Margins Improve Quarter-on-Quarter Commenting on GHFL’s journey, Shri S. B. Garware, Chairperson and Managing Director, GHFL said, “Garware Hi-Tech has worked hard over the years to create a unique position for itself in the marketplace with a variety of offerings catering to individuals and industry. Leveraging on our technology and expertise we are increasingly optimistic in transitioning towards a B2C company providing highly specialized and value-added products in marketplace. Our focus in the current year remains on growing the sales network of dealers, distributors, and applicators in key markets of USA and Europe with hi-tech products for consumers.” “GHFL has consolidated its position during the period under review. The third quarter’s performance is in line with our projections despite certain disruptions due to Omicron” said Ms. Monika Garware, Vice-Chairperson and Jt. Managing Director, GHFL. “GHFL continues to maintain its growth momentum. Exports continue to witness strong growth. The outlook for the rest of the year continues to remains promising. We are hopeful of surpassing our previous best performance in the remaining part of the financial year.” Result PDF
Conference Call with Garware Hi-Tech Films Management and Analysts on Q2FY22 Performance and Outlook. Listen to the full earnings transcript.
Highlights: Highest revenue ever in a half year period driven by strong revenue growth across segments Sustained margins and strong cash flow defined by disciplined value growth, increased B2C sales Strategic scalable initiatives, capacity enhancement, upgradation of existing capacities leading to company generating momentum in marketplace Aggressive investments in innovation, product pipeline, capability building and brand penetration yielding results. Supporting and growing end-user partnerships Technology capability developed for end-user integration of software for product application and innovative new-age technology solutions for specific needs. “GHFL’s strong performance in the first half is driven by all operational and financial metrics,” said Ms. Monika Garware, Vice-Chairperson and Jt. Managing Director, GHFL. “Our constant focus and efforts on high performance and value-added products in key global markets have yielded excellent results. Our revenue share from exports has witnessed a growth of 31% in Q2 on a YoY basis. Our increased focus towards niche high margin specialty products is reflected in our financial performance. The outlook for the rest of the year continues to remain promising. The global demand scenario in auto, construction, packaging and other sectors remains buoyant and we are hopeful of maintaining the momentum in the remaining half of the financial year.” Result PDF