Garware Hi-Tech Films Ltd

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BSE Code: 500655       NSE Code: GRWRHITECH

Business Profile
Business Profile
Garware Polyester (GARPOLYE), founded by B. D. Garware, is a producer of polyester film in India. The company caters to the solar control industry, packaging industry, reprographic industry, ..etc in Indian as well as overseas markets.

GARPOLYE makes a variety of polyester films like plain films, solar films, OHP films, metalized films and TRDR films, and it also makes polyester chips. Its product range includes opaque white film, translucent film with medium gloss, hazy film, non reflective, reflective, packaging grade metalized film, ..etc. These products have various applications like packaging, printing and lamination, food packing, audio tape base film, marker pen writing, photocopying, book/report binding, screen/offset printing, ..etc.

The company`s factories are located at Chikalthana and Valuz in Aurangabad, and Nashik. The company has an installed capacity of 41,000 TPA of polyester films, 2,210 TPA of metalized films and 50,400 TPA of polyester chips. It also does R&D activities which are primarily carried out in Mumbai, Nashik, Aurangabad and Waluj. Its major achievements in polyester film include sun control application; x-ray film with polyester base; matt, opaque, and super clear polyester films with pretreatment, both online and off-line.

Garware sun control film is patented in 16 countries and exported to more than 40 destinations across the globe. The company has patented the process of dyed film used in solar control applications internationally. The company`s two wholly-owned subsidiaries Garware Polyester International (UK) and Global Pet Films Inc. handle the European and American markets respectively.

Financials
The company reported a sharp drop in standalone net profit for the quarter ended March 2009. During the quarter, the profit of the company declined 17.32% to Rs 10.50 million from Rs 12.70 million in the same quarter last year. Net sales declined 10.43% to Rs 1,285 million, while total income for the quarter fell 10.43% to Rs 1,285.40 million, when compared with the prior year period. It reported earnings of Rs 0.46 a share during the quarter, registering 19.30% decline over previous year period.

Other Information
Annual Reports for Garware Hi-Tech Films Ltd
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