Garware Hi-Tech Films Limited announced its Q3FY26 quarterly results for the quarter and nine months ended December 31, 2025, following a Board of Directors meeting held on January 31, 2026. The company reported mixed performance with revenue decline and margin pressures across key financial metrics, while maintaining resilient fundamentals amid global trade volatility.

Q3FY26 Financial Performance

The company's consolidated financial results for Q3FY26 show revenue from operations at ₹458.7 crores compared to ₹466.4 crores in Q3FY25, representing a decline of 1.6%. EBITDA for the quarter stood at ₹86.7 crores versus ₹93.7 crores in the corresponding quarter of the previous year, marking a 7.4% decrease. The company also reported a quarter-on-quarter decline of 19.5% from Q2FY26's ₹569.7 crores, reflecting seasonal impact from the historically strong Q2 base.

Nine Months Performance

For the nine months ended December 31, 2025, consolidated revenue from operations reached ₹1,523.4 crores compared to ₹1,561.4 crores in the corresponding period of FY25, showing a decline of 2.4%. EBITDA for 9MFY26 was ₹343.0 crores against ₹374.1 crores in 9MFY25, down by 8.3%, with EBITDA margin at 22.5% versus 24.0% in the previous year.

Management Commentary

Dr. S.B. Garware, Chairman and Managing Director, commented on the results stating that global trade conditions continue to evolve amid tariff recalibrations and geopolitical realignments. He emphasized the company's focus on long-term value creation through disciplined execution and strategic clarity, building a resilient, innovation-led organization capable of adapting to global transitions.

Ms. Monika Garware, Vice Chairperson and Joint Managing Director, noted that despite tariff-related impacts, revenues remained largely stable. She highlighted the company's continued progress in strategic initiatives and focus on disciplined execution and prudent risk management for sustainable, long-term growth.

Strategic Growth Initiatives

Despite margin pressures, Garware Hi-Tech Films continues to advance several key strategic developments. The company announced plans to establish a wholly owned subsidiary in UAE to strengthen export footprint across the MENA region and other international markets. Additionally, the company launched Garware Home Solutions, a high-margin D2C business to strengthen domestic presence in architectural films, with the first studio opened in Mumbai.

The company filed the results under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, with both BSE (Scrip Code: 500655) and NSE (Trading Symbol: GRWRHITECH).

Garware Hi-Tech Films has announced key leadership changes and expansion plans that will take effect in early 2026. The company has made strategic decisions regarding its board composition and international presence.

Leadership Transition

The company has appointed Mr. Uday V. Joshi as Whole-Time Director, with his tenure beginning February 1, 2026. This appointment comes with a three-year term, providing stability to the company's leadership structure.

Board Changes

As part of the leadership transition, Mr. Mohan S. Adsul will step down from his role as Whole-Time Director on January 31, 2026. This timing ensures a seamless transition with Mr. Joshi's appointment taking effect the following day.

International Expansion

Garware Hi-Tech Films has revealed plans to establish a wholly-owned subsidiary in Dubai. This strategic move represents the company's expansion into the Middle East market, potentially opening new business opportunities in the region.

Strategic Implications

These developments reflect the company's focus on both organizational restructuring and geographical expansion. The appointment of new leadership alongside international expansion plans suggests a strategic approach to future growth and market presence.