Investor Presentation

Here's a summary of the attached investor presentation: **1. Financial Highlights:** Revenue for Q1 FY26 reached ₹495 Cr (up from ₹475 Cr YoY), though EBITDA slightly dipped to ₹123 Cr (24.8% margin) and PAT to ₹83 Cr (16.8% margin). For FY25, revenue was strong at ₹2,109 Cr with a 23.5% EBITDA margin.

The company maintains zero gross debt and a robust cash surplus of ₹704 Cr. **2. Strategic Initiatives & Growth Drivers:** The company is investing approximately ₹118 Cr in a new TPU Extrusion Line (360 LSF p.a.) at its Waluj facility, with commercial production anticipated by October 2026, enhancing backward integration.

R&D efforts focus on patented solutions, including proprietary software GARNEST for pre-cut PPF patterns.

Expansion of product offerings includes new ceramic/graphene coatings and DIY detailing kits. **3. Business Developments:** GHFL is expanding its Garware Application Studios (GAS) network, targeting 300 locations, and launching "End-to-End Garware Home solutions" for its architectural business.

Partnerships with Bajaj Finance and Insurance Dekho are enhancing PPF solutions.

The company has significantly transitioned from commodity polyester films to value-added specialty films, which accounted for 87% of FY25 revenue. **4. Market Position & Competitive Advantage:** A leading manufacturer of hi-tech value-added specialty films, GHFL holds the world’s largest single-location SCF capacity and is India's sole professional-grade PPF manufacturer.

Its fully vertically integrated operations, robust R&D, and patented innovations support a diversified portfolio of 3,000+ SKUs.

The company is also GreenPro certified, highlighting its commitment to sustainability. **5. Investor Implications:** Despite current geopolitical and tariff uncertainties, strategic investments in high-growth segments like PPF and TPU, coupled with a debt-free balance sheet and strong cash flow, indicate positive long-term growth potential.

Investors should monitor the company's execution strategy as it navigates external challenges.