India-based specialty-films maker Garware Hi-Tech Films posted a 22% increase in September-quarter revenue, while its shares ended Oct. 30 almost twice their level a year earlier.
The shares closed at ₹6,983.30 on Oct. 30, 2026, compared with ₹3,516.20 on Oct. 30, 2025, according to BSE data shown by IDBI Direct. That amounts to a 98.6% rise. On a price-only basis, ₹100,000 invested at the earlier close would have been worth about ₹198,604 at the later close, excluding dividends, taxes and transaction costs.
In its unaudited results for the quarter ended Sept. 30, 2026, Garware reported consolidated revenue of ₹696 crore, up from ₹570 crore in the same period a year earlier. EBITDA reached ₹189 crore, compared with ₹133 crore, while profit after tax rose to ₹129 crore from ₹91 crore. The company reported an EBITDA margin of 27.2%, versus 23.4% a year earlier.
Management pointed to stronger demand and improved pricing across its product range. The company said operating leverage and a favorable product mix helped offset higher raw-material and logistics costs, while a slowdown in the Middle East amid ongoing conflict weighed on performance. Garware increased its FY27 EBITDA margin target by two percentage points to 27%, with a plus-or-minus 2-percentage-point range, and kept its revenue target above ₹2,500 crore.
InCred Equities' Sept. 25 report gave the shares a Buy rating and set a ₹7,880 target, then 19% above the report's ₹6,640 share-price reference. At the Oct. 30 close, that target was 12.8% higher by calculation. The report came before Garware released its quarterly results on Oct. 22.
The company said its TPU line remained on schedule for commissioning in Q3 FY27. It expects a ₹191 crore solar-control-film line to begin commercial production in H1 FY28, adding about 1,200 LSF of capacity.
