Garware Hi Tech Films Ltd Share Price

History of Garware Hi Tech Films Ltd

Garware Hi Tech Films Limited, formerly known Garware Polyester Limited was incorporated in June, 1957. The name of the Company was changed from Garware Polyester Limited to Garware Hi Tech Films Limited in 2021. The Company is a leading manufacturer of polyester film in the country. Presently, it is engaged in manufacturing of specialty performance polyester Films like Sun Control window films used in Automobiles, Buildings, etc, Paint Protection Films used in Automobiles and a variety of other specialty polyester films such as PET Shrink films used for Label applications, Low Oligomer PET films used for insulation of hermetically sealed compressors motors, Electric motor insulation and cable insulation, sequin application films, TV and LCD screen application, Packaging applications etc. ... Prior to these, the Company was primarily manufacturing moulds and dyes for the plastic manufacturers. In 1976, another group company Garware Plastics was merged with it. Later on, the company acquired its present name and became a part of the Garware Group. Apart from polyester films, the company has diversified into video magnetic tapes, computer tapes, audio magnetic tapes, U-matic video cassettes, and value-added products like sun-control films. GPL's exports comprised mainly of polyester film and film-based products, to Western Europe, the US, South Korea, Australia and New Zealand. In 1994-95, Garware Photo and Polyester Films, which manufactures plastic products, ceased to be a subsidiary of the company. The company has formed Garware Chemicals Pvt Ltd, a new company, to implement a project for the manufacture of di-methyl terephthalate (DMT), the main raw material for the manufacture of polyester films. Garware Polyester International and Global Pet Films Inc are the subsidiaries of the company. The company's subsidiary, Garware Chemicals Limited implemented DMT project with 60000 MT per annum capacity. The production was commenced in the early part of 1999-2000. The company opened warehousing and marketing outfit in Miami(USA) and UK. During 2007-08, the Company implemented ERP (Kamat Soft) project for better business integration, hosted own centralized e-mail server, launched informative web site, installed CCTV for better security control, installed high speed connectivity for all plant locations for voice and data. During 2011-12, Garware Chemicals Limited (GCL) was amalgamated with the Company and through the said Scheme, 2,54,764 equity shares of Rs. 10/- each as fully paid up were allotted to the members of GCL, resulting this, the paid-up equity share capital of the Company was increased. During 2018-19, the Company introduced many Coated Products, Co Extruded Products, PETG Shrink Films for label applications with Low, Medium, and High Shrink Force. High heat rejection films were also introduced in International Market. It introduced Paint Protection Film (PPF) for automobile application. During 2019-20, the Company upgraded and modified PET film manufacturing lines to provide versatility for manufacturing specialty PET films. It launched the Surface Protection Film. The Company was renamed from Garware Polyester Limited' to Garware Hi-Tech Films Limited' effective on April 20, 2021. During FY 2022-23, the Company commissioned production of Laminated Sun Control Film. In 2024, Company has streamlined the production of Paint Protection Film (PPF) at its facility in Waluj, Aurangabad. Batch Process Polyester Chips Plant has been established in FY 2024. The Company has streamlined its production of Paint Protection Film at its facility in Waluj Aurangabad in FY 2025.