Ashish Kacholia portfolio stock recommends 100% dividend, Q4 PAT zooms 41% sequentially: Do you own?

The Board of Directors have “Recommended the dividend of Rs. 10/- (Rupees ten only) (100%) per equity share of the face value of Rs. 10 / – (Rupees ten only) for the financial year 2022-23, subject to approval of the members at the ensuing Annual General Meeting (AGM). The date of AGM and book closure for the purpose of payment of dividend will be announced in due course,” said Garware Hi-Tech Films in a stock exchange filing.

During Q4FY23, the company recorded revenue from operations of ₹349 Cr as against ₹324 Cr in Q3FY23 and ₹324 Cr in Q4FY22, representing a YoY growth of 7.9% and 7.6% sequentially. 

Its EBITDA stood at ₹70 Cr during Q4FY23 compared to ₹52 Cr in Q3FY23 and ₹71 Cr in Q4FY22, representing a growth of 34.1% QoQ but a fall of 0.3% YoY. 

Garware Hi-Tech Films said its net profit stood at ₹43 Cr during the quarter ended March 2023 as against ₹30 Cr in December 2022 quarter and ₹45 Cr in March 2022 quarter, representing a growth of 41.7% sequentially (QoQ) but a decline of 4.5% YoY.

Commenting on the results, Dr S B Garware, Chairman and Managing Director, said, “We have increased our focus and efforts on distribution network expansion and marketing activities to build brand awareness and demand for our world-class PPF and SCF products. We have also engaged Boston Consulting Group (BCG) to accelerate B2C growth in the domestic market.”

“For the PPF business, we are setting up B2C application studios, already associated with 65+ GAS partners and 100+ dealership networks to provide seamless service to our customers. We are running pilots with two major OEMs for the PPF pre-installation and are also in advanced talks with many other brands. We are leveraging SCF’s existing established dealer and tinter network to accelerate growth in the architectural film business. A team of trained applicators from Garware Training Centre creating a market for our products. Lastly, our digitally driven awareness initiatives and influencer campaign with customers and applicators are driving greater adoption of automotive and architectural films in the domestic market,” S B Garware further added.

GHFL is a global manufacturer of Sun Control Films, Paint Protection Films, and other speciality polyester films. As per the shareholding pattern of Garware Hi-Tech Films for January to March 2023 quarter, ace investor Ashish Kacholia held 9,68,322 fully paid up equity shares or 4.17% stake in the company.

Updated: 26 May 2023, 03:29 PM IST