Garware Hi Tech Films Ltd
NSE: GRWRHITECH BSE: 500655
₹7094.50
-109 (1.51%)
Sat, 24 Oct 2026, 05:50 am
Market Cap (in Cr)16742.54
PE Ratio42.50
Dividend0.17
Process Industries
Chemicals: Specialty
24.5KGarware Hi Tech Films Ltd Company History
1957
- The company was incorporated on 6th June under the name Garware Motors & Engineers Pvt. Ltd.
1966
- A new factory and office was constructed at Vile Parle.
- The unit at Byculla was shifted to Nagpur.
- A part of the capacity for rigid PVC pipes was installed at Nasik.
1975
- 9,000 Bonus equity shares were issued in prop. 3:5 on 24th December.
1976
- A new project was set up at Aurangabad to manufacture biaxially oriented polyester film.
- Garware Plastics Pvt. Ltd. was merged with the company with effect from 1st January.
- 6,60,000 No. of equity shares were issued without payment in cash to members of Garware Plastics Pvt. Ltd. on 6th December.
1977
- The name of the company was changed to Garware Plastics & Polyster Pvt. Ltd. with effect from 14th April.
1978
- Another factory was started at Nasik for metallising and coating of polyester film.
- A coating plant to metallise polyester and PVC film was installed at Nasik.
- 6,84,000 Bonus equity shares were issued in prop. 1:1 on 6th February.
1979
- The company obtained an industrial licence to expand the capacity of polyester film from 600 tonnes to 1,500 tonnes per annum.
- Plant and equipment for the second film line were imported from reputed suppliers from U.S.A., France, West Germany, U.K. and Japan.
1981
- Coloured polyester film for cable application was developed.
- The object of the issue of capital to the public was to raise funds to meet a part of the cost of the expansion of polyester film capacity and polyester chips project.
- 9,57,600 Bonus Equity shares were issued in prop. 7:10 on 25th May.
- 34,88,400 No. of equity shares were issued at a premium of Rs.3 per share.
- The company was converted into a public limited company on 26th May.
1982
- The working was affected due to increase in the customs duty on polyester chips without a corresponding increase in the customs duty on polyester film.
1983
- Garware polyester film for sun control was introduced on a commercial scale.
- A patent in the U.S.A. for this film was obtained.
- New products such as polyester based adhesive tapes, heat sealable film and super copy static film were ready for commercial production.
- The company raised Rs.400 lakhs by issue of privately placed 15% non-convertible secured debentures to ICICI, UTI and Army Group Insurance Fund.
1984
- One generating set of 1,450 KVA for polyester film plant at Chikalthana and two diesel generating sets of 1,000 KVA each were installed for polyester chips project at Waluj.
- The glycol recovery plant at Waluj was commissioned on schedule.
- A letter of intent was received for the manufacture of audio, video and computer tapes.
1985
- The process and technology for the manufacture of X-ray film and graphic art film were completely developed.
- The company raised Rs.185 lakhs by issue of privately placed 15% secured non-convertible redeemable debentures to UTI.
- The company's land at Vile Parle, Nasik, Aurangabad and Waluj and building at Vile Parle were revalued.
1986
- The company set up a modern facility for recorded cassettes.
1987
- The first phase of modernisation in the polyester film plant was completed.
- The company developed new grades of sun control film.
- A pilot coating plant was installed for medical and industrial X-ray films.
- Debentures were allotted to the equity shareholders and employees/workers/Indian working directors.
- 24,98,300 No. of equity shares were allotted on 1st July on conversion of debentures.
1988
- The company received a letter of intent for manufacture of 6 million sq. mtrs. of X-ray film and graphic art films.
- The X-ray pilot plant was set up with the assistance of IDBI and the Venture Capital Fund Scheme.
- The company offered 24,93,800 No. of equity shares on rights basis in prop. 3:10.
1990
- The company optimized its product mix, concentrated on high value products and introduced new products such as sun-control film and audio/video grade film.
1991
- The company developed fluorescent yarn as a new product.
1992
- The company undertook substantial expansion of its capacity from 10,000 TPA to 25,000 TPA together with modernisation and upgradation of existing production facilities.
- Garware Video Cassettes Ltd. and Garware Photo Films Ltd. ceased to be subsidiaries of the company.
1994
- The company set up the third film line with a capacity of 9,000 TPA.
- The company proposed to implement DMT project in Garware Chemicals Pvt. Ltd. (GCP) and invest Rs.45 crores in the equity of GCPL.
- Garware Photo and Polyester Films became a subsidiary of the company.
- The company entered into a collaboration with M/s. Grace Enterprise of Singapore for setting up a joint venture for trading and marketing.
- A new company under the name and style of Garware Grace Singapore Pvt. Ltd. was incorporated in Singapore.
- The company invested $5,000 in the joint venture which forms 50% of its equity capital.
- Consent from the Controller of Capital Issues was obtained for issue of 4,99,660 - 13.5% convertible debentures of Rs.150 each.
- The company issued 24,89,622 - 16% NCDs along with 24,89,622 Detachable Warrants to financial institutions.
- 64,860 No. of equity shares of Rs.10 each were issued at a premium of Rs.40 per share to IDBI on conversion of part of loan amount of Rs.32.43 lakhs.
1995
- The DMT project undertaken by Garware Chemicals Ltd. progressed satisfactorily.
- A MoU was signed with Sumitomo Corporations of Japan to arrange for US $ 10.4 million to part finance the DMT project.
- The company issued 56,87,923 No. of equity shares at a premium of Rs.175 per share on Right basis in prop. 1:2.
- 56,84,718 No. of equity shares of Rs.10 each were allotted on rights basis in prop. 1:2.
1997
- The company achieved Rs.100 crore in export during 1995-96 and was awarded meritorious export performance.
- CARE assigned a CARE A +' rating to the Rs 50 crore non-convertible debenture (NCD) issue of Garware Polyester Ltd (GPL).
1999
- Credit Rating Information Services of India Ltd (CRISIL) downgraded fund raising programmes of Garware Polyester Ltd (GPL).
2003
- The company received the award for the `Top Exporter of The Year 2002-03'.
2009
- M C Agarwal was appointed as an additional director on the Board of the Company w.e.f. April 29, 2009.
2010
- Ramesh P. Makhija was appointed as an additional director on the Board of the Company w.e.f. November 12, 2009.
2011
- Anil B. Bhalerao was appointed as an additional director on the Board of the Company.
- Garware Polyester recommended a final dividend at Rs. 1.50 per equity share of Rs. 10/- each (15%) and a special dividend at Rs. 7.00 per equity share of Rs. 10/- each (70%).
2012
- Garware Polyester recommended a dividend at Rs. 1.50 per equity share of Rs. 10/- each (15%).
2014
- Garware Polyester commenced the commercial operation of the Bio-Auxiliary Poly Propylene Film (BOPP Film).
- Nilesh P Doshi was appointed as an Independent Non Executive director of the company.
2020
- Garware Polyester commenced production of Paint Protection Films.
2021
- The company name was changed to Garware Hi-Tech Films Ltd. from Garware Polyester Ltd.
