Garware Hi-Tech Films gains on Lubrizol MoU for TPU film solutions

Garware Hi-Tech Films rose 2.46% to Rs 6,521.75 after the company announced a collaboration with Lubrizol for the development and manufacturing of thermoplastic polyurethane (TPU)-based film solutions in India.

The collaboration will combine Lubrizol's TPU technology and materials science expertise with Garware Hi-Tech Films' engineering, processing and manufacturing capabilities. The companies plan to develop and commercialise TPU-based products for automotive, architectural, industrial, electronics and other specialty applications.

Garware Hi-Tech Films said the initiative will also support backward integration for its premium paint protection film (PPF) business. The company plans to establish a dedicated TPU film extrusion platform, which is expected to be operational by December 2026.

The company plans to invest approximately Rs 118 crore in the TPU platform. Nearly 25% of the investment is expected to be allocated towards new product development and technology capabilities. The facility is expected to support the expansion of Garware Hi-Tech Films' PPF manufacturing capacity to more than 600 LSF.

The in-house TPU extrusion capability is expected to provide greater control over a key input for the PPF business, improve product consistency and manufacturing efficiency, strengthen supply-chain resilience and reduce dependence on imported TPU films. The company expects the initiative to improve consolidated EBITDA margins by 150-200 basis points.

Garware Hi-Tech Films manufactures sun control window films for architectural and automotive applications, paint protection films and high-end BOPET films for label and industrial applications. The company has a presence in more than 90 countries.

On a consolidated basis, Garware Hi Tech Films' net profit rose 59.78% to Rs 132.65 crore while net sales rose 27.90% to Rs 633.08 crore in Q1 June 2026 over Q1 June 2025.

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