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HITECHGEAR: NCLAT Extends Stay on Insolvency Process (CIRP) to April 20, 2026
The National Company Law Appellate Tribunal (NCLAT) has extended the interim stay on the Corporate Insolvency Resolution Process (CIRP) for The Hi-Tech Gears Limited. Due to a lack of time during the scheduled hearing on February 18, 2026, the court has adjourned the matter to April 20, 2026. This stay, which has been in place since September 03, 2024, temporarily prevents the company from entering active insolvency proceedings. The legal dispute involves an appeal against Happy Forgings Ltd.
Key Highlights
NCLAT extended the interim stay on the CIRP process originally granted on September 03, 2024
Next hearing date for the appeal (No. 1734 of 2024) is scheduled for April 20, 2026
The hearing on February 18, 2026, was postponed due to paucity of time at the tribunal
The legal matter involves a dispute between the company's representative and Happy Forgings Ltd.
💼 Action for Investors
Investors should exercise caution as the company remains under the threat of insolvency despite the temporary legal stay. Monitor the next hearing on April 20, 2026, as the outcome will significantly impact the stock's valuation and company's future.
Hi-Tech Gears Q3 FY26: Revenue Grows 9% to ₹2,235 Mn, but Consolidated PAT Plunges 87% YoY
The Hi-Tech Gears reported a mixed Q3 FY26 with consolidated revenue growing 9% YoY to ₹2,235 Mn, supported by domestic demand in premium motorcycles and EV segments. However, consolidated PAT saw a sharp decline of 87% YoY to ₹9 Mn, and EBITDA margins contracted to 9.80% from 12.97% in the previous year. The bottom line was impacted by higher conversion costs due to a large-scale machine refurbishment program and geopolitical headwinds in North American operations. Despite these pressures, the company secured new business worth ₹1,172 Mn (annualized) during 9M-FY26, including significant EV projects.
Key Highlights
Consolidated Q3 revenue increased 9% YoY to ₹2,235 Mn, while 9M-FY26 revenue fell 4.5% to ₹6,798 Mn.
Consolidated PAT for Q3 dropped 87% YoY to ₹9 Mn; 9M-FY26 PAT declined 57.8% to ₹129 Mn.
EBITDA margins fell to 9.80% in Q3 FY26 from 12.97% in Q3 FY25 due to refurbishment costs and labor code provisions.
New business wins totaling ₹1,172 Mn (annualized) in 9M-FY26, with a strong focus on EV components for Hero Moto Corp and Dana.
Refurbishment of 45% of high-value machines completed as of Dec 2025, with full completion targeted for Q2 FY27.
💼 Action for Investors
Investors should exercise caution as the company undergoes a high-cost consolidation and refurbishment phase that is severely impacting short-term profitability. Monitor the execution of new EV business wins and the stabilization of North American operations for a potential recovery in FY27.
Hi-Tech Pipes Q3 FY26: Revenue Up 40% to ₹1,070 Cr; PAT Dips 9% Amid Steel Price Volatility
Hi-Tech Pipes reported a robust 40% YoY revenue growth to ₹1,070 crores in Q3 FY26, driven by record quarterly sales volumes of 1.36 lakh tons. While EBITDA grew slightly by 4% to ₹42 crores, PAT declined by 9% to ₹17 crores due to a sharp correction in HRC prices and cheap imports. Management highlighted that the introduction of a 12% safeguard duty in late December 2025 has since stabilized domestic prices and restored margins. The company has successfully reached a 1 million ton capacity milestone and is targeting a 25% annual volume growth with a roadmap to 2 million tons by FY29.
Key Highlights
Highest ever quarterly sales volume of 1,36,000 tons, representing a 10% increase YoY.
Revenue from operations grew 40% YoY to ₹1,070 crores, though PAT fell 9% to ₹17 crores.
Reached 1 million tons total installed capacity following the commissioning of Sanand and Jammu units.
Management targets 25% annual volume growth with a long-term goal of 2 million tons capacity by FY29.
Steel prices declined by ₹2,500 per ton in Q3, but are expected to reverse in Q4 due to new safeguard duties.
💼 Action for Investors
Investors should monitor the recovery in margins in Q4 FY26 as the safeguard duty mitigates import pressure. The company's aggressive capacity expansion and focus on renewable energy projects provide a strong long-term growth outlook.
Hi-Tech Gears Q3 Consolidated PAT Plummets 87% YoY to ₹8.55 Million
The Hi-Tech Gears Limited reported a sharp 87.5% YoY decline in consolidated net profit to ₹8.55 million for Q3 FY26, despite an 8.8% growth in total income to ₹2,265.89 million. Profitability was severely impacted by rising material costs, which jumped to ₹1,176.59 million from ₹933.43 million YoY, and a ₹15.6 million one-time expense related to new labor codes. The Canadian subsidiary's performance was a significant drag, reporting a loss of ₹17.99 million compared to a profit in the same quarter last year. On a standalone basis, net profit also declined by 22.4% YoY to ₹57.96 million.
Key Highlights
Consolidated Net Profit crashed 87.5% YoY to ₹8.55 million from ₹68.68 million.
Total Consolidated Income grew 8.8% YoY to ₹2,265.89 million, but fell 6.8% sequentially.
Canada segment reported a loss of ₹17.99 million versus a profit of ₹11.52 million in Q3 FY25.
Cost of materials consumed rose significantly to ₹1,176.59 million from ₹933.43 million YoY.
Recognized a one-time past service cost of ₹15.6 million due to the consolidation of New Labour Codes.
💼 Action for Investors
Investors should exercise caution as the company faces severe margin pressure and losses in its international operations. The stock may face downward pressure until there is clarity on cost stabilization and a turnaround in the Canadian business.
Hitech Corp Q3 Revenue Grows to ₹131.5 Cr; CFO Retires, WTD Re-appointed
Hitech Corporation reported a 6.9% year-on-year growth in Q3 FY26 revenue, reaching ₹13,153.75 lakhs. For the nine-month period ending December 2025, revenue stood at ₹43,263.96 lakhs, up from ₹41,213.39 lakhs in the previous year. The company also announced the retirement of CFO Mrs. Avan R. Chaina effective February 11, 2026, with a search for a successor currently underway. Additionally, the Board approved the re-appointment of Mr. Mehernosh Mehta as Whole Time Director for a one-year term starting March 2026.
Key Highlights
Q3 FY26 revenue from operations increased to ₹13,153.75 lakhs from ₹12,300.05 lakhs YoY.
Nine-month revenue for FY26 rose to ₹43,263.96 lakhs compared to ₹41,213.39 lakhs in FY25.
CFO Mrs. Avan R. Chaina to retire on February 11, 2026, following the completion of her extended term.
Mr. Mehernosh Mehta re-appointed as Whole Time Director for 1 year effective March 17, 2026.
Company is in the process of identifying a successor for the CFO position to ensure a smooth transition.
💼 Action for Investors
Investors should monitor the upcoming appointment of the new CFO to ensure leadership continuity. While revenue growth is steady, the impact of management transitions on operational efficiency should be watched.
Hitech Corp Q3 Revenue Up 7% YoY to ₹131.5 Cr; CFO Avan Chaina Retires
Hitech Corporation reported a standalone revenue of ₹131.54 crore for Q3 FY26, marking a 6.9% growth compared to ₹123.00 crore in the same quarter last year. For the nine-month period ended December 31, 2025, revenue rose to ₹432.64 crore from ₹412.13 crore YoY. The company also announced the retirement of CFO Mrs. Avan R. Chaina effective February 11, 2026, and is currently identifying a successor. Additionally, Mr. Mehernosh Mehta has been re-appointed as Whole Time Director for a one-year term starting March 2026.
Key Highlights
Standalone revenue for Q3 FY26 stood at ₹13,153.75 lakhs vs ₹12,300.05 lakhs YoY.
Revenue for 9M FY26 reached ₹43,263.96 lakhs, a growth of 4.97% over 9M FY25.
Sequential revenue declined by 11.3% from ₹14,828.15 lakhs in Q2 FY26.
CFO Mrs. Avan R. Chaina to retire on February 11, 2026; succession process is underway.
Whole Time Director Mehernosh Mehta re-appointed for one year effective March 17, 2026.
💼 Action for Investors
Investors should monitor the appointment of the new CFO to ensure management stability and track if the sequential revenue decline is a seasonal trend or a demand slowdown.
Hi-Tech Pipes Achieves 1 Million Ton Capacity Milestone via New Sikandrabad Unit
Hi-Tech Pipes has successfully commissioned its Greenfield facility at Sikandrabad, UP, adding 1,20,000 MTPA to its production. This expansion marks the achievement of a 1.05 million ton total annual installed capacity milestone for the company. The project involved an investment of Rs. 85 crores, which was entirely financed through internal accruals, demonstrating strong cash flow management. Looking ahead, the company has set a medium-term target to double its capacity to 2 million tons to capitalize on rising infrastructure demand.
Key Highlights
Commissioned 1,20,000 MTPA Greenfield facility at Sikandrabad, UP, focused on ERW pipes.
Total company-wide installed capacity now stands at a landmark 1.05 million tons per annum.
Project investment of Rs. 85 crores was fully funded through internal accruals.
Management announced a roadmap to add another 1 million tons of capacity in the medium term.
Strategic location in UP expected to reduce logistics costs and improve supply chain efficiency.
💼 Action for Investors
This expansion strengthens the company's market position in North India and provides a clear growth trajectory. Investors should monitor the ramp-up in capacity utilization and the subsequent impact on EBITDA per ton.
Hi-Tech Pipes Reports Un-Audited Financial Results for Q3 and 9M Ended December 31, 2025
Hi-Tech Pipes Limited has officially released its un-audited financial results for the third quarter and the nine-month period ending December 31, 2025. The announcement was submitted to the stock exchanges on February 07, 2026, following board approval. This disclosure is a mandatory regulatory requirement and provides a snapshot of the company's performance during the late 2025 fiscal period. Investors should note that while the cover letter confirms the filing, the detailed financial tables are necessary to evaluate specific growth in revenue and margins.
Key Highlights
Submission of un-audited financial results for the quarter ended December 31, 2025.
Reporting of cumulative performance for the nine-month period of the 2025-2026 fiscal year.
Official communication dispatched to both NSE and BSE in compliance with listing regulations.
The results encompass the company's core segments including GI pipes, hollow sections, and CR coils.
💼 Action for Investors
Investors should review the full financial statement to assess volume growth and EBITDA margins compared to previous quarters. Compare the performance against industry benchmarks to determine if the company is gaining market share in the steel pipes segment.
Hi-Tech Pipes Releases Q3 & 9M FY26 Investor Presentation
Hi-Tech Pipes Limited has officially released its investor presentation for the quarter and nine months ended December 31, 2025. This document provides a comprehensive overview of the company's un-audited financial performance and operational metrics. As a major player in the MS Pipes and solar mounting structures segment, the presentation is intended to offer clarity on growth trajectories and market positioning. Investors can access the full report on the company's website or through exchange filings to evaluate the latest fiscal trends.
Key Highlights
Submission of investor presentation for the period ending December 31, 2025.
Covers un-audited financial results for both the third quarter and the nine-month period of FY26.
Focuses on core business segments including MS Pipes, Hollow Sections, and Color Coated Coils.
Compliance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations.
💼 Action for Investors
Investors should examine the presentation for specific details on capacity utilization and EBITDA per ton to gauge operational efficiency. Monitor the management's outlook on the infrastructure and solar sectors for future growth signals.
Hi-Tech Pipes Q3 Revenue Jumps 40% YoY to ₹1,069 Cr; PAT Declines 9% to ₹17.39 Cr
Hi-Tech Pipes reported a robust 40.5% YoY growth in consolidated revenue, reaching ₹1,069.59 crore for Q3 FY26. However, net profit (PAT) declined by 9.2% YoY to ₹17.39 crore, impacted by a sharp rise in finance costs and increased stock-in-trade purchases. Sequentially, PAT also saw a decline of 14.2% from ₹20.26 crore in Q2 FY26. Additionally, the company entered into a non-compete agreement with Hi-Tech Flow Solutions to focus exclusively on ERW steel tubes and pipes while exiting the Spiral SAW pipes business.
Key Highlights
Consolidated Revenue from Operations grew 40.5% YoY to ₹1,069.59 crore.
Net Profit (PAT) fell 9.2% YoY to ₹17.39 crore from ₹19.15 crore in the year-ago period.
Finance costs increased significantly by 39.7% YoY to ₹12.25 crore.
Basic EPS for the quarter stood at ₹0.84, down from ₹1.08 in Q3 FY25.
Strategic non-compete agreement signed to demarcate business domains between ERW tubes and Spiral SAW pipes.
💼 Action for Investors
Investors should monitor the pressure on margins as rising finance costs and operational expenses are offsetting the strong top-line growth. The strategic focus on ERW pipes through the new non-compete agreement needs to demonstrate improved profitability in upcoming quarters.
Hi-Tech Pipes Q3 FY26 Revenue Jumps 40% to ₹1,069 Cr; PAT Dips 9% to ₹17.4 Cr
Hi-Tech Pipes reported a strong 40.5% YoY growth in consolidated revenue for Q3 FY26, reaching ₹1,069.58 crore. However, net profit for the quarter declined by 9.2% YoY to ₹17.38 crore, primarily due to a sharp increase in finance costs and purchase of stock-in-trade. For the nine-month period ended December 2025, the company maintained a steady performance with a 5.8% growth in PAT to ₹58.56 crore. Additionally, the board approved a non-compete agreement with Hi-Tech Flow Solutions to clearly demarcate business domains between ERW tubes and Spiral SAW pipes.
Key Highlights
Consolidated Revenue from Operations grew 40.5% YoY to ₹1,069.58 crore in Q3 FY26.
Consolidated Net Profit (PAT) decreased 9.2% YoY to ₹17.38 crore from ₹19.15 crore in the previous year's quarter.
Finance costs rose significantly to ₹12.25 crore in Q3 FY26 compared to ₹8.76 crore in Q3 FY25.
Nine-month (9M FY26) revenue stood at ₹2,719.71 crore with a PAT of ₹58.56 crore.
Entered a non-compete agreement to focus exclusively on ERW steel tubes while exiting Spiral SAW pipes manufacturing.
💼 Action for Investors
Investors should monitor the pressure on margins caused by rising finance costs despite the robust top-line growth. The strategic business demarcation via the non-compete agreement provides long-term operational clarity but the immediate focus remains on bottom-line recovery.
Garware Hi-Tech Q3 FY26 Revenue at ₹459 Cr; EBITDA Margins Resilient at 18.9% Despite US Tariffs
Garware Hi-Tech Films reported a marginal 1.6% YoY revenue decline to ₹459 crores in Q3 FY26, primarily due to the full impact of a 50% US tariff structure. Despite these headwinds, EBITDA margins remained healthy at 18.9%, supported by cost optimization and a shift toward high-end product mixes. The company is aggressively expanding its global footprint with a new UAE subsidiary and has successfully doubled its Paint Protection Film (PPF) capacity to 600 LSF. With a debt-free balance sheet and ₹669 crores in cash, the company is well-funded for its upcoming TPU line commissioning in October 2026.
Key Highlights
Q3 FY26 revenue stood at ₹459 crores, a slight 1.6% YoY decline, with exports contributing 74.3% of total sales.
EBITDA for the quarter was ₹86.7 crores with margins at 18.9%, down 118 bps YoY due to tariff-related cost absorption.
Paint Protection Film (PPF) capacity doubled to 600 LSF in September 2025, with a new TPU line expected by October 2026.
Company remains debt-free with a strong cash and liquid investment balance of ₹669 crores as of December 31, 2025.
Retail footprint expanded to over 250 Garware Application Studios, with a target to cross 300 by the end of FY26.
💼 Action for Investors
Investors should monitor the potential for US tariff relief and the ramp-up of the newly doubled PPF capacity which could drive future growth. The company's strong net-cash position and expansion into the Middle East provide a safety margin and long-term growth visibility.
Garware Hi-Tech Films Launches 4 New Automotive Care Products at ACMA Automechanika 2026
Garware Hi-Tech Films (GHFL) has expanded its automotive portfolio by launching four new product lines: Ceramic & Graphene Coating, Car Care Kits, Window Film Kits, and Wind-Shield Pro. These products were unveiled at the ACMA Automechanika New Delhi 2026 to target the growing vehicle protection and maintenance market. The Window Film Kits are tiered into Gold, Silver, and Bronze categories to capture different price segments. This move leverages GHFL's existing presence in 90+ countries and its vertically integrated manufacturing capabilities to drive revenue growth in the high-margin automotive care segment.
Key Highlights
Launched 4 new products: Ceramic & Graphene Coating, Car Care Kit, Window Film Kits, and Wind-Shield Pro
Introduced tiered Window Film Kits (Gold, Silver, Bronze) to address premium, mid, and economy market segments
Products unveiled at the ACMA Automechanika New Delhi 2026 to strengthen automotive solutions portfolio
Company leverages vertical integration and a global presence in over 90 countries for these new launches
💼 Action for Investors
Investors should monitor the adoption rate of these new products and their impact on the company's automotive segment margins in the coming quarters.
Garware Hi-Tech Q3 FY26 PAT at ₹56 Cr; Focuses on UAE Expansion and D2C Growth
Garware Hi-Tech Films reported a slight year-on-year decline in Q3 FY26, with revenue at ₹459 crore and PAT at ₹56 crore. Despite tariff-related impacts affecting margins, the company is aggressively expanding its D2C footprint through 'Garware Home Solutions' and a new UAE subsidiary for the MENA region. The company maintains a robust financial position with a liquidity surplus of ₹669 crore and remains net debt-free. Future growth is supported by the doubling of PPF capacity to 60 million sq. ft. and an upcoming ₹118 crore TPU line investment.
Key Highlights
Q3 FY26 Revenue reached ₹459 Cr with EBITDA margins at 18.9% vs 20.1% YoY.
Consolidated PAT for the quarter stood at ₹56 Cr compared to ₹61 Cr in the previous year.
Strong liquidity position with ₹669 Cr in surplus and zero net debt as of Dec 2025.
PPF capacity doubled to 60 million sq. ft. in Q2 FY26; new TPU line planned for Oct 2026 with ₹118 Cr capex.
Value-Added Products (VAP) continue to dominate the mix, contributing 86% to total revenue.
💼 Action for Investors
Investors should watch for the margin recovery as the company navigates global tariff shifts and scales its new D2C architectural film business. The strong balance sheet and capacity expansions in high-margin segments like PPF provide long-term support.
Garware Hi-Tech Q3 FY26 PAT Declines 8.3% YoY to ₹55.8 Cr Amid Global Trade Challenges
Garware Hi-Tech Films reported a slight decline in performance for Q3 FY26, with consolidated revenue dipping 1.6% YoY to ₹458.7 crore. Profitability was impacted as EBITDA fell 7.4% YoY to ₹86.7 crore, with margins contracting by 118 bps to 18.9%. The company faced significant sequential pressure, with PAT dropping 38.9% QoQ, which management attributed to a seasonally strong base in Q2 and global trade volatility. Despite the dip, the company is aggressively expanding its international footprint with a new UAE subsidiary and launching a domestic D2C brand, Garware Home Solutions.
Key Highlights
Consolidated Revenue for Q3 FY26 stood at ₹458.7 crore, down 1.6% YoY and 19.5% QoQ.
Net Profit (PAT) decreased by 8.3% YoY to ₹55.8 crore, with EPS falling to ₹24.0 from ₹26.2.
EBITDA margins contracted to 18.9% compared to 20.1% in Q3 FY25 and 23.4% in Q2 FY26.
9MFY26 Revenue and PAT are down 2.4% and 9.2% respectively compared to the same period last year.
Announced a new wholly owned subsidiary in UAE and launched the Garware Home Solutions D2C business in Mumbai.
💼 Action for Investors
The stock may face short-term pressure due to the sharp sequential decline in earnings and margin contraction. Investors should watch for the stabilization of global trade conditions and the revenue contribution from the new UAE subsidiary and D2C initiatives.
Garware Hi-Tech Q3 Standalone Net Profit Declines 18% YoY to ₹53.48 Crore
Garware Hi-Tech Films reported a standalone revenue of ₹451.03 crore for Q3 FY26, a marginal 2% increase compared to ₹441.83 crore in Q3 FY25. However, standalone net profit saw a significant decline of 18.4% YoY, falling to ₹53.48 crore from ₹65.53 crore. On a sequential basis, the performance was sharply lower, with net profit dropping nearly 50% from the ₹106.52 crore recorded in Q2 FY26. The company also announced plans to seek shareholder approval for the appointment of Mr. Uday V. Joshi as a Whole-Time Director.
Key Highlights
Standalone Revenue from Operations at ₹451.03 crore, up 2% YoY but down 12% sequentially from Q2 FY26.
Standalone Net Profit after tax fell to ₹53.48 crore, compared to ₹65.53 crore in the same quarter last year.
Basic and Diluted EPS decreased to ₹23.02 from ₹28.21 in Q3 FY25.
Subsidiaries contributed ₹125.32 crore in revenue and ₹6.08 crore in net profit to the consolidated results for the quarter.
Board approved a Postal Ballot for the regularization of Mr. Uday V. Joshi as Director/Whole-Time Director.
💼 Action for Investors
Investors should exercise caution due to the sharp sequential drop in profitability and revenue, which may indicate margin pressure. It is advisable to review the investor presentation to identify if the decline is due to cyclicality or rising raw material costs before making new entries.
Garware Hi-Tech to Set Up Dubai Subsidiary with AED 40 Million Capital for Global Expansion
Garware Hi-Tech Films Limited (GHFL) has announced the incorporation of a 100% wholly-owned subsidiary in Dubai, UAE. The new entity will have a proposed capital of up to 40 million AED (approximately ₹91 crore) and will focus on the trading and export of films, ceramic coatings, and Paint Protection Films (PPF). This strategic move is designed to capture market share in the MENA region and facilitate exports to other global markets. The investment will be made through a cash subscription to the initial paid-up share capital.
Key Highlights
Approved incorporation of a 100% wholly-owned subsidiary in Dubai and UAE
Proposed capital commitment of up to 40 million AED (approximately ₹91 crore)
Focus on high-margin segments including Films, Ceramic Coatings, and Paint Protection Films (PPF)
Strategic objective to serve the MENA region and enhance global export capabilities
💼 Action for Investors
This expansion signals a strong intent to scale international operations in premium automotive and architectural film segments. Investors should monitor the subsidiary's contribution to export margins and revenue growth in upcoming quarters.
Garware Hi-Tech Films to Incorporate Dubai WOS with AED 40 Million Capital
Garware Hi-Tech Films Limited (GHFL) has approved the incorporation of a wholly-owned subsidiary (WOS) in Dubai, UAE, to strengthen its international footprint. The new entity will have a proposed capital of up to 40 Million AED and will focus on the trading and export of specialized films, ceramic coatings, and Paint Protection Films (PPF). This strategic move is designed to capture market share in the MENA region and serve as a hub for global exports. The investment will be 100% cash-funded by the parent company.
Key Highlights
Board approved 100% Wholly-owned Subsidiary incorporation in Dubai and UAE
Proposed capital investment of up to 40 Million AED to be funded via cash
Focus areas include high-growth segments: Films, Ceramic Coatings, and Paint Protection Film (PPF)
Strategic objective to target the MENA region and facilitate exports to other global markets
The entity will be a related party of GHFL once incorporation is completed
💼 Action for Investors
Investors should monitor the timeline for the subsidiary's operational launch as it signals a significant push into high-margin international markets. This expansion could lead to improved export revenue and better penetration in the premium automotive and architectural film segments.
Garware Hi-Tech to Form UAE Subsidiary with 40M AED Capital; Appoints New Executive Director
Garware Hi-Tech Films has announced the incorporation of a wholly-owned subsidiary in Dubai, UAE, with a proposed capital of up to 40 Million AED to target the MENA region and global markets. The new entity will focus on the trading and export of films, ceramic coatings, and Paint Protection Films (PPF). On the leadership front, Mr. Uday V. Joshi, who has 35 years of industry experience, has been appointed as a Whole-Time Director for a three-year term starting February 1, 2026. This follows the scheduled departure of Mr. Mohan S. Adsul from the board on January 31, 2026.
Key Highlights
Approved incorporation of a Wholly-Owned Subsidiary in Dubai/UAE with a proposed capital of up to 40 Million AED.
The new subsidiary will focus on films, Ceramic Coatings, and PPF for the MENA region and global exports.
Appointed Mr. Uday V. Joshi as Whole-Time Director for a 3-year term effective February 1, 2026.
Mr. Mohan S. Adsul to cease being Whole-time Director from the close of business hours on January 31, 2026.
Reconstituted several board committees including Risk Management and Stakeholders Relationship Committees.
💼 Action for Investors
Investors should view the expansion into the MENA region as a positive growth driver for the company's high-margin PPF and film segments. Monitor the progress of the UAE subsidiary's operational setup and its contribution to export revenues in upcoming quarters.
Garware Hi-Tech to Form UAE Subsidiary with 40M AED Capital; Appoints New Executive Director
Garware Hi-Tech Films has approved the incorporation of a wholly-owned subsidiary in Dubai, UAE, with a proposed capital investment of up to 40 Million AED. This new entity will focus on trading films, ceramic coatings, and Paint Protection Films (PPF) across the MENA region and global markets. On the leadership front, Mr. Uday V. Joshi, an industry veteran with 35 years of experience, has been appointed as a Whole-Time Director for a three-year term starting February 2026. This follows the scheduled departure of Mr. Mohan S. Adsul from the board on January 31, 2026.
Key Highlights
Approved incorporation of a 100% subsidiary in Dubai/UAE to target the MENA market
Proposed capital for the new UAE subsidiary is set at up to 40 Million AED
Appointed Mr. Uday V. Joshi as Whole-Time Director for a 3-year term effective Feb 1, 2026
Mr. Mohan S. Adsul to step down as Whole-time Director on Jan 31, 2026
The new subsidiary will focus on high-margin products including Ceramic Coatings and Paint Protection Films (PPF)
💼 Action for Investors
Investors should view the expansion into the MENA region as a strategic move to scale the high-growth PPF and ceramic coating segments. The leadership transition appears well-planned, bringing in an experienced professional to drive manufacturing and process enhancements.