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Garware Tech. Fibres Overview

Garware Technical Fibres Ltd, previously Garware-Wall Ropes Ltd, is an totally India-based technical textiles enterprise. The Company offers solutions in aquaculture cage nets, fishing nets, sports nets, safety nets, agricultural nets, coated fabric, polymer ropes and geosynthetics. Its fisheries solutions encompass trawling, gill netting, dole netting and purse seine. Aquaculture solutions consist of grow out cage/nursery, predator cage and lice shields. Shipping and industrial solutions consist of mooring, towing, power transmission, submers...Read More

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Garware Tech. Fibres Key Financials

Market Cap ₹6400 Cr.

Stock P/E 27.6

P/B 4.7

Current Price ₹644.7

Book Value ₹ 136.5

Face Value 10

52W High ₹969.9

Dividend Yield 0.23%

52W Low ₹ 579.5

Garware Tech. Fibres Share Price

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Volume
Price

Garware Tech. Fibres Quarterly Price

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Garware Tech. Fibres Peer Comparison

Garware Tech. Fibres Quarterly Results

#(Fig in Cr.) Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025
Net Sales 328 289 382 336 421 351 433 367 348 387
Other Income 10 11 13 11 10 9 9 13 9 18
Total Income 338 301 395 347 430 360 442 380 357 405
Total Expenditure 260 236 291 272 329 286 334 299 299 316
Operating Profit 79 65 104 75 101 74 107 81 58 89
Interest 4 3 6 6 6 4 3 3 3 4
Depreciation 6 7 7 7 7 7 7 7 9 9
Exceptional Income / Expenses 0 0 0 0 0 0 0 0 0 0
Profit Before Tax 68 55 91 62 88 62 97 70 46 75
Provision for Tax 16 12 21 15 22 14 26 17 14 19
Profit After Tax 52 43 70 47 66 48 71 53 32 56
Adjustments 0 -0 0 0 0 0 0 -0 -0 0
Profit After Adjustments 52 43 70 47 66 48 71 53 32 56
Adjusted Earnings Per Share 5.2 4.2 6.9 4.7 6.6 4.8 7.2 5.3 3.2 5.7

Garware Tech. Fibres Profit & Loss

#(Fig in Cr.) Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 TTM
Net Sales 782 825 846 885 1018 953 1035 1189 1306 1326 1540 1535
Other Income 5 11 9 33 30 49 45 43 40 50 51 49
Total Income 788 836 855 918 1048 1002 1080 1233 1346 1375 1591 1584
Total Expenditure 704 727 711 739 835 792 841 984 1088 1061 1235 1248
Operating Profit 83 109 144 178 213 210 239 248 257 315 357 335
Interest 10 9 7 10 14 12 10 11 12 17 20 13
Depreciation 12 13 14 15 17 19 21 21 22 26 28 32
Exceptional Income / Expenses 0 0 0 0 0 0 0 0 0 0 0 0
Profit Before Tax 61 87 123 153 182 179 208 216 223 272 308 288
Provision for Tax 17 25 39 48 56 38 50 52 51 61 77 76
Profit After Tax 43 62 84 105 126 141 158 165 172 210 232 212
Adjustments -0 -0 -0 -0 -0 -0 0 0 0 0 -0 0
Profit After Adjustments 43 62 84 105 126 141 158 165 172 210 232 212
Adjusted Earnings Per Share 3.9 5.7 7.7 9.6 11.5 12.8 15.4 16 16.9 20.6 23.3 21.4

Growth Rates

# 1 Year 3 Year 5 Year 10 Year
Sales CAGR 16% 9% 10% 7%
Operating Profit CAGR 13% 13% 11% 16%
PAT CAGR 10% 12% 10% 18%
# 1 Year 3 Year 5 Year 10 Year
Share Price CAGR -27% 4% 5% 24%
ROE Average 19% 18% 19% 19%
ROCE Average 25% 23% 23% 24%

Garware Tech. Fibres Balance Sheet

#(Fig in Cr.) Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Shareholder's Funds 311 365 446 537 650 739 811 971 1016 1234 1242
Minority's Interest 0 0 0 0 0 0 0 0 0 0 0
Borrowings 4 0 0 0 0 0 0 0 0 0 0
Other Non-Current Liabilities 26 37 37 39 45 42 48 47 46 54 64
Total Current Liabilities 358 419 358 409 383 409 460 397 431 483 451
Total Liabilities 699 822 842 985 1078 1191 1319 1415 1493 1771 1757
Fixed Assets 166 199 203 221 227 244 247 240 246 262 277
Other Non-Current Assets 33 28 137 273 311 300 247 361 638 583 633
Total Current Assets 500 595 501 490 540 646 825 814 610 927 846
Total Assets 699 822 842 985 1078 1191 1319 1415 1493 1771 1757

Garware Tech. Fibres Cash Flow

#(Fig in Cr.) Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Opening Cash & Cash Equivalents 9 11 3 4 8 8 32 5 39 42 149
Cash Flow from Operating Activities 74 143 120 28 133 110 228 64 189 219 195
Cash Flow from Investing Activities -25 -37 -147 -53 -77 -47 -120 8 -102 -73 -3
Cash Flow from Financing Activities -48 -36 27 29 -56 -37 -135 -38 -85 -39 -331
Net Cash Inflow / Outflow 2 70 1 4 -1 25 -27 34 3 108 -139
Closing Cash & Cash Equivalent 11 81 4 8 8 32 5 39 42 149 11

Garware Tech. Fibres Ratios

# Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Earnings Per Share (Rs) 3.94 5.66 7.71 9.61 11.49 12.84 15.36 15.98 16.9 20.64 23.33
CEPS(Rs) 5.07 6.86 9 11.02 13.06 14.6 17.37 18.07 19.09 23.18 26.18
DPS(Rs) 0.6 0.66 1 0.9 1 3.4 0.5 1.4 0.7 0.6 1.5
Book NAV/Share(Rs) 28.39 33.4 40.79 49.06 59.44 67.55 78.68 94.15 99.75 121.1 125.08
Core EBITDA Margin(%) 9.9 11.77 15.86 16.41 17.7 16.71 18.5 17.12 16.52 19.85 19.66
EBIT Margin(%) 9.01 11.56 15.28 18.41 18.96 19.78 20.87 18.93 17.89 21.64 21.14
Pre Tax Margin(%) 7.7 10.51 14.51 17.29 17.63 18.58 19.89 18.05 16.98 20.35 19.85
PAT Margin (%) 5.48 7.47 9.93 11.88 12.17 14.6 15.14 13.74 13.1 15.75 14.9
Cash Profit Margin (%) 7.06 9.05 11.6 13.61 13.84 16.6 17.11 15.53 14.8 17.69 16.73
ROA(%) 6.64 8.14 10.14 11.52 12.19 12.39 12.62 12.05 11.84 12.88 13.13
ROE(%) 14.72 18.31 20.79 21.4 21.17 20.23 20.44 18.5 17.33 18.69 18.71
ROCE(%) 20.33 25.2 27.53 27.01 27.32 23.37 24.48 23.13 21.38 23.1 24.74
Receivable days 75.32 86.82 88.14 85.91 81.63 90.64 83.21 76.07 68.33 67.86 68.03
Inventory Days 61.26 57.81 57.25 62.89 58.73 68.22 66.65 63.07 60.87 64.4 61.82
Payable days 65.47 131.53 223.66 252.89 220.81 247.82 267.83 240.44 176.02 210.09 206.2
PER(x) 9.27 11.91 18.46 19.13 19.71 16.61 33.44 35.43 34.4 32.21 37.02
Price/Book(x) 1.29 2.02 3.49 3.75 3.81 3.16 6.53 6.02 5.83 5.49 6.9
Dividend Yield(%) 1.64 0.98 0.7 0.49 0.44 1.59 0.1 0.25 0.12 0.09 0.17
EV/Net Sales(x) 0.55 0.85 1.81 2.4 2.53 2.55 5.16 4.94 4.6 5.07 5.57
EV/Core EBITDA(x) 5.15 6.43 10.62 11.92 12.07 11.6 22.35 23.66 23.35 21.34 24.05
Net Sales Growth(%) 14.27 5.44 2.55 4.58 15.06 -6.36 8.55 14.97 9.77 1.54 16.18
EBIT Growth(%) 36.14 35.3 35.38 25.65 20.09 -2.75 14.68 3.94 3.59 22.88 13.69
PAT Growth(%) 61.15 43.56 36.27 24.67 19.5 11.82 12.71 4.03 4.5 22.11 10.12
EPS Growth(%) 61.82 43.56 36.28 24.67 19.5 11.82 19.62 4.03 5.73 22.11 13.02
Debt/Equity(x) 0.13 0.12 0.19 0.26 0.17 0.18 0.13 0.08 0.13 0.1 0.05
Current Ratio(x) 1.4 1.42 1.4 1.2 1.41 1.58 1.79 2.05 1.42 1.92 1.88
Quick Ratio(x) 1.01 1.12 1.01 0.8 0.97 1.11 1.38 1.49 0.92 1.39 1.28
Interest Cover(x) 6.91 10.99 19.86 16.34 14.27 16.46 21.16 21.47 19.67 16.79 16.4
Total Debt/Mcap(x) 0.1 0.06 0.06 0.07 0.04 0.06 0.02 0.01 0.02 0.02 0.01

Garware Tech. Fibres Shareholding Pattern

# Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026
Promoter 52.7 52.7 53 53 53 53 53 53 53.36 53.36
FII 8.77 9.34 9.56 9.82 10.15 9.8 9.89 10.05 9.07 9.12
DII 10.2 10.01 10.39 10.44 10.37 10.97 10.97 10.99 10.45 10.29
Public 28.33 27.95 27.06 26.75 26.48 26.23 26.14 25.96 27.13 27.23
Others 0 0 0 0 0 0 0 0 0 0
Total 100 100 100 100 100 100 100 100 100 100

Garware Tech. Fibres News

Garware Tech. Fibres Pros & Cons

Pros

  • Debtor days have improved from 210.09 to 206.2days.
  • Company is almost debt free.

Cons

  • Stock is trading at 4.7 times its book value.
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