Garware Technical Fibres Ltd

Garware Technical Fibres Ltd

₹ 887 3.14%
21 May - close price
About

Established in 1976, Garware-Wall Ropes (GWRL) is one of India's leading players in the technical textiles sector, providing specialized solutions to the cordage and infrastructure industry worldwide. The company manufactures and provides world class solutions in high performance polymer ropes, fishing nets, sports nets, safety nets, aquaculture cages, coated fabrics, agricultural netting and geosynthetics.

Key Points

Market Position
The company is among the Top 50 companies and in the Top 25 Technical Textile Manufacturing companies in India as per GPTW. [1]

  • Market Cap 8,817 Cr.
  • Current Price 887
  • High / Low 986 / 635
  • Stock P/E 38.1
  • Book Value 125
  • Dividend Yield 0.07 %
  • ROCE 24.7 %
  • ROE 18.7 %
  • Face Value 10.0

Pros

  • Company has reduced debt.
  • Company is almost debt free.

Cons

  • Stock is trading at 7.09 times its book value
  • The company has delivered a poor sales growth of 10.1% over past five years.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025
356 304 356 275 370 326 328 289 382 336 421 351 433
283 264 294 227 291 267 260 236 291 272 329 286 334
Operating Profit 73 41 62 47 80 58 69 53 91 64 91 65 98
OPM % 21% 13% 17% 17% 22% 18% 21% 18% 24% 19% 22% 18% 23%
5 5 8 8 8 9 10 11 13 11 10 9 9
Interest 1 3 3 3 3 4 4 3 6 6 6 4 3
Depreciation 5 5 5 6 6 6 6 7 7 7 7 7 7
Profit before tax 71 37 61 47 78 57 68 55 91 62 88 62 97
Tax % 24% 24% 22% 22% 24% 25% 23% 21% 23% 25% 25% 23% 27%
54 28 48 37 60 43 52 43 70 47 66 48 71
EPS in Rs 5.23 2.73 4.63 3.59 5.86 4.22 5.15 4.25 6.88 4.71 6.64 4.81 7.16
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Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
685 782 825 846 885 1,018 953 1,035 1,189 1,306 1,326 1,540
622 703 722 710 724 826 775 830 966 1,076 1,054 1,221
Operating Profit 62 79 103 136 161 192 178 204 223 230 272 319
OPM % 9% 10% 13% 16% 18% 19% 19% 20% 19% 18% 21% 21%
4 4 6 8 18 21 32 35 25 28 43 38
Interest 13 10 9 7 10 14 12 10 11 12 17 20
Depreciation 14 12 13 14 15 17 19 21 21 22 26 28
Profit before tax 39 61 87 123 153 182 179 208 216 223 272 308
Tax % 32% 29% 29% 32% 31% 31% 21% 24% 24% 23% 23% 25%
27 43 62 84 105 126 141 158 165 172 208 232
EPS in Rs 2.35 3.94 5.66 7.71 9.61 11.49 12.85 15.36 15.98 16.90 20.43 23.33
Dividend Payout % 22% 15% 12% 13% 9% 9% 26% 3% 9% 4% 3% 6%
Compounded Sales Growth
10 Years: 7%
5 Years: 10%
3 Years: 9%
TTM: 16%
Compounded Profit Growth
10 Years: 18%
5 Years: 11%
3 Years: 12%
TTM: 11%
Stock Price CAGR
10 Years: 38%
5 Years: 28%
3 Years: 15%
1 Year: 37%
Return on Equity
10 Years: 19%
5 Years: 19%
3 Years: 18%
Last Year: 19%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Equity Capital 22 22 22 22 22 22 22 21 21 20 20 99
Reserves 254 289 344 424 515 628 717 790 950 996 1,213 1,142
71 40 45 86 138 108 133 102 80 134 123 65
253 349 412 309 310 319 319 406 365 343 414 450
Total Liabilities 599 699 822 842 985 1,078 1,191 1,319 1,415 1,493 1,771 1,757
153 166 199 203 221 227 244 247 240 246 262 277
CWIP 7 7 0 0 0 0 0 0 0 0 0 0
Investments 9 9 9 111 244 330 376 467 521 617 689 703
430 517 613 528 519 521 570 605 654 630 820 777
Total Assets 599 699 822 842 985 1,078 1,191 1,319 1,415 1,493 1,771 1,757

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
79 74 143 120 28 133 110 228 64 189 219 195
-20 -25 -37 -147 -53 -78 -47 -120 8 -102 -73 -3
-70 -48 -36 27 29 -56 -37 -135 -38 -85 -39 -331
Net Cash Flow -11 2 70 1 4 -1 25 -27 34 3 108 -139

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Debtor Days 76 85 94 85 90 87 90 85 79 65 72 75
Inventory Days 146 138 145 176 206 186 250 235 234 187 256 227
Days Payable 74 67 186 247 257 215 241 308 220 169 227 221
Cash Conversion Cycle 148 156 53 14 40 58 99 12 93 83 102 81
Working Capital Days 88 74 60 49 81 76 92 60 85 72 69 96
ROCE % 14% 20% 25% 28% 26% 26% 23% 24% 23% 21% 23% 25%

Shareholding Pattern

Numbers in percentages

Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025
52.62% 52.61% 52.70% 52.70% 52.70% 52.70% 52.70% 52.70% 53.00% 53.00% 53.00% 53.00%
7.39% 8.33% 8.46% 8.57% 8.62% 8.58% 8.77% 9.34% 9.55% 9.82% 10.15% 9.80%
5.93% 6.62% 6.98% 7.59% 8.76% 9.62% 10.19% 10.02% 10.39% 10.44% 10.37% 10.97%
34.07% 32.44% 31.85% 31.12% 29.90% 29.09% 28.33% 27.95% 27.06% 26.74% 26.50% 26.24%
No. of Shareholders 45,01944,51844,34642,85942,62541,18538,11192,44537,16436,83242,65446,773

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

Click on the line-items to see the names of individual entities.

Documents

Concalls