Garware Technical Fibres Ltd

₹ 694 -1.27%

01 Dec - close price

garwareropes.com BSE: 509557 NSE: GARFIBRES

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]

Website BSE NSE

Market Cap ₹ 6,881 Cr.
Current Price ₹ 694
High / Low ₹ 986 / 664
Stock P/E 33.7
Book Value ₹ 131
Dividend Yield 1.15 %
ROCE 24.7 %
ROE 18.7 %
Face Value ₹ 10.0

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Pros

Cons

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.

Peer comparison

Consumer Discretionary Textiles Textiles & Apparels Other Textile Products

Part of BSE 500 BSE SmallCap BSE Allcap BSE Consumer Discretionary BSE 250 SmallCap Index BSE 400 MidSmallCap Index Nifty Microcap 250 Nifty Total Market

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Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
	356	275	370	326	328	289	382	336	421	351	433	367	348
	294	227	291	267	260	236	291	272	329	286	334	299	299
Operating Profit	62	47	80	58	69	53	91	64	91	65	98	68	48
OPM %	17%	17%	22%	18%	21%	18%	24%	19%	22%	18%	23%	19%	14%
	8	8	8	9	10	11	13	11	10	9	9	13	9
Interest	3	3	3	4	4	3	6	6	6	4	3	3	3
Depreciation	5	6	6	6	6	7	7	7	7	7	7	7	9
Profit before tax	61	47	78	57	68	55	91	62	88	62	97	70	46
Tax %	22%	22%	24%	25%	23%	21%	23%	25%	25%	23%	27%	25%	30%
	48	37	60	43	52	43	70	47	66	48	71	53	32
EPS in Rs	4.63	3.59	5.86	4.22	5.15	4.25	6.88	4.71	6.64	4.81	7.16	5.35	3.22
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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	TTM
	685	782	825	846	885	1,018	953	1,035	1,189	1,306	1,326	1,540	1,498
	622	703	722	710	724	826	775	830	966	1,076	1,054	1,221	1,219
Operating Profit	62	79	103	136	161	192	178	204	223	230	272	319	279
OPM %	9%	10%	13%	16%	18%	19%	19%	20%	19%	18%	21%	21%	19%
	4	4	6	8	18	21	32	35	25	28	43	38	40
Interest	13	10	9	7	10	14	12	10	11	12	17	20	14
Depreciation	14	12	13	14	15	17	19	21	21	22	26	28	31
Profit before tax	39	61	87	123	153	182	179	208	216	223	272	308	275
Tax %	32%	29%	29%	32%	31%	31%	21%	24%	24%	23%	23%	25%
	27	43	62	84	105	126	141	158	165	172	210	232	204
EPS in Rs	2.35	3.94	5.66	7.71	9.61	11.49	12.85	15.36	15.98	16.90	20.63	23.33	20.54
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:	5%

Compounded Profit Growth
10 Years:	18%
5 Years:	11%
3 Years:	12%
TTM:	-10%

Stock Price CAGR
10 Years:	24%
5 Years:	10%
3 Years:	0%
1 Year:	-25%

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	Sep 2025
Equity Capital	22	22	22	22	22	22	22	21	21	20	20	99	99
Reserves	254	289	344	424	515	628	717	790	950	996	1,213	1,142	1,199
	71	40	45	86	138	108	133	102	80	134	123	65	132
	253	349	412	309	310	319	319	406	365	343	414	450	447
Total Liabilities	599	699	822	842	985	1,078	1,191	1,319	1,415	1,493	1,771	1,757	1,877
	153	166	199	203	221	227	244	247	240	246	262	277	395
CWIP	7	7	0	0	0	0	0	0	0	0	0	0	1
Investments	9	9	9	111	244	330	376	467	521	617	689	703	552
	430	517	613	528	519	521	570	605	654	630	820	777	930
Total Assets	599	699	822	842	985	1,078	1,191	1,319	1,415	1,493	1,771	1,757	1,877

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	64	61	42	12	24	37	41	24	61	34	36	56
ROCE %	14%	20%	25%	28%	26%	26%	23%	24%	23%	21%	23%	25%

Shareholding Pattern

Numbers in percentages

2 Recently

	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
	52.70%	52.70%	52.70%	52.70%	52.70%	52.70%	53.00%	53.00%	53.00%	53.00%	53.00%	53.00%
	8.46%	8.57%	8.62%	8.58%	8.77%	9.34%	9.55%	9.82%	10.15%	9.80%	9.89%	10.05%
	6.98%	7.59%	8.76%	9.62%	10.19%	10.02%	10.39%	10.44%	10.37%	10.97%	10.97%	10.98%
	31.85%	31.12%	29.90%	29.09%	28.33%	27.95%	27.06%	26.74%	26.50%	26.24%	26.15%	25.97%
No. of Shareholders	44,346	42,859	42,625	41,185	38,111	92,445	37,164	36,832	42,654	46,773	43,980	43,116

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Sep 2025
	50.68%	50.69%	50.70%	50.71%	52.62%	52.62%	52.70%	52.70%	53.00%	53.00%
	2.83%	3.75%	4.93%	6.90%	8.35%	7.42%	8.57%	9.34%	9.80%	10.05%
	1.34%	4.18%	3.69%	3.84%	3.53%	5.48%	7.59%	10.02%	10.97%	10.98%
	40.82%	37.06%	36.35%	34.23%	35.50%	34.48%	31.12%	27.95%	26.24%	25.97%
	4.33%	4.33%	4.33%	4.33%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
No. of Shareholders	15,221	16,641	16,535	16,782	30,485	42,928	42,859	92,445	46,773	43,116

* 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.

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