Garware Technical Fibres Ltd

₹ 724 0.21%

10 Jul - 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 ₹ 7,190 Cr.
Current Price ₹ 724
High / Low ₹ 970 / 579
Stock P/E 34.4
Book Value ₹ 136
Dividend Yield 1.10 %
ROCE 22.0 %
ROE 16.1 %
Face Value ₹ 10.0

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Pros

Company has reduced debt.
Company is almost debt free.

Cons

The company has delivered a poor sales growth of 8.12% over past five years.
Working capital days have increased from 79.6 days to 147 days

* 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 Consumer Discretionary BSE 1000

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
	370	326	328	289	382	336	421	351	433	367	348	387	426
	291	267	260	236	291	272	329	286	334	299	299	316	330
Operating Profit	80	58	69	53	91	64	91	65	98	68	48	71	96
OPM %	22%	18%	21%	18%	24%	19%	22%	18%	23%	19%	14%	18%	23%
	8	9	10	11	13	11	10	9	9	13	9	18	-6
Interest	3	4	4	3	6	6	6	4	3	3	3	4	3
Depreciation	6	6	6	7	7	7	7	7	7	7	9	9	9
Profit before tax	78	57	68	55	91	62	88	62	97	70	46	75	78
Tax %	24%	25%	23%	21%	23%	25%	25%	23%	27%	25%	30%	25%	27%
	60	43	52	43	70	47	66	48	71	53	32	56	57
EPS in Rs	5.86	4.22	5.15	4.25	6.88	4.71	6.64	4.81	7.16	5.35	3.22	5.68	5.77
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Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	782	825	846	885	1,018	953	1,035	1,189	1,306	1,326	1,540	1,529
	703	722	710	724	826	775	830	966	1,076	1,054	1,221	1,245
Operating Profit	79	103	136	161	192	178	204	223	230	272	319	284
OPM %	10%	13%	16%	18%	19%	19%	20%	19%	18%	21%	21%	19%
	4	6	8	18	21	32	35	25	28	43	38	34
Interest	10	9	7	10	14	12	10	11	12	17	20	14
Depreciation	12	13	14	15	17	19	21	21	22	26	28	34
Profit before tax	61	87	123	153	182	179	208	216	223	272	308	269
Tax %	29%	29%	32%	31%	31%	21%	24%	24%	23%	23%	25%	26%
	43	62	84	105	126	141	158	165	172	210	232	199
EPS in Rs	3.94	5.66	7.71	9.61	11.49	12.85	15.36	15.98	16.90	20.63	23.33	20.01
Dividend Payout %	15%	12%	13%	9%	9%	26%	3%	9%	4%	3%	6%	5%

Compounded Sales Growth
10 Years:	6%
5 Years:	8%
3 Years:	5%
TTM:	-1%

Compounded Profit Growth
10 Years:	13%
5 Years:	6%
3 Years:	7%
TTM:	-10%

Stock Price CAGR
10 Years:	24%
5 Years:	1%
3 Years:	5%
1 Year:	-21%

Return on Equity
10 Years:	19%
5 Years:	18%
3 Years:	18%
Last Year:	16%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	22	22	22	22	22	22	21	21	20	20	99	99
Reserves	289	344	424	515	628	717	790	950	996	1,213	1,142	1,255
	40	45	86	138	108	133	102	80	134	123	65	43
	349	412	309	310	319	319	406	365	343	414	450	482
Total Liabilities	699	822	842	985	1,078	1,191	1,319	1,415	1,493	1,771	1,757	1,879
	166	199	203	221	227	244	247	240	246	262	277	419
CWIP	7	0	0	0	0	0	0	0	0	0	0	1
Investments	9	9	111	244	330	376	467	521	617	689	703	496
	517	613	528	519	521	570	605	654	630	820	777	963
Total Assets	699	822	842	985	1,078	1,191	1,319	1,415	1,493	1,771	1,757	1,879

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	74	143	120	28	133	110	228	64	189	219	195	162
	-25	-37	-147	-53	-78	-47	-120	8	-102	-73	-3	64
	-48	-36	27	29	-56	-37	-135	-38	-85	-39	-331	-152
Net Cash Flow	2	70	1	4	-1	25	-27	34	3	108	-139	73
Free Cash Flow	49	103	102	-5	110	72	205	49	161	177	151	107
CFO/OP	112%	160%	114%	43%	95%	91%	134%	52%	107%	102%	84%	85%

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Debtor Days	85	94	85	90	87	90	85	79	65	72	75	66
Inventory Days	138	145	176	206	186	250	235	234	187	256	227	321
Days Payable	67	186	247	257	215	241	308	220	169	227	221	215
Cash Conversion Cycle	156	53	14	40	58	99	12	93	83	102	81	172
Working Capital Days	61	42	12	24	37	41	24	61	34	36	56	147
ROCE %	20%	25%	28%	26%	26%	23%	24%	23%	21%	23%	25%	22%

Insights

In beta

Mar 2015

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

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Mar 2024

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May 2026

Export Revenue Share
% of total revenue

xx	xx	xx	xx	xx	xx	xx	xx	xx	xx	xx	xx
		xx	xx	xx	xx	xx	xx	xx	xx	xx
			xx.xx	xx.xx	xx.xx	xx.xx	xx.xx	xx.xx	xx.xx	xx.xx
			xx.xx	xx.xx	xx.xx	xx.xx	xx.xx	xx.xx	xx.xx	xx.xx
				x,xxx		x,xxx	x,xxx	x,xxx	x,xxx	x,xxx
							xx	xx	xx	xx	xx
					xx.xx			xx.xx	xx.xx	xx.xx
									xx.xx	xx.xx

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Countries of Operation
count ・Standalone data

Synthetic Cordage Segment Revenue Share
% of total revenue

Value-Added Product Share
% of revenue ・Standalone data

Total Permanent Employees and Workers
count ・Standalone data

Patents Granted (Cumulative)
count ・Standalone data

Netting Product Share
% of turnover ・Standalone data

Energy Intensity
GJ/MT of production ・Standalone data

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
	52.70%	52.70%	52.70%	52.70%	53.00%	53.00%	53.00%	53.00%	53.00%	53.00%	53.36%	53.36%
	8.62%	8.58%	8.77%	9.34%	9.55%	9.82%	10.15%	9.80%	9.89%	10.05%	9.07%	9.12%
	8.76%	9.62%	10.19%	10.02%	10.39%	10.44%	10.37%	10.97%	10.97%	10.98%	10.44%	10.29%
	29.90%	29.09%	28.33%	27.95%	27.06%	26.74%	26.50%	26.24%	26.15%	25.97%	27.14%	27.24%
No. of Shareholders	42,625	41,185	38,111	92,445	37,164	36,832	42,654	46,773	43,980	43,116	41,958	41,415

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	50.68%	50.69%	50.70%	50.71%	52.62%	52.62%	52.70%	52.70%	53.00%	53.36%
	2.83%	3.75%	4.93%	6.90%	8.35%	7.42%	8.57%	9.34%	9.80%	9.12%
	1.34%	4.18%	3.69%	3.84%	3.53%	5.48%	7.59%	10.02%	10.97%	10.29%
	40.82%	37.06%	36.35%	34.23%	35.50%	34.48%	31.12%	27.95%	26.24%	27.24%
	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	41,415

* 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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