Focusing on innovation is the key to success for Garware-Wall Ropes

Garware-Wall Ropes is one of India’s leading player in the technical textile segment with international presence in more than 75 countries across the globe.

The company, which started as a rope manufacturing company in 1976 in association with America’s Wall Industries Inc, has since diversified into other lines of business.

The company has transformed its core business of fishing and ropes by adding value added high margin products in the segments like coated fabrics, technical textiles in protective agriculture and fish farming. Currently the value added products segment contributes a significant chunk of the business and has been driving the company’s bottom line.

A ‘Star Export House’ for the last seven years, GWRL which earns over 50 percent of its turnover from exports is targeting to become a Rs. 1000 crore company in the next two years.

Mr. Vayu Garware, a third generation entrepreneur, who now holds the reins of the company believes it is the company’s focus on innovation coupled with insistence on robust sales mechanism that has helped GWRL grow its top line consistently even in times of slowdown. The company’s turnover has grown 42% over the last five years ended March 2016 to Rs 825 crore and the stock has appreciated by more than 585% in the past two years.

GWRL is betting big on protected farming and aquaculture to boost the country’s rural economy, thereby benefitting both the farmers and fisherman community. The company has recently forayed into the defence sector and is looking at strengthening its presence in agriculture,geosynthetics and defence segments for the domestic markets.

For the agriculture line of business, the company provides varied solutions for protected agriculture (green houses/ shade houses) and the growth has been enormous in India with more farmers taking to it. The aqua-culture business however is still in an infancy stage in India. However, Aquaculture is a big driver for growth for the company in the United States, Canada, UK and Norway.

The sports segment provides nets for tennis, cricket, golf, soccer, hockey, basket ball, volleyball, badminton etc. Over the years GWRL has become the no. 1 sports net manufacturer in India and has captured more than 25% share in the US sports net market.

GWRL has recently forayed into the defence segment and caters a number of defence textile solutions such as – inflated structures for radars, flexi helipad, and aerostat balloons amongst others. The company is working with defence research organisations in India on products which are currently imported with a view to finally substitute them.