Garware Technical Fibres profit rises by 24.7% in Q4 FY19

Share this News:

Pune, May 31, 2019: Garware Technical Fibres Ltd. (Formerly Garware-Wall Ropes Ltd.), a leading manufacturer of technical textiles for the Indian and global markets, announced its financial results for the fourth quarter and financial year ended March 31st, 2019.

Q4FY19 Highlights:

§ Revenue has grown by 23.3% to Rs. 289.5 Cr in Q4FY19 as compared to Rs. 234.8 Cr in Q4FY18

§ Profit after tax grew by 24.7% to Rs. 36.6 Cr in Q4FY19 as compared to Rs. 29.3 Cr in the same quarter last year

§ EPS for Q4FY19 is at Rs. 16.73; this is a growth of 24.7% over Q4FY18

FY19 Highlights:

§ Revenue grew by 14.9% to Rs. 1017.8 Cr in FY19 as against Rs. 885.5 Cr in FY18

§ Profit after tax grew by 19.5% to Rs. 125.6 Cr as compared to Rs.105.1Cr in FY18

§ EPS stood at Rs. 57.4; reflecting a growth of 19.5% over FY18

Management Comments:

Sharing his views on the results, Mr. Vayu Garware, CMD, Garware Technical Fibres Ltd. said, “The year has been an exciting one on many fronts. We have transformed our brand identity and have crossed the milestone of 1000 crores topline. Accelerated execution of better ideas has resulted in improving our ROCE by 160 basis points. Our value added differentiated products are gaining widespread acceptance with our customers and we have a robust pipeline of innovative solutions that have poised us well to deliver on our five year profitable growth trajectory.”