Garware Technical Fibres Ltd
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.
Strengths
- +Company is almost debt free.
Weaknesses
- −The company has delivered a poor sales growth of 9.41% over past five years.
- −Dividend payout has been low at 4.84% of profits over last 3 years
Shareholding Pattern
| Category | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Promoters | 53% | 53% | 53% | 53% | 53% | 53% | 53.36%▲0.4 | 53.36% |
| FIIs | 9.55% | 9.82%▲0.3 | 10.15%▲0.3 | 9.8%▼0.3 | 9.89%▲0.1 | 10.05%▲0.2 | 9.07%▼1.0 | 9.12%▲0.0 |
| DIIs | 10.39% | 10.44%▲0.0 | 10.37%▼0.1 | 10.97%▲0.6 | 10.97% | 10.98%▲0.0 | 10.44%▼0.5 | 10.29%▼0.2 |
| Public | 27.06% | 26.74%▼0.3 | 26.5%▼0.2 | 26.24%▼0.3 | 26.15%▼0.1 | 25.97%▼0.2 | 27.14%▲1.2 | 27.24%▲0.1 |
Financial Statements
| Metric | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 321 | 268 | 371 | 356 | 405 | 353 | 375 | 348 | 360 | 340 |
| Expenses | 258 | 223 | 280 | 282 | 316 | 295 | 300 | 279 | 298 | 272 |
| Operating Profit | 63 | 45 | 91 | 74 | 89 | 58 | 75 | 69 | 62 | 68 |
| OPM % | 20% | 17% | 25% | 21% | 22% | 16% | 20% | 20% | 17% | 20% |
| Net Profit | 48 | 36 | 70 | 56 | 64 | 42 | 51 | 55 | 47 | 54 |
| EPS ₹ | 4.66 | 3.51 | 6.84 | 5.68 | 6.45 | 4.27 | 5.17 | 5.56 | 4.77 | 5.44 |
AI Insights
TTM revenue at ₹1,422Cr, down 4% YoY. OPM at 19%.
Borrowings at ₹111Cr. Debt-to-equity ratio: 0.09x. Healthy balance sheet.
DIIs: 10.29% (+1.53pp change). FIIs: 9.12% (+0.50pp change). Promoters hold 53.36%.
ROCE improving from 14% (Mar 2014) to 23% (Mar 2025). Working capital days: 51.
PE 30.7x with 23.1% ROCE. Price is 394% above book value of ₹130. Dividend yield: 1.25%.
Recent Announcements
- Announcement under Regulation 30 (LODR)-Change in Management 2d - Mr. Sanjay Charati, President & Head-R&D, ceased on May 5, 2026 due to superannuation.
- Board Meeting Intimation for Considering, Approving And Taking On Record The Standalone & Consolidated Audited Financial Results For The Quarter And Year Ended 31St March, 2026, And To Consider And Recommend Final Dividend, If Any, For The Financial Year 2025-26. 13 May - Board meets on 20 May 2026 to approve FY26 audited results and consider final dividend.
- Announcement under Regulation 30 (LODR)-Newspaper Publication 12 May - Copy of a public announcement dated May 11, 2026 for the Buyback published on May 12, 2026 in the newspapers mentioned in the attached file.
- Announcement under Regulation 30 (LODR)-Public Announcement-Buyback of Shares 12 May - Garware Technical Fibres announced buyback of up to 16,17,500 shares at Rs 680; record date May 20, 2026.
- Certified True Copy Of Board Resolution 11 May - Board approved buyback of up to 16.18 lakh shares at Rs 680, record date May 20, 2026.
- Financial Year 2025 from bse
- Financial Year 2024 from bse
- Financial Year 2023 from bse