Garware Technical Fibres Ltd (formerly Garware-Wall Ropes Ltd) was recently granted two patents, which can potentially propel the company’s growth.
According to Vayu Garware, CMD, Garware Technical Fibres Ltd, “Recently, we have been granted two patents which have tremendous potential to propel growth in the foreseeable future.”
Commenting on the financial performance of the company during the third quarter ending December 31, 2018, Garware observed, “In the third quarter our international and geo-synthetics businesses continued their growth momentum with some strong wins aided by our differentiated solution approach.”
Garware Technical Fibres, engaged in the manufacture of technical textiles for the Indian and global markets, recently reported financial results for the quarter and nine months ended December 31, 2018.
Profit before tax grew by 13.2 per cent to Rs.36.40 crore in the third quarter (October to December) of FY19 as compared with Rs.32.20 crore in the same quarter of FY18.
In the first nine months of FY18, net sales improved by 11.9 per cent to Rs. 728.30 crore as against Rs.650.70 crore in the first nine months of FY18. Profit before tax grew by 17.1 per cent to Rs. 131.3 crore, by the same comparison. The company reported a 17.5 per cent growth in net profit after tax to Rs.89 crore as against Rs.75.8 crore in the corresponding period last year.
Garware Technical Fibres Ltd, it may be mentioned, has two manufacturing facilities, located at Wai and Pune (both in Maharashtra). The company also makes products (ropes) that are used in the power transmission industry. (See featured photograph).
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