Garware Technical Fibres profit rises by 24.7% in Q4 FY19

Revenue crosses 1000 crores and PAT grows by 19.5% in FY19

Mumbai, 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 31^st, 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.”

About Garware Technical Fibres Ltd. (Formerly Garware-Wall Ropes Ltd.): (BSE: 509557 / NSE: GARFIBRES)

Garware Technical Fibres Ltd. (formerly Garware-Wall Ropes Ltd.), an ISO 14001:2015 and ISO 9001:2015 certified company is a leading player in Technical Textiles specializing in providing customized solutions to its customers worldwide. Globally, the company is known for its applied innovation in the field of sports, fisheries, aquaculture, shipping, agriculture, coated fabrics and geo-synthetics. The company’s products are manufactured in state-of-art facilities at Wai and Pune and marketed in more than 75 countries.

For more information, please visit http://www.garwarefibres.com