Garware Technical Fibres Ltd. share price target

Emerging from the impact of persistent lockdowns, Garware Technical Fibres continued with its steady growth trajectory led by robust demand in international business and uptick in the international sports sector. The company reported a decent topline growth of 10.7% to Rs. 308.13 crs (yearover-year) in Q3FY22. Sequentially, the uptick was some 9.3%. The synthetic cordage segment, accounting for almost 90% of the mix, grew by 16.1% to Rs. 277.22 crs year-over-year,...

The global technical textile market was valued at $176.83 bn in 2018 and is projected to reach $220.37 bn by 2022, growing at a CAGR of 5.9% during 2018 to 2022 (source KPMG, FICCI). The development of technical textiles industry has been given prime importance by the governments of various countries globally. Various initiatives have been taken to establish research organizations with the objective of bolstering and promoting research in this segment. Asia Pacific is expected to continue its dominance in the technical textiles market, and iss expected to grow at CAGR of 5.6% to 5.8%...

Increasing awareness about superior functionality of technical textiles and rising demand for quality is expected to drive 20% growth (yoy) in Indian technical textile industry - current market size of ~Rs 1160 bn according to Kavita Gupta, Textile Commissioner, GOI. To tap the growth opportunity of this industry, the government has implemented...

Garware Wall Ropes Ltd's (GWRL) Q4FY18 net revenue growth of 11.8% YoY was on expected lines, however, the company surprised positively on the profit front with a strong operating profit & PAT growth of 26.7% & 51.6% YoY respectively. Led by higher gross margins and a sharp decline in the employee cost, the EBITDA margins expanded by 227bps YoY to 19.4%, which was encouraging.

Garware Wall Ropes Ltd (GWRL) reported largely in-line numbers for Q3FY18 with net revenue and PAT growth of 4.4% & 15.1% YoY respectively. EBITDA margin expansion of 203bps YoY (at 17.2%), aided by higher gross margins, was encouraging.

itute a large part of its demand, increasing industrialization in emerging economies and initiatives taken by the GOI in attracting investments in technical textiles are driving the growth of the overall market. According to FICCI, the largest and oldest apex pex business organization of India, the per capita consumption of technical...

Garware Wall Ropes Ltd (GWRL) reported subdued numbers for Q2FY18 with 8.8% YoY decline in net revenue and marginal growth of 6.9% in PAT. However, EBITDA margin expansion of 332bps YoY was encouraging.

Garware Wall Ropes Ltd (GWRL) reported impressive numbers for Q1FY18 with net revenue and PAT growth of 11.8% & 31.2% YoY respectively. EBITDA margin gains of 127bps YoY (15.3%) was encouraging.

For 3QFY2017 Garware Wall Ropes (GWRL) posted results which outperformed our estimates on the bottom-line front, while the top-line was in-line with our estimates. On the operating front, the company reported margin improvement, primarily on account of lower other expenditures. Further, on the bottom-line front, the company reported stron..

After two straight quarters of de-growth, Garware Wall Ropes (GWRL's) revenues grew by 8.4% YoY to Rs 233cr, led by domestic fisheries and aquaculture business. Profit growth was much better than our estimates. EBITDA grew by 50.8% YoY, while EBITDA margins improved by 483 bps YoY to 17.2%, aided by lower input cost, higher contribution from value added products and cost rationalization.

Going ahead, we expect GWRL to report a healthy topline in anticipation of strong domestic as well as export sales. On the domestic front, we expect demand to pick up with an expected growth in the agriculture and fisheries segments in the country. Further, we expect the company to continue reporting strong numbers on back of higher deman..

Garware Wall Ropes Ltd manufactures various range of products like ropes, nets and aquaculture cages for capturing and breeding fish; nets for sports such as tennis, cricket; insect, shade nets for agriculture; ropes and safety nets for shipping and industrial; coated fabrics for covers, tents, etc and provides geosynthetic solutions for water & waste management and erosion-control applications.

Garware Wall Ropes (GWRL)' 4QFY2016 results outperformed our estimates on the bottom-line front. The company's top-line for the quarter de-grew by ~4% yoy. On the operating front, the company reported margin improvement, primarily on account of lower raw material costs. Further, on the bottom-line front, the company reported strong growth..

Garware - Wall Ropes (GWWR) was established in 1976 in collaboration with M/s Wall Industries Inc. USA. The company is noted amongst pioneers in the synthetic cordage industry in...