Garware Technical Fibres Ltd. (formerly Garware-Wall Ropes Ltd.), a leading manufacturer of technical textiles for the Indian and global markets has been awarded with ‘The Economic Times Polymers Awards 2019’ for V2 net in OPEN – Marine Application (SME) Category at an award ceremony held at Hotel Sahara Star, Mumbai recently.
The awards were bestowed upon the winners who excelled in the use of plastics in various categories. On behalf of GTFL, Dr. Nikhil Gunari (GM – R&D) and Mr. V B Deshpande (AGM – Operations) were present at the ceremony to receive the award.
S.V. Raut, President – Technical & New Businesses, Garware Technical Fibres Ltd. said, “Our focus has always been to deliver value added differentiated solutions to our customers worldwide. V2 net is a patented, disruptive technology that allows Fish Farmers to save millions of dollars annually in operational costs and has been highly appreciated by our customers globally. This award is a testimony to our innovative mindset and we will steadfastly continue to deliver innovative application focused solutions to enhance value of our customers.”
‘The Economic Times Polymers Awards’ is a platform created to recognize and celebrate the excellence achieved by Indian plastics processing industry across different segments and honors outstanding performance of the industry leaders across categories.
The company has reported on 13 February 2019 the financial results for the quarter and nine months ended 31 December 2018.
Q3 FY19 Highlights
- Net Sales grew by 10.3% to Rs. 222.2 Cr in Q3 FY19 as compared to Rs. 201.5 Cr in Q3 FY19
- Profit before tax grew by 13.2% to Rs. 36.4Cr in Q3FY19 as compared to Rs. 32.2 Cr in the same quarter last year
- Net profit after tax has grown by 14.2% to Rs. 24.7 Cr in the quarter as against Rs.21.6 Cr in the corresponding period of FY18
- EPS for Q3 FY19 is at Rs. 11.29; this is a growth of 14.2 % over Q3 FY18
9M FY19 Highlights:
- Net Sales improved by 11.9% to Rs. 728.3 Cr in 9M FY19 as against Rs. 650.7Cr in 9M FY18
- Profit before tax grew by 17.1% to Rs. 131.3 Cr as compared to Rs. 112.1 Cr in 9M FY18
- Net profit after tax has grown by 17.5% to Rs.89 Cr as against Rs. 75.8 Cr in the corresponding period last year
- EPS for the 9M FY19 is at Rs. 40.68; this is a growth of 17.5 % over 9M FY18
Vayu Garware, CMD, Garware Technical Fibres Ltd. said, “In the third quarter our international and geo-synthetics businesses continued their growth momentum with some strong wins aided by our differentiated solution approach. Recently, we have been granted two patents which have tremendous potential to propel growth in the foreseeable future.”
