Garware Technical Fibres net profit swells by 40.5% in Q2 FY20

-
by Samiksha 
Mumbai, November , 2019: Garware Technical Fibres Ltd. (Formerly Garware-Wall Ropes Ltd.), a leading manufacturer of technical textiles for the Indian and global markets, today announced its financial results for the second quarter and half year ended September 30, 2019.
Q2 FY20 Highlights:
▪ Net Sales declined by 11.2% to Rs. 232.42 Cr in Q2 FY20 as compared to Rs. 261.83 Cr in Q2 FY19
▪ Profit before tax reduced by 10.6% to Rs. 43.54 Cr in Q2 FY20 as compared to Rs. 48.69 Cr in the same quarter last year
▪ Net profit after tax has grown by 40.5% to Rs. 46.26 Cr in the quarter as against Rs. 32.93 Cr in the corresponding period of FY19
▪ EPS for Q2 FY20 is at Rs. 21.14; this is a growth of 40.5 % over Q2 FY19
H1FY20 Highlights:
▪ Net Sales decreased by 8.2% to Rs. 464.75 Cr in H1FY20 as compared to Rs. 506.09 Cr in H1FY19
▪ Profit before tax decreased by 9.6% to Rs. 85.74 Cr in H1FY20 as compared to Rs. 94.84 Cr in the same period last year
▪ Net profit (PAT) has increased by 18% to Rs. 75.86 Cr in the period as against Rs. 64.30 Cr in the corresponding period of FY19
▪ EPS for the period is at Rs. 34.67 in H1FY20; this is a rise of 18% over H1FY19
Management Comments:Commenting on the results, Mr. Vayu Garware, CMD, Garware Technical Fibres Ltd. said, “The first half results have been a mixed bag. On the domestic front, the cyclones as well as the extended rains affected our growth in the fisheries segment. In our international business, we have had some delays in receipt of substantial orders as many of the aquaculture customers gauged our new innovative V2 technology offerings before placing their requirements. However we now have good visibility for the second half of the year and will look towards an improved year end result. On the plus side, we have had good working capital management in the first half, resulting in higher fund generation from operations.”
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.

Comments

Post a Comment

Popular posts from this blog

Are ‘Unseen Forces’ Really Driving Political Vendetta Against Darwin Platform Chief Ajay Harinath Singh?

-
Image
by samikha   Mumbai, May, 2024: The scion of Lord Shri Ram's lineage, Darwin Platform Group of Companies (DGPC) Founder and Chairman Ajay Harinath Singh has found himself targeted by unseen forces with vested interests. Retaliating to these ‘unseen forces’ the Darwin Platform Chief emphasized that life threats and malicious campaigns, resulting from political vendetta make him more determined to fight the battle and expose them.  The whispers of a conspiracy began years ago, fueled by jealousy and fear of his growing influence in the 2000s. Coming from a Royal family of Sultanpur (Uttar Pradesh), his popularity in the state and Maharashtra unnerved many political parties that used to govern. Aligned with sacred lineage, his passion for nation-building and Hindutva made him popular among people and the BJP, however, this antagonized Congress and their current allies. Questions are many- Was the Congress party, in its bid to maintain its hold on power, orchestrating a campaign t...
Read more

Dell Technologies Reimagines Work with New PCs, Monitors and Software Experiences

-
Image
     by Samiksha   ·         Work smarter than ever before with the industry’s most intelligent [i] , secure [ii]  and sustainable [iii]  business PCs ·          5G-capable PCs and Microsoft Teams certified displays unlock enhanced connectivity and collaboration ·          Dell elevates sustainability standards with first commercial  PCs to use bioplastics from tree waste ·         Built-in low blue light and security technology enhance and secure the customer experience Bangalore, India -January, 2021;   Dell Technologies (NYSE:DELL) unveiled new products and software that reimagine work so anyone can perform at their best. With a new portfolio of intelligent, collaborative and sustainable devices, Dell is transforming work experiences to give people greater flexibility to work from anywhere. “Peopl...
Read more

‘Dennkur’ The World’s First Curcumin Pastille For Oral Health Care Launched

-
Image
The World’s First Curcumin Pastille For Oral Health Care Launched In Mumbai   Mumbai, March 07:  For the first time in the field of dentistry, Curcumin – a concentrated extract of turmeric with its excellent therapeutic effects has made its way as a pastille for preventive oral health care. This first of its kind pastille christened ‘Dennkur’ was launched in Mumbai yesterday and will be available with dentists across the country. The product has been introduced by Denteks, leading experts in dental technology of which Dr. Nirupam K Doctor and Dr. Lalit K Chokhani launched the breakthrough product in the presence of several eminent doctors and researchers. The 100 per cent ayurvedic and sugar-free medicine is backed by clinical and social trials and has proved to be highly effective in preventive and therapeutic applications in a variety of oral diseases including bleeding gums, receding gums, gingivitis, and periodontitis, among others. “...
Read more