One of the small-cap textile stocks engaged in providing specialized solutions to the cordage and infrastructure industry worldwide. The stock has surged to an intraday high of 7.45 percent after the company’s board set a record date for a 4:1 bonus share
Stock Price Movement:
In Thursday’s trading session, Garware Technical Fibres Limited’s share jumped to an intraday high of 7.45 percent from the previous close of Rs. 4,269.05. The stock opened at Rs. 4,346.15 and is currently trading at Rs. 4,468.45, with a high of Rs. 4,587.25 and a low of Rs. 4,339.15. The market capitalization now stands at approximately Rs. 8,873.47 crore.
What Happened:
Garware Technical Fibres Limited has received approval from the National Stock Exchange of India Limited for the issue of 7,94,12,676 fully paid-up bonus equity shares of Rs. 10 each. The shares will be allotted in the ratio of 4 new shares for every 1 existing share held, with the record date set for Friday, January 3, 2025.
Product Offerings
Garware Technical Fibres offers innovative solutions across various sectors, including high-performance cage nets and fishing nets for aquaculture, agricultural nets, and coated fabrics for farming, safety nets and synthetic ropes for industrial use, specialized textile solutions for defense, and sports nets for sporting applications.
Global Presence:
Garware Technical Fibres operates in over 75 countries, with six overseas offices. Generating around 60% of revenue from exports, the company focuses on aquaculture, agriculture, and fisheries, supported by strategic partnerships and innovative products.
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Segmental Revenue
As of the September 2024 quarter, Garware Technical Fibres generates 81% of its total revenue from synthetic cordage, with the remaining 19% coming from fibre, industrial products, and projects.
Recent quarter results and ratios:
Garware Technical Fibres Limited’s revenue has increased from Rs. 328 crore in Q2 FY24 to Rs. 421 crore in Q2 FY25, which has grown by 28.35 percent. The net profit of Garware Technical Fibres Limited has also grown by 26.92 percent, from Rs. 52 crore in Q2 FY24 to Rs. 66 crore in Q2 FY25.
Garware Technical Fibres Limited’s revenue and net profit have grown at a CAGR of 8.61 percent and 10.21 percent, respectively, over the last four years.
In terms of return ratios, the company’s ROCE and ROE should be 23.1 percent and 18.5 percent, respectively. The debt-to-equity ratio of the company is to be 0.13x, which shows the company is almost debt-free. Garware Technical Fibres Limited’s EPS is to be Rs. 112.
Shareholding pattern
In September 2024, Garware Technical Fibres Limited had a majority stake held by the promoters at 53 percent, foreign institutional investors at 9.82 percent, domestic institutional investors at 10.44 percent, and the public at 26.74 percent.
Company Overview:
Garware Technical Fibres was established in 1976 and is a prominent Indian company in the technical textiles sector. It specializes in high-performance polymer ropes, fishing nets, safety nets, aquaculture cages, coated fabrics, and geosynthetics. The company provides solutions for the cordage and infrastructure industries globally.
Written By – Nikhil Naik
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