Shares of this small-cap company, providing specialized solutions to the cordage and infrastructure industry worldwide surged 4 percent to Rs.3,9255 per share, following the announcement of a board meeting to finalize plans for issuing bonus shares.
Price Variation
In Thursday’s session, Garware Technical Fibres Limited‘s share price jumped 4 percent to a day’s high of Rs.4,050 per share, from the previous close of Rs.3,825.35 apiece, the stock has a 52W high price of Rs. 4,478 per share. It has delivered over 25 percent return in the past year.
What happened
The Board of Directors of Garware Technical Fibres Ltd approved on Thursday, 14th November 2024, to consider and recommend the issuance of bonus shares to the shareholders.
The proposed bonus issue is in the ratio of 4:1, meaning shareholders will receive 4 fully paid-up equity shares of Rs.10 each for every 1 fully paid-up equity share held worth Rs. 10 per share. This will be achieved through the capitalization of the company’s reserves.
Financial Performance
Looking at the company’s financials, Garware Technical Fibres reported a revenue of Rs.405.09 crore for Q2 FY25, marking a 26 percent increase from Rs.320.80 crore in the same quarter last year. However, Profit After Tax (PAT) rose by 34.66 percent to Rs.64 crore, up from Rs.47.53 crore in the previous year’s quarter.
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Global Footprints
Garware Technical Fibres Limited operates in over 75 countries, with a strong international presence and six overseas offices. The company generates approximately 60% of its revenue from exports, focusing on sectors like aquaculture, agriculture, and fisheries. Their global footprint is supported by partnerships and innovative product offerings tailored to diverse markets.
Segmental Revenue
The company generates 81 percent of its total revenue from synthetic cordage with the remaining 19 percent coming from Fibre and Industrial Products and projects as of the September 2024 quarter.
Company Profile
Garware Technical Fibres Limited, established in 1976, is a leading Indian manufacturer of technical textiles, specializing in products such as ropes, nets, and coated fabrics. The company operates in diverse sectors including aquaculture, agriculture, and defense. Its business model focuses on innovation and quality, catering to both domestic and international markets.
Written by – Santhosh S
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