Garware Technical Fibres' Net Sales Rise 3% in Q1 FY25

Garware Technical Fibres Ltd., a leading manufacturer of technical textiles for the Indian and global markets, today announced its unaudited financial results for the quarter ended June 30, 2024.

Consolidated: Q1 FY25 Highlights:

§  Net Sales increased by 3% to Rs. 336.3 Cr in Q1 FY25 as compared to Rs. 325.7 Cr in Q1 FY24

§  Profit before tax increased by 9% to Rs. 62.1 Cr in Q1 FY25 as compared to Rs. 57.1 Cr in the same period last year

§  Net profit after tax has increased by 9% to Rs. 46.8 Cr in Q1 FY25 as against Rs. 43.0 Cr in the corresponding period of FY24.

§  EPS for Q1 FY25 is at Rs. 23.38 this is a growth of 11% over Q1 FY24

Management Comments:

In a statement, Mr. Vayu Garware, CMD, Garware Technical Fibres Ltd. said, “FY25 started well with a good order book especially from Aquaculture business from North Europe and Chile. Our plants have been running at close to full capacity in the last quarter. However, this does not reflect in our Q1 FY25 numbers as a majority of this production has been shipped to Norway and Chile for billing in the second quarter locally. Domestic business has continued its growth in Q1 FY25 and geosynthetics business also has very good visibility for a strong year in FY25.

Q1 FY25 has shown a profit growth of 9% over previous year Q1 FY24. However, overall, we expect a good growth in profit in Q2 FY25 and therefore a strong result in the first half of the year.