Garware Technical Fibres consolidated net profit before

Bengaluru , May 28, 2024: Garware Technical Fibres Ltd., a number one producer of technical textiles for the Indian and world markets, introduced its audited monetary outcomes for the quarter and yr ended March 31, 2024.

Consolidated: This autumn FY24 Highlights:

Net Sales elevated by 3% to Rs. 382.3 Cr in Q4FY24 as in comparison with Rs. 370.5 Cr in Q4FY23
Profit before tax elevated by 17% to Rs. 91.5 Cr in Q4FY24 as in comparison with Rs. 78.5 Cr in the identical interval final yr
Net profit after tax has elevated by 16% to Rs. 69.5 Cr in This autumn FY24 as in opposition to Rs. 59.7 Cr within the corresponding interval of FY23
EPS for This autumn FY24 is at Rs. 34.1 it is a progress of 17.4% over This autumn FY23

Consolidated: 12M FY24 Highlights:

Net Sales elevated by 2% to Rs. 1325.6 Cr in FY24 as in comparison with Rs. 1305.6 Cr in FY23
Profit before tax elevated by 22% to Rs. 271.7 Cr in FY24 as in comparison with Rs. 223.2 Cr in the identical interval final yr
Net profit after tax has elevated by 21% to Rs. 208.2 Cr in FY24 as in opposition to Rs. 172.2 Cr within the corresponding interval of FY23
EPS for 12M FY24 is at Rs. 102.2 it is a progress of twenty-two% over 12M FY23

Management Comments:
In a press release, Mr. Vayu Garware, CMD, Garware Technical Fibres Ltd. stated, “This autumn FY 24 has proven a profit progress of 17% over earlier Q4FY23 on account of sturdy demand from Norway and northern Europe. Operating margins improved by 200 foundation factors over earlier yr This autumn on the again of additional improved product combine and powerful demand for worth added options.

In FY24 the Company was in a position to cross a milestone of Rs 200cr PAT and EPS crossing Rs. 100/-. Growth in FY24 was fuelled by Aquaculture, Geosynthetics and from the home enterprise. Net profit before tax will increase by 22% in FY24. Sustained concentrate on fund technology from operations delivered a robust free money move for the yr.

We look ahead for a robust H1FY25 on account of continuous good demand in Aquaculture section from Chile & Norway for our newer options. Geosynthetics enterprise additionally is predicted to proceed its progress momentum with good visibility.