Garware Technical Fibres Ltd.(Formerly Garware-Wall Ropes Ltd.), a leading manufacturer of technical textiles for the Indian and global markets on Thursday has announced its audited financial results for the year ended March 31, 2021
Consolidated: Q4 FY21Highlights:
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Net Sales increased by 32.8% to Rs335.4cr in Q4 FY21 as compared to Rs252.6cr in Q4 FY20
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Net profit after tax has increased by 49.1% to Rs53.2cr in the quarter as against Rs35.7cr in the corresponding period of FY20.
Consolidated: 12MFY21 Highlights:
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Net Sales increased by 8.5% to Rs1034.6cr in 12M FY21 as compared to Rs953.1cr in 12M FY20
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Net profit (PAT) has increased by 12.7%to Rs158.4cr in 12MFY21 as compared to Rs140.5cr in the same period last year.
In a statement, Vayu Garware, CMD,Garware Technical Fibres Ltd. said, "Despite the challenges posed by the Covid-io pandemic in FY21, especially in the first quarter ofthe financial year, our team worked with dedication and drive to deliver a robust performance for the year crossing a significant milestone of Rs200cr Profit Before Tax and Rs150cr Profit After Tax. I must also thank all of our customers in India and around the world for maintaining their faith and trust in us and our solutions.
In Q4, we were able to deliver 33% growth in sales and almost 50% increase in PAT. The international business demand for our solutions remains strong and our execution team was able to meet customer expectations despite the initial challenges in Q1FY21. The domestic market also recovered well and our team was able to deliver a robust growth. Sustained focus on fund generation from operations has also been one of the highlights of F21 performance".
Garware Technical Fibres ended at Rs2,854.65 apiece up by Rs41.5 or 1.48% on Sensex.
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