Garware Technical Fibres net profit after
tax increases by 49.1% in Q4 FY21
Pune,
May 30, 2021: Garware Technical Fibres Ltd. (Formerly
Garware-Wall Ropes Ltd.), a leading manufacturer of technical textiles for the
Indian and global markets, today announced its audited financial results for
the year ended March 31, 2021.
Consolidated:
Q4 FY21 Highlights:
- Net
Sales increased by 32.8% to Rs. 4 Cr in Q4 FY21 as compared to
Rs. 252.6 Cr in
Q4 FY20
- Net
profit after tax has increased by 49.1% to Rs. 53.2 Cr in the quarter as against
Rs. 35.7 Cr in the corresponding period of FY20.
Consolidated:
12M FY21 Highlights:
- Net
Sales increased by 8.5% to Rs. 1034.6 Cr in 12M FY21 as compared to Rs.
953.1 Cr in 12M FY2o
- Net
profit (PAT) has increased by 12.7% to Rs. 158.4 Cr in 12M FY21 as
compared to Rs. 140.5 Cr in the same period last year
Management
Comments:
In a
statement, Mr.
Vayu Garware, CMD, Garware Technical Fibres Ltd. said,
"Despite the challenges posed by the Covid-19 pandemic in FY21, especially
in the first quarter of the financial year, our team worked with dedication and
drive to deliver a robust performance for the year crossing a significant
milestone of Rs. 2oocr Profit
Before Tax and Rs. isocr 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".
About
Garware Technical Fibres Ltd. (Formerly Garware-Wall Ropes Ltd.): (BSE: 509557
/ NSE: GARFIBRES)
Garware
Technical Fibres Ltd. (formerly Garware-Wall Ropes Ltd.), an ISO 14001:2015 and
ISO 9001:2015 certified company is a leading player in Technical Textiles
specializing in providing customized solutions to its customers worldwide.
Globally, the company is known for its applied innovation in the field of
sports, fisheries, aquaculture, shipping, agriculture, coated fabrics and geosynthetics.
The company's products are manufactured in state-of-art facilities at Wai and
Pune and marketed in more than 75 countries.
For more
information, please visit http://www.garwarefibres.com
No comments:
Post a Comment