Q4FY19 results: Garware Technical Fibres PAT rises 24.7%, revenue grows 23.3 pct
On account of revenue growth of 23.3 per cent to Rs 289.5 crore in Q4FY19, the Garware Technical Fibres Ltd logged 24.7 per cent PAT growth compared to Q4FY18.
On account of revenue growth of 23.3 per cent to Rs 289.5 crore in Q4FY19, the Garware Technical Fibres Ltd (Formerly Garware-Wall Ropes Ltd.), a leading manufacturer of technical textiles for the Indian and global markets, announced its financial results for the fourth quarter and financial year ended March 31st, 2019 declaring profit after tax (PAT) of 24.7 per cent in comparison to the same quarter in corresponding year.
Sharing his views on the results, Vayu Garware, CMD, Garware Technical Fibres Ltd. said, “The year has been an exciting one on many fronts. We have transformed our brand identity and have crossed the milestone of 1000 crores topline. Accelerated execution of better ideas has resulted in improving our ROCE by 160 basis points. Our value-added differentiated products are gaining widespread acceptance with our customers and we have a robust pipeline of innovative solutions that have poised us well to deliver on our five-year profitable growth trajectory.”
Key highlights of the Garware Technical Fibres Ltd in Q4FY19 are as follows:
1] Revenue has grown by 23.3% to Rs 289.5 Cr in Q4FY19 as compared to Rs 234.8 Cr in Q4FY18;
2] Profit after tax grew by 24.7% to Rs 36.6 Cr in Q4FY19 as compared to Rs 29.3 Cr in the same quarter last year; and
3] EPS for Q4FY19 is at Rs 16.73; this is a growth of 24.7% over Q4FY18.
The leading manufacturer of technical textiles for the Indian and global markets also announced its achievements into the FY19.
Here are the key highlights of FY19 of the company:
1] Revenue grew by 14.9% to Rs 1017.8 Cr in FY19 as against Rs 885.5 Cr in FY18;
2] PAT grew by 19.5% to Rs 125.6 Cr as compared to Rs 105.1Cr in FY18; and
3] EPS stood at Rs 57.4; reflecting a growth of 19.5% over FY18.