Garvare Technical Fibres Ltd., Q1 FY24 results

18 August 2023, Mumbai

Garware Technical Fibres Ltd. reports strong Q1 FY24 results

• Net sales up 7% to Rs. 325.7 crore
• Pre-tax profit up 54% to Rs. 57.1 crore
• Post-tax profit up 52% to Rs. 43.0 crore
• EPS is up 54% to Rs. 21.08

Management commentary:

• FY24 has started off well and is on track with the strategic plan.
• Pre-tax profit margins have rebounded to 17%+ levels.
• The aquaculture business remains strong, especially in Chile.
• Geo-synthetics business continues to grow and deliver strong profitability.
• Domestic businesses also perform well.
• Management expects a good FY24.

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