Garware-Wall Ropes PAT grows by 43.7 % in FY16

Garware-Wall Ropes Ltd. (GWRL), 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, 2016.

Sales revenue was Rs. 188.38 crore in Q4FY16 as compared to Rs. 196.9 crore in Q4FY15. Profit before tax grew by 43.4% to Rs.24.25 crore in Q4FY16 as compared to Rs.16.91 crore in the same quarter last year. Net profit after tax has grown by 41.0% to Rs. 17.28 crore in the quarter as against Rs. 12.26 crore in the corresponding period of FY15. EPS for Q4FY16 is at Rs. 7.90; this is a growth of 41.0% over Q4FY15
Net Sales improved by 5.5 % to Rs. 827.60 crore in FY16 as against Rs. 784.25 crore in FY15. Profit before tax grew by 43.8% to Rs.87.04 crore as compared to Rs.60.51 crore in FY15. Net profit after tax has grown by 43.7% to Rs 61.88 crore as against Rs. 43.05 crore in FY15. EPS for the FY16 is at Rs. 28.28; this is a growth of 43.7% over FY15

Vayu Garware, CMD, Garware-Wall Ropes said “Good growths in domestic business as well as increased sales of value added products in international markets aided in positing a robust financial performance. With our unwavering commitment on Innovation, Geographic Expansion and Operational Excellence, we are well positioned in FY 2017 to improve our revenue growth and profitability”

For more information
www.garwareropes.com