Garware-Wall Ropes PAT Grows By 43.7 % In FY '16

Company Performance

Garware-Wall Ropes PAT Grows By 43.7 % In FY '16

Leading technical textiles manufacturer Garware-Wall Ropes Ltd. (GWRL) has put-up an extraordinary performance during the FY 2015-16. The company announced its financial results recently which outperformed analyst's expectations. PAT of the company grew to Rs. 61.88 crore during the FY2015-16 as against Rs. 43.05 crore in FY 2014-15, with a rise of 43.7%. Net sales for FY 2015-16 stood at Rs. 827.60 crore which was higher by 5.5% over previous fiscal's net sales of Rs. 784.25 crore. Earnings per share (EPS) for FY 16 stood at Rs. 28.28 which is higher by 43.7% compared to FY 15. Vayu Garware, CMD, Garware-Wall Ropes Ltd 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."