Garware Technical Fibres Limited Reports Earnings Results for the Fourth Quarter and Full Year Ended March 31, 2022
May 05, 2022 at 06:18 am EDT
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Garware Technical Fibres Limited reported earnings results for the fourth quarter and full year ended March 31, 2022. For the fourth quarter, the company reported sales was INR 3,563.11 million compared to INR 3,354.22 million a year ago. Revenue was INR 3,611.28 million compared to INR 3,411.09 million a year ago. Net income was INR 538.91 million compared to INR 532.19 million a year ago. Basic earnings per share from continuing operations was INR 26.14 compared to INR 25.08 a year ago. Diluted earnings per share from continuing operations was INR 26.14 compared to INR 25.08 a year ago.
For the full year, sales was INR 11,893.99 million compared to INR 10,345.7 million a year ago. Revenue was INR 12,149.39 million compared to INR 10,692.42 million a year ago. Net income was INR 1,647.81 million compared to INR 1,583.97 million a year ago. Basic earnings per share from continuing operations was INR 79.92 compared to INR 74.64 a year ago. Diluted earnings per share from continuing operations was INR 79.92 compared to INR 74.64 a year ago.
Garware Technical Fibres Limited is an India-based multi-divisional, multi-geographical technical textiles company. The Company's solutions include aquaculture, fisheries, agriculture, coated fabrics, shipping and offshore, defense and government sector, sports, geo-synthetics, industrial, material handling, safety, and yarn and threads. The Company's business segments include Synthetic Cordage, and Fibre and Industrial Products and Projects. The Synthetic Cordage segment comprises of ropes, twines and nettings made of twine. The Fibre and Industrial Products and Projects segment comprises of fibre, synthetic fabric, yarn, woven and non-woven textiles, secugrids, coated steel gabions, machinery and project. Its products are manufactured in facilities at Wai and Pune in Maharashtra, India, and are marketed in more than 75 countries worldwide. Its subsidiaries include Garware Environmental Services Pvt. Ltd., Garware Technical Fibres Chile SPA and Garware Technical Fibres USA Inc.