Garware Technical Fibres Limited Reports Earnings Results for the Fourth Quarter and Full Year Ended March 31, 2023
May 22, 2023 at 07:05 am EDT
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Garware Technical Fibres Limited reported earnings results for the fourth quarter and full year ended March 31, 2023. For the fourth quarter, the company reported sales was INR 3,704.85 million compared to INR 3,563.11 million a year ago. Revenue was INR 3,783.31 million compared to INR 3,611.28 million a year ago. Net income was INR 596.67 million compared to INR 538.91 million a year ago. Basic earnings per share from continuing operations was INR 28.95 compared to INR 26.14 a year ago. Diluted earnings per share from continuing operations was INR 28.95 compared to INR 26.14 a year ago.
For the full year, sales was INR 13,055.49 million compared to INR 11,893.99 million a year ago. Revenue was INR 13,334.53 million compared to INR 12,149.39 million a year ago. Net income was INR 1,722 million compared to INR 1,647.81 million a year ago. Basic earnings per share from continuing operations was INR 83.54 compared to INR 79.92 a year ago. Diluted earnings per share from continuing operations was INR 83.54 compared to INR 79.92 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.
GARWARE TECHNICAL FIBRES LIMITED 
