 "Garware-Wall Ropes hits record high on strong Q2 results")
Garware-Wall Ropes has moved to its record high of Rs 588, up 7% on BSE, extending its Tuesday’s 6% surge, after reporting a strong 69% year on year (YoY) growth in net profit at Rs 26 crore for the quarter ended September 30, 2016 (Q2FY17). A leading manufacturer of technical textiles had posted a profit of Rs 15.4 crore in the same quarter last fiscal.
Net sales grew by 8.4% to Rs 232 crore in Q2FY17 as compared to Rs 214 crore in Q2FY16.
The company expects that the demand for its application centric products will continue to be robust for the rest of the year.
“We have seen healthy growths in our fisheries and aquaculture businesses. Importantly, our value added products have led this growth across business segments,” said Vayu Garware, CMD, Garware-Wall Ropes.
The company is a leading player in technical textiles, specializing in providing customized solutions to the cordage and infrastructure industry worldwide. The company is a global player and known for its innovation in the field of fisheries, aquaculture, shipping, sports, agriculture, coated fabrics and geosynthetics.
At 11:43 am, the stock was up 6% at Rs 582 on BSE, against 0.71% rise in S&P BSE Sensex. A combined 28,553 shares changed hands on the counter on BSE and NSE so far.
Net sales grew by 8.4% to Rs 232 crore in Q2FY17 as compared to Rs 214 crore in Q2FY16.
The company expects that the demand for its application centric products will continue to be robust for the rest of the year.
“We have seen healthy growths in our fisheries and aquaculture businesses. Importantly, our value added products have led this growth across business segments,” said Vayu Garware, CMD, Garware-Wall Ropes.
The company is a leading player in technical textiles, specializing in providing customized solutions to the cordage and infrastructure industry worldwide. The company is a global player and known for its innovation in the field of fisheries, aquaculture, shipping, sports, agriculture, coated fabrics and geosynthetics.
At 11:43 am, the stock was up 6% at Rs 582 on BSE, against 0.71% rise in S&P BSE Sensex. A combined 28,553 shares changed hands on the counter on BSE and NSE so far.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%