Garware-Wall Ropes rebrands itself, looks to double profit in

Techincal textiles company Garware-Wall Ropes, which today changed its name to Garware Technical Fibres, is looking to double its profit to over Rs 200 crore in the next five to seven years.

The company had reported a net profit of Rs 105.12 crore during FY18 and posted a revenue of Rs 885.5 crore.

"The next five to seven years will be very important for the company as we are looking to double our profit," said Vayu Garware, chairman and managing director, Garware Technical Fibres.

The rebranding is a part of a focused vision to double profit and be amongst the top two players globally in each of the firm's major operating verticals, a release said.

The company also plans to continue expanding its international presence and business.

Garware Technical Fibres chief executive officer Shujaul Rehman said the company's presence significantly impacts the sustainability of food production with a positive impact on the environment.

"We will continue to grow our value added offering in more than 75 countries and are committed to growing both India and global businesses," he added.

Garware Technical Fibres specialises in providing customised solutions to its customers worldwide in the field of sports, fisheries, aquaculture, shipping, agriculture, coated fabrics and geosynthetics.