Garware Wall Ropes eyes Rs 1000 crore business by 2017

Also aims at Rs 100 crore sales every year from defence sector

Pune based fishing and sports net and technical textiles manufacturer Garware Wall Ropes eyes Rs 1,000-crore revenue by 2017, mainly driven by growing demand in the geosynthetics, aquaculture and agriculture segment. Garware-Wall Ropes revenue for 2013-14, stood at Rs 785 crore, of which 55% is from exports and 45% from domestic market. The company is also aiming at Rs 100 crore business every year from defence sector in the next five years.

"The increasing demand for sectors like agriculture, genosynthetics and fisheries in the country will drive our growth and expect the growth to continue.These two segments will help enhance our revenue and help us reach Rs 1,000 crore target by 2017. The demand for aquaculture products is also growing rapidly. Currently, we are exporting to 75 countries world wide and is one of the top five manufacturer of fishing net in the world," said Shujaul Rehman, president and chief operating officer, Garware Wall Ropes.

 

The company mainly supplies nets to the Indian Navy, Oil and Natural Gas Commission, Coast Guard, Indian Oil Corporation and other government organisations. It supplies sports nets to markets in the US, Canada, Europe, and Africa. The product range includes tennis, football, volleyball, handball, hockey, baseball and cricket. These nets are being used in most of professional leagues and tournaments worldwide, including the English Premier League, American Baseball League and the Irish Football League.

For agriculture, it manufactures farmer friendly products like anti bird net, insect net, shade net, crop support net, sericulture net, anti hail net, floriculture net and grape net. The company has has two manufacturing units in Wai and Pune in Maharashtra.

Rehman added, "We are developing products for the defence, which we expect will help in replace those being imported from Europe. The company is in the process of entering the defence sector and developing products like high altitude clothing and materials, radone, aerostat balloon, camouflage nets among others. we estimate our revenue from defense related business to be Rs 100 crore per year."

Garware-Wall Ropes revenue for 2014-15, stood at Rs 785 crore, of which 55% is from exports and 45% from domestic market.

In the year 2010, the company has got a major breakthrough by supplying fishing net of 47,000 kg to Osterbris fishing vessel in Norway. Osterbris is worlds on of the biggest fishing vessel of 8000 horse power, fishing vessel is 12 meter in width and 68 meter long and is the largest high tech fishing vessel in the world.