 "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.