MarketFriction

Garware Technical Fibres Ltd

NSE GARFIBRES · BSE 509557 · Other Textile Products
₹768.40 -0.32%
NSE close2026-10-01
52 week range579.75 - 863.40
Market cap₹7,361 Cr.
P/E33.4
Price band 20% Delivery 43.5%

Price

Drag to pan, scroll or pinch to zoom. Ruler (or Shift + drag) measures a move.Dashed lines: 52 week high and low. Prices adjusted for splits and bonuses.

Financials

Consolidated, Rs crore
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales328289382336421351433367348387426482
Expenses260236291272329286334299299316330392
Operating Profit695391649165986848719690
OPM %21%18%24%19%22%18%23%19%14%18%23%19%
Other Income10111311109913918-69
Interest436664333433
Depreciation677777779999
Profit before tax685591628862977046757886
Tax %23%21%23%25%25%23%27%25%30%25%27%25%
Net Profit524370476648715332565765
EPS in Rs5.154.256.884.716.644.817.165.353.225.685.776.62
Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales8258468851,0189531,0351,1891,3061,3261,5401,5291,644
Expenses7227107248267758309661,0761,0541,2341,2621,338
Operating Profit103136161192178204223230272306267306
OPM %13%16%18%19%19%20%19%18%21%20%17%19%
Other Income6818213235252843515130
Interest9710141210111217201414
Depreciation131415171921212226283436
Profit before tax87123153182179208216223272308269285
Tax %29%32%31%31%21%24%24%23%23%25%26%
Net Profit6284105126141158165172210232199210
EPS in Rs5.667.719.6111.4912.8515.3615.9816.9020.6323.3320.0121.29
Dividend Payout %12%13%9%9%26%3%9%4%3%6%5%
10 Years5 Years3 YearsTTM1 YearLast Year
Compounded Sales Growth6%8%5%5%
Compounded Profit Growth13%6%7%-7%
Stock Price CAGR22%3%6%1%
Return on Equity19%18%18%16%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital222222222222212120209999
Reserves2893444245156287177909509961,2131,1421,255
Borrowings404586138108133102801341236543
Other Liabilities349412309310319319406365343414450481
Total Liabilities6998228429851,0781,1911,3191,4151,4931,7711,7571,879
Fixed Assets166199203221227244247240246262277419
CWIP700000000001
Investments99111244330376467521617689703496
Other Assets517613528519521570605654630820777963
Total Assets6998228429851,0781,1911,3191,4151,4931,7711,7571,879
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity741431202813311022864189219196162
Cash from Investing Activity-25-37-147-53-78-47-1208-102-731068
Cash from Financing Activity-48-362729-56-37-135-38-85-39-332-152
Net Cash Flow27014-125-27343108-12578
Free Cash Flow49103102-51107220549161177152107
CFO/OP112%160%114%43%95%91%134%52%107%102%88%90%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days859485908790857965727566
Inventory Days138145176206186250235234187256227321
Days Payable67186247257215241308220169227216215
Cash Conversion Cycle156531440589912938310286172
Working Capital Days614212243741246134365680
ROCE %20%25%28%26%26%23%24%23%21%23%25%22%
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters52.70%52.70%52.70%53.00%53.00%53.00%53.00%53.00%53.00%53.36%53.36%54.25%
FIIs8.58%8.77%9.34%9.55%9.82%10.15%9.80%9.89%10.05%9.07%9.12%8.67%
DIIs9.62%10.19%10.02%10.39%10.44%10.37%10.97%10.97%10.98%10.44%10.29%10.11%
Public29.09%28.33%27.95%27.06%26.74%26.50%26.24%26.15%25.97%27.14%27.24%26.98%
No. of Shareholders41,18538,11192,44537,16436,83242,65446,77343,98043,11641,95841,41539,254

Fundamentals

Market Cap₹ 7,361 Cr.
Current Price₹ 754
Stock P/E33.4
Book Value₹ 136
ROCE22.0 %
ROE16.1 %
Dividend Yield1.19 %
Face Value₹ 10.0
Compounded Sales Growth (TTM)5%
Compounded Profit Growth (TTM)-7%
Consolidated figures.
Valuation
Market capRs 7,628 Cr
Enterprise valueRs 7,531 Cr
P/E (TTM)36.29x
Price to book5.63x
Price to sales4.64x
EV / EBITDA22.45x
EV / EBIT25.18x
EV / sales4.58x
Price to cash flow47.06x
Earnings yield2.76%
Dividend yield0.13%
P/E, 3-year average24.60x
P/B, 3-year average4.15x
P/E, 5-year average17.55x
P/B, 5-year average2.96x
Profitability
Operating margin (excl. other income)17.45%
Operating margin (incl. other income)20.76%
EBITDA margin20.41%
Pre-tax margin17.36%
Net profit margin12.79%
Net margin, latest quarter13.39%
ROE15.31%
ROCE20.93%
ROA10.93%
ROE, 3-year average17.57%
ROCE, 3-year average22.88%
ROA, 3-year average12.31%
ROE, 5-year average17.71%
ROCE, 5-year average22.63%
ROA, 5-year average12.17%
ROIC (approx.)17.52%
Tax rate26.34%
Other income / net worth3.74%
Growth
Sales growth (latest year)-0.73%
Profit growth (latest year)-14.20%
Sales CAGR, 3 years5.40%
Sales CAGR, 5 years8.12%
Profit CAGR, 3 years4.88%
Profit CAGR, 5 years4.63%
Sales growth QoQ13.12%
Profit growth QoQ12.82%
Sales growth YoY (latest quarter)31.35%
Profit growth YoY (latest quarter)21.68%
Per share
EPS (TTM)Rs 21.17
EPS (latest year)Rs 20.01
EPS (latest quarter)Rs 6.51
EPS, 3-year averageRs 48.84
EPS, 5-year averageRs 62.19
Book value per shareRs 136.44
Sales per shareRs 165.61
Cash flow per shareRs 16.33
Free cash flow per shareRs 10.78
Dividend per share (latest year)Rs 1.00
Dividend per share, 3-year averageRs 1.83
Dividend per share, 5-year averageRs 3.20
Dividends
Dividend payout5.00%
Dividend payout, 3-year average4.78%
Dividend payout, 5-year average5.45%
Efficiency
Asset turnover0.81x
Fixed asset turnover3.64x
Inventory turnover2.06x
Inventory days177 days
Debtor days66 days
Debtors turnover5.53x
Creditor days215 days
Cash conversion cycle172 days
Working capital days80 days
Leverage
Total debtRs 43 Cr
Cash and bankRs 140 Cr
Net debtRs -97 Cr
Debt to equity0.03x
Net debt / EBITDA-0.29x
Interest coverage21.78x
Current ratio (filing 2026-03-31)2.74x
Quick ratio (filing 2026-03-31)1.82x
Trade payables (filing 2026-03-31)Rs 267 Cr
Owners' fund to total sources72.09%
Debt to assets2.28%
Cash flow
Cash from Operating Activity (latest year)Rs 162 Cr
Cash from Investing Activity (latest year)Rs 68 Cr
Cash from Financing Activity (latest year)Rs -152 Cr
Net Cash Flow (latest year)Rs 78 Cr
Free cash flow (latest year)Rs 107 Cr
FCFE (approx.: FCF + change in debt)Rs 85 Cr
Cash from ops / profit, 5 years0.85x
Sales to cash flow9.43x
Statement figures
Net sales (TTM)Rs 1,644 Cr
Net sales (latest year)Rs 1,529 Cr
Sales (latest quarter)Rs 482 Cr
Operating profit excl. other income (latest year)Rs 267 Cr
Operating profit (latest quarter)Rs 90 Cr
Other income (TTM)Rs 30 Cr
EBITDA (TTM)Rs 335 Cr
PBDT (TTM)Rs 322 Cr
Profit before tax (TTM)Rs 285 Cr
Tax (latest year)Rs 71 Cr
Net profit (TTM)Rs 210 Cr
Net profit (latest year)Rs 199 Cr
Net profit (latest quarter)Rs 65 Cr
Depreciation (TTM)Rs 36 Cr
Depreciation (latest quarter)Rs 9 Cr
Interest (TTM)Rs 14 Cr
Cost of goods sold (latest year)Rs 822 Cr
Total expenditure (latest year)Rs 1,262 Cr
Total income (latest year)Rs 1,579 Cr
Share capitalRs 99 Cr
ReservesRs 1,255 Cr
Shareholders' fundsRs 1,354 Cr
Total assetsRs 1,879 Cr
Net blockRs 419 Cr
Capital work in progressRs 1 Cr
InvestmentsRs 496 Cr
ReceivablesRs 277 Cr
InventoryRs 399 Cr
Other liabilitiesRs 481 Cr
Shares outstanding (crore)9.93
Ownership
Promoter holding54.25% (+1.25 in a year)
Computed by MarketFriction from the consolidated statements. Returns use average balances.
P/E 36.3 is at the 57th percentile of its own 9.4-year range (median 35.1, low 16.6, high 44.9).
P/B 5.63 is at the 43th percentile (median 5.97).
Monthly. Market cap from split-adjusted price; profit and book value as reported by that month. A low percentile means cheap versus its own history, not cheap versus peers.
PeriodGARFIBRESNifty 50Difference
1 week-1.7%-2.8% +1.0 pts
1 month-8.8%-6.8% -2.0 pts
3 months+5.1%-7.6% +12.7 pts
6 months+26.7%+0.4% +26.3 pts
1 year-2.3%-9.9% +7.6 pts
2 years-8.7%-13.6% +4.9 pts
3 years+21.0%+14.2% +6.8 pts
5 years+15.4%+27.9% -12.5 pts
17 mutual fund schemes hold about ₹777 Cr. Over three months 4 bought more and 5 sold (share counts, price move removed).
FundWeightEst. Cr3m shares
Kotak Small Cap Fund1.96%386 -1%
SBI MNC Fund1.94%130 -12%
HDFC Children's Fund(Lock in)0.71%75 +91%
Edelweiss Small Cap Fund0.48%35 -8%
Kotak MNC Fund1.41%33 -5%
Kotak ELSS Tax Saver Fund0.45%29 -2%
SBI Conservative Hybrid Fund(Q0.17%17 +1%
Bandhan Balanced Advantage Fund0.61%14 -1%
Kotak Manufacture in India Fund0.47%14 -9%
Bajaj Finserv Small Cap Fund0.46%12 -16%
SBI LT Advantage Fund-V2.41%9 -3%
HDFC Retirement Fund-Hybrid-Equity Plan0.45%7 +100%
Bajaj Finserv Multi Cap Fund0.43%7 -11%
Bandhan Business Cycle Fund0.50%6 +9%
Bajaj Finserv ELSS-Tax Saver Fund2.28%2 +8%
SBI Children's Fund-Savings Plan0.82%1 -2%
Motilal Oswal BSE 1000 Index Fund0.02%0 +1%

Red flags

F-score 4 of 8
lookInventory outrunning sales Inventory grew 48% vs sales -1% in 2026
Checks on the latest reported years: cash vs profit, accruals, receivables and inventory vs sales, dilution, debt, interest cover, equity, other income, losses, and auditor, top-management, insolvency and regulator filings in the last 12 months. A flag asks for an explanation; it is not a verdict.

Latest quarter

Jun 2026
Sales ₹482 Cr +31.3% vs Jun 2025. Net profit ₹65 Cr +22.6%.

Activity

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No bulk or block deals on record.
Ex-dateActionFactor
2026-09-01Dividend - Re 1 Per Share
2026-05-20Buy Back
2025-11-14Interim Dividend - Rs 8 Per Share
2025-08-26Dividend - Rs 1.50 Per Share
2025-01-03Bonus 4:10.2000
2024-09-12Annual General Meeting/Dividend - Rs 3 Per Share
2024-03-26Buy Back
2023-09-11Annual General Meeting/Dividend - Rs 3.50 Per Share
2022-11-03Buy Back
2022-09-05Annual General Meeting/Dividend - Rs 7 Per Share
2021-09-08 Annual General Meeting/Dividend - Rs 2.50 Per Share
2020-12-10 Buyback
2020-03-20 Interim Dividend -Rs 7 Per Share Special Dividend - Rs 10 Per Share
2019-09-06 Annual General Meeting/Dividend - Rs 5 Per Share
2018-08-30 Annual General Meeting/Dividend Rs 4.50 Per Share
2017-07-27 Annual General Meeting/Divided - Rs 3.50 Per Share/Special Dividend - Rs 1.50 Per Share
2016-08-02 Dividend-Rs 3.30/- Per Share
2015-08-25 Dividend - Rs 3/- Per Share
2014-09-18Annual General Meeting / Dividend - Rs 2.70/- Per Share
2013-08-22Annual General Meeting / Dividend - Rs 2.50/- Per Share
2012-09-20Annual General Meeting/Dividend Rs 2.50 Per Share
2011-09-15Dividend-Rs.2.50 Per Share
2010-09-08Dividend-Rs.2.50 Per Share
2009-09-16Dividend-Rs.2.50 Pr Share
2008-09-16Agm/Dividend - 25%
2007-11-15Dividend-Rs.2.50 Per Sh
No announcements in our files yet.
Company filings to NSE, newest first. Routine notices (trading window, newspaper copies) are left out. Click a row for the filing.
No short selling reported to NSE in our files.
Short sales disclosed by brokers to NSE, by trade date. Collected since late September 2026.
Not on any NSE surveillance list in the latest file.

Quick answers

What is the market cap of Garware Technical Fibres Ltd?

Garware Technical Fibres Ltd (GARFIBRES) has a market capitalisation of Rs 7,361 Cr. at the 2026-10-01 close.

What is the P/E ratio of Garware Technical Fibres Ltd?

Garware Technical Fibres Ltd trades at a P/E of 33.4 on trailing twelve-month profit, at the 2026-10-01 close.

What were Garware Technical Fibres Ltd's latest quarterly results?

In the Jun 2026 quarter, Garware Technical Fibres Ltd sales was Rs 482 Cr (+31.3% vs Jun 2025) and net profit was Rs 65 Cr.

What is the 52-week high and low of Garware Technical Fibres Ltd?

The 52-week high is Rs 863.40 and the 52-week low is Rs 579.75.

Data: NSE and BSE daily reports, company filings. Numbers only, not investment advice, not a SEBI-registered research service.AboutMethodologyFAQResearchContactTermsPrivacyDisclaimerUpdated 2026-10-03