Published on October 22, 2022
Hyderabad : Galware Technical Fibres Ltd. (Formerly Garware-Wall Ropes Ltd.), a leading manufacturer of technical textiles for the Indian and global markets, today announced its unaudited financial results for the quarter and half year ended Sep 30, 2022.
Consolidated: Q2 FY23 Highlights:
Consolidated: HI FY23 Highlights:
Management Comments:
In a statement, Mr. Vayu Garware, CMD, Garware Technical Fibres Ltd. said, “We were able to deliver a good operational performance in Q2FY23. With easing of the export supply chain challenges, revenue grew by 26% and operating EBITDA grew by 22% as compared to Q2FY22.
We were also able to get margins back to close to normal levels in Q2. PBT rose to 17.1% of sales in Q2 FY23 from 12.2% in Q1 FY23. This was despite higher inventory costs carried forwarded from the previous quarter as well as continued higher cost of export freights in Q2 FY23. The easing of raw material costs as well as freight rates from the last quarter’s levels should be a positive in the second half of the year. “