Garware-Wall Ropes PAT Grows by 43.3% in Q3FY16

Garware-Wall Ropes Ltd. (GWRL), a leading manufacturer of technical textiles for the Indian and global markets, today announced its financial results for the third quarter ended December 31^st, 2015.

Q3FY16 Highlights

• Sales revenue grew by 0.5% to Rs. 185.46 crore in Q3FY16 as compared to Rs.184.60 crore in Q3FY15

• Profit before tax grew by 47.4% to Rs. 19.70 crore in Q3FY16 as compared to Rs.13.37 crore in the same quarter last year

• Net profit after tax has grown by 43.3% to Rs. 14.60 crore in the quarter as against Rs. 10.19 crore in the corresponding period of FY15

• EPS for Q3FY16 is at Rs. 6.67; this is a growth of 55.3% over Q3FY15

9MFY16 Highlights

• Sales revenue grew by 9.1% to Rs. 638.66 crore in 9MFY16 as compared to Rs. 585.40 crore in 9MFY15

• Profit before tax grew by 44% to Rs. 62.79 crore in 9MFY16 as compared to Rs. 43.60 crore in the same quarter last year

• Net profit after tax has grown by 44.8% to Rs. 44.59 crore in the quarter as against Rs. 30.79 crore in the corresponding period of FY15

• EPS for 9MFY16 is at Rs. 20.38; this is a growth of 56.9% over 9MFY15

Management Comments

“The quarterly performance continues to reaffirm our strategy of focusing on innovation, geographic expansion and operational excellence. In spite of easing input costs resulting in subdued value growth, we have seen healthy margin increases. We expect to maintain this growth in the coming months as well” said Mr. Vayu Garware, CMD, Garware – Wall Ropes Ltd.

About Garware-Wall Ropes Ltd: (BSE: 509557 / NSE: GARWALLROP)

Garware-Wall Ropes Ltd. (GWRL) is an ISO 9001:2008 certified company. Established in 1976, the Company is a leading player in Technical Textiles, specializing in providing customized solutions to the cordage and infrastructure industry worldwide. A global player, the company is known for its innovation in the field of fisheries, aquaculture, shipping, sports, agriculture, coated fabrics and geosynthetics. GWRL products are manufactured in state-of-art facilities at Wai and Pune (both in Maharashtra, India) and are marketed in more than 75 countries worldwide.

For more information, please visit http://www.garwareropes.com