GTFL, a leading manufacturer of technical textiles, announced robust financial results for the fourth quarter (Q4FY24) and the full fiscal year 2024 (FY24), showcasing growth in both sales and profitability.
Q4FY24 Financial Highlights:
Net Sales: Increased by 3% to ₹382.3 crore compared to ₹370.5 crore in Q4FY23.
Profit Before Tax (PBT): Increased by 17% to ₹91.5 crore compared to ₹78.5 crore in Q4FY23.
Net Profit After Tax (PAT): Increased by 16% to ₹69.5 crore compared to ₹59.7 crore in Q4FY23.
Earnings Per Share (EPS): ₹34.1, a 17.4% growth over Q4FY23.
FY24 Financial Highlights:
Net Sales: Increased by 2% to ₹1,325.6 crore compared to ₹1,305.6 crore in FY23.
Profit Before Tax (PBT): Increased by 22% to ₹271.7 crore compared to ₹223.2 crore in FY23.
Net Profit After Tax (PAT): Increased by 21% to ₹208.2 crore compared to ₹172.2 crore in FY23.
Earnings Per Share (EPS): ₹102.2, a 22% growth over FY23.
Dividend: The board has recommended a dividend of ₹18 per equity share.
Key Points:
Growth: GTFL experienced growth in both domestic and international markets, with a strong focus on the aquaculture and agriculture sectors.
Profitability: The company's profitability improved due to better product mix and cost optimization measures.
Capacity Expansion: GTFL continues to invest in expanding its production capacity to meet the growing demand for its products.
Positive Outlook: The management remains optimistic about the future growth prospects of the company, driven by increasing demand for technical textiles and its strong market position.
For further information, you can refer to the following resources:
Garware Technical Fibres Ltd. Website: https://www.garwarefibres.com/investors/financial-information/financial-result
ICICI Direct Analysis: https://www.icicidirect.com/stocks/garware-technical-fibres-ltd-share-price
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