Indian Garware Technical Fibres registered 12% net sales growth in 9M FY23, beats market expectations in the first nine months (9M) of fiscal 2023 (FY23) to ₹935.1 crore, compared to the same period last year. The profit before tax remained flat at ₹144.7 crore in 9M FY23 as compared to ₹145.1 crore in the same period of last year.
One of the key drivers of Garware Technical Fibres’ net sales growth is its innovative product portfolio. The company has invested significantly in research and development to create high-performance products that meet the evolving needs of customers across various industries. For instance, its synthetic cordage products have been designed to meet the requirements of the fishing, aquaculture, and offshore industries. Similarly, its geosynthetic products have been developed to cater to the growing demand for sustainable infrastructure solutions.
Garware Technical Fibres’ strong market position and extensive distribution network have also contributed to its net sales growth. The company has a global presence with a presence in more than 75 countries, and its products are used in various applications such as agriculture, aquaculture, sports, construction, and many others.
Furthermore, Garware Technical Fibres has demonstrated a strong commitment to quality and customer satisfaction. Its products are known for their durability, reliability, and consistent performance, which has helped the company build a loyal customer base.
In summary, Garware Technical Fibres’ net sales growth in 9M FY23 can be attributed to its focus on innovation, quality, and customer satisfaction, its wide range of high-performance products, its strong market position, and its extensive distribution network.
