Garware Technical Fibres Reports Mixed Financial Results Amidst Rising Interest Expenses

Garware Technical Fibres, a midcap player in the textile industry, has recently reported its financial results for the quarter ending December 2024. The evaluation changes indicate a notable shift in the company's score, which has adjusted from 3 to -2 over the past three months.
The financial data reveals that Garware Tech. achieved net sales of Rs 771.31 crore for the half-yearly period, reflecting a year-on-year growth of 24.87%. This positive sales trend suggests a strong demand for the company's products in the near term.

However, the results also highlight challenges for Garware Tech. The profit before tax (PBT) for the quarter stands at Rs 53.05 crore, which represents a decline of 15.9% compared to the average PBT of the previous four quarters. Similarly, the profit after tax (PAT) has decreased to Rs 47.77 crore, down 15.3% from the average PAT of the last four quarters. Additionally, interest expenses have risen to Rs 16.91 crore, marking a 31.90% increase over the preceding nine-month period, indicating a rise in borrowings.

Overall, Garware Technical Fibres is navigating a complex financial landscape with both positive sales growth and significant pressures on profitability.

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