Garware Technical Fibres Consolidated Net Profit Rises by 12% in FY20

Garware Technical Fibres Ltd. (Formerly Garware-Wall Ropes Ltd.), a leading manufacturer of technical textiles for the Indian and global markets, has announced its financial results for the quarter and twelve months ended 31st March 2020. 

Q4 FY20 Highlights:

* Consolidated Revenue reduced by 13% to INR 253 Cr in Q4 FY20 as compared to INR 290 Cr in Q4 FY19

* Consolidated Net Profit has decreased by 2.5% to INR 36 Cr in the quarter as against INR 37 Cr in the corresponding period of FY19

* Consolidated EPS for Q4 FY20 is at INR 16.32; this is a decline of 2.5% over Q4 FY19

* Standalone Revenue reduced by 16% to INR 244 Cr in Q4 FY20 as against INR 290 Cr in Q4 FY19

* Standalone Net Profit has increased by 100% to INR 73 Cr in the quarter as against INR 37 Cr in the corresponding period of FY19

* Standalone EPS for Q4 FY20 is at INR 33.45; this is a rise of  100% over Q4 FY19

FY20 Highlights:

* Consolidated Revenue reduced by 6% to INR 953 Cr in FY20 as compared to INR 1018 Cr in FY19

* Consolidated Net Profit has increased by 12% to INR 141 Cr as against INR 126 Cr in FY19

* Consolidated EPS for FY20 is at INR 64.22; this is an increase of 12% over FY19

* Standalone Revenue reduced by 7% to INR 945 Cr in FY20 as compared to INR 1018 Cr in FY19

* Standalone Net Profit has increased by 42% to INR 178 Cr in FY20 as against INR 126 Cr in FY19

* Standalone EPS for FY20 is at INR 81.35; this is a rise of  42% over FY19

Management Comments:

Stating his views on the results, Mr. Vayu Garware, CMD, Garware Technical Fibres Ltd. said, “The topline and profit performance for the fourth quarter was subdued due to the impact of the lockdown on account of the coronavirus. Particularly, dispatches of our international sales were significantly impacted despite having a strong order book. Domestic sales from depots around the country could also not take place as planned. While the current Covid-19 pandemic continues to pose significant challenges in the first quarter of this year, since approximately 60% of our business caters to end users who are in food related industries, we are hopeful of a reasonable recovery in the second half of the year subject to any unforeseen issues.”

About Garware Technical Fibres Ltd. (Formerly Garware-Wall Ropes Ltd.): (BSE: 509557 / NSE: GARFIBRES)

Garware Technical Fibres Ltd. (formerly Garware-Wall Ropes Ltd.), an ISO 14001:2015 and ISO 9001:2015 certified company is a leading player in Technical Textiles specializing in providing customized solutions to its customers worldwide. Globally, the company is known for its applied innovation in the field of sports, fisheries, aquaculture, shipping, agriculture, coated fabrics and geo-synthetics. The company’s products are manufactured in state-of-art facilities at Wai and Pune and marketed in more than 75 countries.

Will nanotechnology transform information technology?

The nanotechnology industry is heralding a new world order and is estimated to grow over $1 trillion by 2015. Since it is distinguished by its interdisciplinary nature, can nanotechnology revolutionize information technology?

Even though it has already bringing in radical changes in the fields of healthcare, textile, paint, rubber, automobile industries, but lately also seeing advances on the IT front.

Talking to CXOtoday, Ashok Kumar Manoli, principal secretary IT, BT & Science & Technology, Government of Karnataka said, “without doubt, nanotechnology is making rapid advances in the IT industry since IT is one of the defining features of today’s world. Nano has made advances in IT even if it is not directly related.”

Recently, IBM researchers have created transistors out of carbon nanotubes that can outperform similar silicon transistors, a development that helps build the case that carbon may one day become a building block of computing.

IBM researchers have outlined how transistors made of carbon nanotubes -- long, thin strands of carbon molecules -- delivered more than twice the amount of electrical current at a faster rate than cutting-edge transistors made from silicon and metal, the basis for chips today.

Likewise, Samsung, world’s leading electronics major has added carbon nanotubes to LCD tellies. Reports indicate that Samsung has been showing off its technology, which uses carbon nanotubes to drop the cost and increase the performance of LCD screens.

According to Masum Khan, product manager of Tesscorn, a leading company in customized equipments for nano research said, “Samsung research institutes have developed a 15-inch prototype LCD screen that employs an array of carbon nanotubes. The nanotubes are used instead of conventional light sources, such as bulbs or light-emitting diodes.”

Khan said that telly technologies would lower the cost of LCD TVs in the coming years.

Nanotech in consumer electronics

Nanotube TV technology has been around for a while and has much in common with traditional cathode-ray sets. The downside is that they need new production lines and would be more expensive than LCDs and Plasma screens.

However, if they are used alongside LCDs they could be used to cut the cost the backlight of LCD TVs. The backlight makes up half the cost of a 40-inch LCD. Samsung said that the partial use of nanotubes could lower energy consumption and improve picture quality. An LCD takes 15 milliseconds to render a picture, while an LCD with carbon nanotubes as a backlight just four milliseconds.

Technologists now want to create an LCD with a carbon backlight that lasts 30,000 hours and puts out 60 to 70 lumens per watt.

The other advances in nanotechnology is the “Nanosilver” technology used in almost all consumer appliances like washing machines, refrigerators where in the nanosilver technology helps fighting bacteria so food remains fresh for longer. Khan said a number of products are already coming out in the market.

Car changes color as per outside climate

On the automobile front, nanotechnology is used to develop a paint that can change color depending on the outside weather. This is possible when a small change in done “nanovoltage” to the paints resulting in change of color. “A number of automobile manufacturers have already expressed interest in the technology but this is still in research stage,” adds Khan.

Nano materials in tyres

Likewise, rubber when mixed with nano materials tends to have longer life than the normal tyres and also less on the wear and tear.


Light bullet proof garments

On the textile front, we already seen garments that are stain resistant and wrinkle free but now armed forces will use garments made of carbon material that are very light and even bullet proof. These garments are also anti-bacterial that can be worn for a number of days.