Garware Technical Fibres Ltd, formerly Garware-Wall Ropes Limited,is a 43 year old ISO 14001-2015 and 9001-2015 Certified company by BVC, UK which carries ICRA’s ‘AA+’ rating indicating strong financial stability.
Incorporated on 1 Apr.’76 in Bombay, Garware-Wall Ropes was promoted by Garware Filament Corporation and Wall Ind. Inc, US. In 1987, Wall Ind. divested its shareholding which was taken up by the promoters. The company manufactures synthetic yarn, cordage, twine, fishnet webbings & polypropylene multi-filament yarn.
The company entered into a technical collaboration with Toyo Kogyo, Japan, to manufacture fishnet webbing machines. It has decided to set up a subsidiary in the US. The company finalised a joint venture with a Danish company to set up a 100% EOU to manufacture braided wires. It has decided to diversify into the manufacture of heat-resistant rubber tension tapes and threads used in the garment industry.
The Company provides solutions in aquaculture cage nets, fishing nets, sports nets, safety nets, agricultural nets, coated fabrics, polymer ropes and geosynthetics.
Currently the company has a Global Presence with 6 offices around the Globe and customers across 75+ Countries.
Company has been able to maintain exceptional Profit Growth of 33% CAGR for past 5 years while on 10 year basis it stands at 15%. Apart from that company does have a negligible amount of debt which however is expected to increase over the coming period but there seems no problem given sales growth and Opm which is sufficient to finance its Debt.