Garware Technical Fibres Ltd - Stock Valuation and Financial Performance

Garware Technical Fibres Limited (Formerly Garware-Wall Ropes Ltd.) is one of India’s leading players in the technical textiles sector. Established in 1976, the company today is a multi-divisional, multi-geographical technical textiles company and is known for providing world class innovative solutions in high performance aquaculture cage nets, fishing nets, sports nets, safety nets, agricultural nets, coated fabrics, polymer ropes and geosynthetics.

Business area of the company

The Company is engaged in manufacturing and selling various products such as Ropes, Twine, Yarn, Fishnet, Other Nets and Technical Textiles. The Company is providing solution to the infrastructure industries which include coastal protection, land filling etc. The company caters to both domestic and international markets.

Awards and recognitions

• 2015: 2nd Most Innovative Exporters 2015
• 2015: Award for Best Aquaculture Cage Net Manufacturer
• 2015-16: Top Exporter Award for their outstanding performance in the Fish Netting export category and Ropes category
• 2016-17: Top Exporter Award for their outstanding performance in the Fish Netting export category and Ropes category
• 2017: Highest Exporter Award 2017
• 2019: India Green Manufacturing Challenge 2019
• 2020: The Economic Times Polymers Awards 2020

Milestones

1993-1998

• Garfil Maxiflex Ropes - A new age rope bettering the properties of Nylon ropes and at the same time cost effective. A great boon for the towing industry.
• Geonets & Geoboxes - A new concept for Indian Geosynthetic industry
• PE braided nettings for Global market.
• Sports nets & Fabricated nets for non-fishing applications.
• PE twisted nettings for Indian and global Market - a game changer in the Indian fishing industry, the fisher folk got high quality nettings.

1999-2004

• Sapphire Braided nettings - This product heralded the arrival of the organization in the premium league of synthetic cordage producers.
• Olivene MK3 nettings - A mid range compact netting for specific segments.
• Fully assembled Purse Seine net - A step towards forward integration synergizing the application and product knowledge of the organization.
• Olivene MK2 nettings (entry into compact braided nettings) - a technology transfer from a UK company, this heralded the organization’s entry into the premium netting segment
  Aquaculture Cages Fabrication - Adding another business segment in the net assembly shop
• Garfil Nylon Purse Seine nettings for Domestic Market - A premium product offering with specialized resins for Indian Purse Seine fishermen
• Purse Seine nettings as per Norwegian standards (Global market) - Developing process and coatings to achieve rigorous standards with 463 impregnation for purse seine nettings
• Twisted Sapphire nettings - High end product for the small shrimp & fish trawls with enhanced strength and abrasion resistance
• Garfil Maxigold ropes - High end ropes replacing traditional PP mooring ropes with high strength to weight ratio

2005-2010

• SNG nettings - A further step in compact nettings offering even higher strength and abrasion resistance
• Aquaculture Cages Fabrication for Abalone
• Production of Pelagic Nettings – Commissioning of one of the largest Hot Air D.S.
• Sapphire Aquaculture Cages fabrication
• Maxima Purse Line ropes - Specialized rope development for Purse Seine fishing in the USA
• Raschel Knotless nettings production - Backward integration for aquaculture cages raw material
• Aquaculture Cages fabrication for Tuna - Specialized cage making for high value Tuna fish
• Camouflage nets - Indigenized offering in service of the Defence forces
• The organization started 2 new business divisions: Agritech and Coated fabrics

2011-2016

• Flexible Helimat - patent pending. Specialised application for Indian defence sector
• Inflated structure for Radars
• Aerostat balloon - Indigenization for Indian Defence sector and value addition for the coated fabric division
• Sapphire Ultracore Predator Protection Nets - Patent pending. A unique mixture of polymer and metal wires with a stiffening resin.
• Garfil STAR yarn developed - High strength special polyolefin yarn - patent pending
• Garfil STAR for knotted and knotless netting - application focused products from the yarn developed

2017-18

• X2 Aqua Mooring Ropes - Very High Fatigue Resistance, Low Elongation & Approx. 20% Higher Breaking Strength for same diameter of Maxima rope.
• X2 Aqua 3 Strand Rope for cages - High Fatigue Resistance, Low Elongation & Approx. 15% Higher Breaking Strength for same diameter of Maxima rope.
• Sapphire Excel Plus - Higher cut resistance, Stiffer than regular PE braided nets & Perfect Square mesh.
• X12 Lice Shield - Non-Pharmaceutical Lice Controlling Method-Lice Skirts. Approx. 80 times higher water flow than regular lice shields which helps to maintain DO in fish cage. Patent pending.
• X1S Braided Netting - Lower diameter & Less weight netting. Less load on mooring system.
• Viking Plus - Knotless nets with sinking ability. Similar behavior as Nylon during Sea lice Treatment.
• Breamsafe Net cages - Higher Bite resistance than nylon netting. Unique fabrication method to avoid chewing by seabream.
• X18 Stiff Netting - Will prevent Seals & Sharks to reach to fish cage. Drastic reduction in fish loss. Patent pending.
• V2 netting - PE netting with Antifouling and Sinking additive incorporated in the yarn. It will delay fouling & hence reduction in In situ cleaning cycles. Patent pending.

2019-20

• The company incorporated a subsidiary company, in the name and style ‘Garware Technical Fibres USA Inc.’, in United States of America with effective from February 20, 2020. The business of the subsidiary company is in line with main business activities of the company.

2020-21

• Garware Technical Fibres has incorporated a Wholly owned Subsidiary (WOS) company, in the name and style ‘Garware Technical Textile’ with effect from October 14, 2020.