Garware Wall

Garware Wall Ropes hit a life time high on the day its announced its Q2FY17 performance. Its net sales rose 8% (YoY) at Rs.232 crore and managed to keep costs on a leash, increasing by just 3%. This helped push up the EBITDA, which was up 54% at Rs.40 crore. Margins rose sharply from 12.15% to 17.24%.

The company is India's top & one of the world's biggest manufacturer, supplier & exporter of Fishing Nets, Agro Shade Nets, Sports Nets, Ropes, Twines, Geosynthetics, etc. 60% of its revenue comes from domestic business and 40% from exports.

The company ended the quarter with a net profit at Rs.26 crore, up 73%. H1FY17 net profit was at Rs.46 crore and this is already 74% of entire FY16 net profit. Interest costs have come down 24% but this was more than offset by a doubling of tax outgo.