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Garware Technical Fibres Limited
(GARFIBRES)
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Rating:71Outperform
Price Target:
₹906.00
▲(23.03% Upside)
Action:Reiterated
Date:09/20/26
The score is driven primarily by solid financial strength led by a very strong, low-leverage balance sheet, partially offset by 2026 margin compression and weakening cash-flow momentum. Technicals are supportive with price above key moving averages and neutral-to-positive momentum. Valuation is the main drag due to a high P/E and only a modest dividend yield.
Positive Factors
Very low leverage
The very low debt burden gives Garware Technical Fibres substantial financial flexibility, reducing interest and refinancing pressure. A conservatively funded balance sheet can support investment, absorb market weakness, and preserve strategic options while equity continues to strengthen.
Negative Factors
Margin compression
Broad margin compression indicates that profitability has become less robust despite the company retaining healthy absolute margins. If sustained, lower margins could reduce earnings conversion from revenue, constrain reinvestment capacity, and weaken the benefit of the company’s long-term sales growth.
Read all positive and negative factors
Positive Factors
Negative Factors
Very low leverage
The very low debt burden gives Garware Technical Fibres substantial financial flexibility, reducing interest and refinancing pressure. A conservatively funded balance sheet can support investment, absorb market weakness, and preserve strategic options while equity continues to strengthen.
Read all positive factors
Garware Technical Fibres Limited (GARFIBRES) vs. iShares MSCI India ETF (INDA)
Market Cap
₹78.16B
Dividend Yield1.13%
Average Volume (3M)16.65K
Price to Earnings (P/E)37.1
Beta (1Y)1.21
Revenue Growth4.64%
EPS Growth-11.48%
CountryIN
Employees1,188
SectorGeneral
Sector StrengthN/A
IndustryManufacturing - Textiles
Share Statistics
EPS (TTM)21.21
Shares Outstanding97,648,346
10 Day Avg. Volume24,760
30 Day Avg. Volume16,652
Financial Highlights & Ratios
PEG Ratio-2.17
Price to Book (P/B)4.44
Price to Sales (P/S)3.94
P/FCF Ratio62.55
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)24.3
Revenue Forecast (FY)₹17.29B
Garware Technical Fibres Limited Business Overview & Revenue Model
Company Description
Garware Technical Fibres Limited, founded in 1976 and headquartered in Pune, India, is a global producer and supplier of an extensive array of technical textile solutions. The company's operations are strategically divided into two principal segme...
How the Company Makes Money
Garware Technical Fibres makes money primarily by manufacturing and selling technical textile and cordage products to customers in marine and industrial end markets. Revenue is generated through (1) product sales of ropes and twines used in shippi...
Garware Technical Fibres Limited Financial Statement Overview
Summary
Income Statement
74
Positive
Balance Sheet
90
Very Positive
Cash Flow
58
Neutral
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 16.44B | 15.29B | 15.40B | 13.26B | 13.06B | 11.77B |
| Gross Profit | 8.37B | 6.55B | 11.06B | 8.70B | 7.97B | 7.32B |
| EBITDA | 3.15B | 2.84B | 3.57B | 3.15B | 2.57B | 2.48B |
| Net Income | 2.10B | 1.99B | 2.32B | 2.08B | 1.72B | 1.65B |
Balance Sheet | ||||||
| Total Assets | 0.00 | 18.79B | 17.57B | 17.71B | 14.93B | 14.15B |
| Cash, Cash Equivalents and Short-Term Investments | 4.20B | 4.20B | 1.77B | 3.10B | 554.59M | 2.18B |
| Total Debt | 0.00 | 428.15M | 648.62M | 1.23B | 1.34B | 795.73M |
| Total Liabilities | -13.54B | 5.24B | 5.15B | 5.37B | 4.77B | 4.44B |
| Stockholders Equity | 13.54B | 13.54B | 12.42B | 12.34B | 10.16B | 9.71B |
Cash Flow | ||||||
| Free Cash Flow | -188.26M | 962.35M | 1.51B | 1.76B | 1.60B | 491.38M |
| Operating Cash Flow | 61.40M | 1.53B | 1.95B | 2.19B | 1.89B | 638.46M |
| Investing Cash Flow | 87.59M | 597.42M | -27.84M | -726.63M | -1.02B | 78.62M |
| Financing Cash Flow | 230.23M | -1.39B | -3.31B | -385.15M | -851.06M | -379.69M |
Garware Technical Fibres Limited Technical Analysis
Neutral
736.40
Price Trends
782.72
Negative
734.07
Positive
691.32
Positive
Market Momentum
2.90
Positive
45.85
Neutral
34.55
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:GARFIBRES, the sentiment is Neutral. The current price of 736.4 is below the 20-day moving average (MA) of 803.10, below the 50-day MA of 782.72, and above the 200-day MA of 691.32, indicating a neutral trend. The MACD of 2.90 indicates Positive momentum. The RSI at 45.85 is Neutral, neither overbought nor oversold. The STOCH value of 34.55 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for IN:GARFIBRES.
Garware Technical Fibres Limited Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | ₹12.38B | 8.62 | ― | 1.89% | -0.91% | 155.80% | |
71 Outperform | ₹78.16B | 37.11 | ― | 1.13% | 4.64% | -11.48% | |
66 Neutral | ₹383.11B | 42.59 | ― | 0.44% | 4.20% | 10.65% | |
56 Neutral | ₹209.97B | 77.37 | ― | 0.04% | -3.26% | -48.71% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
47 Neutral | ₹165.45M | -0.09 | ― | ― | -98.74% | 20.85% | |
41 Neutral | ₹134.55M | -0.05 | ― | ― | ― | ― |
* General Sector Average
IN:GARFIBRES
Garware Technical Fibres Limited
780.55
2.78
0.36%
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Garware Technical Fibres Limited Corporate Events
Garware Technical Fibres Sets Virtual AGM and Record Date for Dividend
Aug 18, 2026
Garware Technical Fibres Limited has announced that its forty-ninth Annual General Meeting for the financial year 2025–26 will be conducted without a physical venue, using video conferencing and other audio-visual means in line with regulato...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.