Garware Technical Fibres 3QFY21 Result Updates By Amarjeet Maurya, Angel Broking
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Below are Views On Garware Technical Fibres 3QFY21 Result Updates By Mr. Amarjeet Maurya, AVP – Mid Caps, Angel Broking Ltd
“During the 3QFY21, Garware Technical Fibres Ltd (GTFL)’s reported sales growth of ~20% to Rs282cr on back overall impairment in demand. On the EBITDA front, the company reported margin improvement (up by 430bp YoY to 23.9%) back lower operating expenses. GTFL reported net profit growth of ~50% YoY to Rs43cr due to healthy sales growth and strong operating performance. 3Q Results were in line with expectation. Hence we are positive on stock.”
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