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.”
Above views are of the author and not of the website kindly read disclaimer
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