Assembled from the company's filings and exchange data as of today. Download PDF renders this page on the server; the narrative sections arrive with the Nexa composer.
Dossier · GARWARE SYNTHETICS LTD. · 29 October 2026Page 1 of 3
Company Dossier
MarketPing Research · factual · no rating expressed
GARWARE SYNTHETICS LTD.
BSE: 514400
BSE: 514400
Services › Services › Commercial Services & Supplies › Trading & Distributors
GARWARE SYNTHETICS LTD.
StateQ4 FY26 filed
Last close · 28 Oct 2026₹19.27
Market cap₹0.0k cr
TTM P/E · P/B · EV/EBITDA27.1 · — · 17.3
GARWARE SYNTHETICS LTD. is a Commercial Services & Supplies company. The annual-report business brief for this company has not been generated yet; the numbers below are as filed.
What a broker report prints here — the analyst's thesis. This dossier prints the filed record instead; the narrative read of the latest results, the guidance ledger and the earnings-call summary are the composer's sections (INSTITUTIONAL-PLAN.md M3) and are not yet produced.
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · standalone | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 13 | 11 | 11 | 11 | 10 |
| EBITDA (ex other income) | 1 | 1 | 1 | 0 | 1 |
| margin % | 8.5 | 6.8 | 6.0 | 3.2 | 9.0 |
| Owners' profit | 0 | 1 | (0) | 0 | 0 |
| EPS, as reported (₹) | 0.40 | 0.61 | (0.08) | 0.12 | 0.72 |
| ROE % · ROCE % | (9.0) · 104.7 | (29.4) · 168.1 | 2.3 · 3.9 | (0.7) · (46.2) | (23.6) · (109.2) |
| Debt / equity (x) | (4.67) | (5.94) | (2.55) | (2.61) | (3.44) |
| Cash from operations | 1 | 1 | 0 | 0 | (0) |
| Capex | 0 | (0) | (0) | (0) | (1) |
Source: SEBI results XBRL as filed with BSE/NSE; EBITDA excludes other income.
Every figure is a filed number or a ratio over filed numbers · No rating, target or fair value is expressed · Disclosures on the last pagemarketping.in
Dossier · GARWARE SYNTHETICS LTD. · 29 October 2026Page 2 of 3
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 3 | 3 | 3 | 3 | 3 | 3 | 2 | 2 |
| Profit before tax | 0 | (0) | (0) | 0 | 0 | 0 | 0 | (0) |
| Net profit | 0 | 0 | (0) | 0 | 0 | 0 | 0 | (0) |
| EPS (₹) | 0.12 | (0.03) | (0.17) | 0.20 | 0.21 | 0.31 | 0.36 | (0.17) |
Source: quarterly results as filed; the balance sheet is filed half-yearly and is not repeated here.
Exhibit 3: Peers — basic industry group, by market cap
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| REDINGTON LIMITED | 27,525 | 16.2 | 2.64 | 12.8 | 12.3 | 15.7 | 15.9 | 2.2 |
| MMTC LIMITED | 7,740 | 17.3 | 3.65 | 16.5 | 18.3 | 21.6 | (83.7) | 18426.5 |
| MSTC LIMITED | 3,896 | 16.6 | 4.31 | 11.3 | 24.2 | 31.8 | (13.9) | 86.5 |
| CREATIVE NEWTECH LIMITED | 1,653 | 25.4 | 4.27 | 19.0 | 18.1 | 21.0 | — | 5.2 |
| Pervasive Commodities Limited | 1,104 | — | 12.27 | — | (0.0) | (0.0) | — | 45.0 |
| SHIV AUM STEELS LIMITED | 736 | 64.8 | 6.09 | 47.0 | 6.0 | 6.9 | — | 4.9 |
| The Yamuna Syndicate Ltd | 736 | 8.1 | 0.57 | 185.3 | 4.0 | 0.3 | 4.8 | 6.2 |
| THE STATE TRADING CORPN | 602 | 0.9 | — | 51.0 | — | — | — | — |
Source: exchange data and filed statements via the screener; multiples at current prices.
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 27.1 | 13.9 | 97 of 130 | 26% |
| ROCE | (89.1) | 2.1 | 176 of 177 | 1% |
| EBITDA margin | 1.8 | 4.5 | 99 of 137 | 28% |
| Revenue growth | (12.3) | (8.6) | 71 of 135 | 48% |
| Profit growth | (1291.1) | 0.6 | 152 of 157 | 3% |
| Market cap | 11 | 21 | 127 of 179 | 29% |
Source: MarketPing peer ranks; a rank is a measurement, not a view.
Every figure is a filed number or a ratio over filed numbers · No rating, target or fair value is expressed · Disclosures on the last pagemarketping.in
Dossier · GARWARE SYNTHETICS LTD. · 29 October 2026Page 3 of 3
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 9 Oct 2026 · Compliance Certificate under Reg 74(5) for Q2 FY27 | compliance | minimal | — | — |
| 30 Sept 2026 · AGM Results: All 3 Resolutions Passed Unanimously by Shareholders | compliance | minimal | — | — |
| 30 Sept 2026 · Garware Synthetics 57th AGM proceedings held on 30 Sep 2026 via VC | board shareholder meetings | low | — | — |
| 25 Sept 2026 · Trading window closure from Oct 1, 2026 for Q2 results | compliance | minimal | — | — |
| 5 Sept 2026 · AGM Notice Published; 57th AGM on September 30, 2026 | compliance | minimal | — | — |
| 4 Sept 2026 · Garware Synthetics files 57th Annual Report for FY 2025-26 | results | high | — | — |
| 4 Sept 2026 · Garware Synthetics 57th AGM notice; chairman pay revision on agenda | board shareholder meetings | low | — | — |
| 24 Aug 2026 · Book Closure and Record Date for 57th AGM | board shareholder meetings | low | — | — |
| 24 Aug 2026 · Notice of Record Date and Book Closure for 57th AGM | board shareholder meetings | low | — | — |
| 24 Aug 2026 · Board approves 57th AGM notice on Sept 30; sets book closure Sept 24 to 30 | board shareholder meetings | low | — | — |
Source: exchange announcements; each reaction is measured from the close before the filing. Next day = the close one session after the reaction day (the first session that could trade the filing).
How to read this document
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions | an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
Sources, method and disclosures
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.
Every figure is a filed number or a ratio over filed numbers · No rating, target or fair value is expressed · Disclosures on the last pagemarketping.in