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Garware Technical Fibres Q2 FY27 results: net profit up 83.4% to ₹58.56 crore, revenue up 33.0%
Garware Technical Fibres Ltd reported consolidated Q2 FY27 revenue of ₹462.62 crore, up 33.0% from Q2 FY26, while net profit rose to ₹58.56 crore and basic EPS reached ₹6.0. EBITDA was ₹80 crore, with margin at 17.3%. On a standalone basis, revenue was ₹418.41 crore and profit after tax was ₹56.18 crore.
Key points
- Consolidated Q2 FY27 revenue rose 33.0% year on year to ₹462.62 crore, while EBITDA increased 65.2% to ₹80 crore.
- Net profit rose 83.4% from Q2 FY26 to ₹58.56 crore, and basic EPS increased from ₹3.22 to ₹6.0.
- EBITDA margin expanded by 3.4 percentage points to 17.3% from 13.9% in Q2 FY26.
- Against Q1 FY27, revenue fell 4.1% to ₹462.62 crore and net profit declined 9.3% to ₹58.56 crore.
- H1 FY27 revenue was ₹944.99 crore, up 32.1%, while profit after tax rose 44.8% to ₹123.17 crore.
How did Garware Technical Fibres perform in Q2 FY27?
On a consolidated basis, Garware Technical Fibres reported Q2 FY27 revenue of ₹462.62 crore, compared with ₹347.90 crore in Q2 FY26 and ₹482.37 crore in Q1 FY27. EBITDA was ₹80 crore, with margin at 17.3%, against ₹48.42 crore and 13.9% a year ago and ₹90.09 crore and 18.7% in the previous quarter.
Net profit for the quarter was ₹58.56 crore, compared with ₹31.93 crore in Q2 FY26 and ₹64.60 crore in Q1 FY27. Basic EPS was ₹6.0, up from ₹3.22 a year ago but lower than ₹6.56 in the previous quarter. The board approved the unaudited standalone and consolidated results on 29 October 2026.
On a standalone basis, Q2 FY27 revenue was ₹418.41 crore, up 16.3%, while profit after tax was ₹56.18 crore against ₹47.33 crore in Q2 FY26.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 462.62 | 482.37 | 347.90 | +33.0% | −4.1% |
| Other income | 8.96 | 8.93 | 9.34 | −4.1% | +0.3% |
| Total expenses | 395.44 | 404.94 | 311.58 | +26.9% | −2.3% |
| EBITDA | 80 | 90.09 | 48.42 | +65.2% | −11.2% |
| EBITDA margin | 17.3% | 18.7% | 13.9% | +3.4 pp | −1.4 pp |
| Profit before tax | 76.15 | 86.36 | 45.65 | +66.8% | −11.8% |
| Tax | 17.60 | 21.87 | 13.67 | +28.7% | −19.5% |
| Net profit | 58.56 | 64.60 | 31.93 | +83.4% | −9.3% |
| EPS (₹) | 6.00 | 6.56 | 3.22 | +86.3% | −8.5% |
EBITDA here is revenue from operations less operating costs (total expenses excluding finance costs and depreciation): before other income and exceptional items. Growth is shown only when both figures are positive. Source: Company's results filing (XBRL).
What changed in Garware Technical Fibres' costs and profit?
Total expenses increased 26.9% year on year to ₹395.44 crore, including cost of materials of ₹140.30 crore, employee cost of ₹67.20 crore, depreciation of ₹9.83 crore and other expenses of ₹159.01 crore. Finance costs fell to ₹2.98 crore from ₹3.49 crore, while other income declined to ₹8.96 crore from ₹9.34 crore.
Profit before tax rose 66.8% to ₹76.15 crore from ₹45.65 crore, and the net profit margin increased by 3.5 percentage points to 12.7% from 9.2%. Tax expense was ₹17.60 crore against ₹13.67 crore a year ago. There was no exceptional item in either quarter, and the filing did not state the reasons for the year-on-year changes.
Against Q1 FY27, total expenses fell 2.3% to ₹395.44 crore and other expenses declined 16.0% to ₹159.01 crore. Cost of materials rose 6.4% to ₹140.30 crore and employee cost increased 4.4% to ₹67.20 crore, while finance costs fell to ₹2.98 crore. Other income was ₹8.96 crore, and there was no exceptional item.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 140.30 | 97.96 | +42.34 | +43.2% |
| Employee cost | 67.20 | 62.98 | +4.22 | +6.7% |
| Finance costs | 2.98 | 3.49 | −0.51 | −14.6% |
| Depreciation | 9.83 | 8.62 | +1.21 | +14.0% |
| Other expenses | 159.01 | 129.80 | +29.21 | +22.5% |
| Total expenses | 395.44 | 311.58 | +83.86 | +26.9% |
| Other income | 8.96 | 9.34 | −0.38 | −4.1% |
| Tax | 17.60 | 13.67 | +3.93 | +28.7% |
Source: Company's results filing (XBRL).
How did the first half of FY27 go?
In H1 FY27, consolidated revenue rose 32.1% to ₹944.99 crore from ₹715.12 crore in H1 FY26, while total income increased 30.6% to ₹962.88 crore from ₹737.31 crore. Profit before tax rose 40.0% to ₹162.51 crore from ₹116.05 crore.
Profit after tax for the first half increased 44.8% to ₹123.17 crore from ₹85.08 crore, while basic EPS rose from ₹8.57 to ₹12.56. The board approved the unaudited consolidated and standalone half-year results for the period ended 30 September 2026.
| ₹ crore | H1 FY27 | H1 FY26 | Change |
|---|---|---|---|
| Revenue from operations | 944.99 | 715.12 | +32.1% |
| Profit before tax | 162.51 | 116.05 | +40.0% |
| Net profit | 123.17 | 85.08 | +44.8% |
| EPS (₹) | 12.56 | 8.57 | +46.6% |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
At 30 September 2026, total assets were ₹1,970.64 crore, compared with ₹1,878.75 crore on 31 March 2026, while total equity rose to ₹1,406.45 crore from ₹1,354.42 crore. Borrowings increased to ₹53.75 crore from ₹40.30 crore and cash declined to ₹95.65 crore from ₹98.66 crore.
Inventories increased to ₹424.91 crore from ₹398.60 crore, trade receivables rose to ₹309.96 crore from ₹276.68 crore and trade payables increased to ₹275.97 crore from ₹267.41 crore. H1 FY27 operating cash flow was ₹73.79 crore, compared with ₹6.14 crore in H1 FY26.
Investing cash flow for H1 FY27 was ₹34.83 crore, against ₹8.76 crore a year earlier, while financing cash flow was negative ₹114.01 crore compared with ₹23.02 crore. Capital expenditure was ₹30.94 crore in H1 FY27 and ₹24.84 crore in H1 FY26.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 1,971 | 1,879 |
| Total equity | 1,406 | 1,354 |
| Borrowings | 53.75 | 40.30 |
| Cash and equivalents | 95.65 | 98.66 |
| Inventories | 424.91 | 398.60 |
| Trade receivables | 309.96 | 276.68 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | 73.79 | 6.14 |
| Cash from investing | 34.83 | 8.76 |
| Cash from financing | −114.01 | 23.02 |
| Capital expenditure | 30.94 | 24.84 |
Source: Company's results filing (XBRL).
How has Garware Technical Fibres done over the last 8 quarters?
Revenue reached its highest level of the reported period in Q1 FY27 at ₹482.37 crore before easing to ₹462.62 crore in Q2 FY27. The lowest quarterly revenue was ₹347.90 crore in Q2 FY26, and revenue has risen year on year for the last two quarters.
Net profit was highest in Q1 FY27 at ₹64.60 crore and stood at ₹58.56 crore in Q2 FY27. The low point was ₹31.93 crore in Q2 FY26, while profit also rose year on year in each of the last two quarters.
EBITDA margin peaked at 22.7% in Q4 FY25 and bottomed at 13.9% in Q2 FY26. It was 17.3% in Q2 FY27 after 18.7% in Q1 FY27, indicating a lower margin following the previous quarter.
Which businesses drove the quarter?
Synthetic cordage remained the larger segment, recording revenue of ₹405.60 crore, up 44.5% from ₹280.75 crore in Q2 FY26. Segment EBIT was ₹71.01 crore, compared with ₹35.07 crore a year ago, and the reported EBIT margin was 17.5%.
Fibre and Industrial Products & Projects reported revenue of ₹77.49 crore, up 4.8% from ₹73.97 crore in Q2 FY26. EBIT was ₹17.97 crore against ₹19.54 crore a year ago, while the reported EBIT margin was 23.2%.
| Segment | Revenue | Revenue YoY | EBIT | EBIT margin |
|---|---|---|---|---|
| Synthetic cordage | 405.60 | +44.5% | 71.01 | 17.5% |
| Fibre and Industrial Products & Projects | 77.49 | +4.8% | 17.97 | 23.2% |
Source: Company's results filing (XBRL segment data).
How did Garware Technical Fibres shares react?
The filing was released after market hours. From the price when the filing appeared, the stock fell 1.5% after 5 minutes, 2.7% after 15 minutes and 3.3% after 30 minutes. On the reaction day, it closed 0.9% above its previous close of ₹750.1.
By the next day's close, the stock was down 2.2% from its pre-results close. The Other Textile Products industry median moved down 0.5% on the reaction day and was unchanged by the next day's close, leaving Garware Technical Fibres ahead by 1.4 percentage points and 2.2 percentage points, respectively. No five-day or one-month move was available.
Earlier reaction-day moves were mixed: 3.9% on 5 August 2026, negative 3.1% on 20 May 2026, 2.9% on 11 February 2026, negative 3.5% on 7 November 2025 and negative 1.4% on 8 August 2025. The largest move in the listed history was 18.5% on 14 November 2024.
| After the filing | Stock | Other Textile Products median |
|---|---|---|
| 5 minutes | −1.5% | |
| 15 minutes | −2.7% | |
| 30 minutes | −3.3% | |
| Reaction day | +0.9% | −0.5% |
| Next day | −2.2% | +0.0% |
Minutes are measured from the price when the filing appeared; days from the previous close. Source: MarketPing price-reaction measurement.
| Results filed on | Stock on the reaction day |
|---|---|
| 5 August 2026 | +3.9% |
| 20 May 2026 | −3.1% |
| 11 February 2026 | +2.9% |
| 7 November 2025 | −3.5% |
| 8 August 2025 | −1.4% |
| 15 May 2025 | −3.6% |
| 10 February 2025 | −2.1% |
| 14 November 2024 | +18.5% |
Source: MarketPing price-reaction measurement.
How did other Other Textile Products companies do?
Sixty-one Other Textile Products companies were compared for revenue growth, whose median was 22.4%. Of the peer companies, 42 grew more slowly than Garware Technical Fibres and 18 grew faster. Profit was higher at 43 of the 64 companies for which profit was compared, as of 4 November 2026.
| Garware Technical Fibres revenue growth (YoY) | +33.0% |
|---|---|
| Median of 61 other Other Textile Products companies | +22.4% |
| Companies with slower revenue growth than Garware Technical Fibres | 42 of 61 |
| Companies with faster revenue growth than Garware Technical Fibres | 18 of 61 |
| Companies whose net profit rose | 43 of 64 |
Source: Filed results (XBRL) of the industry's companies.
Quick answers
What was Garware Technical Fibres' revenue in Q2 FY27?
Revenue from operations was ₹462.62 crore, up 33.0% from ₹347.90 crore in Q2 FY26 (consolidated).
Did Garware Technical Fibres make a profit in Q2 FY27?
Yes. Net profit was ₹58.56 crore, against a net profit of ₹31.93 crore in Q2 FY26.
What was Garware Technical Fibres' EPS in Q2 FY27?
Basic earnings per share were ₹6.00, against ₹3.22 in Q2 FY26.
How did Garware Technical Fibres shares react to the Q2 FY27 results?
On the reaction day the stock moved +0.9% from the previous close; the median Other Textile Products stock moved −0.5%.
When did Garware Technical Fibres announce its Q2 FY27 results?
On 29 October 2026, in a filing to the BSE.
Sources
- Board Meeting Intimation for Considering, Approving And Taking On Record The Standalone & Consolidated Unaudited Financial Results For The Quarter And Half Year Ended 30Th September, 2026. (BSE, 22 October 2026) · PDF
- Board Meeting Outcome for Outcome Of Board Meeting Held On October 29, 2026 (BSE, 29 October 2026) · PDF
- Outcome Of Board Meeting Held On October 29, 2026 (BSE, 29 October 2026) · PDF
How this was written: every figure in the tables and charts is calculated from the company’s filed results (XBRL) and MarketPing’s price measurements. The text is drafted with AI from those figures and the filings, and a checker removes any sentence carrying a number it cannot trace to them. How we write these.
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