Synopsis: Garware Technical Fibres surged 12% after reporting strong Q3FY26 results. Revenue rose 10% YoY to Rs 387 crore, while PAT increased 17% YoY to Rs 56 crore and jumped 75% QoQ. Recovery in aquaculture orders, growth in geosynthetics, and easing US tariff concerns supported an improved profitability outlook.
The shares of this company, which is one of India’s leading players in the technical textiles sector, that manufactures and provides world-class solutions in high-performance polymer ropes, fishing nets, sports nets, safety nets, aquaculture cages, coated fabrics, agricultural netting and geosynthetics, had its shares in momentum today after the company reported a 75% jump in PAT.
With the market cap of Rs 7,383 crore, the shares of Garware Technical Fibres Ltd have gained about 12% and reached a high at Rs 773.35, compared to their previous day’s closing price of Rs 689.40. The shares are trading at a PE of 34.8, whereas its industry PE is at 19.8.
Q3 FY26 Result highlights
The revenue from operations for the company stood at Rs 387 crore when compared to Rs 351 crore in Q3 FY25, growing by about 10 per cent on a YoY basis and on a QoQ basis growing by 11 per cent from Rs 348 crore in Q2 FY26.
The PAT jumped by about 17 per cent on a YoY basis when you compare the Q3 FY26 profit at Rs 56 crore to Rs 48 crore in Q3 FY25 and on a QoQ basis has grown 75 per cent from Rs 32 crore in Q2 FY26.
The management stated that Q3FY26 represents a recovery period for the company after a challenging Q2, as it suffered from a one-time fall in North European salmon aquaculture orders. Order inflows were regular, and the company is concentrating on delivering maximum orders in terms of shipping and billing in the remainder of FY26. The company received support from robust growth in Chile, strong growth in the international value-added ropes segment, and good growth in the home market.
Besides, the company still suffers from import duties in Q3, which will be applicable in Q4 as well. Despite the short-term margin headwinds, the outlook is again constructive. Strong profitability and ROCE growth in geosynthetics, along with good responses to newly launched products in Norway, which are giving healthy orders from key customers, are positives. With increased visibility in the salmon aquaculture business and US tariff concerns now alleviated, margins should normalise, and healthy profitability growth can resume next year.
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