BQ Prime’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BQ Prime’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
Garware Technical Fibres Ltd. reported steady revenue growth with QoQ margin improvement.
Revenue grew 26% YoY to Rs 356 crore. However, lower gross margins (down 352 basis points YoY to 66.1%) impacted profitability.
Positive operating leverage led to lower employee cost to sales ratio (declined 104 bps YoY) and lower other expenses to sales ratio (declined 182 bps YoY), which restricted the decline in Ebitda margin to 66 bps YoY to 17.4%.
Garware Technical Fibres’ absolute Ebitda increased 22% YoY to Rs 62 crore. Higher depreciation and interest expense along with lower other income on a YoY basis led to net profit growth being restricted to 17% YoY to Rs 48 crore.
Click on the attachment to read the full report:
DISCLAIMER
This report is authored by an external party. BQ Prime does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BQ Prime.
Users have no license to copy, modify, or distribute the content without permission of the Original Owner.
