Garware Technical Fibres (Earlier: Garware Wallropes)

Now that the different products offered are known, is the replacement cycle for all of them known?

@ranvir, @basumallick

Since you were doing some analysis on the repeat / replacement demand in this Industry, is there something you can share around this? Thanks!

I have already mentioned it above in the thread. 3-4 yrs for nets and 8-12 yrs for cages. Sports nets last for 1-2 yrs depending on usage. Most of their products have a high lifespan.


ICICI Initiating coverage ::

Garware Tech .pdf (1.3 MB)


Fantastic qtr by Garware tech… Unmatchable performance.

Disc - holding from much lower level.


Now that the ocean freight rates to most markets (read NAM and NEUR) have eased out, the company is finding it easy to resume exports to their major customers. In fact now that the Ukraine Russia war has moved hinterland from Mediterranean sea, I would expect the fishing in that region to resume i.e. Not surprising that they resume selling to major Russian customers.

This trend will only increase with the winter setting in, which will see an increase in Salmon fishing across the northern hemisphere. Again, this is my math. I could be wrong and would love to be challenged.

Disclaimer - Invested since Feb 2020


There are umpteen applications of technical fibres. Found the following usage. If adapted widely this can be a strong vertical of companies like Garware Technical Fibres.

Australian city Kwinana uses drainage nets to stop waste from polluting waterways.



I have received an email from company regarding buyback and i am surprised that although I have been holding shared an year before the record date, yet none of my shares are eligible for buyback, why would that be? Wouldn’t I be regarded as a small shareholder?
What is the way they are distinguishing between small and general shareholders?

The cfo resigned some days ago, and the stock has been falling since some time, are there any corporate goverance issues?

The results of Q3 will be impacted due to 40% hike in rental tax demanded by Samlon farmers in Norway. Norway is a very biggest market for Salmon farming. Some kind of value migration will happen in other countries like Chile, Scotland and Canada which may take some time. It’s a passing shower and won’t impact structurally.

With regards to CFO exit, the exit was because of better career opportunity with Granules India.

Price correction could be because of expectation of flattish FY23E PAT over FY22.


Anybody tracking the latest development with Garware Technical?

Looks like the company has already started doing something like this.

via Annual Report 2022-23



Guys honest question. The raw materials they use are crude oil derivatives. I’ve always had this query - if a company is using crude oil derivatives and if/when the entire world is moving towards renewables what would happen to these companies??
Isn’t this a big risk - that potentially in 10-15 years the company may be out of business just because it requires crude derivatives?

That’s my thought process - just wanted some rational arguments. Apart from that the company is phenomenal

Crude Production is not going to stop. Crude derivatives and feedstocks are required across chemicals, fertilizers, CNG, LNG, textiles and plastics industries for next few decades even beyond 2070. There are no large scale and viable options for removing derivatives from these markets. Only impact is on fuels for vehicles.


Buyback again



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