Management Team
Mr. V.R. Garware, Chairman & Managing Director
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Journey Began
Established in 1976
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Product Portfolio
Manufactures technical textiles,provides application-focused solutions for various sectors including deep-sea fishing, aquaculture, shipping, agriculture, sports, infrastructure, defence and transportation.
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Manufacturing Facilities
Has integrated manufacturing facilities in Pune and Wai
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Global Clientele
Garware has customers across all continents, in over 75 countries. It has dominant share of markets in North America and parts of Europe and Australia, for several products.
Expansion Plans
In FY 2015-16,the company’s presence was deepened with products that met demanding specifications in the South American, Northern Europe and Mediterranean markets. In the domestic market, the company set a new benchmark for safety nets in the construction sector, promoted its solutions for protected cultivation in agricultural sector and devised products for optimizing efficiencyin the fisheries sector. All these efforts led to addition of new customers and reinforcement of relations with existing customers
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Financial Performance
GWRL earned revenue of Rs. 829.20 crores for the year ended 31st March, 2016, as against Rs. 786.60 crores of previous year. Domestic sales amounted to Rs. 449.04 crores, and exports was Rs. 380.16 crores. Its net profit after tax was Rs. 61.88 crores, 43.7% higher than the figure recorded in the previous year.
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Innovations and R&D
The highlight of the company’s efforts in this direction in FY 2015-16 was X2, a next-gen material used in the manufacture of ropes for towing, mooring and fishing. Lighter than ropes conventionally used for these applications, X2 ropes provide greater ease of handling with high strength and durability. X2 ropes make operations easier on ships and boats, and are also very useful in aquaculture. Other GWRL innovations included a highly reliable rope to lower and raise submersible water pumps, a strong and relatively lightweight rope to string transmission cables across broad rivers, and pond lining that can prevent seepage and withstand pressures in large and deep water-harvesting structures. The company is currently working on some more cutting-edge technology areas with revolutionary potential in the domain of technical textiles.