Speaking on the results, Mr. Vayu Garware CMD Garware Wall Ropes said, "FY 18 has started off well with healthy growths in our differentiated product portfolio. A focused approach to increasing our reach and market penetration in international markets has shown results in the first quarter. In the domestic markets, while overall growth is positive, there are some challenges in the implementation of GST which we expect will smoothen out over the coming months. Overall profit growth continues to be on plan".

Performance for 12 months ended Mar 17

For the 12 months ended Mar 17, net sales were up by 5% to Rs 867.74 crore. OPM was higher by 280 bps to 15.5% resulting in a 28% increase to Rs 134.65 crore. Other income stood at Rs 7.74 crore as compared to Rs 3.46 crore for 12 months ended Mar 16. Interest costs were lower by 26% to Rs 6.42. Depreciation was up by 8% to Rs 14.13 crore. PBT was higher by 40% to Rs 121.84 crore. After providing total tax of Rs 38.56 crore, PAT for 12 months ended Mar 17 stood at Rs 83.28 crore up by 35% YoY.