Speaking on the results, Mr. Vayu Garware, CMD, Garware-Wall Ropes Ltd. said, "The third quarter performance was good in light of a downturn in domestic demand due to demonetization. However the team was able to counteract this through a good growth in export sales and improved mix of our value added products in the overall product basket. With signs of domestic demand picking up and coupled with a strong export order pipeline, we should see the company continuing its past growth trend". 

Performance for 9 months ended Dec'16

For the 9 months ended Dec'16, net sales were up by 2% to Rs 652.23 crore. OPM was higher by 340 bps to 15.4% resulting in a 30% to Rs 100.34 crore. Other income stood at Rs 7.23 crore as compared to Rs 2.26 crore for 9 months ended Dec'15. Interest costs were lower by 33% to Rs 4.54. Depreciation was up by 9% to Rs 10.54 crore. PBT was higher by 47% to Rs 92.49 crore. After providing total tax of Rs 28.86 crore, PAT for 9 months ended Dec'16 stood at Rs 63.63 crore up by 43% YoY.