Buy Garware Technical Fibres, target price Rs 3695: ICICI Direct

ICICI Direct has buy call on Garware Technical Fibres with a target price of Rs 3695. The current market price of Garware Technical Fibres is Rs 3169.65. Time period given by analyst is one year when Garware Technical Fibres Ltd. price can reach defined target.

Garware Technical Fibres Ltd., incorporated in the year 1976, is a Mid Cap company (having a market cap of Rs 6546.17 Crore) operating in Textiles sector.

Garware Technical Fibres Ltd. key Products/Revenue Segments include Textiles, Contracts, Scrap, Raw Materials and Other Operating Revenue for the year ending 31-Mar-2021.



Financials
For the quarter ended 31-03-2022, the company reported a Consolidated Total Income of Rs 361.13 Crore, up 15.40 % from last quarter Total Income of Rs 312.95 Crore and up 5.87 % from last year same quarter Total Income of Rs 341.11 Crore. Company reported net profit after tax of Rs 53.89 Crore in latest quarter.



Promoter/FII Holdings
Promoters held 52.62 per cent stake in the company as of 31-Mar-2022, while FIIs owned 7.42 per cent, DIIs 5.48 per cent.