Garware Reports PAT Of Rs 32 Cr For Q2 FY26, Announces Rs 8 Dividend
Garware Technical Fibres Ltd., a leading manufacturer of technical textiles for domestic and international markets, announced its unaudited consolidated financial results for the quarter and half-year ended September 30, 2025.
The company reported a decline in performance during Q2 FY26, primarily due to softer demand in the North European Salmon Aquaculture sector, which affected order flow and sales recognition during the quarter.
For Q2 FY26, consolidated net sales stood at Rs 347.9 crore, down 17.3% from Rs 420.6 crore in the same period last year. Profit before tax fell to Rs 45.7 crore, compared to Rs 87.7 crore in Q2 FY25. The company reported a net profit after tax of Rs 31.99 crore for the quarter, as against Rs 66 crore in the corresponding period of the previous year. EPS for the quarter stood at Rs 3.22.
For the first half of FY26, the company posted consolidated net sales of Rs 715.1 crore, representing a decline of 5.5% compared to Rs 756.8 crore in H1 FY25. Profit before tax for the period stood at Rs 116 crore, lower than Rs 149.7 crore reported in the same period last year. Net profit after tax for H1 FY26 was Rs 85.1 crore, as against Rs 112.7 crore in H1 FY25. EPS for the first half was reported at Rs 8.57. The Board of Directors declared an interim dividend of Rs 8 per equity share.
Commenting on the results, Vayu Garware, Chairman and Managing Director, said that the quarter’s performance was significantly impacted by delays in capital expenditure decisions in the North European Salmon Aquaculture industry, leading to subdued orders in the first half. However, he noted that order flows have started normalizing in Q3, and the company expects to recover a significant portion of the backlog by year-end.
He highlighted strong demand from Chile, which has led to a sharp increase in goods in transit to the Americas. These shipments will be billed locally in Q3 and Q4, temporarily impacting inventory and cash flows in Q2. He added that new product launches in Norway have received strong initial market response, and expansion to additional markets is planned.
Garware also noted that U.S. tariffs have exerted some pressure on margins in the Sports Nets segment, though the company has retained all key customers. The Geosynthetics business continued to deliver strong profitability and healthy ROCE. The acquisition of OTS Norway was completed during the quarter and has been consolidated into the company’s financials. With improving visibility in the aquaculture segment, the company expects a stronger performance in the second half of the fiscal year.
