Check Before You Invest : Garware Marine Industries Ltd

Q: Which industry/sub-sector does Garware Marine Industries Ltd belong to?

Garware Marine Industries Ltd belongs to the Textiles & Apparels sector, operating specifically within the Textile segment.

Q: Is Garware Marine Industries Ltd a good quality company?

Garware Marine Industries Ltd is a quality company, based on a multi-year financial track record. This assessment is based on company’s performance on Revenue growth, ROCE, Equity and Assets, key margin ratios, cash conversion cycle, and debt to cash flow from operations and how it compares with its long term averages.

Q: Is Garware Marine Industries Ltd undervalued or overvalued?

Garware Marine Industries Ltd appears Overvalued, as its key valuation ratios are higher than their past averages. Based on the industry it operates in, the relevant valuation ratios include one of the following, P/E, P/BV, P/Sales, EV/EBITDA or a combination of two or more. Valuation Ratios. Price to Earnings, Current: 86.38, Historic Median: 32.00. Price to Book, Current: 1.23, Historic Median: 0.69. Price to Sales, Current: 11.79, Historic Median: 5.73. EV to EBITDA, Current: 79.81, Historic Median: 31.63

Q: Is Garware Marine Industries Ltd a good buy now?

Garware Marine Industries Ltd is not a good buy now, based on weak price trend analysis suggesting prices may fall. However, you need to check its quality and valuation before making a decision

Q: Revenue growth of Garware Marine Industries Ltd?

Garware Marine Industries Ltd revenue growth is 81.8% for FY-2025, which is above its 5-year CAGR of 1.39%, indicating faster growth.

Q: Gross Profit margin of Garware Marine Industries Ltd?

Garware Marine Industries Ltd Gross profit margin which is the profit after deduction of direct costs, is 36.3% for FY-2025, which is above its 5-year median of 9.7%, indicating increasing margins.

Q: Operating Profit Margin of Garware Marine Industries Ltd?

Garware Marine Industries Ltd Operating Profit Margin which is the profit after deduction of all operating costs, is 36.14% for FY-2025, which is above its 5-year median of 9.7% indicating increasing margins.

Q: Net Profit Margin of Garware Marine Industries Ltd?

Garware Marine Industries Ltd Net Profit Margin is 35.9% for FY-2025, is above its 5-year median of 9.46%, indicating increasing margins. Profitability Metrics. Gross Profit Margin (%), Current: 36.3, Historic Median: 9.7. Operating Profit Margin (%), Current: 36.14, Historic Median: 9.7. Net Profit Margin (%), Current: 35.9, Historic Median: 9.46

Q: Return on Asset of Garware Marine Industries Ltd?

Garware Marine Industries Ltd Return on Asset is 2.81%, which is above its 5-year historical median of 1.18%, indicating improved asset utilization efficiency.

Q: Return on capital employed (ROCE) of Garware Marine Industries Ltd?

Garware Marine Industries Ltd Return on capital employed is 3% for FY-2025, which is above its 5-year historical median of 1.23%. The current ROCE is below its estimated weighted average cost of capital (WACC) of 14%, indicating value preservation.

Check Before You Invest : Garware Marine Industries Ltd

BSE: 509563 NSE: ISIN: INE925D01014

| Sector: Textiles & Apparels | Industry: Textile

Snapshot

Q.1 Which industry/sub-sector does Garware Marine Industries Ltd belong to?

Garware Marine Industries Ltd belongs to the Textiles & Apparels sector, operating specifically within the Textile segment.

Q.2 Is Garware Marine Industries Ltd a good quality company?

Garware Marine Industries Ltd is a quality company, based on a multi-year financial track record.

This assessment is based on company’s performance on Revenue growth, ROCE, Equity and Assets, key margin ratios, cash conversion cycle, and debt to cash flow from operations and how it compares with its long term averages.

Q.3 Is Garware Marine Industries Ltd undervalued or overvalued?

Garware Marine Industries Ltd appears Overvalued, as its key valuation ratios are higher than their past averages.

Based on the industry it operates in, the relevant valuation ratios include one of the following, P/E, P/BV, P/Sales, EV/EBITDA or a combination of two or more.

Valuation Ratios	Current	5-year Historic Median
Price to Earnings	86.38	32.00
Price to Book	1.23	0.69
Price to Sales	11.79	5.73
EV to EBITDA	79.81	31.63

Q.4 Is Garware Marine Industries Ltd a good buy now?

Garware Marine Industries Ltd is not a good buy now, based on weak price trend analysis suggesting prices may fall. However, you need to check its quality and valuation before making a decision

Performance Analysis

We have analysed the performance of the company on the following:

How has it performed on generating Profits?
By checking its Revenue growth, Gross, Operating and Net Margins compared to its last 5-year median.
How efficiently has it utilized Capital?
By checking its ROCE, ROA, ROE and its Cash Conversion Cycle.
How is it managing its Debt?
By checking its Debt to Equity and Cash Flow from Operations.

A: What are the trends in revenue and profit margins?

Q.1 Revenue growth of Garware Marine Industries Ltd?

Garware Marine Industries Ltd revenue growth is 81.8% for FY-2025, which is above its 5-year CAGR of 1.39%, indicating faster growth.

Q.2 Gross Profit margin of Garware Marine Industries Ltd?

Garware Marine Industries Ltd Gross profit margin which is the profit after deduction of direct costs, is 36.3% for FY-2025, which is above its 5-year median of 9.7%, indicating increasing margins.

Q.3 Operating Profit Margin of Garware Marine Industries Ltd?

Garware Marine Industries Ltd Operating Profit Margin which is the profit after deduction of all operating costs, is 36.14% for FY-2025, which is above its 5-year median of 9.7% indicating increasing margins.

Q.4 Net Profit Margin of Garware Marine Industries Ltd?

Garware Marine Industries Ltd Net Profit Margin is 35.9% for FY-2025, is above its 5-year median of 9.46%, indicating increasing margins.

	Current Level	5-year Historic Median
Gross Profit Margin (%)	36.3	9.7
Operating Profit Margin (%)	36.14	9.7
Net Profit Margin (%)	35.9	9.46

B: Does the business utilize capital efficiently?

Q.5 Return on Asset of Garware Marine Industries Ltd?

Garware Marine Industries Ltd Return on Asset is 2.81%, which is above its 5-year historical median of 1.18%, indicating improved asset utilization efficiency.

Q.6 Return on capital employed (ROCE) of Garware Marine Industries Ltd?

Garware Marine Industries Ltd Return on capital employed is 3% for FY-2025, which is above its 5-year historical median of 1.23%. The current ROCE is below its estimated weighted average cost of capital (WACC) of 14%, indicating value preservation.

Q.7 Return on Equity (ROE) of Garware Marine Industries Ltd?

Garware Marine Industries Ltd Return on equity is 2.97% for FY-2025, which is above its 5-year historical median of 1.21%, indicating the business is making better use of its shareholders capital.

Q.8 Cash conversion cycle of Garware Marine Industries Ltd?

Garware Marine Industries Ltd Cash conversion cycle is 1387 days, above its 5-year historical median of 1289 days, indicating deteriorated working capital management. However, you need to compare this with its peers in the industry.

	Current Level	5-year Historic Median
Asset Turnover (x)	0.08	0.13
ROE (%)	2.97	1.21
ROCE (%)	3	1.23
Cash Conversion Cycle	1387 days	1289 days

C: How much debt does the business have and is it at a sustainable level?

Q.9 Debt to Equity ratio of Garware Marine Industries Ltd?

Garware Marine Industries Ltd Debt-to-Equity ratio is 0.00, which is lower the industry average of 0.42, indicating lower debt levels in the industry.

Q.10 Debt to cash flow from operations of Garware Marine Industries Ltd?

Garware Marine Industries Ltd Debt to cash flow from operations is 0, which is at a healthy level.

Ownership & governance

D: Promoter shareholding and pledge status of Garware Marine Industries Ltd?

Q.1 Promoter shareholding and pledge status of Garware Marine Industries Ltd?

Promoters hold 37.55% of the Garware Marine Industries Ltd, with 0.00% of their stake pledged, indicating no pledge risk.

Peer comparison (industry-wise, mcap)

E: How does Garware Marine Industries Ltd performance compare with that of its Peers?

Q.1 Revenue growth of Garware Marine Industries Ltd vs industry peers?

Garware Marine Industries Ltd revenue CAGR is 1.39%, compared to the industry median CAGR of 0%, indicating faster growth and gaining its market share.

Profit Metrics

	Current Level	5-year Industry Median
Revenue Growth (%)	81.8	-
Gross Profit Growth (%)	0	9.1
Operating Profit Growth (%)	0	8.5
Net Profit Growth (%)	0	13

Operating Efficiency

	Current Level	5-year Industry Median
Asset Turnover (x)	0.08	0.95
ROE (%)	2.97	4.34
ROCE (%)	3	7.56
Cash Conversion Cycle (days)	1386.73	101

Valuation & price assessment

Q.1 Stock return of Garware Marine Industries Ltd over the last decade?

Over the last 9 year(s), the stock has delivered a CAGR of 1.3% based on the current price.

	9Y	5Y	3Y	1Y
Share Price CAGR	1.3%	35.5%	35.8%	-5.5%

Q.2 Valuation ratios of Garware Marine Industries Ltd vs historical?

The current P/E ratio of 86.38 is higher than its historical median of 32.00, indicating that the stock is trading above its historical average valuation.

Q.3 How do the current valuation ratios compare with 5-year historical median and industry numbers?

Valuation Ratios	Current	5-year Historic Median	5-year Industry Median
Price to Earnings	86.38	32.00	20.16
Price to Book	1.23	0.69	1.32
Price to Sales	11.79	5.73	1.06
EV to EBITDA	79.81	31.63	9.31

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Check Before You Invest : Garware Marine Industries Ltd

Snapshot

Performance Analysis

Ownership & governance

Peer comparison (industry-wise, mcap)

Profit Metrics

Operating Efficiency

Valuation & price assessment

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