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Garware Synthetics Ltd (514400)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 514400 NSE: Textile - Spinning | Small Cap | Garware Synthetics Share Price

₹17.80 -0.90 (-4.81%)

As on 04-Jun'26 16:59

Garware Synthetics Ltd (514400)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 514400 NSE: Textile - Spinning | Small Cap | Garware Synthetics Share Price

₹17.80 -0.90 (-4.81%)

As on 04-Jun'26 16:59

Key Metrics
Valuation Multiples
Market Cap
₹10 Cr.
Current Price
₹17.8
52-Week Low / High
₹12 / 30
TTM EPS
₹0.6
TTM Sales
₹10.3 Cr.
Book Value per Share
₹14.5
P/E Ratio
28.48
Higher than its 5-year historical median
Industry PE
21.5
Price to Book (P/B)
1.23
Higher than its 5-year historical median
Price to Sales (P/S)
1.00
Higher than its 5-year historical median
EV/EBITDA
16.56
Lower than its 5-year historical median
Dividend Yield
0.00%
Profitability Efficiency
Return on Equity (ROE)
0.00%
In line with industry median
Return on Capital Employed (ROCE)
5.45%
Underperforms industry median
Return on Assets (ROA)
0.09%
Operating Profit Margin
0.5%
Net Profit Margin
0.12%
Gross Profit Margin
2.1%
Growth Momentum
1-yr vs 3-yr growth
Sales Growth (1 Year)
Improving versus 3-year growth rate
0.28%
Operating Profit Growth (1 Year)
Slowing versus 3-year growth rate
-86.49%
Net Profit Growth (1 Year)
-
-
Asset Quality
Promoter Holding
45.78%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹3 Cr.
Equity
₹5.8 Cr.
Face Value
₹10
All Time Low / High
₹0.10 / 43.00

Garware Synthetics stock performance

Key Ratios
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Check Before You Invest

M-Cap below 100cr DeciZen not available

Q.1 Is Garware Synthetics Ltd a good quality company?
Garware Synthetics 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.

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.

How does Garware Synthetics Ltd performance compare with that of its Peers?
Q.1 Revenue growth of Garware Synthetics Ltd vs industry peers?
Garware Synthetics Ltd revenue CAGR is 3.33%, compared to the industry median CAGR of 1.47%, indicating faster growth and gaining its market share.
Q.1 Promoter shareholding and pledge status of Garware Synthetics Ltd?
Promoters hold 45.78% of the Garware Synthetics Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Q.1 Stock return of Garware Synthetics Ltd over the last decade?
Over the last 9 year(s), the stock has delivered a CAGR of 7.1% based on the current price.

10 Year X-Ray : Login to view analysis.

Analysis of Financial Track Record (Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end)

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Garware Synthetics Ltd has performed well in some of the past ten years indicating its past ten year financial track record is somewhat good

Value Creation

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
ROCE % 16.7%28.2%8.4%-13%2.7%10.2%11.7%10.2%6.1%5.5%-
Value Creation
Index
0.21.0-0.4NA-0.8-0.3-0.2-0.3NANA-

Growth Parameters

Sales 7.98.59.610.69.18.312.711.410.710.710
Sales YoY Gr.-8.1%12.4%10.8%-14.4%-9.2%53.6%-10.2%-6.1%0.3%-
Adj EPS 0.30.80.6-0.60.210.30.7-0.4-0.30.6
YoY Gr.-179.3%-27.2%-193.2%NA426.3%-74%180.8%-156.2%NA-
BVPS (₹) -4.4-3.1-2.7-4.9-4.7-3.7-4.4-3.4-3.6-3.414.5
Adj Net
Profit
0.20.50.3-0.30.10.60.20.4-0.2-0.20
Cash Flow from Ops. 0.10.30.3-1.8-0.50.41.30.60.40-
Debt/CF from Ops. 31.716.741.2-6.9-24.630.3910.413.9125.5-

CAGR

9 Years 5 Years 3 Years 1 Years
Sales 3.5%3.3%-5.5%0.3%
Adj EPS -200.7%-210.3%-206%NA
BVPSNANANANA
Share Price 6.3% 4.6% 28% -16.8%

Key Financial Parameters

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
Return on
Equity %
-7-22.8-20.914.7-4-23.8-6.5-18.711.9911.2
Op. Profit
Mgn %
1.24.85.10.33.212.87.64.93.50.59
Net Profit
Mgn %
2.15.53.6-31.27.11.23.7-2.2-1.73.5
Debt to
Equity
-1.8-2.4-6.4-4.4-4.7-5.8-4.7-3-2.6-2.7-
Working Cap
Days
909193921051229096868338
Cash Conv.
Cycle
-65-56-27831108-0-13-208

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Sales7.908.549.6010.649.118.2712.7011.4010.7010.73
Operating Expenses + 7.818.139.1110.618.827.2111.7310.8410.3310.68
Manufacturing Costs1.161.240.941.321.200.921.291.391.571.65
Material Costs4.214.355.206.034.693.777.176.565.666.02
Employee Cost 1.481.551.562.031.891.471.932.022.212.27
Other Costs 0.950.991.411.231.041.051.340.880.890.73
Operating Profit 0.090.410.490.030.291.060.970.560.370.05
Operating Profit Margin (%) 1.1%4.8%5.1%0.3%3.2%12.8%7.6%4.9%3.5%0.5%
Other Income + 0.290.2800.33000.330.370.020.29
Exceptional Items 000-1.51000.110.220.280.28
Interest 0.140.160.090.200.090.430.590.330.370.11
Depreciation 0.020.010.020.030.030.020.260.470.440.44
Profit Before Tax 0.230.530.38-1.370.180.610.560.35-0.140.07
Tax 0.060.060.0400.070.030.33-0.23-0.100.05
Profit After Tax 0.170.470.34-1.370.110.580.230.58-0.050.01
PAT Margin (%) 2.1%5.5%3.6%-12.9%1.2%7.1%1.8%5.1%-0.5%0.1%
Adjusted EPS (₹)0.30.80.6-2.40.21.00.41.0-0.10.0
Dividend Payout Ratio (%)0%0%0%0%0%0%0%0%0%0%

Valuation of Garware Synthetics - Standalone

YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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Analyst's Notes

data not found
No data found!

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25

Equity and Liabilities

Shareholders Fund + -2.53-1.82-1.47-2.85-2.74-2.15-2.57-1.97-2.08-1.97
Share Capital 5.815.815.815.815.815.815.815.815.815.81
Reserves -8.34-7.63-7.28-8.66-8.55-7.96-8.37-7.78-7.89-7.78
Debt +4.524.4210.1612.4312.9112.4211.995.885.305.12
Long Term Debt4.524.4210.1612.4312.9100.330.240.160.06
Short Term Debt0000012.4211.665.635.155.07
Minority Interest0000000000
Trade Payables2.712.841.952.011.831.722.272.072.252.89
Others Liabilities 7.797.312.741.831.121.525.239.278.888.05
Total Liabilities 12.4912.7513.3813.4213.1313.5016.9215.2514.3514.10

Fixed Assets

Net Fixed Assets +10.4310.4210.5010.4710.4510.4413.5312.2811.8411.43
Gross Block11.3811.3811.4811.4811.4811.4915.0216.7516.7516.78
Accumulated Depreciation0.940.960.981.011.041.061.494.474.915.35
CWIP 0000000000
Investments 0000000000
Inventories0.831.151.191.141.061.051.030.890.870.87
Trade Receivables0.940.891.301.181.101.471.681.471.271.44
Cash Equivalents 0.020.100.230.250.160.040.130.240.220.10
Others Assets 0.270.190.160.370.360.510.550.380.150.27
Total Assets 12.4912.7513.3813.4213.1313.5016.9215.2514.3514.10

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Cash Flow From Operating Activity + 0.140.260.25-1.79-0.520.411.330.570.390.04
PBT 0.230.530.38-1.370.180.610.560.35-0.140.07
Adjustment 0.160.010.131.600.110.450.520.130.21-0.07
Changes in Working Capital -0.17-0.21-0.23-2.02-0.76-0.590.250.020.460.09
Tax Paid -0.08-0.06-0.030-0.06-0.06-00.07-0.13-0.04
Cash Flow From Investing Activity + -0.040.07-0.0600-0.01-0.64-0-0-0.03
Capex -0.02-0-0.10-0-0-0.01-0.64-0-0-0.03
Net Investments 0000000000
Others -0.020.080.040000000
Cash Flow From Financing Activity + -0.20-0.26-0.051.810.43-0.52-0.60-0.46-0.40-0.13
Net Proceeds from Shares 0000000000
Net Proceeds from Borrowing -0.06-0.100.042.010.4800.33-0.08-0.09-0.10
Interest Paid -0.14-0.16-0.09-0.20-0.05-0.03-0.48-0.16-0.25-0.02
Dividend Paid 0000000000
Others 00000-0.49-0.45-0.22-0.06-0.02
Net Cash Flow -0.100.080.130.02-0.09-0.120.090.11-0.02-0.12

Financial Ratio

PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Ratios
ROE (%)N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A
ROCE (%)N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A
Asset Turnover Ratio0.630.680.740.790.690.620.830.710.720.75
PAT to CFO Conversion(x)0.820.550.74N/A-4.730.715.780.98N/A4
Working Capital Days
Receivable Days40.3039.3041.7042.6045.7056.7045.3050.4046.7046.10
Inventory Days3842.2044.50404446.4029.9030.803029.50
Payable Days238.30233.10168.20119.70149.50172.10101.50120.90139.30156

Management X-Ray

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Top 5 Mutual Funds Holding

Last Visited Stocks

Announcements

Garware Synthetics Ltd FAQs

The current trading price of Garware Synthetics on 04-Jun-2026 16:59 is ₹17.80.

Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 03-Jun-2026 the market cap of Garware Synthetics stood at ₹10.34 Cr

The latest P/E ratio of Garware Synthetics as of 03-Jun-2026 is 28.48.

The latest P/B ratio of Garware Synthetics as of 03-Jun-2026 is 1.23.

The 52-week high of Garware Synthetics is ₹30.42 and the 52-week low is ₹11.81.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Garware Synthetics is ₹10.34 ( Cr.) .

Past 10 year's financial track record analysis by Moneyworks4me indicates that Garware Synthetics Ltd is a average quality company.

The key valuation ratios of Garware Synthetics Ltd's currently when compared to its past seem to suggest it is in the Overvalued zone.

The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Garware Synthetics Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.

About Garware Synthetics Ltd

Garware Synthetics was established on September 1, 1969 under the name of Garware Synthetic Bristles Private Limited. It was amongst the first companies in India in the business of manufacturing bristles.

The name of the company was changed to Garware Synthetics Private Limited on September 18, 1974.  On June 8, 1992 company was converted into a public limited company. For over two decades, GSL's products sold under the brand name Garflom

The company’s product portfolio comprise nylon monofilaments and bristles, nylon fishing lines, nylon tubings, extruded nylon rods and pipes, cast nylon rods and bushes, cast nylon machinery parts, moulded components and polytetrafluoroethylene (PTFE) rods.

The company's production capacity has increased from 100 MT per annum in 1969 to 585 MT per annum at present.

Garware Synthetics' registered office is located at 101 Madhu Kunj, Plot No 285, Shree-e-Punjab Society, Mahakali Caves Road, Andheri (E), Mumbai 400093.

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