GARWARE TECH FIBRES Share price

GARWARE - WALL ROPES LIMITED was incorporated as a PublicLimited Company on April 1 1976 with the Registrar ofCompanies Maharashtra at Bombay. It received theCertificate of Commencement of Business dated 30thSeptember 1976. It was promoted by Garware FilamentCorporation Pvt. Ltd. and Wall Industries Inc. U.S.A.Garware Filament Corporation Pvt. Ltd. was established in1960 and was one of the leading manufacturers of syntheticcordage in India. Pursuant to an agreement dated September14 1977 entered into between the Company and GarwareFilament Corporation Pvt. Limited the entire cordagemanufacturing business including building plant andmachinery of Garware Filament Corporation Pvt. Limited wasacquired by the Company. The technology for the manufactureof 8 strand ropes was obtained by the Company from WallIndustries Inc. The technical collaboration with WallIndustries Inc. ended in 1982. In 1987 when WallIndustries Inc. divested its 11% stake in the Company 55%of the shares were taken up by the promoters and the restwere offered to the other shareholders. Garware FilamentCorporation Ltd. has changed its name to Garware CapitalMarkets Ltd. on June 03 1994.PRESENT BUSINESS OF THE COMPANYThe Company is presently engaged in the manufacture ofsynthetic yarn cordagetwine and Fishnet webbings. TheCompany is one of the largest manufacturers of syntheticcordage in India. The Company has increased its installedcapacity for the manufacture of Ropes Twine & Yarns from12500 MT per annum as on 31st March 1994 to 15160 MT perannum as on 31st March 1995 as part-implementation of thepresent expansion programme undertaken by the Company. Thepresent establishment in Chinchwad Pune hasstate-of-the-art technology for manufacturing ropes twineand fishnet webbings. Alongwith ropes and twine theCompany also manufactures Polypropylene Multi Filament Yarn(PPMF).The Company has been well established in the business ofmanufacturing and marketing of Synthetic Cordage for thelast 17 years. Over this period the Company has set up anationwide marketing network of Regional Offices and SalesOffices which oversee the activities of the Company''snetwork of Distributors Agents and Sub-Agents. Garware-WallRopes Limited is also a recognised Export House and has beenthe pioneer exporter of synthetic cordage. It has been arecepient of export awards from the Central and StateGovernments and Plexconcil.The Company has received the "Top Exporter" awardfrom Plexconil for the years 1978-79 to 1980-81 and1982-83 to 1992-93 "Outstanding Export Performance"award from Government of India Department ofCommerce for the year 1980-81 and Certificate forExport Recognition" from State Committee for ExportPromotion Maharashtra State for the years 1981-821985-86 to 1986-87 1989-90 to 1991-92.Its products are sold under the well known brand name of''Garfil'' which commands a price premium in the market. Toachieve greater value addition and forward integration ithas diversified into the manufacture of fishnet webbingswith a capacity of 700 MT per annum as on March 31 1994which has been increased to 1200 MT per annum as on March 31 1995..The installed capacities of various products as on March 31 1995 are as detailed below:PRODUCTS M TSynthetic Ropes Twine & Yarns 15160Fishnet Webbings 1200MACHINE BUILDING DIVISIONThe Company manufactures some of its own criticalmachinery in an in-house machine building division.The machinery manufactured in-house include RopeMaking Machines 30 Position Poolers Danline WindersCoiling Machines Fishnet Machines Spool WindersWinch Machines Yarn Accumulators etc.