Garware Synthetics (BSE: GARWSYN) had a P/E of 73.3× on 6 Nov 2026, above the industry P/E of 17.0×, and the shares are 25% below their 52-week high. Sales and net profit fell 3.2% and 14% a year over 3 years. Its net worth is negative, as liabilities exceed assets, and borrowings are ₹5.72 Cr. It is a small-cap company with a market cap of ₹13 Cr, ranked 216th of 246 Textile Manufacturing companies by market cap; the shares fell 11% over the past year.
- ₹21.60
- ₹22.00
- ₹21.60
- ₹22.00
- 3
Health check
- ReturnsBehind
−11.3% over a year, better than 1 of 7 peers.
- Price tagNegative equity
Book value is below zero, so P/E and P/B mislead here.
- GrowthShrinking
Sales −3.2%, profit −14.4% a year over 3 years.
- ProfitabilityDistorted
With negative net worth, return ratios are meaningless.
- Balance sheetStretched
Negative net worth: liabilities exceed assets.
- Red flags4 to check
Negative net worth: liabilities exceed assets.
Small cap
High beta
Key metrics
- Market cap
- ₹13 Cr
- Small cap
- P/E
- 73.3
- Industry 17.0
- Price to book
- −8.44
- Peers 3.81
- Dividend yield
- 0.00%
- ROE
- n/a
- Peers 10.1%
- ROCE
- n/a
- Peers 10.7%
- Debt to equity
- n/a
- Debt ₹5.72 Cr
- EPS (TTM)
- ₹0.30
- OPM (TTM)
- 7.4%
- Net margin 1.9%
- Sales growth
- −35.4%
- Latest quarter vs a year ago
- Profit growth
- −154.7%
- Latest quarter vs a year ago
- Price to sales
- 1.36
- EV/EBITDA 25.3
Strengths and risks
Risks to check
- Negative net worth: liabilities exceed assets.
- Quarterly profit down 154.7% on a year ago.
- Quarterly sales down 35.4% on a year ago.
- P/E of 73.3 against an industry P/E of 17.0.
About Garware Synthetics
Garware Synthetics Limited engages in the manufacture and sale of nylon monofilaments, bristles, and fishing line and PP bristles in India. The company offers nylon bristles for use in tooth, shaving, paint, and industrial and household brushes; polypropylene bristles; and nylon fishing line products. It also provides nylon rods, bushes, and machinery parts for use in engineering, textile, metal, material handling equipment, automobile, marine,…
- Headquarters
- Thane
- Employees
- 65
- Sector
- Consumer Cyclical
- ISIN
- INE340D01016
- Website
- garwaresyn.com
Price range
- Avg volume (3M)
- 2.1K
- 1-year return
- minus 11.3%
- From 52-week high
- minus 25.2%
Peers · Textile Manufacturing
| Company | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| KPRMILLK.P.R. Mill | 1,164.40 | minus 0.25% | 39,883 | 38.3 | 6.41 | 20.0% | 18.0% | 22.1% | 2.3% | 2.1% | 0.43% | plus 10.5% |
| WELSPUNLIVWelspun Living | 241.30 | minus 4.75% | 22,717 | 52.8 | 4.47 | 5.8% | 8.8% | 28.7% | 5.7% | 0.9% | 0.04% | plus 96.2% |
| VTLVardhman Textiles | 508.80 | minus 4.89% | 14,729 | 14.3 | 1.38 | 8.6% | 7.3% | 13.7% | −0.8% | −2.1% | 0.98% | plus 22.2% |
| ARVINDArvind | 494.75 | minus 0.58% | 12,969 | 28.4 | 3.10 | 15.4% | 11.1% | 10.9% | 3.4% | 0.8% | 0.91% | plus 57.3% |
| TRIDENTTrident | 23.88 | plus 0.08% | 12,168 | 25.4 | 2.53 | 10.7% | 10.1% | 14.9% | 1.8% | −5.1% | 2.09% | minus 16.6% |
| ICILIndo Count Industries | 489.85 | minus 2.25% | 9,702 | 39.8 | 3.81 | 9.5% | 5.5% | 9.7% | 11.6% | −22.9% | 0.31% | plus 78.7% |
| GARFIBRESGarware Technical Fibres | 715.65 | minus 2.13% | 6,988 | 29.8 | 4.97 | 19.3% | 15.3% | 19.2% | 5.6% | 4.9% | 1.26% | minus 3.9% |
| GARWSYNGarware Synthetics | 22.00 | 0.00% | 13 | 73.3 | −8.44 | – | – | 7.4% | −3.2% | −14.4% | 0.00% | minus 11.3% |
| Median of 7 peers | – | −2.13% | 12,969 | 29.8 | 3.81 | 10.7% | 10.1% | 14.9% | 3.4% | 0.8% | 0.91% | 22.2% |
Quarterly results
| ₹ Cr | Jun 25 | Sep 25 | Dec 25 | Mar 26 | Jun 26 |
|---|---|---|---|---|---|
| 2.6 | 2.8 | 2.5 | 2.4 | 1.7 | |
| 2.4 | 2.5 | 2.2 | 2.4 | 1.7 | |
| 0.3 | 0.3 | 0.3 | 0 | 0 | |
| 9.6% | 10.9% | 13.5% | 1.6% | 1.0% | |
| 0 | 0 | 0 | 0 | 0 | |
| 0 | 0 | 0 | 0 | 0.1 | |
| 0.1 | 0.1 | 0.1 | 0.1 | 0.2 | |
| – | – | – | 0 | 0.1 | |
| 0.1 | 0.2 | 0.2 | −0.1 | −0.1 | |
| – | 34.2% | −3.1% | 2.1% | – | |
| 0.1 | 0.1 | 0.2 | −0.1 | −0.1 | |
| 0.21 | 0.21 | 0.37 | -0.17 | -0.11 |
Profit & loss
- Sales CAGR 3Y
- −3.2%
- Profit CAGR 3Y
- −14.4%
- EPS CAGR 3Y
- −14.7%
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 11.4 | 10.7 | 10.7 | 10.3 | |
| – | minus 6.1% | +0.3% | minus 3.6% | |
| 10.8 | 10.3 | 10.7 | 9.4 | |
| 0.6 | 0.4 | 0.1 | 1 | |
| 4.9% | 3.5% | 0.5% | 9.3% | |
| 0.4 | 0 | 0.3 | 0 | |
| 0.3 | 0.4 | 0.1 | 0.1 | |
| 0.5 | 0.4 | 0.4 | 0.4 | |
| 0.2 | 0.3 | 0.3 | −0 | |
| 0.4 | −0.1 | 0.1 | 0.4 | |
| −63.8% | 66.9% | 80.8% | 13.0% | |
| 0.6 | −0 | 0 | 0.4 | |
| – | minus 108.2% | – | +2686.2% | |
| 1.00 | -0.08 | 0.02 | 0.62 |
Forecast
Balance sheet
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 5.8 | 5.8 | 5.8 | 5.8 | |
| −7.8 | −7.9 | −7.8 | −7.3 | |
| 7.5 | 6.7 | 6.2 | 6.1 | |
| 9.7 | 9.9 | 10 | 9.3 | |
| 15.3 | 14.5 | 14.3 | 13.9 | |
| 12.3 | 11.8 | 11.4 | 11.2 | |
| 0.2 | 0.2 | 0.1 | 0 | |
| 2.8 | 2.5 | 2.7 | 2.7 | |
| 15.3 | 14.5 | 14.3 | 13.9 |
Cash flow
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 0.6 | 0.4 | 0 | −0.1 | |
| −0 | −0 | −0 | −0.2 | |
| −0.5 | −0.4 | −0.1 | 0.3 | |
| 0.1 | −0 | −0.1 | −0.1 | |
| −0 | −0 | −0 | −0.5 | |
| 0.6 | 0.4 | 0 | −0.6 |
Shareholding pattern
This company is listed only on BSE, so there’s no NSE category split. See Major shareholders below for the named holders.
Major shareholders
Filings & events
News
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