Company Overview

Garware Technical Fibres Limited (GTFL) is a leading player in the field of technical textiles with a mission to provide innovative, application-focused solutions to enhance value for customers globally. The company has a global presence across multiple business segments.

Business Segment Performance

Aquaculture Business

  • GTFL is a pioneer in HDPE cage net solutions with more than 30,000+ cage nets supplied globally since 2010
  • Provides application-focused solutions addressing key challenges: bio-fouling management, predation, reduction in divers' time
  • Focuses on key properties: lower environmental footprint, sustainability, strength retention over longer period, stiffness
  • Innovative net solutions to reduce divers' time and improve fouling resistance
  • Addressing CO2, microplastic, and recycling concerns

Global Salmon Market Context

  • Salmon consumption grew by 10% in 2025
  • Industry expects low global supply growth in 2026
  • Value of salmon sold increased by 98% from 2014 to 2024
  • 8% demand CAGR past 10 years vs 3% supply growth
  • In top 10 salmon markets, consumption per capita varies from 0.1 kg WFE to 3.8 kg WFE in France
  • Norway, Sweden and Finland show consumption between 6-8 kg WFE, indicating significant growth potential

Value Added Ropes (VAR) Business

  • Products include: UHMWPE, Fabricated Slings, High Strength Polyolefin (X2)
  • Application segments: Mooring, Towing, Offshore, Transmission, Defense
  • Customer segments: Ship management companies, Tug boat operators, Transmission companies
  • OTS acquisition strengthens brand and presence in industry
  • Overall VAR segment moving forward as targeted
  • NPD (New Product Development) drive helping to secure new customers

Geosynthetics Business

  • Polymer-based materials used in infrastructure solutions for environmental friendliness and lower overall cost
  • Applications include: Slope Protection, Coastal Protection, Rockfall Protection
  • Strong topline and profit growth continues in FY 2026
  • Strong performance in Landfill & Lining business & slope protection segments
  • Strong order book provides strengthened visibility for next year
  • Focus on both domestic and international markets
  • New product drive ongoing

Project Highlights

  • Mountain Protection Project: Installed 17,000 sqm of High Strength Boulder Net system for rockfall protection
  • Completed Phase-1 of first-of-its-kind Ash Pond Lining Work on large scale for 600 MW power plant
  • Slope retaining works and rock fall barrier works demonstrated

Growth Drivers and Forward Path

  • Railways: FY27 Indian Railways capex of ₹2.8 lakh crore opens opportunities for track bed reinforcement and ballast reduction
  • Landfill & Lining: Stricter hazardous waste and landfill compliance norms expected to expand demand
  • Roads & Tunnels: ₹3.9 lakh crore MoRTH capex, Bharatmala's 34,800 km plan, and new corridors create scope for slope stabilization, subgrade reinforcement, and tunnel waterproofing

Sustainability Initiatives

  • 65% of power from renewable sources
  • 65% of waste produced is recycled
  • 24% reduction in water consumption
  • Waste sold to other recyclers
  • Reduction in GHG emissions
  • Reduction in fossil fuel consumption

CSR Initiatives

  • Garware Youth Development Centre - Wai (Started October 2023)
  • Implementation Partner: Seva Sahayog Foundation
  • Objectives: Skill development for underprivileged youth, improved employability, guidance for placement & entrepreneurship
  • Current updates: 333 beneficiaries completed Foundation Course, 283 in skilling courses, 127 obtained jobs/started own businesses
  • Courses include Fashion Designing and Beautician training

Leadership Team

  • Mr. Vayu R Garware: Chairman & Managing Director with over two decades of experience
  • Mr. Shujaul Rehman: Chief Executive Officer
  • Mr. Shashank Gupta: Chief Financial Officer with more than 20 years experience in finance nationally & internationally
  • Mr. Tiru Kulkarni: Over two decades in global geosynthetic industry, ex-board member of IGS (India), authored technical papers
  • Dr. Sanjay Charati: More than 30 years of global technology development experience, led multinational teams across 3 continents
  • Mr. Vivek Kulkarni: President & Head of R&D, President - Operations with more than 30 years manufacturing experience