GARWARE TECHNICAL FIBRES LIMITED — Board/Management Information 2021

Nov 11, 2021

GTFL:SEC:2021 November 11, 2021

\l-

BSE Limited Corporate Relationship Department, New Trading Ring, Rotunda Building, P. J. Towers, Dalal Street, Fort, Mumbai 400001. (Company code: 509557)

National Stock Exchange of India Ltd. Exchange Plaza, Plot No. C/1, 'G' Block, Bandra-Kurla Complex, Bandra East, Mumbai 400051. (Symbol: GARFIBRES, Series: EQ)

Dear Sirs,

Sub: Outcome of Board Meeting held on 11th November, 2021 including the Unaudited Standalone & Consolidated Financial Results for the quarter and half year ended 30th September, 2021

We refer to our letter dated 03rd November, 2021 and inform that the Unaudited Standalone & Consolidated Financial Results for the quarter and half year ended 30th September, 2021 were taken on record and approved by the Board of Directors of the Company at its meeting held today i.e. Thursday, t t" November, 2021.

We refer to the Regulations 30 and 33 of Securities and Exchange Board of India (Listing Obligation and Disclosure Requirements) Regulations, 2015 and accordingly enclosed herewith:

• a. The Unaudited Standalone & Consolidated Financial Results for the quarter and half year ended 30thSeptember, 2021.
• b. Limited Review Report on the Unaudited Standalone & Consolidated Financial Results for the quarter and half year ended 30thSeptember, 2021.

Pursuant to Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015; we wish to inform that as per the recommendation of Nomination and Remuneration Committee, the Board of Directors of the Company at its meeting held today have resolved,

• a) To re-designate I appoint Dr. Shridhar Shrikrishna Rajpathak (DIN 00040387) (currently a Non-Executive Non-Independent Director) as a Non-Executive Independent Director of the Company to hold office for a term of five consecutive years with effect from 11th November, 2021 and who shall not be liable to retire by rotation, subject to approval of the Members of the Company.
• b) To appoint Mr. Sanjay Vasudeo Raut (DIN: 07808549) as an Additional Director (Non-Executive and Non-Independent) of the Company with effect from 11thNovember, 2021.

Dr. Shridhar Shrikrishna Rajpathak and Mr. Sanjay Vasudeo Raut are not debarred from being appointed or to continue as Director of company by virtue of any order of Ministry of Corporate Affairs, (MCA), Securities Exchange Board of India, (SEBI) or any other such statutory authority.

The details as required under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and SEBI Circular CIRlCFD/CMD/4/2015 dated 9 th September, 2015 are enclosed herewith as Annexure A.

The Board Meeting was commenced at 03:00 p.m. and concluded at 06.15 p.m.

Trading Window will be re-opened after 48 hours of the conclusion of Board Meeting.

Kindly acknowledge.

Thanking you.

Yours faithfully, For GARWARE TECHNICAL FIBRES LIMITED

.\$..-\

~al Company Secretary M. No. FCS6407

Annexure A

Details under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and SEBI Circular CIR/CFD/CMD/4/2015 dated 9 thSeptember, 2015.

Dr. Shridhar Shrikrishna Rajpathak (DIN 00040387)

Reason for change viz. appointment, resignation, removal or otherwise	Re-designated lappointed as a Non-Executive Independent Director of the Company subject to approval of the Members of the Company.
I Date of Appointment cessation	With effect from 11thNovember, 2021.
Term of Appointment	For a term of five (05) consecutive years with effect from 11thNovember, 2021 and who shall not be liable to retire by rotation
Brief Profile	Dr. Shridhar Shrikrishna Rajpathak is B.Com (Hons), P.G.D.B.M. and M.B.S. (Marketing) degree from University of Pune. He has also been awarded Ph. D. on thesis subject - "A Treatise on Utilization of Fisheries Resources for Sustainable Growth". During his professional carrier of 47 years, Dr. Rajpathak has experience in various functional areas such as accounting and finance, costing, marketing, indirect taxation, export procedure, international laws on taxation, etc. He brings with him expertise in the field of management strategy, export promotion, international business, indirect taxes, policy advocacy and other commercial activities.
	Dr. Rajpathak is an Executive Committee Member of the Indian Fishnet Manufacturers Association, Chennai and Chairman of 'Cordage and Fishnet Panel' of Plastic Export Promotion Council, sponsored by Ministry of Commerce, Govt. of India. He is sharing his industry experience as Associate Professor and member of Board of Studies in a UGC approved premier institute, Sri. Balaji University, Pune, Maharashtra, in the field of 'International Business.
Disclosure of relationships between directors	Dr. Shridhar Shrikrishna Rajpathak is not related to any Directors on the Board.

Mr. Sanjay Vasudeo Raut (DIN: 07808549)

Reason for change viz.	Appointment of Mr. Sanjay Vasudeo Raut	as an Additional Director
appointment, resignation,	(Non-Executive and Non-Independent) of the Company
removal or otherwise
Date of Appointment t	With effect from 11thNovember, 2021.
Gessation
Term of Appointment	As an Additional Director	As Non-Executive Director
	Mr. Sanjay Vasudeo Raut shall hold	liable to retire by rotation
	office up to the date of ensuing AGM of
	the Company or the last date on which
	the AGM of the Company should have
	been held, whichever is earlier.
Brief Profile	Mr. Sanjay Vasudeo Raut is B. Tech. (Textiles) from VJIT, Bombay University and diploma in Warp Knitting Technology from SASMIRA, Mumbai and Diploma in Business Management from IMS, Shivaji University. Mr. Raut has been bestowed with the prestigious R&D Innovation Award in the year 2015 by The Asian Fisheries Society India Branch (AFSIB) in recognition of his distinguished contribution towards pioneering research and development of Netting and Net Cages for Aquaculture in India. Mr. Raut is a Director at Indian Technical Textile Association and was
	member of Research Advisory Committee Research and other govt. bodies.	of Indian Council of Agriculture
	Mr. Raut joined the Company as DGM-Project to the position President (Technical 30th June superannuation on Prior 2021. worked with various organizations having more than 47 years. His last assignment Corporation, Mumbai before joining the	in the year 1995 and rose and New Businesses) before to joining the Company he had aggregate work experience of was with National Rayon Company in the year 1995.
Disclosure of relationships between directors	Mr. Sanjay Vasudeo Raut is not related to	any Directors on the Board.

Q9 Garware Technical Fibres Limited ~ .. Regd. Office: Plot No. 11, Block 0-1, M.I.D.C., Chinchwad, Pune - ⁴¹¹ 019. .. (iAR"VVARE Website: www. garwarefibres.com, ClN No. l25209MH1976PlC018939

TECHNICAL FIBRES Tel.: (020) 27990000, E-mail: secretarial@garwarefibres.com

STATEMENT OF UNAUDITED STANDALONE FINANCIAL RESULTS FOR THE QUARTER AND HALF YEAR ENDED ON 30TH SEPTEMBER, 2021

							(Rs. in la khs)
Sr.	Particulars		Standalone Quarter ended		Standalone Half year Ended	Standalone
No.							Ivear Ended
		30/09/2021	30/06/2021	30/09/2020	30/09/2021	30/09/2020	31/03/2021
		(Unaudited)	(Unaudited)	(Unaudited)	(Unaudited)	(Unaudited)	(Audited)
PART I
	I. Revenue from Operations	27,274.85	23,926.13	27,890.06	51,200.98	43,004.94	101,726.21
	II. Other Income	986.77	600.30	819.13	1,587.07	1,964.77	3,453.51
	III. Total income ( I + III	28,261.63	24,526.42	28,709.19	52,788.05	44,969.71	105,179.72
	IV. Expenses
	a. Cost of materials consumed	9,026.52	8,567.57	6,203.93	17,594.08	9,185.87	24,586.82
	b. Purchase of stock-in-trade	776.35	1,100.05	690.81	1,876.40	1,212.60	3,036.21
	c. Changes in inventories of finished goods, work in progress and stock-in-trade	(1,401.23)	(3,455.61)	883.62	(4,856.84)	1,002.48	2,022.49
	d. Employee benefits expense	3,601.93	3,762.10	4,028.72	7,364.03	7,528.46	14,988.39
	e. Finance Costs	265.61	231.94	284.20	497.55	450.02	996.97
	f. Depreciation and amortisation expense	539.08	525.15	507.64	1,064.23	1,003.15	2,063.99
	g. Other expenses
	i) Processing and Testing Charges	2,612.84	2,381.95	2,763.46	4,994.79	3,895.88	9,592.17
	li) Others	7,983.14	7,391.33	7,489.52	15,374.47	12,559.74	27,625.24
	Total Expenses	23,404.23	20,504.48	22,851.89	43,908.70	36,838.19	84,912.28
	V. Profit before exceptional Items and tax (III-IV)	4,857.40	4,021.95	5,857.30	8,879.35	8,131.52	20,267.44
	VI. Exceptional Items	-	-	-	-	-	-
	VII. Profit before tax (V-VI)	4,857.40	4,021.95	5,857.30	8,879.35	8,131.52	20,267.44
VIII. Tax	Expenses
	(1) Current Tax	1,018.19	1,145.77	1,294.56	2,163.96	1,565.05	4,470.53
	(2) Deferred Tax	83.65	(238.17) 3,114.35	10.99 4,551.75	(154.52)	214.91 6,351.56	333.93
	IX. Profit for the period from Continuine: Operation (VII-Villi	3,755.56			6869.91		15,462.98
	X. Profit/I loss) from discontinued one rations XI. Tax	-	- -	- -	-	- -	-
	expense of discontinued operations	-	-	-	-		- -
	XII. Profit/lloss] from Discontinued operations (after tax IX-XII	-		4,551.75	-	- 6,351.56
	XIII. Profit for the period /lX+XIIl	3,755.56	3,114.35		6,869.91		15,462.98
c.	XIV. Other Comprehensive Income ltcrns that 'y.,,:!! be reclassified to crcflt / '!c:;:;\		-	-	-	-
	b. Items that will not be reclassified to profit / (loss)	39.11	249.06	73.71	288.17	123.53	- 738.19
	Other Comprehensive Income (Net of Taxes)	39.11	249.06	73.71	288.17	123.53	738.19
	XV. Total Comprehensive Income	3,794.67	3,363.41	4,625.46	7.158.08	6,475.09	16,201.17
	XVI. Paid-up Equity Share Capital (Face value Rs. 10/- each)	2,061.82	2.061.82	2,093.56	2,061.82	2,093.56	2,061.82
	-
	XVII. Other EQuity	-	-	-	-	-	82,073.97
	XVIII. Earnings Per Share of Rs. 10/- each (EPS) (for continuing and discontinUing~~
	A operations) (Rs.) ~V;	~
	j ~ ( a) Basic EPS	•.•~ ~ 18.21	15.10	21.09	33.32	29.42	72.87
	b) Diluted EPS ,~	18.21	15.10	21.09	33.32	29.42	72.87
	~!J""",.~--S,!I

...•••....--~ .•..

	Garware Technical Fibres limited Regd. Office: Plot No. 11, Block 0-1, M.I.D.C., Chinchwad, Pune - 411 019. GAR","ARE Website: www.garwarefibres.com. ClN No. l25209MH1976PLC018939 TECHNICAL FIBRES Tel.: (020) 27990000, E-mail: secretarial@garwarefibres.com
	STATEMENTOF UNAUDITEDSTANDALONEFINANCIALRESULTSFORTHE QUARTERAND HALFYEARENDEDON 30TH SEPTEMBER,2021
Sr.	Particulars		Standalone	Quarter	ended	Standalone	Half year Ended	(Rs. in Lakhs) Standalone
No.								year Ended
			30/09/2021	30/06/2021	30/09/2020	30/09/2021	30/09/2020	31/03/2021
			/Unauditedl	{Unauditedl	{Unauditedl	/Unauditedl	(Unaudited)	/Auditedl
1.	Segment Revenue
	a) Synthetic cordage & b) Fibre and Industrial Products Projects		24,067.35 3,847.50	18,910.33 5,560.50	24,453.04 3958.01	42,977.68 9,408.01	36,718.88 6,960.78	86,253.29 17,276.94
	Total		27,914.85	24,470.84	28,411.05	52,385.69	43,679.66	103,530.23
	Less: Inter-Segment Revenue		(640.00)	(544.71)	(521.00)	(1,184.71)	(674.731	(1,804.02)
	Net Sales/Income from Operations		27,274.85	23,926.13	27,890.06	51,200.98	43,004.94	101,726.21
2.	Segment Results (Profit (+) before tax and interest	from each segment)
	a) Synthetic cordage		4,662.65	3,740.45	5,554.79	8,403.11	7,346.24	18,552.54
	b) Fibre and Industrial Products & Projects Total		514.77 5,177.43	749.46 4,489.91	627.23 6,182.03	1,264.24 9,667.34	888.17 8,234.41	2,564.19 21,116.74
	Less:
	i) Interest		(265.61)	(231.94)	(284.20)	(497.55)	(450.02)	(996.97)
	ii) Other unallocable expenditure net off Unallocable	Income	(54.42)	(236.03)	(40.53)	(290.45)	347.12	147.68
	Total Profit Before Tax		4,857.40	4,021.95	5,857.30	8,879.35	8,131.52	20,267.44
3.	Segment Assets
	a) Synthetic cordage		60,026.48	54,630.59	56,759.92	60,026.48	56,759.92	56,149.00
	b) Fibre and Industrial Products & Projects		10,939.02	10,590.69	9,514.65	10,939.02	9,514.65	10,009.59
	C) Unallocable		69,577.34	69,353.44	65,611.98	69,577.34	65,611.98	66,135.99
	Total		140,542.83	134,574.71	131,886.55	140,542.83	131,886.55	132,294.58
4.	Segment liabilities
	a) Synthetic cordage		25,920.06	28,371.01	25,000.83	25,920.06	25,000.83	31,003.21
	& b) Fibre and Industrial Products Projects		4,730.55	3,707.09	4,481.69	4,730.55	4,481.69	3,751.24
	C) Unallocable		21,130.64	14,997.41	18.942.32	21,130.64	18,942.32	13,404.35
	Total		51,781.24	47,075.51	48,424.84	51,781.24	48,424.84	48,158.79
5.	Capital Employed (Segment Assets - Segment Liabilities)	-
	a) Synthetic cordage		34,106.42	26,259.58	31,759.09	34,106.42	31,759.09	25,145.79
	& b) Fibre and Industrial Products Projects		6,208.47	6,883.59	5,032.96	6,208.47	5,032.96	6,258.36
	& C) Unallocable Corporate		48,446.70	54,356.03	46,669.66	48,446.70	46,669.66	52,731.64
	Total		88,761.59	87,499.20	83,461.71	88,761.59	83,461.71	84,135.79

	e
				Garware Technical Fibres limited
						Regd. Office: Plot No. 11, Block 0-1, M.I.D.C., Chinehwad, Pune - 411 019.
~	GAR.:"\¥ARE		Website: www. garwarefibres.eom,		CIN No. L25209MH1976PLC018939
	TECHNICAL FIBRES		Tel.: {020} 27990000, E-mail: seeretarial@garwarefibres.eom
		STATEMENTOF UNAUDITEDCONSOLIDATEDFINANCIALRESULTSFORTHE QUARTERAND HALFYEARENDEDON 30TH SEPTEMBER,2021
								{Rs.in Lakhs}
sr,	Particulars			Consolidated Quarter ended			Consolidated Half year Ended Consolidated
No.								vear Ended
			30/09/2021	30/06/2021	30/09/2020	30/09/2021	30/09/2020	31/03/2021
			IUnauditedl	IUnauditedl	IUnauditedl	IUnaudltedl	(unaudtted)	IAudited)
PART I
	I. Revenue from Operations		28,182.76	24,312.95	26,832.74	52,495.71	42,072.12	103,456.98
	II. Other Income		988.69	602.18	824.10	1,590.87	1,974.78	3,467.24
	III. Total income I I + III		29,171.45	24,915.13	27,656.84	54,086.58	44,046.90	106,924.22
	IV. Expenses		9,257.29		6,056.03	18,022.41	8,978.11	25,395.87
	a. Cost of materials consumed		776.35	8,765.12 1,100.05	690.81	1,876.40	1,212.60	3,051.54
	b. Purchase of stock-in-trade c. Changes in inventories of finished goods, work in progress and stock-in-trade		(1,4S9.41)	{3,632.37}	{227.76}	(5,091.78)	{93.97}	1,162.22
	d. Employee benefits expense		3,638.11	3,820.33	4,113.97	7,458.44	7,650.81	15,273.55
	e. Fina nee Costs		266.92	236.08	280.68	503.00	468.82	1,032.01
	f. Depreciation and amortisation expense		540.34	526.40	507.64	1,066.74	1,003.14	2,064.59
	g. Other expenses		-
	i} Processing and Testing Charges		2,612.84	2,381.95	2,762.78	4,994.79	3,895.88	9,592.83
	m Others		8,256.83	7584.19	7,704.07	15,841.02	12,906.42	28,544.77
	Total Expenses		23889.27	20781.75	21888.22	44 671.02	36021.81	86117.38
	V. Profit before exceptional Items and tax IIII-IVI		5282.19	4133.38	5768.63	9415.57	8025.09	20806.84
	VI. Exceptional Items		-	-	-	-	-	-
	VII. Profit before tax IV-VII		5282.19	4133.38	5768.63	9415.57	8025.09	20806.84
	VIII. Tax Expenses III Current Tax		1,109.02	1177.63	1322.99	2286.65	1607.48	4,633.18
	121Deferred Tax		84.01	1237.82}	10.99	1153.811	214.91	333.93
	IX. Profit for the oeriod from Continuinz Ooeration IVII-Vilil		4089.17	3193.57	4434.65	7282.74	6202.70	15839.73
	X. Profitlllossl from discontinued ooerations		-	-	-	-	-	-
	XI. Tax expense of discontinued operations		-	-	-	-	-	-
	XII. Profit/lloss} from Discontinued operations lafter tax IX-XII		-	-	-	-	-	-
	XIII. Profit for the period IIX+XIII		4089.17	3193.57	4434.65	7282.74	6202.70	15839.73
	XIV. Share of Profit Iliossl of Associates		(0.03)	(0.03	(0.03	(0.05	10.051	/0.10
	XV. Profit for the period after tax and Share of Drofit Iliossl of Associates		4089.14	3193.54	4434.62	7282.69	6202.65	15839.63
	XVI. Other Comprehensive Income
	a. Items that will be reclassified to profit / Closs)				-
	b. Items that will not be reclassified to orofit / (Iossl		39.11	249.06	73.71	288.17	123.53	738.19
	Other Comprehensive Income INet of Taxes\		39.11	249.06	73.71	288.17	123.53	738.19
	XVII. Total ComDrehenslve Income		4128.25	3442.60	4508.33	7570.86	6326.18	16577.82
	XVIII. Total ComDrehensive Income above attributable to: a. Owners of the Parent		4089.17	3193.57	4434.65	7282.74	6202.70	15839.73
	b. Non-controllinl! interest		10.030	10.03\	(0.03	10.050\	10.05	10.101
	XIX. Of the total comprehensive	Income above Profit / !lossl for the vear attributabl~
	a. Owners of the Parent	~c.	s; 39.11	249.06	73.71	288.17	123.53	738.19
	b. Non-ccntrolllna interest	~ "'"	~ -			-		-

1~~~,.; ^~ ~~.* .~~

Regd. Office: Plot No. 11, Block 0-1, M.I.D.C., Chinchwad, Pune - 411 019. CiAR""\VARE Website: www. garwarefibres.com, CIN No. L25209MH1976PLC018939 TECHNICAL FIBRES ~ Tel.: (020) 2799 0000, E-mail: secretarial@garwarefibres.com STATEMENTOF UNAUDITEDCONSOLIDATEDFINANCIALRESULTSFORTHE QUARTERAND HALFYEARENDEDON 30TH SEPTEMBER,2021 Consolidated Quarter ended Consolidated Half year Ended Consolidated Sr. Particulars No. 30/06/2021 30/09/2020 30/09/2021 30/09/2021 30/09/2020 31/03/2021 (Unaudited) (Unaudited) (Unaudited) (Unaudited) (Unaudited) XX. Of the total comprehensive Income above, other comprehensive income for the year attributable to: a. Owners of the Parent 4128.28 3442.63 4508.36 7570.91 6326.23 16577.92 (0.03) 10.03) {0.03 (0.05) {0.05 b. Non-controlling interest XXI. Paid-up 2,061.82 2,061.82 2,061.82 2,093.56 2,093.56 Eauitv Share Capital (Face value Rs. 10/- each) - - 79,048.88 XXII. Other Eauitv - - - (Rs.) XXIII. Earnings Per Share of Rs. 10/- each (EPS) (for continuing and discontinuing operations) 20.54 19.83 15.49 28.73 35.32 a) Basic EPS 15.49 20.54 19.83 b) Diluted EPS 35.32 28.73 1. Segment Revenue 24,975.26 19,297.15 23,395.73 44,272.41 a) Synthetic cordage 35,786.07 87,846.21 bl Fibre and Industrial Products & Proiects 3847.50 5560.50 3958.01 9408.01 6960.78 17 414.79 28,822.76 24,857.66 27,353.74 53,680.42 42,746.85 105,261.00 Total (544.71 {521.oo {1184.71\ Less: tnter-Segment Revenue (640.00) {674.731 {1804.02 28,182.76 26,832.74 52,495.71 42,072.12 103,456.98 24,312.95 Net Sales/Income from Operations 2. Segment Results (Profit (+) before tax and interest from each segment) a) Synthetic cordage 4,838.55 3,816.97 5,349.98 8,656.26 7,159.62 18,895.17 749.46 514.77 627.23 b) Fibre and Industrial Products & Proiects 1264.24 888.17 2584.65 4,566.43 5,977.22 5,353.32 9,920.49 8,047.79 21,479.82 Total Less: (280.68) i) Interest (266.92) (236.08) (503.00) (468.82) (1,032.01) 72.09 ii) Other unallocable expenditure net off Unallocable Income (196.97) 195.79 11.93 446.12 359.03 9,415.57 5,282.19 4,133.38 5,768.63 8,025.09 20,806.84 Total Profit Before Tax 3. Segment Assets 58,702.52 58,702.52 60,640.62 a) Synthetic cordage 62,916.39 58,993.84 62,916.39 b) Fibre and Industrial Products & Projects 10,939.02 10,590.69 9,514.45 10,939.02 9,514.45 65,209.12 64,099.19 61,145.23 65,209.12 61,145.23 61,743.94 C) Unallocable 139,064.53 133,683.71 129,362.20 139,064.53 129,362.20 131,887.78 Total 4. Segment Liabilities 3~,::~.:~ 2~,:~~.:~ 2~,:~~.~~ I I I I I 3~,~.~~ 2~,~~~.~~ 2~,~~~.~~ I~\;i;r~:~:~ ~~~~~~~d: Products & Projects ,*,/.,ju."" ,+,I~U.:J:J ;),/U/.U::1 q/+O.l.O::1 q,qt:S.1.0::1 19,407.50 15,220.55 18,984.86 19,407.50 18,984.86 C Unallocable 50,822.38 49,126.02 49,370.75 50,822.38 49,370.75 Total 5. Capital Employed (Segment Assets - Segment Liabilities) 28,795.46 a) Synthetic cordage 36,232.06 32,798.31 36,232.06 32,798.31 b) Fibre and Industrial Products & Projects 5,032.76 6,208.47 6,883.59 6,208.47 5,032.76 45,801.62 48,878.63 42,160.37 45,801.62 C Unallocable & Cor orate 42,160.37 79,991.45 79,991.45 88,242.14 84,557.69 88,242.14 Total				Garware Technical Fibres Limited
	~
								(Rs. in Lakhs)
								vear Ended
								(Audited I
								{0.10
								2,061.82
								74.64
								74.64
								9,503.22
								~,I:JJ"q
								13,981.31
								50,777.08
								27,596.08
								5,751.99
								47,762.64
								81,110.70

Q; Garware Technical Fibres Limited <:;ARV\TA:R]~ Regd. Office: Plot No. 11, Block 0-1, M.I.D.C., Chinchwad, Pune - ⁴¹¹ 019. Website: www. garwarefibres.com, CIN No. L25209MH1976PLC018939 Tel.: (020) 2799 0000, E-mail: secretarial@garwarefibres.com

Notes:

TECHNICAL FIBRES

1.	Statement of Assets and Liabilities (Rs. in Lakhs)
Sr.	Particulars		Standalone As at			Consolidated As at
No.		30/09/2021	30/09/2020	31/03/2021	30/09/2021	30/09/2020	31/03/2021
		(Unaudited)	(Unaudited)	(Audited)	(Unaudited)	(Unaudited)	(Audited)
I	ASSETS
	NON CURRENTASSETS
	(a) Property, Plant and Equipment	23,809.02	23,535.12	24,219.48	23,824.34	23,535.19	24,236.31
	(b) Capital Work-in-Progress	12.96	0.20	-	12.96	0.20	-
	(c) Other Intangible Assets	429.60	444.62	469.74	435.48	444.62	476.31
	(d) Financial Assets
	i) Investments in subsidiaries, associates	4,830.61	4,828.60	4,829.61	1.00	-	-
	and joint ventures				-
	ii) Other Investments	33,915.23	20,065.33	22,686.67	34,031.10	20,175.58	22,799.73
	iii) Trade receivables	221.31	202.92	199.81	221.31	202.92	199.81
	iv) Loans	710.36	886.35	709.69	710.36	886.35	709.69
	v) Other non-current financial assets	211.67	222.18	212.17	211.67	256.68	212.17
	I(e) Other Non-Current Assets	723.93	704.22	737.48	723.93	704.22	737.48
	Total - Non-Current Assets	64,864.69	50,889.53	54,064.65	60,172.15	46,205.76	49,371.51
	CURRENT ASSETS
	(a) Inventories	24,355.68	18,981.31	17,708.10	25,924.34	20,823.02	19,041.83
	(b) Financial Assets
	i) Investments	20,311.58	27,407.96	23,893.70	20,311.58	27,407.96	23,893.70
	ii) Trade receivables	19,295.36	21,798.45	21,587.91	20,566.29	21,685.21	24,177.55
	iii) Cash and cash equivalents	402.58	284.34	492.94	639.90	533.17	732.65
	iv) Other bank balances	86.22	4,945.72	4,971.85	122.51	4,945.72	5,007.24
	v) Loans	549.79	275.39	541.04	549.79	275.39	541.03
	vi) Other financial assets	105.82	256.37	655.92	105.82	256.37	655.92
	vii) Current Tax Asset	730.41	344.81	298.12	781.13	347.51	324.11
	I(cl Other Current Assets	9,840.70	6702.68	8,080.35	9,891.02	6882.09	8,142.24
	Total - Current Assets	75,678.14	80,997.02	78,229.93	78,892.38	83,156.44	82,516.27
	TOTAL - ASSETS	140542.83	131886.55	132294.58	139064.53	129362.20	131.887.78

Garware Technical Fibres Limited

^~ <"AR"VA]l.I~ Regd. Office: Plot No. 11, Block D-1, M.LD.C., Chinchwad, Pune - ⁴¹¹ 019. Website: www. garwarefibres.com, ClN No. l25209MH1976PlC018939 Tel.: /020) 2799 0000 E-mail: secretarial@garwarefibres.com

TECHNICAL FIBRES

1.	Statement	of Assets and liabilities						(Rs. in lakhs)
Sr.		Particulars		Standalone As at			Consolidated As at
No.			30/09/2021	30/09/2020	31/03/2021	30/09/2021	30/09/2020	31/03/2021
			(Unaudited)	(Unaudited)	(Audited)	(Unaudited)	(Unaudited)	(Audited)
II		EQUITYAND LIABILITIES
	EQUITY
	(a)	Equity Share Capital	2,061.82	2,093.56	2,061.82	2,061.82	2,093.56	2,061.82
	Ib)	Other Equity	88,761.59	81,368.16	82,073.97	86,180.33	77,897.89	79,048.88
		Total Equity	90,823.41	83,461.71	84,135.79	88,242.14	79,991.45	81,110.70
		LIABILITIES
	NON	CURRENT LIABILITIES
	(a)	Financial Liabilities
		i) Trade Payable	213.08	178.57	135.03	213.08	178.57	135.03
		ii) Other Financial Liabilities	296.85	4.90	4.90	296.85	4.90	4.90
	(b)	Provisions	1,076.37	918.17	1,065.26	1,076.37	918.17	1,065.26
	(c)	Deferred tax liabilities (Net)	3,442.22	3,421.44	3,590.41	3,445.31	3,421.44	3,590.41
	(d)	Other Non-Current Liabilities		-	-			-
		Total Non Current Liabilities	5,028.52	4,523.08	4,795.60	5,031.61	4,523.08	4,795.60
		CURRENT LIABILITIES
	(a)	Financial Liabilities
		i) Borrowings	15,504.30	15,406.86	9,691.63	15,688.78	15,406.86	10,181.39
		ii) Trade payables	21,005.61	19,917.96	24,219.32	21,537.69	20,271.58	24,991.38
		Hi) Other financial liabilities	1,875.17	1,688.62	2,369.81	1,920.91	1,834.76	2,486.90
	(b)	Other Current Liabilities	5,681.44	6,123.05	6,581.38 501.05	5,868.77	6,526.68	7,733.57
	(c) '(d)	Provisions	624.40	765.27		624.40	765.27 42.53	501.05
		Current tax liabilities (Net)	- 44,690.91	- 43,901.76	-	150.22		87.19
		Total Current Liabilities	140,542.83	131,886.55	43,363.19 132,294.58	45,790.77	44,847.67	45,981.48
		TOTALEQUITYAND LIABILITIES				139,064.53	129,362.20	131,887.78

g; Garware Technical Fibres Limited Regd. Office: Plot No. 11, Block D-1, M.I.D.C., Chinchwad, Pune - 411 019. ~' GAR"VVARE Website: www. garwarefibres.com, CIN No. L25209MH1976PLC018939 TECHNICAL FIBRES Tel.: (020) 27990000, E-mail: secretarial@garwarefibres.com

Cash Statement Flow						(Rs. in Lakhs)
Particulars		Standalone			Consolidated
	for the six	ended	for the year ended	for the six	ended	for the year ended
	30/09/2021	30/09/2020	31/03/2021	30/09/2021	30/09/2020	31/03/2021
	(Unaudited)	(Unaudited)	(Audited)	(Unaudited)	(Unaudited)	(Audited)
I. CASH FLOW FROM OPERATINGACTIVITIES
Net Profit Before Tax	8,879.35	8,131.52	20,267.44	9,415.56	8,025.09	20,806.84
cash Flows:
Depreciation and Amortisation Expenses	1,064.23	1,003.15	2,063.99	1,066.74	1,003.14	2,064.59
Unrealised Exchange Difference	(9.96)	807.41	466.69	(9.96)	807.36	466.69
Finance Cost	497.55	450.02	996.97	502.97	468.82	1,032.01
Interest and Dividend Income Received	(287.67)	(316.17)	(896.51)	(291.47)	(326.17)	(910.25)
Fair Value Gain at Financial Instruments at FVTPL	(1,202.43)	(1,488.42)	(2,111.10)	(1,202.43)	(1,488.42)	(2,111.10)
Gain on sale/redemption of Investments	(96.97)	(160.18)	(445.89)	(96.97)	(160.18)	(445.89)
(Profit) / Loss on sale of Fixed Assets	13.09		(1.26)	13.09	-	(1.26)
Bad Debts	2.34	23.46	100.02	5.84	23.46	101.17
Provision for Doubtful Debts	(12.80)	76.39	14.77	(12.80)	76.39	14.77
ODeratin~ Profit before Workin~ CaDital Chanees	8,846.72	8,527.17	20.455.11	9,390.56	8,429.49	21,017.57
Working Capital Adjustments
& (Increase) / Decrease in Trade Other Receivable	1,085.86	4.70	(1,305.92)	2,384.44	2,053.33	(1,854.30)
and Other Assets
(Increase) / Decrease in Inventories	(6,647.58)	(289.05)	984.16	(6,882.52)	(1,564.36)	123.90
Increase / (Decrease) in Trade and Other Payables	(4,153.83)	(488.94)	5,050.61	(5,391.53)	1,610.57	8,311.72
						27,598.88
						(4,590.80) 23,008.08
	Adjustments for reconcile Profit Before Tax To Net Cash generated from Operations Direct Taxes paid Net cash provided by Operating Activities	(868.83) (2,596.25) (3,465.08)	months - 7,753.89 (1,478.74) 6,275.14	25,183.96 (4,447.30) 20,736.66	(499.04) (2,657.51) (3,156.55)	months 10,529.03 (1,557.18) 8,971.85

TECHNICAL FIBRES

fa; Garware Technical Fibres Limited ^~ CiARVVARE Regd. Office: Plot No. 11, Block D-1, M.I.D.C., Chinchwad, Pune - ⁴¹¹ 019. Website: www. garwarefibres.com, CIN No. L25209MH1976PLC018939

Tel.: (020) 2799 0000,	E-mail: secretarial@garwarefibres.com

2.	Cash Flow Statement						(Rs. in Lakhs)
Sr.	Particulars		Standalone			Consolidated
No.		for the six	months ended	for the year ended	for the six months ended		for the year ended
		30/09/2021	30/09/2020	31/03/2021	30/09/2021	30/09/2020	31/03/2021
		(Unaudited)	(Unaudited)	(Audited)	(Unaudited)	(Unaudited)	(Audited)
II.	CASH FLOW FROM INVESTING ACTIVITIES
	& Purchase of Property, Plant Equipment and	(651.04)	(536.33)	(2,330.91)	(668.47)	(536.33)	(2,354.84)
	lntanzlble Assets
	& Sale of Property, Plan Equipment	11.36	2.83	27.85	28.47	2.84	27.85
	(lncrease)/ Decrease of Investments	(1.00)	(73.57)	(74.57)	(1.00)	-	0.00
	(Increase)/ Decrease of Other Investments	(2,416.32)	(14,780.66)	(13,131.84)	(2,420.01)	(14,787.35)	(13,176.73)
	Interest and Dividend Income Received	1,587.07	1,964.77	3,453.51	1,590.87	1,974.78	3,467.24
	Net cash provided by / (used in) Investing Activities	(1,469.93)	(13,422.96)	(12,055.95)	(1,470.14)	(13,346.07)	(12,036.48)
III.
	CASH FLOW FROM FINANCING ACTIVITIES
	Proceeds from Short-term / Long-term Borrowings	5,812.68	5,369.16	(346.07)	5,507.40	2,153.19	(3,072.28)
	Buyback of Shares (incl.Buyback Tax and Transaction	-	-	(9,051.45)	-	-	(9,051.45)
	Charzes)
	Reduction of Emolovee Welfare Trust Shares	-	-	(306.29)	-	-	(306.29)
	Finance Cost	(497.55)	(450.02)	(996.97)	(502.97)	(468.82)	(1032.01)
	Dividend paid including Dividend Distribution Tax	(470.47)	-	-	(470.47)	-	-
	Net cash from Flnanclnz Activities	4,844.66	4,919.14	(10,700.78)	4,533.96	1,684.38	(13,462.03
	& Net Increase/ (Decrease) in Cash Cash	(90.34)	(2,228.68)	(2,020.08)	(92.74)	(2,689.84)	(2,490.43)
	Eauivalents (1+11+111)
	& Cash Cash Equivalents at the beginning of the year	492.92	2,513.02	2,513.03	732.65	3,223.03	3,223.08
	& Cash Cash Equivalents at year end	402.58	284.34	492.95	639.91	533.18	732.65

</iar'"vvare<>

				Garware Technical Fibres Limited
			Regd. Office: Plot	No. 11, Block 0-1, M.LD.C., Chinchwad, Pune - 411 019.
		<iar'"vvare< th="">	Website:	www.garwarefibres.com. CIN No. L25209MH1976PLC018939	Website:	www.garwarefibres.com. CIN No. L25209MH1976PLC018939
		TECHNICAL FIBRES	Tel.: (020)	27990000, E-mail: secretarial@garwarefibres.com
	The Unaudited	Standalone Financial Results of Garware	Technical Fibres Limited ("the Company")	as well as Consolidated Financial Results of the Company and its Subsidiaries and its
	associate for	the quarter and half year ended 30th	September, 2021 ("the Financial Statements"),	were reviewed by the Audit Committee and have been taken on record and
	approved by	the Board of Directors at its meeting held	on Thursday, 11th November, 2021. The	Statutory Auditors of the Company have carried out a "Limited Review" of the Financial
	Statements	for the quarter and half year ended 30th	September, 2021.
4	These results	have been prepared in accordance with	the Companies (Indian Accounting Standards)	Rules, 2015 (lnd-AS) prescribed under Section 133 of the Companies Act, 2013 and
	other recognized	practices and policies to the extent	applicable.
5	COVID - 19	Pandemic and resulting Lockdown measures	by the Government of India has impacted	economic activities worldwide and as a result, impacted operations and financial
	results of the	Company. The Company has considered	all available information, while preparing its	Financial Results for the quarter and half year ended 30th September, 2021.
6	During the	quarter, the Company has incorporated a	wholly owned subsidiary as Garware Technical	Fibres Foundation ("GTFF") as on 03rd August, 2021.
7				resentation.
				For Garware Technical Fibres Limited
				Garware
Place:	Pune			Chairman & Managing Director
Date:	DIN. No. 00092201 11th November, 2021

MEHTA CHOKSHI & slH LL~

CHARTERED ACCOUNTANTS

Independent Auditor's Review Report on Review of Interim Standalone Financial Results

To,

The Board of Directors, Garware Technical Fibres Limited

• 1. We have reviewed the accompanying Statement of Standalone Unaudited Financial Results of GARWARE TECHNICAL FIBRES LIMITED ("the Company") for the quarter and six months ended September 30, 2021 ("the Statement"), being submitted by the Company pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended.
• 1. This Statement, which is the responsibility of the Company's Management and approved by the Board of Directors, has been prepared in accordance with recognition and measurement principles laid down in Indian Accounting Standard 34 "Interim Financial Reporting" as prescribed under Section 133 of Companies Act, 2013 read with relevant rules issued there under and other accounting principles generally accepted in India. Our responsibility is to issue a report on the Statement based on our review.
• 1. We conducted our review of the Statement in accordance with the Standard on Review Engagement (SRE) 2410, "Review of Interim Financial Information Performed by the Independent Auditor of the Entity" issued by the Institute of Chartered Accountants of India. This standard requires that we plan and perform the review to obtain moderate assurance as to whether the Statement is free of material misstatement. A review is limited primarily to inquiries of the Company personnel and analytical procedures applied to financial data and thus provide less assurance than an audit. We have not performed an audit and accordingly, we do not express an audit opinion.
• 1. Based on our review conducted and procedures performed as stated in paragraph 3 above nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the recognition and measurement principles laid down in the aforesaid Indian

Head Office: Maker Bhavan 3, 214, 2nd Floor, New Morine Lines, Mumbol·400 020. Tei.:+91·22·2205 7309 i 22055432 22088743 Ernoil . mcs@camcs.,n

Ahmedabad Office: 8·303, Titanium Heiqhts. Corporate Rood, Prahlod Nagar, Ahmedabad-3800 15. Tel.. + 91,79,4003 4334

CHARTERED ACCOUNTANTS

Accounting Standard and other accounting principles generally accepted in India / has not disclosed the information required to be disclosed in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, incJuding the manner in which it is to be disclosed, or that it contains any material misstatement.

For Mehta Chokshi & Shah LLP Chartered Accountants ICAI Firm Registration No.106201 I WI00598 W' :\"-tllOkSIf/ ~ ~..J' ~ ~ It .f4Q.c~, ~ ay Mehta U/,f "00 84/ Partner Membership No.:046088 UDIN: 21046088MAADF84-BI

Place: Mumbai Date: November 11, 2021

MEHTA CHOKSHI & SHAH LLP

CHARTERED ACCOUNTANTS

Independent Auditor's Review Report on Review of Interim Consolidated Financial Results

To,

The Board of Directors, Garware Technical Fibres Limited

• 1. We have reviewed the accompanying Statement of Consolidated Unaudited Financial Results of GARW ARE TECHNICAL FIBRES LIMITED ("the Parent") and its subsidiaries ( the Parent and its subsidiaries together referred to as "the Group") and its share of the net profit after tax for the quarter and six months ended September 30, 2021 ("the Statement"), being submitted by the Parent pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended.
• 1. This Statement, which is the responsibility of the Parent's Management and approved by the Parent's Board of Directors, has been prepared in accordance with recognition and measurement principles laid down in Indian Accounting Standard 34 "Interim Financial Reporting" as prescribed under Section 133 of Companies Act, 2013 read with relevant rules issued there under and other accounting principles generally accepted in India. Our responsibility is to issue a report on the Statement based on our review.
• 1. We conducted our review of the Statement in accordance with the Standard on Review Engagement (SRE) 2410, "Review of Interim Financial Information Performed by the Independent Auditor of the Entity" issued by the Institute of Chartered Accountants of India. 111isstandard requires that we plan and perform the review to obtain moderate assurance as to whether the Statement is free of material misstatement. A review is limited primarily to inquiries of the Parent's personnel and analytical procedures applied to financial data and thus provide less assurance than an audit. We have not performed an audit and accordingly, we do not express an audit opinion.

Head Office: Maker Bhovon 3, 214, 2nd Floor, New Morine lines, Mumboi-400 020. Tel.:+91-22-2205 7309 I 22055432 22088743 Emoil : mcs@comcs.in

Suburb Office: C-9/10, Bhoorni Soroswolhi, Gonjowolla Lone, Off. S.Y.P. Rood, Borivcli (West), Mumboi . 400092. TeL:+91-22-28930502: 28930503 28902326 I 28908977 Ahmedabad Office: B·303, Titanium HeIghts, Corporate Rood. Prahlad Nagar, Ahmedobod-380015. Tel.: ···9179·40034334

CHARTERED ACCOUNTANTS

We also performed procedures in accordance with the circular issued by the SEBI under Regulation 33(8) of the SEBl (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, to the extent applicable.

• 1. The Statement includes the results of the following entities:
• (a) Garware Technical Fibres Limited (Parent);
• (b) Garware Environmental Services Private Limited (Subsidiary);
• (c) Garware Technical Textile Private Limited (Subsidiary);
• (d) Garware Technical Fibres Inc, USA (Subsidiary);
• (e) Garware Technical Fibres Chile SpA (Subsidiary); and
• (1) Garware Meditech Private Limited (Associate).
• 1. Based on our review conducted and procedures performed as stated in paragraph 3 above and based on the consideration of the review report of other auditors referred to in paragraph 6 below, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the recognition and measurement principles laid down in the aforesaid Indian Accounting Standard and other accounting principles generally accepted in India has not disclosed the information required to be disclosed in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, including the manner in which it is to be disclosed, or that it contains any material misstatement.
• 1. We did not review the interim financial information of a subsidiary viz. Garware Environmental Services Private Limited, included in the consolidated unaudited financial results, whose interim financial information reflect total assets of Rs. 162.74 lakh as at Septmber 30, 2021, total revenues of Rs. 3.72 lakh and Rs, 3.80 lakh for the quarter and six months ended September 30, 2021 respectively, total net profit after tax of Rs.1.40 lakh and Rs.2.7S lakh for the quarter and six months ended September 30, 2021 respectively and total comprehensive income ofRs.1.40 lakh and Rs.2.75Iakhs for the quarter and six months ended

September 30,2021 and net cash flows ofRs. (0.20) lakh for the six months ended September 30,2021, as considered in the Statement.

The Consolidated Financial Statements also includes the Group's share in net loss (including other comprehensive income) of Rs.0.03 lakh and Rs. 0.05 lakh for the quarter and six months ended September 30, 2021, in respect of one associate viz Oarware Meditech Private Limited. These interim financial information are reviewed by the other auditors whose reports have been furnished to us by the Management and our conclusion on the Statement, in so far as it relates to the amounts and disclosures included in respect of this subsidiary and an associate is based solely on the report of the other auditor and the procedures performed by us as stated in paragraph 3 above.

Our conclusion on the Statement is not modified in respect of these matters.

For Mehta Chokshi & Shah LLP Chartered Accountants .--c-:~ ICAI Firm Registration No.1062011l WIOOS98

~Mehta Partner Membership No.:046088 UDIN: .2,1046CJ88AAMDH8416

Place: Mumbai Date: November 11,2021