Declared Dividend • Aug 19
Dividend of ₹1.00 announced Shareholders will receive a dividend of ₹1.00. Ex-date: 1st September 2026 Payment date: 8th October 2026 Dividend yield will be 1.2%, which is higher than the industry average of 0.4%. Sustainability & Growth Dividend is covered by both earnings (45% earnings payout ratio) and cash flows (85% cash payout ratio). The dividend has increased by an average of 30% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 68% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Annonce • Aug 06
Garware Technical Fibres Limited, Annual General Meeting, Sep 08, 2026 Garware Technical Fibres Limited, Annual General Meeting, Sep 08, 2026, at 10:30 Indian Standard Time. Reported Earnings • Aug 06
First quarter 2027 earnings released: EPS: ₹6.56 (vs ₹5.35 in 1Q 2026) First quarter 2027 results: EPS: ₹6.56 (up from ₹5.35 in 1Q 2026). Revenue: ₹4.91b (up 34% from 1Q 2026). Net income: ₹646.0m (up 22% from 1Q 2026). Profit margin: 13% (down from 14% in 1Q 2026). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Luxury industry in India. Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has increased by 10% per year, which means it is tracking significantly ahead of earnings growth. Annonce • Jul 30
Garware Technical Fibres Limited to Report Q1, 2027 Results on Aug 05, 2026 Garware Technical Fibres Limited announced that they will report Q1, 2027 results on Aug 05, 2026 Valuation Update With 7 Day Price Move • Jun 19
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₹796, the stock trades at a forward P/E ratio of 33x. Average forward P/E is 24x in the Luxury industry in India. Total returns to shareholders of 29% over the past three years. Reported Earnings • May 22
Full year 2026 earnings: EPS and revenues miss analyst expectations Full year 2026 results: EPS: ₹20.01 (down from ₹23.32 in FY 2025). Revenue: ₹15.8b (up 2.4% from FY 2025). Net income: ₹1.99b (down 14% from FY 2025). Profit margin: 13% (down from 15% in FY 2025). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 2.7%. Earnings per share (EPS) also missed analyst estimates by 5.8%. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Luxury industry in India. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Annonce • May 13
Garware Technical Fibres Limited to Report Q4, 2026 Results on May 20, 2026 Garware Technical Fibres Limited announced that they will report Q4, 2026 results on May 20, 2026 Annonce • May 11
Garware Technical Fibres Limited (BSE:509557) announces an Equity Buyback for 1,617,500 shares, representing 1.63% for INR 1,100 million. Garware Technical Fibres Limited (BSE:509557) announces a share repurchase program. Under the program, the company will repurchase up to 1,617,500 shares, representing 1.63% of its share capital for INR 1,100 million. The shares will be repurchased at a price of INR 680 per share. The company has fixed May 20, 2026 as the Record Date for the offer. As of March 31, 2026, the company had 99,265,845 shares in issue. Price Target Changed • Apr 25
Price target decreased by 7.1% to ₹831 Down from ₹895, the current price target is an average from 3 analysts. New target price is 33% above last closing price of ₹627. Stock is down 27% over the past year. The company is forecast to post earnings per share of ₹21.24 for next year compared to ₹23.32 last year. Reported Earnings • Feb 12
Third quarter 2026 earnings: EPS and revenues exceed analyst expectations Third quarter 2026 results: EPS: ₹5.66 (up from ₹4.80 in 3Q 2025). Revenue: ₹3.87b (up 10% from 3Q 2025). Net income: ₹562.2m (up 18% from 3Q 2025). Profit margin: 14% (in line with 3Q 2025). Revenue exceeded analyst estimates by 15%. Earnings per share (EPS) also surpassed analyst estimates by 118%. Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Luxury industry in India. Over the last 3 years on average, earnings per share has increased by 10% per year whereas the company’s share price has increased by 8% per year. Annonce • Feb 04
Garware Technical Fibres Limited to Report Q3, 2026 Results on Feb 11, 2026 Garware Technical Fibres Limited announced that they will report Q3, 2026 results on Feb 11, 2026 Valuation Update With 7 Day Price Move • Feb 03
Investor sentiment improves as stock rises 23% After last week's 23% share price gain to ₹744, the stock trades at a forward P/E ratio of 32x. Average forward P/E is 22x in the Luxury industry in India. Total returns to shareholders of 21% over the past three years. Reported Earnings • Nov 13
Second quarter 2026 earnings: EPS and revenues miss analyst expectations Second quarter 2026 results: EPS: ₹3.22 (down from ₹6.62 in 2Q 2025). Revenue: ₹3.48b (down 17% from 2Q 2025). Net income: ₹319.9m (down 52% from 2Q 2025). Profit margin: 9.2% (down from 16% in 2Q 2025). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 16%. Earnings per share (EPS) also missed analyst estimates by 47%. Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Luxury industry in India. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Annonce • Oct 31
Garware Technical Fibres Limited to Report Q2, 2026 Results on Nov 07, 2025 Garware Technical Fibres Limited announced that they will report Q2, 2026 results on Nov 07, 2025 Upcoming Dividend • Aug 19
Upcoming dividend of ₹1.50 per share Eligible shareholders must have bought the stock before 26 August 2025. Payment date: 02 October 2025. Payout ratio is a comfortable 6.4% and this is well supported by cash flows. Trailing yield: 0.2%. Lower than top quartile of Indian dividend payers (1.3%). Lower than average of industry peers (0.6%). Reported Earnings • Aug 14
First quarter 2026 earnings: EPS and revenues exceed analyst expectations First quarter 2026 results: EPS: ₹5.35 (up from ₹4.68 in 1Q 2025). Revenue: ₹3.67b (up 9.2% from 1Q 2025). Net income: ₹530.9m (up 14% from 1Q 2025). Profit margin: 14% (in line with 1Q 2025). Revenue exceeded analyst estimates by 1.1%. Earnings per share (EPS) also surpassed analyst estimates by 9.2%. Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Luxury industry in India. Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. Annonce • Aug 02
Garware Technical Fibres Limited to Report Q1, 2026 Results on Aug 08, 2025 Garware Technical Fibres Limited announced that they will report Q1, 2026 results on Aug 08, 2025 Annonce • Jul 30
Garware Technical Fibres Limited, Annual General Meeting, Sep 02, 2025 Garware Technical Fibres Limited, Annual General Meeting, Sep 02, 2025, at 10:30 Indian Standard Time. Annonce • May 10
Garware Technical Fibres Limited to Report Q4, 2025 Results on May 15, 2025 Garware Technical Fibres Limited announced that they will report Q4, 2025 results on May 15, 2025 Reported Earnings • Feb 11
Third quarter 2025 earnings released: EPS: ₹4.80 (vs ₹4.25 in 3Q 2024) Third quarter 2025 results: EPS: ₹4.80 (up from ₹4.25 in 3Q 2024). Revenue: ₹3.51b (up 21% from 3Q 2024). Net income: ₹477.7m (up 10% from 3Q 2024). Profit margin: 14% (down from 15% in 3Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Luxury industry in India. Over the last 3 years on average, earnings per share has increased by 14% per year whereas the company’s share price has increased by 10% per year. Annonce • Feb 03
Garware Technical Fibres Limited to Report Q3, 2025 Results on Feb 10, 2025 Garware Technical Fibres Limited announced that they will report Q3, 2025 results on Feb 10, 2025 Valuation Update With 7 Day Price Move • Nov 21
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₹4,590, the stock trades at a forward P/E ratio of 36x. Average forward P/E is 26x in the Luxury industry in India. Total returns to shareholders of 33% over the past three years. New Risk • Nov 18
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 7.7% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. This is currently the only risk that has been identified for the company. Reported Earnings • Nov 16
Second quarter 2025 earnings released: EPS: ₹33.10 (vs ₹25.75 in 2Q 2024) Second quarter 2025 results: EPS: ₹33.10 (up from ₹25.75 in 2Q 2024). Revenue: ₹4.30b (up 31% from 2Q 2024). Net income: ₹659.6m (up 26% from 2Q 2024). Profit margin: 15% (in line with 2Q 2024). Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Luxury industry in India. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. Price Target Changed • Nov 16
Price target increased by 14% to ₹4,600 Up from ₹4,050, the current price target is provided by 1 analyst. New target price is 16% above last closing price of ₹3,952. Stock is up 25% over the past year. The company is forecast to post earnings per share of ₹115 for next year compared to ₹102 last year. Annonce • Nov 09
Garware Technical Fibres Limited to Report Q2, 2025 Results on Nov 14, 2024 Garware Technical Fibres Limited announced that they will report Q2, 2025 results on Nov 14, 2024 Annonce • Sep 24
Garware Technical Fibres Limited Announces Cessation of S. P. Kulkarni as Non-Executive Independent Director Garware Technical Fibres Limited announces cessation of S. P. Kulkarni as Non-Executive Independent Director of the Company upon completion of his second term of five consecutive years with effect from close of business hours on 24 September, 2024. The Board of Directors of the Company by passing of the resolution through circulation on Tuesday, 24September, 2024, have reconstituted following Committees of the Board with effect from 25 September 2024 as under: Audit Committee: Dr. S. S. Rajpathak - Chairman; Mr. V. R. Garware – Member; Mr. A. S. Wagle - Member; Mr. Ashish Goel – Member. Nomination & Remuneration Committee: Dr. S. S. Rajpathak - Chairman; Mr. V. R. Garware – Member; Mr. A. S. Wagle - Member; Mr. Ashish Goel – Member. Stakeholder Relationship Committee: Dr. S. S. Rajpathak - Chairman; Mr. V. R. Garware – Member; Mr. A. S. Wagle - Member. Upcoming Dividend • Sep 05
Upcoming dividend of ₹3.00 per share Eligible shareholders must have bought the stock before 12 September 2024. Payment date: 19 October 2024. Payout ratio is a comfortable 2.9% and this is well supported by cash flows. Trailing yield: 0.1%. Lower than top quartile of Indian dividend payers (1.0%). Lower than average of industry peers (0.5%). Declared Dividend • Aug 19
Dividend reduced to ₹3.00 Dividend of ₹3.00 is 14% lower than last year. Ex-date: 12th September 2024 Payment date: 19th October 2024 Dividend yield will be 0.08%, which is lower than the industry average of 0.4%. Payout Ratios Payout ratio: 3%. Cash payout ratio: 3%. Annonce • Aug 16
Garware Technical Fibres Limited, Annual General Meeting, Sep 19, 2024 Garware Technical Fibres Limited, Annual General Meeting, Sep 19, 2024, at 10:30 Indian Standard Time. Reported Earnings • Aug 09
First quarter 2025 earnings released: EPS: ₹23.38 (vs ₹21.08 in 1Q 2024) First quarter 2025 results: EPS: ₹23.38 (up from ₹21.08 in 1Q 2024). Revenue: ₹3.47b (up 6.5% from 1Q 2024). Net income: ₹467.6m (up 8.8% from 1Q 2024). Profit margin: 14% (in line with 1Q 2024). Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Luxury industry in India. Over the last 3 years on average, earnings per share has increased by 9% per year whereas the company’s share price has increased by 5% per year. Annonce • Aug 02
Garware Technical Fibres Limited to Report Q1, 2025 Results on Aug 08, 2024 Garware Technical Fibres Limited announced that they will report Q1, 2025 results at 12:15 PM, Indian Standard Time on Aug 08, 2024 Valuation Update With 7 Day Price Move • Jun 07
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₹4,063, the stock trades at a forward P/E ratio of 37x. Average forward P/E is 25x in the Luxury industry in India. Total returns to shareholders of 37% over the past three years. Reported Earnings • May 28
Full year 2024 earnings: EPS and revenues exceed analyst expectations Full year 2024 results: EPS: ₹102 (up from ₹83.54 in FY 2023). Revenue: ₹13.7b (up 4.8% from FY 2023). Net income: ₹2.08b (up 21% from FY 2023). Profit margin: 15% (up from 13% in FY 2023). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 2.3%. Earnings per share (EPS) also surpassed analyst estimates by 8.7%. Revenue is forecast to grow 9.4% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Luxury industry in India. Over the last 3 years on average, earnings per share has increased by 8% per year whereas the company’s share price has increased by 7% per year. Annonce • May 19
Garware Technical Fibres Limited to Report Q4, 2024 Results on May 27, 2024 Garware Technical Fibres Limited announced that they will report Q4, 2024 results on May 27, 2024 Reported Earnings • Jan 30
Third quarter 2024 earnings released: EPS: ₹21.23 (vs ₹17.74 in 3Q 2023) Third quarter 2024 results: EPS: ₹21.23 (up from ₹17.74 in 3Q 2023). Revenue: ₹3.01b (up 9.5% from 3Q 2023). Net income: ₹432.6m (up 18% from 3Q 2023). Profit margin: 14% (up from 13% in 3Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 9.6% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Luxury industry in India. Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has increased by 16% per year, which means it is tracking significantly ahead of earnings growth. Annonce • Jan 23
Garware Technical Fibres Limited to Report Q3, 2024 Results on Jan 29, 2024 Garware Technical Fibres Limited announced that they will report Q3, 2024 results on Jan 29, 2024 Reported Earnings • Nov 07
Second quarter 2024 earnings released: EPS: ₹25.75 (vs ₹23.17 in 2Q 2023) Second quarter 2024 results: EPS: ₹25.75 (up from ₹23.17 in 2Q 2023). Revenue: ₹3.38b (down 4.9% from 2Q 2023). Net income: ₹524.8m (up 9.9% from 2Q 2023). Profit margin: 16% (up from 13% in 2Q 2023). The increase in margin was driven by lower expenses. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Luxury industry in India. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has increased by 17% per year, which means it is tracking significantly ahead of earnings growth. Annonce • Oct 31
Garware Technical Fibres Limited to Report Q2, 2024 Results on Nov 06, 2023 Garware Technical Fibres Limited announced that they will report Q2, 2024 results on Nov 06, 2023 Price Target Changed • Sep 29
Price target decreased by 8.4% to ₹3,664 Down from ₹4,000, the current price target is provided by 1 analyst. New target price is 15% above last closing price of ₹3,175. Stock is down 7.8% over the past year. The company is forecast to post earnings per share of ₹94.76 for next year compared to ₹83.54 last year. Upcoming Dividend • Sep 04
Upcoming dividend of ₹3.50 per share at 0.1% yield Eligible shareholders must have bought the stock before 11 September 2023. Payment date: 18 October 2023. Payout ratio is a comfortable 4.2% and this is well supported by cash flows. Trailing yield: 0.1%. Lower than top quartile of Indian dividend payers (1.4%). Lower than average of industry peers (0.5%). Reported Earnings • Aug 15
First quarter 2024 earnings released: EPS: ₹21.08 (vs ₹13.67 in 1Q 2023) First quarter 2024 results: EPS: ₹21.08 (up from ₹13.67 in 1Q 2023). Revenue: ₹3.35b (up 10.0% from 1Q 2023). Net income: ₹429.6m (up 52% from 1Q 2023). Profit margin: 13% (up from 9.3% in 1Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Luxury industry in India. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has increased by 18% per year, which means it is tracking significantly ahead of earnings growth. Annonce • Aug 08
Garware Technical Fibres Limited to Report Q1, 2024 Results on Aug 14, 2023 Garware Technical Fibres Limited announced that they will report Q1, 2024 results on Aug 14, 2023 Reported Earnings • May 24
Full year 2023 earnings released: EPS: ₹83.54 (vs ₹79.92 in FY 2022) Full year 2023 results: EPS: ₹83.54 (up from ₹79.92 in FY 2022). Revenue: ₹13.3b (up 12% from FY 2022). Net income: ₹1.72b (up 4.5% from FY 2022). Profit margin: 13% (down from 14% in FY 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Luxury industry in India. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has increased by 32% per year, which means it is tracking significantly ahead of earnings growth. Annonce • May 23
Garware Technical Fibres Limited Recommends Dividend for the Financial Year 2022-23 Garware Technical Fibres Limited recommended a Dividend of INR 3.50/- per share (35%) on 20,378,169 Equity Shares of INR 10/- each, for the financial year 2022-23, for approval by the Members of the Company at ensuing Annual General Meeting. The total dividend for the year (subject to approval by the Shareholders of the Company at ensuing Annual General Meeting) would be INR 71,323,592/- The Dividend will be paid within 30 days from the date it is approved by the Members at ensuing Annual General Meeting of the Company. Annonce • May 17
Garware Technical Fibres Limited to Report Q4, 2023 Results on May 22, 2023 Garware Technical Fibres Limited announced that they will report Q4, 2023 results on May 22, 2023 Reported Earnings • Feb 10
Third quarter 2023 earnings: EPS and revenues miss analyst expectations Third quarter 2023 results: EPS: ₹17.74 (down from ₹18.46 in 3Q 2022). Revenue: ₹2.82b (down 8.3% from 3Q 2022). Net income: ₹365.7m (down 3.9% from 3Q 2022). Profit margin: 13% (in line with 3Q 2022). Revenue missed analyst estimates by 15%. Earnings per share (EPS) also missed analyst estimates by 16%. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Luxury industry in India. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has increased by 25% per year, which means it is tracking significantly ahead of earnings growth. Annonce • Feb 02
Garware Technical Fibres Limited to Report Q3, 2023 Results on Feb 09, 2023 Garware Technical Fibres Limited announced that they will report Q3, 2023 results at 3:30 PM, Indian Standard Time on Feb 09, 2023 Price Target Changed • Nov 17
Price target increased to ₹3,848 Up from ₹3,475, the current price target is an average from 3 analysts. New target price is 17% above last closing price of ₹3,302. Stock is down 4.4% over the past year. The company is forecast to post earnings per share of ₹89.30 for next year compared to ₹79.92 last year. Board Change • Nov 16
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 2 experienced directors. 4 highly experienced directors. Non-Executive Independent Director Mallika Sagar was the last director to join the board, commencing their role in 2019. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Oct 22
Second quarter 2023 earnings released: EPS: ₹23.17 (vs ₹19.83 in 2Q 2022) Second quarter 2023 results: EPS: ₹23.17 (up from ₹19.83 in 2Q 2022). Revenue: ₹3.64b (up 29% from 2Q 2022). Net income: ₹477.7m (up 17% from 2Q 2022). Profit margin: 13% (down from 14% in 2Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 10% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Luxury industry in India. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has increased by 44% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Aug 29
Upcoming dividend of ₹7.00 per share Eligible shareholders must have bought the stock before 05 September 2022. Payment date: 13 October 2022. Payout ratio is a comfortable 9.0% and this is well supported by cash flows. Trailing yield: 0.2%. Lower than top quartile of Indian dividend payers (1.6%). Lower than average of industry peers (0.5%). Reported Earnings • Aug 06
First quarter 2023 earnings released First quarter 2023 results: Revenue: ₹3.09b (up 27% from 1Q 2022). Net income: ₹281.9m (down 12% from 1Q 2022). Profit margin: 9.1% (down from 13% in 1Q 2022). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to grow 10%, compared to a 22% growth forecast for the industry in India. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has increased by 44% per year, which means it is tracking significantly ahead of earnings growth. Board Change • Jun 02
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 2 highly experienced directors. Non-Executive Independent Director Mallika Sagar was the last director to join the board, commencing their role in 2019. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • May 07
Full year 2022 earnings: EPS exceeds analyst expectations Full year 2022 results: EPS: ₹79.92 (up from ₹76.83 in FY 2021). Revenue: ₹12.1b (up 17% from FY 2021). Net income: ₹1.65b (up 4.0% from FY 2021). Profit margin: 14% (down from 15% in FY 2021). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 6.4%. Over the next year, revenue is forecast to grow 10%, compared to a 24% growth forecast for the industry in India. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has increased by 42% per year, which means it is tracking significantly ahead of earnings growth. Price Target Changed • Apr 27
Price target decreased to ₹3,341 Down from ₹4,050, the current price target is an average from 2 analysts. New target price is 10% above last closing price of ₹3,025. Stock is up 17% over the past year. The company is forecast to post earnings per share of ₹75.12 for next year compared to ₹76.82 last year. Price Target Changed • Mar 22
Price target decreased to ₹3,650 Down from ₹4,050, the current price target is provided by 1 analyst. New target price is 35% above last closing price of ₹2,706. Stock is up 12% over the past year. The company is forecast to post earnings per share of ₹74.40 for next year compared to ₹76.82 last year. Reported Earnings • Feb 13
Third quarter 2022 earnings: EPS and revenues miss analyst expectations Third quarter 2022 results: EPS: ₹18.46 (down from ₹20.19 in 3Q 2021). Revenue: ₹3.13b (up 12% from 3Q 2021). Net income: ₹380.6m (down 12% from 3Q 2021). Profit margin: 12% (down from 16% in 3Q 2021). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 3.8%. Earnings per share (EPS) also missed analyst estimates by 18%. Over the next year, revenue is forecast to grow 15%, compared to a 23% growth forecast for the industry in India. Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has increased by 44% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Nov 15
Second quarter 2022 earnings released: EPS ₹19.83 (vs ₹20.54 in 2Q 2021) The company reported a soft second quarter result with weaker earnings and profit margins, although revenues improved. Second quarter 2022 results: Revenue: ₹2.82b (up 5.0% from 2Q 2021). Net income: ₹408.9m (down 7.8% from 2Q 2021). Profit margin: 14% (down from 17% in 2Q 2021). The decrease in margin was driven by higher expenses. Upcoming Dividend • Sep 01
Upcoming dividend of ₹2.50 per share Eligible shareholders must have bought the stock before 08 September 2021. Payment date: 16 October 2021. Trailing yield: 0.1%. Lower than top quartile of Indian dividend payers (1.5%). Lower than average of industry peers (0.4%). Price Target Changed • Jul 14
Price target increased to ₹4,000 Up from ₹3,300, the current price target is provided by 1 analyst. New target price is 17% above last closing price of ₹3,428. Stock is up 126% over the past year. Reported Earnings • May 30
Full year 2021 earnings released: EPS ₹74.64 (vs ₹64.22 in FY 2020) The company reported a solid full year result with improved earnings and revenues, although profit margins were flat. Full year 2021 results: Revenue: ₹10.3b (up 8.5% from FY 2020). Net income: ₹1.58b (up 13% from FY 2020). Profit margin: 15% (in line with FY 2020). Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has increased by 44% per year, which means it is tracking significantly ahead of earnings growth. Price Target Changed • Apr 29
Price target increased to ₹3,150 Up from ₹2,338, the current price target is an average from 2 analysts. New target price is 21% above last closing price of ₹2,611. Stock is up 103% over the past year. Is New 90 Day High Low • Feb 17
New 90-day high: ₹2,401 The company is up 15% from its price of ₹2,085 on 19 November 2020. The Indian market is up 21% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Luxury industry, which is up 17% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ₹910 per share.