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Garware Synthetics

BSE:514400
Snowflake Description

Weak fundamentals or lack of information.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
514400
BSE
₹23M
Market Cap
  1. Home
  2. IN
  3. Consumer Durables
Company description

Garware Synthetics Limited manufactures and sells nylon monofilaments, bristles, and fishing lines in India. The last earnings update was 9 days ago. More info.


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  • Garware Synthetics has significant price volatility in the past 3 months.
514400 Share Price and Events
7 Day Returns
0%
BSE:514400
0.3%
IN Luxury
1%
IN Market
1 Year Returns
-67.2%
BSE:514400
-8.7%
IN Luxury
-8.2%
IN Market
514400 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Garware Synthetics (514400) 0% -0.5% 13% -67.2% -79.6% -46.8%
IN Luxury 0.3% -0.2% -2.3% -8.7% 55.9% 186.4%
IN Market 1% -2.2% -1.2% -8.2% 46.7% 78.8%
1 Year Return vs Industry and Market
  • 514400 underperformed the Luxury industry which returned -8.7% over the past year.
  • 514400 underperformed the Market in India which returned -8.2% over the past year.
Price Volatility
514400
Industry
5yr Volatility vs Market

Value

 Is Garware Synthetics undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Garware Synthetics to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data    Our calculation method for this is changing soon.

Below are the data sources, inputs and calculation used to determine the intrinsic value for Garware Synthetics.

BSE:514400 Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Extrapolated from most recent financials. See below
Discount Rate (Cost of Equity) See below 17.5%
Perpetual Growth Rate 10-Year IN Government Bond Rate 7.6%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for BSE:514400
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year IN Govt Bond Rate 7.6%
Equity Risk Premium S&P Global 7.5%
Luxury Unlevered Beta Simply Wall St/ S&P Global 0.57
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.573 (1 + (1- 35%) (205.69%))
1.339
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.34
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 7.55% + (1.339 * 7.45%)
17.53%

Discounted Cash Flow Calculation for BSE:514400 using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Garware Synthetics is arrived at by discounting future cash flows to their present value using the 2 stage method. We use analyst's estimates of cash flows going forward 5 years for the 1st stage, the 2nd stage assumes the company grows at a stable rate into perpetuity.

BSE:514400 DCF 1st Stage: Next 5 year cash flow forecast
2019 2020 2021 2022 2023
Levered FCF (INR, Millions) 0.13 0.13 0.14 0.15 0.16
Source Est @ 5.32% Est @ 5.32% Est @ 5.32% Est @ 5.32% Est @ 5.32%
Present Value
Discounted (@ 17.53%)
0.11 0.10 0.09 0.08 0.07
Present value of next 5 years cash flows ₹0.44
BSE:514400 DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2023 × (1 + g) ÷ (Discount Rate – g)
= ₹0.16 × (1 + 7.55%) ÷ (17.53% – 7.55%)
₹1.68
Present Value of Terminal Value = Terminal Value ÷ (1 + r)5
= ₹1.68 ÷ (1 + 17.53%)5
₹0.75
BSE:514400 Total Equity Value
Calculation Result
Total Equity Value = Present value of next 5 years cash flows + Terminal Value
= ₹0.44 + ₹0.75
₹1.19
Equity Value per Share
(INR)
= Total value / Shares Outstanding
= ₹1.19 / 5.81
₹0.2
BSE:514400 Discount to Share Price
Calculation Result
Value per share (INR) From above. ₹0.20
Current discount Discount to share price of ₹3.90
= -1 x (₹3.90 - ₹0.20) / ₹0.20
-1808.6%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of Garware Synthetics is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Garware Synthetics's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Garware Synthetics's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
BSE:514400 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in INR ₹-0.17
BSE:514400 Share Price ** BSE (2019-02-04) in INR ₹3.9
India Luxury Industry PE Ratio Median Figure of 236 Publicly-Listed Luxury Companies 11.69x
India Market PE Ratio Median Figure of 2,709 Publicly-Listed Companies 15.49x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Garware Synthetics.

BSE:514400 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= BSE:514400 Share Price ÷ EPS (both in INR)

= 3.9 ÷ -0.17

-23.07x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Garware Synthetics is loss making, we can't compare its value to the IN Luxury industry average.
  • Garware Synthetics is loss making, we can't compare the value of its earnings to the India market.
Price based on expected Growth
Does Garware Synthetics's expected growth come at a high price?
Raw Data
BSE:514400 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -23.07x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
Not available
India Luxury Industry PEG Ratio Median Figure of 27 Publicly-Listed Luxury Companies 0.99x
India Market PEG Ratio Median Figure of 607 Publicly-Listed Companies 1.15x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for Garware Synthetics, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Garware Synthetics's assets?
Raw Data
BSE:514400 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in INR ₹-2.44
BSE:514400 Share Price * BSE (2019-02-04) in INR ₹3.9
India Luxury Industry PB Ratio Median Figure of 306 Publicly-Listed Luxury Companies 0.71x
India Market PB Ratio Median Figure of 3,588 Publicly-Listed Companies 1.05x
BSE:514400 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= BSE:514400 Share Price ÷ Book Value per Share (both in INR)

= 3.9 ÷ -2.44

-1.6x

* Primary Listing of Garware Synthetics.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Garware Synthetics has negative assets, we can't compare the value of its assets to the IN Luxury industry average.
X
Value checks
We assess Garware Synthetics's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Luxury industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Luxury industry average (and greater than 0)? (1 check)
  5. Garware Synthetics has a total score of 0/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Garware Synthetics expected to perform in the next 1 to 3 years based on estimates from 0 analysts?

In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Garware Synthetics has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by Simply Wall St do have past financial data. You can see them here.

Show me the analysis anyway

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
18.4%
Expected Luxury industry annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Garware Synthetics expected to grow at an attractive rate?
  • Unable to compare Garware Synthetics's earnings growth to the low risk savings rate as no estimate data is available.
Growth vs Market Checks
  • Unable to compare Garware Synthetics's earnings growth to the India market average as no estimate data is available.
  • Unable to compare Garware Synthetics's revenue growth to the India market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
BSE:514400 Future Growth Rates Data Sources
Data Point Source Value (per year)
India Luxury Industry Earnings Growth Rate Market Cap Weighted Average 18.4%
India Luxury Industry Revenue Growth Rate Market Cap Weighted Average 15%
India Market Earnings Growth Rate Market Cap Weighted Average 18.6%
India Market Revenue Growth Rate Market Cap Weighted Average 11.7%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
BSE:514400 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
All numbers in INR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
BSE:514400 Past Financials Data
Date (Data in INR Millions) Revenue Cash Flow Net Income *
2018-12-31 105 -1
2018-09-30 100 1
2018-06-30 95 3
2018-03-31 96 2 3
2017-12-31 94 4
2017-09-30 93 4
2017-06-30 92 5
2017-03-31 85 3 5
2016-12-31 83 5
2016-09-30 80 4
2016-06-30 86 1
2016-03-31 79 1 2

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Unable to determine if Garware Synthetics is high growth as no earnings estimate data is available.
  • Unable to determine if Garware Synthetics is high growth as no revenue estimate data is available.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
BSE:514400 Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below

All data from Garware Synthetics Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

BSE:514400 Past Financials Data
Date (Data in INR Millions) EPS *
2018-12-31 -0.17
2018-09-30 0.23
2018-06-30 0.48
2018-03-31 0.59
2017-12-31 0.65
2017-09-30 0.71
2017-06-30 0.88
2017-03-31 0.81
2016-12-31 0.83
2016-09-30 0.68
2016-06-30 0.19
2016-03-31 0.29

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if Garware Synthetics will efficiently use shareholders’ funds in the future without estimates of Return on Equity.

Next steps:

  1. Take a look at our analysis of 514400’s management and see if the CEO’s compensation is within a reasonable range, who is on the board and if insiders have been trading lately.
  2. Garware Synthetics's future outlook can be gauged by looking at industry trends and market size, and determining how well-positioned the company is compared to its competitors. Take a look at other high-growth Consumer Durables companies here
  3. Garware Synthetics's competitive advantages and company strategy can generally be found in its financial reports archived here.
  4. Use fundamentals to screen for another stock to analyse from our database of over 75,000 companies worldwide
X
Future performance checks
We assess Garware Synthetics's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the India market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the India market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Garware Synthetics has a total score of 0/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Garware Synthetics performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Garware Synthetics's growth in the last year to its industry (Luxury).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Garware Synthetics does not make a profit even though their year on year earnings growth rate was positive over the past 5 years.
  • Unable to compare Garware Synthetics's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare Garware Synthetics's 1-year growth to the IN Luxury industry average as it is not currently profitable.
Earnings and Revenue History
Garware Synthetics's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Garware Synthetics Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

BSE:514400 Past Revenue, Cash Flow and Net Income Data
Date (Data in INR Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 104.81 -0.97 21.42
2018-09-30 99.92 1.31 20.59
2018-06-30 94.76 2.79 15.90
2018-03-31 96.02 3.45 19.46
2017-12-31 94.00 3.76 19.75
2017-09-30 92.68 4.16 19.49
2017-06-30 92.17 5.13 19.37
2017-03-31 85.35 4.69 19.06
2016-12-31 82.57 4.81 18.35
2016-09-30 79.86 3.98 18.37
2016-06-30 86.21 1.09 14.83
2016-03-31 79.01 1.67 18.23
2015-12-31 80.03 6.45 20.92
2015-09-30 81.32 7.12 20.31
2015-06-30 93.19 7.69 13.51
2015-03-31 81.03 6.12 15.95
2014-12-31 80.13 3.03 17.42
2014-09-30 78.59 0.04 17.39
2014-06-30 85.53 0.71 12.04
2014-03-31 74.29 0.86 17.17
2013-12-31 74.40 -7.47 16.77
2013-09-30 73.24 -4.93 16.50
2013-06-30 79.06 0.94 10.51
2013-03-31 73.66 2.43 16.31
2012-12-31 75.75 7.74 14.44
2012-09-30 77.54 7.98 14.08
2012-06-30 85.23 4.86 11.30
2012-03-31 76.38 1.40 15.09

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • It is difficult to establish if Garware Synthetics has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) due to its liabilities exceeding its assets.
  • Garware Synthetics used its assets less efficiently than the IN Luxury industry average last year based on Return on Assets.
  • It is difficult to establish if Garware Synthetics improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.
X
Past performance checks
We assess Garware Synthetics's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Luxury industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Garware Synthetics has a total score of 0/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Garware Synthetics's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Garware Synthetics's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Garware Synthetics's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • Garware Synthetics's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Garware Synthetics's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Garware Synthetics has negative shareholder equity (liabilities exceed assets) therefore debt is not covered by short term assets.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Garware Synthetics Company Filings, last reported 1 month ago.

BSE:514400 Past Debt and Equity Data
Date (Data in INR Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 -14.11 46.60 1.97
2018-09-30 -14.11 46.60 1.97
2018-06-30 -14.73 44.84 2.29
2018-03-31 -14.73 44.75 2.29
2017-12-31 -15.90 44.60 -1.52
2017-09-30 -15.90 44.60 -1.52
2017-06-30 -18.18 44.18 0.96
2017-03-31 -18.18 44.18 0.96
2016-12-31 -19.51 43.68 -0.35
2016-09-30 -19.51 43.68 -0.35
2016-06-30 -22.87 45.22 0.19
2016-03-31 -22.87 45.22 0.19
2015-12-31 -23.51 46.90 1.82
2015-09-30 -23.51 46.90 1.82
2015-06-30 -24.53 45.78 1.15
2015-03-31 -24.53 45.78 1.15
2014-12-31 -43.82 59.53 2.15
2014-09-30 -43.82 59.53 2.15
2014-06-30 -43.86 59.67 1.02
2014-03-31 -43.86 59.67 1.02
2013-12-31 -43.90 58.86 0.97
2013-09-30 -43.90 58.86 0.97
2013-06-30
2013-03-31 -44.72 60.53 0.83
2012-12-31
2012-09-30
2012-06-30
2012-03-31 -22.14 48.13 0.57
  • Garware Synthetics has negative shareholder equity (liabilities exceed assets), this is a more serious situation compared with a high debt level.
  • Irrelevant to check if Garware Synthetics's debt level has increased considering it has negative shareholder equity.
  • Debt is not well covered by operating cash flow (4.9%, less than 20% of total debt).
  • Garware Synthetics is making a loss, therefore interest payments are not well covered by earnings.
X
Financial health checks
We assess Garware Synthetics's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Garware Synthetics has a total score of 0/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is Garware Synthetics's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
0%
Current annual income from Garware Synthetics dividends.
If you bought ₹2,000 of Garware Synthetics shares you are expected to receive ₹0 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Unable to evaluate Garware Synthetics's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Garware Synthetics's dividend against the top 25% market benchmark as the company has not reported any payouts.
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
BSE:514400 Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
India Luxury Industry Average Dividend Yield Market Cap Weighted Average of 109 Stocks 0.7%
India Market Average Dividend Yield Market Cap Weighted Average of 1397 Stocks 1.4%
India Minimum Threshold Dividend Yield 10th Percentile 0.3%
India Bottom 25% Dividend Yield 25th Percentile 0.6%
India Top 25% Dividend Yield 75th Percentile 2%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to perform a dividend volatility check as Garware Synthetics has not reported any payouts.
  • Unable to verify if Garware Synthetics's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of Garware Synthetics's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Garware Synthetics has not reported any payouts.
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess Garware Synthetics's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.3%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Garware Synthetics afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Garware Synthetics has a total score of 0/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Garware Synthetics's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Sunder Moolya
COMPENSATION ₹494,000
AGE 67
CEO Bio

Mr. Sunder Kocha Moolya serves as a Managing Director Whole Time Director at Garware Synthetics Limited and serves its Whole Time Director since May 02, 2001.

CEO Compensation
  • Sunder's compensation has increased whilst company is loss making.
  • Sunder's remuneration is lower than average for companies of similar size in India.
Management Team

Sunder Moolya

TITLE
MD & Whole Time Director
COMPENSATION
₹494K
AGE
67

Santosh Borkar

TITLE
Executive Director
COMPENSATION
₹360K
AGE
50
Board of Directors Tenure

Average tenure of the Garware Synthetics board of directors in years:

9.8
Average Tenure
  • The tenure for the Garware Synthetics board of directors is about average.
Board of Directors

Sunder Moolya

TITLE
MD & Whole Time Director
COMPENSATION
₹494K
AGE
67
TENURE
17.8 yrs

Santosh Borkar

TITLE
Executive Director
COMPENSATION
₹360K
AGE
50
TENURE
9.8 yrs

Ramesh Chandorkar

TITLE
Non-Executive & Independent Director
COMPENSATION
₹15K

Kirtikumar Doshi

TITLE
Non-Executive & Independent Director
COMPENSATION
₹15K

Shilpa Parab

TITLE
Independent & Non- Executive Director
TENURE
0.1 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (₹) Value (₹)
X
Management checks
We assess Garware Synthetics's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Garware Synthetics has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Company Info

Map
Description

Garware Synthetics Limited manufactures and sells nylon monofilaments, bristles, and fishing lines in India. The company offers nylon bristles for use in tooth, shaving, and industrial and household brushes; polypropylene bristles; and nylon finishing line products. It also provides nylon rods, bushes, and machinery parts for applications in engineering, textile, metal, material handling equipment, automobile, marine, paper/sugar mill, bottling and food processing, railway, and chemical industries. In addition, the company offers nylon tubings for use in automotive gasoline, high pressure lubricant, refrigeration line, air lines on pneumatic control system, gas lines, fuel line for petrol engine, and beverage line applications. Further, it develops nylon sutures for medical applications. The company offers its products under the Garflon brand name. Garware Synthetics Limited was founded in 1958 and is based in Thane, India.

Details
Name: Garware Synthetics Limited
514400
Exchange: BSE
Founded: 1958
₹22,654,710
5,808,900
Website: http://www.garwaresyn.com
Address: Garware Synthetics Limited
Manish Textiles Industrial Premises,
Opposite Golden Chemical,
Thane,
Maharashtra, 401104,
India
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
BSE 514400 Equity Shares Mumbai Stock Exchange IN INR 27. Sep 2013
Number of employees
Current staff
Staff numbers
77
Garware Synthetics employees.
Industry
Textiles
Consumer Durables
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/02/23 12:33
End of day share price update: 2019/02/04 00:00
Last earnings filing: 2019/02/14
Last earnings reported: 2018/12/31
Last annual earnings reported: 2018/03/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.