THE NET HAS BEEN CAST

For decades, Pune-based Garware Technical Fibres made ropes and nets from man-made fibre. Then, third-gen entrepreneur Vayu Garware decided to pivot it into an innovation-led player. Not only has its stock shot up by 400% in the last four years, but the company has also found success in uncharted salmon-rich waters across the globe.

- T.SURENDAR

THE NEXT

RANK 291 (292)

2020 COMPANY PROFILE

GARWARE TECHNICAL FIBRES

REVENUE

₹1,040.57 CRORE

PROFIT

₹125.68 CRORE

NET WORTH

₹650.34 CRORE

EMPLOYEE COST

₹129.95 CRORE

KEY

NO CHANGE

MOVED UP

MOVED DOWN

NEW

NOTE: THE NUMBER IN BRACKETS DENOTES LAST YEAR’S RANK; FORTUNE INDIA NEXT 500 RANKING IS BASED ON FY19 DATA.

NET PROFIT Garware Technical Fibres, led by Vayu Garware, has seen its profits jump 300% between March 2015 and March 2019.

IT IS A COOL JANUARY MORNING and the vista is pleasing. Large industrial sheds dot a mountainous terrain in Wai, in the foothills of Mahabaleshwar, a scenic hill station in Maharashtra. Apart from the one-toned clanking of machines from a few sheds, what prevails is the industrious quiet of women squatting inside the sheds, knotting giant nets (some are over a kilometre in length).