Garware Wall Ropes – Climb The Wall With This Rope

Background: A Technical textile is a textile product manufactured for non-aesthetic purposes, where function is the primary criterion. It is a large and growing sector and supports a vast array of other industries. Unfortunately, technical textiles is clubbed with pure textiles and that’s why sometimes these wonderful gems go undiscovered and unappreciated.

The Company: Garware Wall Ropes, is a Leading Indian player in Technical Textiles. GWRL with its tremendous expertise in Polymer Engineering, provides solutions for various verticals like Deep-sea fishing, Acquaculture, Shipping, Agriculture, Sports, Infrastructure, Defense and Transportation. GWRL is the largest domestic manufacturer of High-density polyethylene (HDPE) and polypropylene (PP) twines, ropes and nets, which find application in fishing, shipping, industrial and transportation sector. Additionally, the company also manufactures polypropylene monofilament (PPMF) yarn, a niche segment. Besides manufacture of some of the geo-synthetic products, the company also trades in geo-synthetic products that it imports from leading geo synthetic players in UK, Germany, and USA. GWRL produces various industry leading solutions from its massive integrated manufacturing facilities in Pune, Wai and Silvassa.

The company holds a dominant share of the domestic market with its fishnet brands Garfil and Sapphire, mainly on the strength of its brand image, product quality, and wide dealer network. This has enabled GWRL command price premium over competing products. The fishing, Aquaculture and allied verticals have been the major revenue contributor till recent past. In recent times, GWRL has expanded into different verticals and its sales growth has come from this expansion into new product lines such as geo-synthetics, growing sales of its polypropylene mono filament (PPMF) yarn, and an increasing share of high value-add premium products (like Sports Nets) in its overall product mix. Further, the company entered into segments like coated fabrics and agri-tech last year and the same has started to support the revenue growth from this year onwards. Most importantly, the company eyes a big defense Pie. The company has created numerous out-of-the-box solutions for the defense sector in partnership with DRDO and expects to get strong topline and bottoline growth from this vertical moving forward. Over the years, GWRL has been able to improve realization across all product segments, leading to higher sales and profitability. The company has a well-diversified customer base across countries. GWRL’s success in the export markets has come mainly on the strength of its product quality, range and cost competitiveness, which have enabled strong growth in gross sales in the past.

Lets, look at the verticals and its solutions and products in detail:

  1. Fisheries – One of the most important vertical for GWRL this vertical provides Fish Nets, Twines and Ropes. The company has several industry defining products like OPENER, for mouth portion of net, ROCKY for safe fishing on rocky grounds, STAR for better speed and water outflow in the belly portion of the net and KNOTLESS CODEND, which ensures no damage to the catch.


 2. Defense – This is one of the latest addition to the verticals of GWRL and is probably the most promising. What is remarkable is the amount of research and solutions being already developed for the defense sector. The company is a trend setter in this sector. Defense textiles business has become a highly technology intensive segment in modern times. GWRL has developed a strong association as an Industry partner with Aerial Delivery Research & Development Establishment (ADRDE) an associate office of DRDO.

   a) Flexible Helimatpatent pending. Specialised application for Indian defence sector. During landing & take-off of helicopter the rotor downwash results in ‘browning effect’ throwing up sand and dust in the air putting the helicopter and pilot at risk. GWRL has developed the innovative ‘Flexible helimat’ (patent pending) made out of multilayered HDPE warp knitted fabrics to protect the helicopter and the pilot from brown-outs. It is much superior compared to other products of its class in terms of light weight, ease of transportation, assembling and deployment on the field. Helimat is available in camouflaging designs & colors to match terrain such as suit desert, semi desert as well as jungle areas.


b) Inflated structure for Radars- This is first time such a structure is being indigenously built in India under partnership between Garware Wall-Ropes Ltd and Aerial Delivery Research & Development Establishment (DRDO).This inflatable structure is a weather proof enclosure to protect the electronic equipments from damage due to high winds, flying debris, temperature extremes, icing and sandstorms.

 c) Aerostat balloon – Indigenization for Indian Defence sector and value addition for the coated fabric division. The Tethered Aerostat Radar System, or TARS, is a stationary airborne platform system intended primarily for military surveillance programs as it is capable of detecting low altitude aircrafts.


  d) High performance cordage made out of Nylon, Polyester, Aramid & Dyneema ranging from few mm to few inches are being developed and supplied to all the Army, Navy, Air force & other defense departments for applications in parachutes, transport, aerostat balloons etc.

3. Aquaculture – This is one of the most important and growing vertical for Aquaculture and provides Cages, Predator nets, Bird Protection nets, knotless Netting and Mooring.GWRL in recent years came out with altogether a new material for net-pen that inherently resists fouling and does not require copper treatment. This product has literally revolutionized aquaculture.


 4. Agriculture – This vertical is used for value-added applications such as shade nets,crop covers, mulch nets, anti-hail nets, bird-protection nets and green house covers. Last year it expanded its product range to include insect-protection nets that prevents infestation and crop damage. Company is expected to launch products for other areas like sericulture and floriculture.


5. Coated Fabrics – The company recently introduced this vertical by introducing a multi-benefit product for users of tents and pandals. The product provides protection against fire, UV rays, dust, wind and water. While the conventional textile used to erect tents or pandals are made from highly ignitable materials, GWRL product is made from fire-retardant fabrics.


6. Yarn & Threads – This vertical provides yarn and threads for various applications like Woven Sack,Jute Bag stiching, Weaving, Shoe stiching, Bag Closing and even Doll Hair. A lot of its end application is stiching bags used in delivering e-commerce goods.


7. Sport Nets – It provides nets for almost all sports like Tennis, Soccer, Badmition, Hockey, Volley Ball, Swimming Pool nets etc. This is an ever-green vertical for GWRL and it has a strong brand name in this vertical world wide.


8. Geosynthetics – GWRL offers solutions in various applications such as Rockfall Protection, Coastal & River Protection, Erosion Control, Landfill and Lining Systems, Earth Retention Systems and Ground Improvement Techniques.


The company has a very strong R&D culture as evident from various patents and patent pending solutions such as Sapphire Ultracore Predator Protection Nets (Patent pending. A unique mixture of polymer and metal wires with a stiffening resin), Garfil STAR yarn (High strength special polyolefin yarn – patent pending) apart from Flexible Helimat as mentioned above etc.

Valuations: The company has an extremely healthy dividend payout and has a record of un-interrupted dividend payout. The company has been consistently generating very good cash flows and is trading at 0.65 times market cap to FY14 sales (684cr_ and at a forward PE of around 10. GWRL has been reducing debt with the debt reducing from over 42cr in FY12 to around 10cr. The promoter holding has increased from 46% to over 50.25% with additional 6% being held by another garware company and GRWL Trust. For the first half of this FY, the company has delivered a growth of 23.4% on topline and a profit growth of around 68.4%. The H2 of the company is expected to be even better and a futher fillip to this belief comes from last week’s promoter buying just before declaring the trading window.

Technicals:The stock is trading at multi-year high and is currently trading above its support levels of 203-204. It is looking at set to break its multi-year highs of 224 and if it closes above it, this would signal tremendous strength further. Needless to say stock technically is very strong.

GWRL has very good capital structure and debt coverage indicators; healthy cash accruals; a dominant market share in the domestic fishnets, ropes and twines business backed by a strong established presence in the export markets. Exports contribute close to 45% of revenues for the company and therefore, there’s a natural hedge available. Changes in export incentives had affected the profitability of GWRL last year, however, with improved realizations and favorable addition and changes in product portfolio, the company was not only able to protect the operating income as well as net profits but also increase it. The company and business is extremely diverse and this gives it very good diversity in earnings and therefore, stability. Most importantly the company is very innovative and is continuously re-discovering itself. No wonder that even when the world including india was not growing the company kept on re-inventing itself and kept on growing. The company has a very strong product portfolio and does not have a direct competitor. The present government’s thrust on defense opens up a huge additional opportunity for GWRL and the company has already started to innovate and demonstrate multiple unique products for the sector. The company was hoping to do 1000cr turnover in next two FY but with the changing indian scenario and improving its US and Europe markets, the company could easily overshoot this by 10-15%.

Note:The volumes are pretty high for some reason and its quite possible that the stock is by default trying to breakout above 224-225 levels in anticipation of good results. Please research the stock fully and only if convinced take further action. This is one of the most stable small cap stock around.

Disclaimer: No holding in the stock, but it is safe to assume that I may or may not invest in future. Also, the above stock view is my personal view in individual capacity. For rest, please look at the About page.

God Bless !!

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283 Responses to Garware Wall Ropes – Climb The Wall With This Rope

  1. SAY says:

    Known this from 70’s but did not have heart and was unaware of industry potential.

  2. Euphoria says:

    Thanks Ace! This surely is a good one to invest in!

  3. Mayur says:

    Tracking from 160 levels but did not enter due to sector uncertainty..Thanks Ace for covering this too.

  4. anujpress24 says:

    Hey Ace

    Good pick ..but have one question .. I see a contingent liability of 140+ Cr ..
    Any idea what’s this they have some court case pending ..


  5. Dinesh Agarwal says:

    sir why not recommend when it was available at 150?

    • because sir, in my books 187 was an important resistance to cross and by your logic the stock was even available at 100rs. if you are so focussed on price kindly do not enter. God Bless

      • Dinesh Agarwal says:

        ok 😦

        • are bhai…apologies if i was a little to curt with my reply but you understand my point. and just to add, at 150….atleast at that time i was not sure if the company would deliver what it promised in topline and especially in bottomline, but now i am certain. that’s all. just take your own call on this one buddy.

  6. Rohit Gulati says:

    A very fine pick!!!

  7. Prem says:

    Fantastic pick…..:) well ACE as we know railway budget will come in few days and with their promises could we bet on “STONE INDIA LTD” need your view sir 🙂

  8. Niranjan says:

    Hi Ace,

    Nice write-up. Will research on this one a little more. One thing I noticed was it made similar move in 2008 and topped out. Do you think it would be wise to let it break that resistance first?



  9. Jitendra says:

    Thanks ACE,
    Entered @224.00 today. Very thanks for this recommendation during market hours.

  10. Dinesh Agarwal says:

    Sir they are also selling online at alibaba “sportiva” brand

  11. Rakesh says:

    This link gives perspective on the type of products they are selling through alibaba. Very good pick.

  12. Ace Fan says:

    Sir, what is your view on Patels Airtemp?

  13. vinod says:

    Dear Ace,

    Whats ur view on “sun pharma advanced research company” for long term (>1 year).

    Thanks in advance

  14. M Prabhu says:

    As many said it has been in my watchlist aswell so long.. Now the time has come to enter… Let me add some more about Garware wall ropes which was not covered in the article.. In Power Transmission line Erection, Poly Poplyene rope is must requirement in various sizes, being in procurement have given somuch orders altogether in crores last two years… the point was trying to communicate here is there are so many makes available for PP rope with reasonable price, even then industry preference particularly most transmission line EPC companies (known from friends) including my previous company preference is only garware rope even though price of the same is always 10% costlier than other makes. Friend of mine of Transmission Erection team informed from his experience as far as quality wise garware rope is superior and safety is surely ensured while doing the transmission line work which gives clear idea Garware is having direct pricing power in this vertical. It should be correct, as far as PP rope has concerned I have never given any orders apart from Garware make all my experience even though costly.. despite other diversify verticals I do see lot potential in power sector aswell for the years ahead as hope the government moves in a right direction for the solution to get rid of power scarcity here.
    It will be sure wealth creator..

  15. Vardhan says:

    ACE how do you rate Rajoo vs Windsor,

    In ET they show losses for quarter, but ROE and other ratios are excellent

    • i guess in one of the comments i compared it probably , but i dont like windsor and the reasons for which i dont like windsor is exactly why i like rajoo a lot more. rajoo not only survived but also thrived, though windsor was the leader earlier

  16. Niranjan says:

    Hi Ace

    An extract that I found on Freshtrop, hoping you and the readers of the blog would find it useful.


    Shared by our friend kpthakershy who has met the management/cs officer : money control- date 2/2/2015- thankyou sir

    Here are the minutes: Topline growth intact at 25 to 30%.. All export orders fully executed.. around 400 Containers have been shipped already.. They only export Grapes in terms of fruits (major), other than that they have recently started Pomegranate with advance technology which separates the skin from seeds. It is in demand… Interestingly EU Ban was never an issue with them, even during EU Ban they used to export Mango Pulp. They did not export Mango as fruit however always exported Manog Pulp and Plulp was not banned only the fruit was banned. So technically EU Ban was not a factor for their balancesheet… Very interesting.. Food Processing has already broken even 🙂 so in future it will add to bottom line.. Food processing is 60% domestic and 40% Export… area of concern were correction in Euro however they do hedging and take care of it.. however i could see that he was more worried on falling Euro.. They may start Banan.. no clear indication however uncomfortably he said yes we may we may not but time will tell.. On promoter buying he said promoters have always baught in allowed 5% window. Mr. ashok has always respected the 5% window of increasing holding and may do so… They are not eying any new Countries however EU being a major one and they started exporting it in Russia since last two years.. However they are already exporting to their full capacity so there are less chance of adding a new country, unless they increase capacity which is less likely.. Weather is favorable as per him for this year.. In nutshell this year thay have already done production to 100% capacity and have already exported it and the take away was to know Break Even for Food Processing which was earlier washing away profits from Grapes export… Cheers..

  17. Abey says:

    View on BLS inf

  18. skdc14 says:

    Dear Ace .
    Thanks again for the good pick and the timing of posting. Very nice presentation. I could enter @230 today. A bit high but I am happy.

  19. msupekar2 says:

    Ace, got an opportunity to add this gem at 229. Thanx

  20. msupekar2 says:

    Can you throw some light on Titagarh Wagon. Results are promising. Have entered at 355 levels. Has appriciated almost 30% in 3 days. Is it advisable to book profit or else hold for long term. I can hold, but cant assess future prospects.

  21. sangram says:

    I rate this one of the best and well diversified business you have recommended till date. Thank you for this awesome company.
    Disc. Bought some quantity at this price. After some research will add.

  22. Prem says:

    Ace sir….. FCEL may show strength in future??? Its looking promising.

  23. Roshan says:

    Ace ..i wanted to ask u bout v2 retail…as per my understanding Mr. Agarwal wanted to take things slowly this time around..but according to their website..they want to open about 20-30 new stores this year…dont u think its a little bit ambitious ??

    • not sure if that content is updated, but these many company owned stores is not possible IMHO, though a franchisee route could be explored. but for that their IT systems have to be in place which again should be top class.

      • indianbull10 says:

        Ace, u not sounding very upbeat about V2’s future, it seems. In one of the interviews, the promoter is hoping to have a store count beyond vishal days, obviously that will take time, but he sure wants to have more stores. You have any updated information why 20-30 stores not possible to be owned by the company?

        • 20-30 new stores in one year is very ambitious, if it has to be company owned. ofcourse he can have these many additional stores next few years but in just one year will not be wise. i want them to grow the way they are growing right now. if they plan to open 20-30 stores in next one yr where are they going to get funds from? debt? also they have to concentrate on e-commerce so i think it will be too many things. franchise would be better or a slower pace.. other than this ofcourse i am bullish on v2

      • indianbull10 says:

        hmm.. no debt offcourse. Debt is what led to demise of erstwhile vishal megamart. Hope their ecommerce venture takes off soon and is a profitable one, the proceedings of which could probably used for store expansion, but yes, the big one here is ecommerce for V2.

      • indianbull10 says:

        *the proceeds of which

      • Roshan says:

        Hoping for a solid set of numbers tomorrow from V2…:)

    • indianbull10 says:

      Ace, sorry, but another question. Your last post about store expansion has made me think. Lets assume it is difficult for V2 to expand by 20 stores, ecommerce still WIP, but no concrete evidence, franchisee model being explored but again nothing concrete, how is V2 going to manage/push for growth with just 16 stores? basically i am looking for next trigger points for V2’s growth and its subsequent effect on price moving up.

      • next trigger has to come from expansion from ecom and more number of stores. if this does not happen then you have to rely on same stores sales growth which is very dificult to maintain in double digits, so i am pretty sure it would come from expansion and ecom.

      • indianbull10 says:

        hmm.. wait and watch then. at times, it becomes very frustrating. hearing from v2 since last 6 months that they wanna start ecom, but nothing there yet(only selling thru ebay at the moment). no news on store expansion front also.

      • Roshan says:

        i think v2 may open up 5 company owned stores this year with the rest being through franchisee..

      • indianbull10 says:

        lets hope they have some announcement tomorrow for ecom/store along with Q3 numbers

      • indianbull10 says:

        oh ok.. but it seems tomorrows numbers to be good. stock has moved up in anticipation since monday. usually its the bumper quarter for these retailers

  24. sumesh says:

    hi whats ur view of Stewart and Mackertich Investment and Financial thanks

  25. Vivek says:

    Sir ji Mcap is more that 300Cr which was one of your policy for stock recommendation? Anyways its a good pick.

  26. Sarfraz says:

    Dear Ace,
    Can you please share your view on Prozone Intu properties over future growth and prospects ?

  27. tiwarianeesh says:

    Hi Ace,
    Your view on Sintex Industries and Exide?

  28. shyam says:

    Dear Ace
    Your Views on Divyashakti Grantine Limited

  29. Serene says:

    Hi Ace,

    What about Kitex for your view?

      • akshay says:

        Hi ace,

        Do you think there could be any issues related to corporate governance in Kitex? I am invested in Kitex and want to add further but due to issues highlighted in other forums I have held back.

      • akshay says:


        The issues highlighted were.

        Corporate governance related:-
        I havent verified point no.2 personally-
        1) Filing of balance sheet on 4th April which seems impossible by some standards.
        2) Constant penalties paid by the company for not filing even ROC charges on time.

        Operations related:-
        1) Sales realisations kept abroad.
        2) No forex hedging policy.

        Apart from this many were skeptical of the high growth rate the company has achieved compared to peers along with double ebitda margins compared to industrial standards.

        Inspite of the above I like the company a lot mainly because of the story. Do you think above issues hold any merit? And do you think the company deserves the valuations it currently enjoys?

  30. Kabi says:

    Dear Ace
    Since result of cybertech is tomorrow and bit curious to know your expectation in terms of revenue and eps? I strongly feel that they may come up with revenue 9 to 11 million and eps anywhere between 0.5 to 1.

  31. amit says:

    sir whats ur view for bliss gvs pharma for long term,holding frm 65

  32. niravkaria says:

    Sir your views on MT Educare. If your reply is ‘already replied and search on blog’ i have done the same but no success. Pls reply here its a request. thanks in advance.

  33. vinod says:

    Dear Ace,

    Am planning to buy scripts of two companies; Rajoo engineers and Vidhi Dyes.
    Is it wise to enter now at present prices??. Want to hold atleast for 6 months to 1 year from now.

    Thank you in advance

  34. nick says:

    hi good morning sir what view on arrocoated product share price as per latest result today…

  35. Naresh says:

    Dear Ace

    Whats your view on Pratibha Industries and Triveni Engineering for mid term.

    Thank you in advance

  36. Abey says:

    Advice me on nila infra

  37. Niraj says:

    Hi sir I bought Suzlon at 26. What are your views on Suzlin energy ?? Should I hold it till the budget ??

    • i dont like suzlon as mentioned earlier, so kindly take your own call on it. there’s a small probability that it might rise a bit in anticipation of something that might come in budget, but then again, take your own call on this. i dont like the stock

  38. Niraj says:

    Suzlon Energy *

  39. Niraj says:

    Thanks a lot for your Comments .. But can you please tell me which other company should I invest in if I am interested in renewable energy sector ? NTPC ?

  40. Tanmay Gupta says:

    Your views on Gulshan Polyols


  41. Vivek says:

    You view on Man infra pls? Thanks

  42. Prabhu says:

    Sujata & Pramina Suchanti sold 1000000 @ 35 each . buyer r WARREN TEA 2000000 @ 35 ,, whr warren tea itsef quoting in BSE @153

    • Prabhu says:


      Sujata & Pramina Suchanti sold 1000000 @ 35 each . buyer r WARREN TEA 2000000 @ 35 ,, whr warren tea itsef quoting in BSE @153

  43. MyInsignia says:

    Hi Ace,

    Do you track Gujarat Themis Biosys.

  44. Chandrashekar says:

    Good Morning Ace,
    1)Can share your views on Uflex Limited (P/E 4.62 , CM/BV 0.38) and Polyplex Corporation Ltd (P/E 85.27 CMP/BV 0.29)? I am holding small quantity of both companies. Planning to invest some money on one of them for long term. If you you tracking please provide your views.
    2) says P/E as 85.27 for Polyflex…do you thinks 85.27 is the correct value?
    3)How to calculate P/E?


  45. R K Sinha says:

    Why Garware? why not Neo corp. It is better then Garware.

  46. Rakesh Sankhala says:

    Sir can IFGL refractories be bought at this level’s i.e.145/- Rs.? Although, you had already expressed your View on this one when it was near about 180-190 Range as Decent on Declines. So you suggest to buy @ this rate or wait for further decline.

  47. Vivek says:

    Ace, Do you think AVT Natural is a good buy at CMP? result looks good but due to some reason its not quite reflecting in the price. whats your view? Thanks.

  48. Akshay says:

    cybertech has closed its trading window for 3rd feb to 6 feb(including both days), why is that. is it common practise?

  49. skdc14 says:

    Dear Ace I have some spare money. Want to invest . I already have Prima, Simmonds, Vidhi, Pressman and Garware in my portfolio. Aimco Pesticites, Celestial Biolabs and Take Solutions are in my mind. Which among the three are worth investing for more than one year. Or shall I increase my existing portfolio %. If from my portfolio then shall I add more of Vidhi or Pressman.

    Waiting ….to execute


  50. sangram says:

    Selling by fresh top promoters . but small quantity

  51. Govind Toshniwal says:

    hi ace, pls share ur view on gs auto at cmp.

  52. narayana says:

    sir, your suggestion on seamec please ?

  53. saravanakumar says:

    please share your views on v2retail results

  54. Mayur says:

    Hey Ace, V2 posted very good results..profits and eps all doubled..what your take on the results other than deffered tax amount thing..will the fireworks start again from tomorrow 🙂

  55. Roshan says:

    Ace,,,V2 came up with great results 🙂

  56. Jitendra says:


    For V2 Retail, EPS before extraordinary items is Rs. 2.30 whereas EPS after extraordinary items is Rs.1.96 for Q3, whereas for Q1 & FY14Q3 it is same. Also no extraordinary items shown for all the quarters. Please expain the difference.

  57. indianbull10 says:

    needless to say, super results by V2. Ace, whats even more encouraging is something that is written on the very last page(bottom) of the results- chances of contingent liabilities being remote and and order that went in over of V2, Delhi HC quashing a demand of 11crs!!!!!

  58. Vimal says:

    Hi, ur view on Narmada Gelatines Ltd?

  59. Pradeep Kumar says:

    Dear sir
    I am very much impressed with the company I just wanna know about its competitors.

  60. Ravi says:

    Ace Sir, i want to know about you take on Cupid Rubbers result and the doubt they may have cleared by paying a good dividend. Does it clear the doubt we raised regarding its mode of operation and future?

  61. umesh says:

    Sir to one query you said you track gujrat themis ,can i buy gujrat themis at current levels or wait for correction for fresh buy

  62. sridhar says:

    Sir , Whats ur view on Cybertech results?

  63. Daniel says:

    Your view on Cybertech results?


  64. sangram says:

    Dismal performance by cybertech q3

  65. mesh says:

    another bad results from cybertech
    meaning of performance improved means last qtr was completely bad
    i told u at that time only but as a blog reader we cant say much….
    if that time if u suggest switchover to xyz or book loss then it will be better for all of us
    almost 50% lost ……
    some common thing i found
    cybertech recommendation month highest ever volume
    rajoo sold by smart people
    simmond same thing happen on that day
    wanbury out of the earth
    sir find out such cos where promoters are not looking at offloading…..
    market is at all time high each & every promoters are finding way to sell shares….
    a really caution……
    sorry for my advice as small retail investor having a 20 years of experience…

    • my dear friend. if you are worried about volume, then understand that some of my picks are on back of technicals too and breakout come on volumes. this i have explained multiple times. rajoo was not sold by some people but company insiders and that too not much considering such a huge stake. wanbury for you could be out of earth because of one quarter, but for me as mentioned in the post its a strong long term story and all turnaround companies take time. Also, its easy to count only on stocks which have preformed below par but it would be more appropriate to create the complete context by counting waterbase, sharp, sks, aimco etc also. God Bless

  66. Puru says:

    Sir, its not a fresh start. Though all my trades (around 8-10) started from 2009 have turned into investment!!! So you can call me as ‘Long Term Investor’.
    Anyhow, thank you for your guidance.

  67. sangram says:

    After skm’s foreclosure of loans from SBI. How do you view it. Is it still buy or wait for declines. I had waited for declines on the stock but could never accumalte apart from small quantity

    • the stock has given decent declines so many times…. if you are convinced,one way is to buy in one shot and be ready for a bit of volatility. if your value price is good, then the downside is limited whereas upside is huge and you would not get a left out feeling as well.

  68. niravkaria says:

    results of MT Educare is not taken by market in good sense. Now waiting for prima, freshtrop and vidhi’s results. Though i am not fancy of results but it gives chance to accumulate more and build more conviction n confidence, Sir according to you it is advisable to buy MT educare now.

  69. Prudent Investor says:

    Please share your views on APM Industries

  70. Amit says:

    Can we buy Freshtrop at CMP?

  71. Satheesh says:

    Can you please tell me what to do with wanbury & cybertech. Entire profit stuck in this two script. Should I average now or more downside left???

  72. Niraj says:

    Hi Ace. Gareware is going to declare its results today … What are your expectations from the results ?? … And is it a good time to buy the share now ??

    • as mentioned in the results i expect the results to be good and yes, its a very good time to buy it. Lets see now

      • Niraj says:

        Thanks Ace .. I am trading in the stock market for the first time today .. And my first buy is Garware .. Let’s keep our fingers crossed ..

        • great. this is a good stock with good entry point. remember dont worry about short term volatility. in the long term, you will “always” make money if you know what you are buying and why you are buying because if you know this, you get conviction and you can handle the volatility of the stock prices. God Bless

  73. Raj Gupta says:

    Dear Ace Sir,
    Good morning,
    After result of Cyber,we have to wait for next quarter, sir,can v think now this is a chance of accumulation? My feelings say it will be the performer of next financial year..Ur expert views plz..

    • the standalone results (which is what i really like) are already improved this quarter. the valuations are very cheap and as you rightly pointed out the results are going to only improve from next quarter as the deals won would start getting into execution

  74. Zubin says:

    Request you to post your view on the Cybertech results. That will help us decide whether to hold or book losses.

  75. Hi ACE, invested in garware today. will continue to hold cybertech as business future looks bright. want your opinion on Dhunseri Investment (for long term). your opininon will increase the confidence. regards.

  76. Vivek says:

    Ace, There is bit talk going on about the promoter selling shares in freshtrop. Do you see it as cause of concern? I am quite convinced about the scrip and expecting a good set of numbers. You view pls? Thanks

  77. Rajoo says:

    what happened to vidhi?

  78. Rajoo says:

    what is happening to vidhi dyestuff? it has fallen 7% today.

  79. Mayur says:

    Ace, any idea why Simmonds marshell and Prima going back to old low range from where they had given break out earlier?

    • prima probably getting ready to hear bad numbers but that’s fine. i would take it as an opportunity for adding. simmond is probably waiting for the results and no, i dont think its gone back to its old range. dont see it closing below 69 as of now, but anything is possible, still business wise no issue….so not really worried

  80. Suneetha says:

    Liberty shoes and Super house Ltd both are good ! plz let me know which one is better when compared !

  81. Roshan says:

    Ace can i buy SKM egg at CMP?

  82. jayprakash says:

    are you expecting bad numbers from prima?

  83. Vishal says:

    Hi Ace, Which one would you prefer at current valuation? Vidhi or Dynemic? Dynemic has come down to 57 levels from 100 without any known reason. Vidhi is still quite near the all time high. your kind opinion pls. God bless.

  84. jayprakash says:

    did you analysed results of garware?

  85. sangram says:

    Garware good results on yoy. Fall should be used for accumulation

  86. msupekar2 says:

    Ace, the stock is correcting stongly. Can you throw some light on the results announced.

  87. msupekar2 says:

    Talking about garware wall ropes

  88. James says:

    I held this share from 150, Perfect time to sell a day after you recommend it. Ace people understand the game now.

    • that’s very good that you sold the share and made money, i am happy for you. yes, lets see in a couple of years who would be more happy, people who sold or people who used their conviction to buy into it …. God Bless you my friend and give you strength to have faith in humanity.

    • also my friend, there’s no game going on here. the readers of this blog will make a lot of money in the long run. just wait for a few yrs to see the result and pass the judgement. I wish i had started blogging earlier. also, you and your other friends who have already passed a judgement on me really hate me but still keep sending me pretty interesting messages (and fortunately, my platform is now filtering such messages so that i dont see it, but i do manually pick up a message at random) and also post messages, really fascinated too see such compulsive behavior on your part. when you dont like me why do you come to the blog 🙂 ….

      • James says:

        Dont get me wrong, it either your selling in big quantities after your recommendations or an operator is playing you out sadly. Who is doing it? we will never know. One pattern ive noticed big quantities get purchased 3-4 weeks before your recommendations. if one is holding the stock and you recommend it then i prefer to book profits. Ill re enter at lower prices. No offence against you. Thats the way its being played out.

        Ive been observing your picks right from orient beverages which has been superb impressive run but recently your stocks picks apart from garware has been utter disappointment.

        Best regards and Peace from the south east,

        James Mac

        • everyone has their own views and i know i will not satisfy everyone, neither do i want to. something which is bad is your eyes could be good in someone’s else and vice-versa. Thats markets for your. Waterbase, orient, vidhi, sharp were all dismissed by people and now half of the world tracks it. Anyways, everyone’s entitled for their own opinion and so are you my friend. God Bless

          • Karuppiah says:

            Sir, I am new to your blog. It makes more sense now to read the comment and your response after 2 years. You were perfectly right!! Does the fundamental and future prospects of Garware and V2 Retail still good? Can one buy these on dips?

            • if in two years one could not make up their conviction on these stocks, then how would today be any different. Anyways, as usual, buying/selling/holding is your own decision.

              • Karuppiah says:

                Sir, As I said I didn’t wait for two years. I am new here and just reading the article. Wanted to know whether you recommended this for medium or long term. Also to know whether still the fundamentals are same as when you recommended. Thanks for the response!

              • ok. kindly read the story and relevant discussions and also go through the investor presentation to get the answer to your question.

  89. Niraj says:

    Hi Ace

    After the Result Garware fell 10 Percent. What do you make of the Results. And do you think we should book your losses and Exit if bought at 222.

  90. niravkaria says:

    i took the opportunity to add more prima in my kitty at 53-54 levels. Just to ask that after your comment “prima probably getting ready to hear bad numbers but that’s fine. i would take it as an opportunity for adding………..”. Sir I am convinced and happy. Just to ask that what do you think the consolidated results should be and how the fall in crude price will benefit the bottom line. I have gone through the blog and comments but did not see any convincing reply by you. Sir its a request by your fan please explain in detail and reply that what do you think the consolidated results should be. Sorry i am asking too much but please its a request. thanks in advance.

    • you know right, the consolidated numbers are announced just annually…so that means next quarter…

      • niravkaria says:

        are sir i just want to know how fall in crude price will have impact on consolidated numbers. theoretically explain please.

        • ofcourse it will help but the improvement because of crude price drop will not be reflected in this FY as its FY ended in Dec. still the numbers would be very good as that subsidiary is working on more than 25% margins and therefore, combined with fall in crude prices for FY15 and FY16 consoliated numberss would improve quite a bit. anyways lets first concentrate on this year only. since they have declared their maiden dividend of 1.6cr rs, it looks the results of the subsidiary would be very good.

  91. abhishek says:

    Hi ace, I am great follower of you though not a blind follower. No doubt your each recom. are very well researched, appealing and logical , but I am sensing for past some time, each of your recommendation is published when the stock is already moved up to 100- 200% , where are the days when you recommended Sharp at 27 , Cupid Waterbase Kopran at 30 and Freshtrop at 50. I know you will say the market has moved up but all these recommendation you are making now why not before, I know in all probablity you will not publish my this message, I dont evern want to making it public, just want to let YOU know that this affects the trust you have build with such a long good work !!! There is feeling that each proposed stock is first jacked up to higher price and then recommendation is published … we have seen this in Wanbury, Cybertech, Simonds, Garware and so on .. !! Not pointing at you, but somehow someone insider is misusing your good work and creating bad name !!! I will be happy if you reply to me personally over email, if not here, to clear my doubts.

    • thanks abhishek for the feedback. Such positive criticism is always welcome and at times motivating. Actually,as mentioned earlier, i like growth stocks more than value stocks therefore, volumes would almost always be there. Just for everyone’s information, sharp when recommended at 27 had gone up from 18-27 in a very short time, cupid at 22 had also gone up from 15-22 in a very short time, waterbase at 18.5 had actually shot up from 5-6 to those levels, but unfortunately no-body is bothered to check that as they are all up 3-5 times. This is what price action can do to you. Anyways, your honest feedback and general sentiment check is very welcome. I will surely work on addressing this. Also, please remember money making takes time and last year even suzlons of the world went up from 6-30 in double quick time but i will try to focus on quality here and also, remember money multiplication takes time. have faith and patience my friend and keep pouring in your suggestions and criticism, its motivating. God Bless

      • abhishek says:

        Thanks Ace for publishing this, You proved that you have a big heart … I do have strong conviction that you have mostly genuine intentions and are not front running your recommendations to misuse the trust of people for your own benefits…Keep the good work going…so many good wishes of small investors are with you…!! a

  92. Kabi says:

    Dear Ace
    Leave the negative comments aside and if you 100% honestly also people make comments. Why we need to worry about them. I still hope lot and lots of investors made huge money from this blog.
    Ok, Here comes my question
    Could you enlighten of todays fall in madcap and small cap though these guys didn’t participate when nifty rallying in a week ago? particularly the bad result of tata motors dragged the whole auto sector down nearly 3%. (even good scrip with solid fundamental fell down anywhere between 2 to 8%).

  93. RightStock says:

    Hi Ace, Do you see any problem with the Ybrant management? Any valid reason for the wild swing in price movements even when the company is reporting good numbers?

  94. abhishek says:

    Dear Ace, what is your view on Intrasoft technology, the valuations are going crazy in the unlisted space in its industry of e-retail and e-commerce. I am hoping investors will recognize the potential of this company sooner or later.

    • i know the company personally since its start-up days and i believe the company has promise and as a disclosure i have vested interest in it, but at these valuations, and run-up please take your own call.

  95. indianbull10 says:

    Ace, V2 standing tall amidst falling markets. feeling at peace!

  96. sangram says:

    Do you have any idea of garware environment ltd. Does? Just curious to know about the business? They disclosed in q3 results that garware environment ltd. (Subsidy) company is yet to commence its commercial operation

  97. Prem says:

    hiiii Ace sir, what a superb opportunity this market showing for accumulation……i am happy from today’s jalwa of market…its an lovely opportunity for accumulation even most of the long term and most new investors are waiting for this dip. Guys use this opportunity accumulate as much as u can and invest in convinced company only. 🙂 god bless

  98. mesh says:

    hi sir
    good one to see my comment deleted
    because i am right
    now just last time & one last comment exit garware wall on monday those who has purchased above 220 ….
    monday will be good day for garware wall only at opening ……..
    good bye
    re-enter at 150 else jai hind

    • which comment are you talking about. pls post again. I do not agree with your view that garware should be exited. You language suggests that you want a better price entry therefore, trying to create confusion here but IMHO its already on very attractive levels. You are a regular reader and therefore, i expect a bit of honesty and sanity while you post and would expect you to back your comments with conviction rather than chaos. God Bless

  99. Puru says:

    I tried to search for your details on Warbury, but did not find it through SEARCH option. Can you please assist?

  100. Puru says:

    I dont know but I tried Google yesterday too, it didn’t work. Today i got it. Thanks a ton!!!

  101. Niraj says:

    Hi Ace,

    As already mentioned in the above comments i have bought Garware at 222. What returns do you think this Script would give in 6 Months ?

    Is 10 – 20 Percent Return possible at the price which i have bought in 6 months ?

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