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GARWARE SYNTHETICS LTD. (GARWSYN) fair value: what the stock is really worth

As of Oct 1, 2026: fair value of GARWARE SYNTHETICS LTD. ₹10.01, price ₹19.02, upside -47.4%, quality 43 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? No
  2. Good quality? No
  3. Add to watchlist

Consumer Cyclical · IN · ISIN INE340D01016

GS Thin data Sep 27, 2026

GARWARE SYNTHETICS LTD.

GARWSYN · BSE

Weakest SetupStrongly overvalued and low quality.

Quality 43/100
Thin margins · 1.9% net margin (TTM)
Negative equity (buybacks among others)
Fair value ₹10.01 · Strongly overvalued (−47.4%)
Weak Growth (revenue 5y +4.6 %/yr in INR)
Negative free cash flow
Trails peers (1/9)
Narrow moat 16/100
Thin data
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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

₹39.25 ₹4.44 Fair Value ₹10.01 Mar 2021 Oct 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 27, 2026.

How to read this chart

60‑month range ₹4.44 – ₹39.25 · fair‑value band ₹7.25 – ₹13.25 · the ₹19.02 price screens above the ₹10.01 fair value. Dashed = 300-day average. As of Sep 27, 2026.

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Company profile

Garware Synthetics Limited engages in the manufacture and sale of nylon monofilaments, bristles, and fishing line and PP bristles in India. It provides nylon bristles for use in tooth, shaving, and industrial and household brushes; polypropylene bristles; and nylon fishing line products.

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

Stock analysis

GARWARE SYNTHETICS LTD. (GARWSYN) currently trades at ₹19.02, while our model-based Fair Value estimate is ₹10.01, 47.4% below the price, so the stock looks overvalued today.

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Valuation

Bull case: the Multiples group reads highest at a median of ₹13.72 per share, and 1 of the 10 models we run sit above the ₹19.02 price.

Bear case: the Earnings-Based group reads lowest at ₹5.18, and 9 of the 10 models stay below the price. Evidence for this calculation is low.

Scenario range: ₹7.25 (bear) to ₹13.25 (bull), the price of ₹19.02 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.

Quality & growth

The Quality Score stands at 43/100 (below-average quality), in the Consumer Cyclical sector.

Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.

GARWARE SYNTHETICS LTD. reported revenue of ₹103M in FY2026 versus ₹127M in FY2022, a compound −5.0%/yr. Reported net income was ₹3.6M in FY2026, compounding +12.0%/yr from FY2022.

Key figures

Market cap ₹110M (≈ $1.1M) · P/E ratio 63.4 · P/S ratio 2.22 · EPS (TTM) ₹0.3000 · Net margin 3.5% · Return on assets (EBIT) 1.2% · Operating margin −8.1% · Revenue (TTM) ₹94.2M.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 28 out of 100 (low confidence).

What moves the price

The share trades about 37% below its 52-week high and 61% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Consumer Cyclical peers we cover trades at −11% fair-value upside, at −47%, GARWSYN screens richer than that median.

Fair Value models

Bear ₹7.25 Fair Value ₹10.01 Bull ₹13.25
Price ₹19.02 · Upside -47.4%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2026 figures (about 6 months old). Earnings retained since then (₹0.1537 per share) are deliberately not added. Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds. Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Highest evidence
Owner Earnings ₹5.75 ₹7.93 ₹11.85 74
EPV ₹6.38 ₹7.42 ₹8.32 74
ROIC Compounder ₹6.38 ₹7.42 ₹8.32 70
All 10 models by family
DCF Models
Owner Earnings ₹5.75 ₹7.93 ₹11.85 74
Earnings-Based
Graham-Dodd ₹4.24 ₹5.18 ₹5.83 65
EPV ₹6.38 ₹7.42 ₹8.32 74
Multiples
P/E Multiple ₹10.29 ₹13.72 ₹17.15 63
P/S Multiple ₹7.95 ₹10.60 ₹13.25 58
EV/EBIT ₹11.29 ₹15.13 ₹18.96 66
EV/EBITDA ₹14.26 ₹19.08 ₹23.91 67
EV/Revenue ₹7.54 ₹10.87 ₹14.19 53
Economic Profit
ROIC Compounder ₹6.38 ₹7.42 ₹8.32 70
Growth Earnings
Growth-Adj P/E ₹7.25 ₹10.36 ₹13.47 65

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Quality Score breakdown

Overall quality 43/100

Of which business quality 41 · Market factors (momentum, volatility) 29

Profitability 45
Margins and returns on capital today
Quality Growth 51
Are margins and returns improving?
Cashflow 6
Earnings quality: real cash, not paper profit
Fin. Strength 9
Balance sheet, leverage, solvency risk
Investment 92
Disciplined investing over empire-building
Low Volatility 26
Calm price path (market factor)
Momentum 35
Price trend over the last 3–12 months (market factor)
52W Momentum 21
Distance to the 52-week high (market factor)
Net Issuance 82
Share count: buybacks or dilution?

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Revenue & earnings trend

Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card. 30/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
−3.6%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−3.2%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+4.6%
Start year 2021 (pandemic)
Revenue growth 7 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−0.4%
What shareholders gained per year (last 5 years), in INR ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Measured in INR: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
+9.5%
Earnings growth per share plus dividend.
Earnings per share, growth per year+9.5%
Dividend (yield on the price)0.0%
Profit margin 2021 to 2026 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.13% → 5%

GARWSYN screens overvalued: fair value 47% below the price. Compare with Tongkun Group →

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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Textile Manufacturing · 333 stocks

Beats the industry median on 1/9 measures
Overall it trails its industry peers.
Valuation
Quality Score 43 · Below median
Fair Value upside −47.4% · Below median
Profitability
Return on equity (TTM) Negative equity ⓘThe company's equity is below zero, for example after large share buybacks. A ratio to negative equity has no meaning, so we show no number here and do not rank it against the peer group.
Return on assets 2.2% · Above median
Net margin (TTM) 1.9% · Below median
Operating margin (TTM) −8.1% · Bottom 25%
Growth and dividend
Revenue growth −35.4% · Bottom 25%
Balance sheet
Debt / equity Negative equity ⓘThe company's equity is below zero, for example after large share buybacks. A ratio to negative equity has no meaning, so we show no number here and do not rank it against the peer group.

Valuation Multiplesvs Textile Manufacturing median · lower = cheaper

P/E (TTM) 63.4× · Priciest 25%
P/B Negative equity ⓘThe company's equity is below zero, for example after large share buybacks. A ratio to negative equity has no meaning, so we show no number here and do not rank it against the peer group.
P/S (TTM) 1.17× · Pricier than median
EV/EBITDA 15.0× · Pricier than median

Context: sector, industry, market

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Textile Manufacturing stocks, each showing price versus our Fair Value estimate.

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Tongkun Group 601233 ¥23.26 ¥14.53 −38%
Shenzhou International Group 2313 HK$34.08 HK$71.99 +111%
Inner Mongolia ERDOS Resources Co 600295 ¥12.80 ¥14.35 +12%
Far Eastern New Century Corporation 1402 28.15 TWD 24.92 TWD −11%
K.P.R. Mill Limited KPRMILL ₹1,106 ₹901.34 −19%
Zhejiang Orient Holdings 600120 ¥4.65 ¥2.40 −48%
Welspun Living Limited WELSPUNLIV ₹239.17 ₹47.77 −80%
Sasa Polyester Sanayi A.S. SASA 1.93 TRY 1.96 TRY +2%
Ruentex Industries Ltd 2915 58.30 TWD 106.63 TWD +83%
Albany International Corp AIN $59.61 $25.00 −58%

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₹10.01 −47%Fair Value
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Cite: Fair Value Calculator (2026). "GARWARE SYNTHETICS LTD. Fair Value". https://www.fairvalue-calculator.com/stock/GARWSYN

Frequently asked questions

Is GARWARE SYNTHETICS LTD. (GARWSYN) overvalued or undervalued?
As of Sep 27, 2026, our model estimates a fair value of ₹10.01 versus a price of ₹19.02, about −47% upside (overvalued).
What is the fair value of GARWSYN?
Our model-based fair value for GARWARE SYNTHETICS LTD. is ₹10.01 (as of Sep 27, 2026), built from audited fundamentals. The current price: ₹19.02.
What is the quality score of GARWSYN?
GARWARE SYNTHETICS LTD. has a Quality Score of 43/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for GARWARE SYNTHETICS LTD. (GARWSYN)?
Our model-based price target is the fair value of ₹10.01 (as of Sep 27, 2026) from 10 valuation models. Cautious scenario ₹7.25, optimistic scenario ₹13.25. It is a calculation from audited fundamentals, not an analyst target.
What is the GARWARE SYNTHETICS LTD. stock forecast for 2026?
Our models put fair value at ₹10.01, about −47% upside versus a price of ₹19.02 (overvalued). Cautious scenario ₹7.25, optimistic scenario ₹13.25. The calculation is refreshed regularly with new filings.
What is the revenue of GARWARE SYNTHETICS LTD. (GARWSYN)?
GARWARE SYNTHETICS LTD. reported trailing-twelve-month revenue of about ₹94.2M (latest available figure, as of Sep 27, 2026).
What is the intrinsic value of GARWARE SYNTHETICS LTD. (GARWSYN)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For GARWARE SYNTHETICS LTD. it is ₹10.01 per share (as of Sep 27, 2026), against a price of ₹19.02. It is the blended result of 10 valuation models (cash flow, earnings, asset, dividend).
Is GARWARE SYNTHETICS LTD. stock overvalued or undervalued in 2026?
As of Sep 27, 2026, GARWSYN trades above its calculated fair value: price ₹19.02, fair value ₹10.01, a gap of about −47% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of GARWSYN?
No. The price is what the market pays today (₹19.02); the fair value is what the company's own numbers justify (₹10.01). For GARWARE SYNTHETICS LTD. the two are ₹9.01 per share apart. That gap is exactly why we show both numbers side by side.
How much is GARWARE SYNTHETICS LTD. worth?
The market values GARWARE SYNTHETICS LTD. at about ₹110M (market capitalisation, as of Sep 27, 2026). Per share that is ₹19.02; our models calculate a fair value of ₹10.01 per share.
What do the bullish and bearish scenarios say about GARWSYN?
Our models span a range for GARWARE SYNTHETICS LTD.: cautious scenario ₹7.25, base ₹10.01, optimistic ₹13.25 per share (as of Sep 27, 2026, price ₹19.02). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of GARWSYN?
GARWARE SYNTHETICS LTD. trades at a price-to-earnings ratio of 63.4 (as of Sep 27, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of ₹10.01 is built from several models across several years. Other multiples: P/S 1.2, EV/EBITDA 15.0.
How solid is the balance sheet of GARWARE SYNTHETICS LTD. (GARWSYN)?
Balance-sheet figures for GARWARE SYNTHETICS LTD. (as of Sep 27, 2026): negative equity, so no return on equity and no debt-to-equity ratio. They feed the Quality Score of 43/100, which measures business quality independently of the share price.
How far is GARWSYN from its 52-week high?
GARWARE SYNTHETICS LTD. trades at ₹19.02, about 37% below its 52-week high of ₹30.42 and 61% above the low of ₹11.81 (as of Oct 1, 2026). Distance from the high says nothing about value: that is what the fair value of ₹10.01 is for.
Which stocks are comparable to GARWARE SYNTHETICS LTD.?
From the same area (Consumer Cyclical) we also value Tongkun Group, Shenzhou International Group, Inner Mongolia ERDOS Resources Co, Far Eastern New Century Corporation, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is GARWARE SYNTHETICS LTD. stock attractive at the current price?
The data as of Sep 27, 2026: price ₹19.02, calculated fair value ₹10.01 (−47%), Quality Score 43/100, from 10 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of GARWSYN calculated?
We run GARWARE SYNTHETICS LTD. through 10 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of ₹10.01, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.9 % above its aggregate fair value. GARWARE SYNTHETICS LTD. itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of GARWARE SYNTHETICS LTD. (GARWSYN)?
The closing price on Oct 1, 2026 was ₹19.02. Our model-based fair value is ₹10.01, about −47% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with GARWARE SYNTHETICS LTD. right now?
The price sits above even our optimistic bull case (₹13.25). The favourable scenario is already priced in. Weak quality (43/100) and above fair value at the same time, the margin of safety is missing on both counts. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. A fairly wide model range (₹7.25 to ₹13.25) leaves room in how you read the outcome.

Key figures of GARWARE SYNTHETICS LTD.

How large is the market capitalisation of GARWARE SYNTHETICS LTD. (GARWSYN)?
The market capitalisation of GARWARE SYNTHETICS LTD. is ₹110M (≈ $1.1M). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of GARWARE SYNTHETICS LTD. (GARWSYN)?
The price-to-sales ratio of GARWARE SYNTHETICS LTD. is 2.22 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of GARWARE SYNTHETICS LTD. (GARWSYN)?
Earnings per share at GARWARE SYNTHETICS LTD. are ₹0.3000 (price ÷ EPS = P/E 63.4). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of GARWARE SYNTHETICS LTD. (GARWSYN)?
The net margin of GARWARE SYNTHETICS LTD. is 3.5% (fiscal year 2026). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the EBIT return on assets of GARWARE SYNTHETICS LTD. (GARWSYN)?
On an EBIT basis the return on assets of GARWARE SYNTHETICS LTD. is 1.2% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of GARWARE SYNTHETICS LTD. (GARWSYN)?
The operating margin of GARWARE SYNTHETICS LTD. is −8.1% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at GARWARE SYNTHETICS LTD. (GARWSYN)?
Revenue at GARWARE SYNTHETICS LTD. is growing −35.4% versus a year earlier (3y avg −3.2%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at GARWARE SYNTHETICS LTD. (GARWSYN)?
Earnings per share at GARWARE SYNTHETICS LTD. are growing +320% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does GARWARE SYNTHETICS LTD. (GARWSYN) generate?
The free cash flow of GARWARE SYNTHETICS LTD. is −₹6.3M (fiscal year 2026). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does GARWARE SYNTHETICS LTD. (GARWSYN) carry?
The net debt of GARWARE SYNTHETICS LTD. is ₹53.9M (fiscal year 2026). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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