Garware Hi-Tech Films sets up Dubai subsidiary

Garware Hi-Tech Films has incorporated a wholly-owned subsidiary in Dubai, UAE, named Garware Hi Tech Global Trading FZCO. The company received the Certificate of Formation and Trading license via email on May 21, 2026. The subsidiary has been established under the Dubai Airport Free Zone Authority.

Subsidiary Details

The new entity, abbreviated as GHGT, was incorporated on April 27, 2026. It operates within the films, ceramic coatings, and Paint Protection Film (PPF) industries. The primary business objective of GHGT is to engage in the buying and selling of these products to the MENA region and for exporting to other parts of the world.

Capital Structure and Investment

The incorporation involved a 100% subscription to the initial paid-up share capital through cash consideration. Garware Hi-Tech Films holds complete control over the subsidiary. The financial details regarding the subscription are outlined below.

Particulars	Details
Name of Subsidiary	Garware Hi Tech Global Trading FZCO
Country of Incorporation	Dubai, UAE
Date of Incorporation	April 27, 2026
Paid-up Share Capital	AED 2,000,000
Number of Shares	400,000
Face Value per Share	AED 5
Shareholding Percentage	100%

Strategic Purpose

The establishment of this wholly-owned subsidiary aligns with the company's strategy to expand its global footprint. By setting up a base in Dubai, Garware Hi-Tech Films aims to streamline its trading and export operations for films, ceramic coatings, and PPF across the MENA region and international markets.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-3.10%	-1.68%	+36.32%	+32.01%	+23.16%	+530.74%

Garware Hi-Tech Films Limited has informed the stock exchanges that its Chief Financial Officer (CFO), Mr. Abhishek Agarwal, has tendered his resignation effective May 15, 2026. The disclosure was made pursuant to Regulation 30 read with Part A of Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Mr. Agarwal cited the pursuit of career opportunities outside the Company as the sole reason for his departure, confirming in his resignation letter that there is no other material reason for his exit.

Key Details of the Resignation

The following table summarises the key particulars of the resignation as disclosed by the Company:

Parameter:	Details
Name:	Mr. Abhishek Agarwal
Designation:	Chief Financial Officer (KMP)
Reason for Cessation:	Resignation to pursue career opportunities outside the Company
Date of Resignation:	May 15, 2026
Other Material Reason:	None confirmed by the resigning officer

Regulatory and Governance Implications

As a consequence of the resignation, Mr. Abhishek Agarwal will cease to be a Key Managerial Personnel (KMP) of Garware Hi-Tech Films under Section 203 and other applicable provisions of the Companies Act, 2013. He will also cease to be a member of the Company's Risk Management Committee. The resignation letter was addressed to Ms. Monika Garware, Vice-Chairperson & Joint Managing Director of the Company. The Company Secretary, Mr. Awaneesh Srivastava (FCS 8513), signed and submitted the regulatory filing on May 15, 2026.

Next Steps for the Company

Garware Hi-Tech Films has confirmed that it will make the necessary intimation to the stock exchanges upon the appointment of a new Chief Financial Officer, in accordance with applicable regulatory requirements. The Company has not disclosed a timeline or any candidate details for the CFO succession at this stage.

Summary

The resignation of Mr. Abhishek Agarwal as CFO marks a key managerial change at Garware Hi-Tech Films. His departure, effective May 15, 2026, was driven solely by the desire to explore external career opportunities, as confirmed in his resignation letter addressed to Ms. Monika Garware, Vice-Chairperson & Joint Managing Director. The Company remains compliant with its disclosure obligations under SEBI Listing Regulations and has committed to updating the exchanges on the CFO appointment process.