Garware Synthetics has approved the notice for its 57th Annual General Meeting (AGM), scheduled to be held on September 30, 2026. The company’s Board of Directors convened on August 24, 2026, to finalize the agenda and logistical details for the shareholder meeting.

The AGM will be conducted via Video Conference or Other Audio-Visual Means (OAVM). Shareholders will be eligible to participate if they are on the register as of the cut-off date of September 23, 2026. The register of members and share transfer books will remain closed from September 24, 2026, to September 30, 2026, inclusive.

E-Voting and Scrutinizer Appointment

The board approved an e-voting facility for shareholders, which will be active from September 27, 2026, at 9:00 am to September 29, 2026, at 5:00 pm. This window allows shareholders to cast their votes remotely prior to the virtual meeting.

Mr. Suhas Ganpule, proprietor of M/s. SG & Associates, was appointed as the scrutinizer for the 57th AGM. The firm is a peer-reviewed corporate law advisory practice based in Mumbai.

Other Board Approvals

In addition to the AGM logistics, the board considered and approved the following items:

• Remuneration payable to Mr. Nihal Garware, Non-Executive Director and Chairman, subject to member approval.
• The Directors’ Report for the financial year ended March 31, 2026.

Garware Synthetics reported a net loss of ₹6.55 lakh for the quarter ended June 30, 2026, narrowing significantly from the ₹9.41 lakh loss posted in the previous quarter. The company’s revenue from operations fell 35% year-on-year to ₹168.15 lakh, reflecting continued pressure on its core business of manufacturing nylon bristles, rods, and tubes. Despite the revenue decline, the reduction in losses suggests improved cost management or favorable inventory adjustments during the period.

The Board of Directors approved the unaudited financial results at a meeting held on August 6, 2026, at the company’s registered office in Thane. Alongside the financials, the Board appointed A G Mehta (Membership No. F1572) as Company Secretary and Compliance Officer, effective immediately. Mehta brings over three decades of experience in investment banking, corporate finance, and legal matters across India, Europe, and Asia.

Financial Performance

Revenue from operations dropped to ₹168.15 lakh in Q4FY26, compared to ₹240.87 lakh in the prior quarter and ₹260.30 lakh in the same quarter last year. Total expenses stood at ₹175.00 lakh, slightly higher than the total revenue of ₹168.45 lakh, resulting in the pre-tax loss.

Basic earnings per share were negative ₹0.11, an improvement from negative ₹0.17 in the previous quarter. The company’s paid-up equity share capital remained unchanged at ₹580.89 lakh.

Operational Highlights

The business operates within a single primary segment: Nylon Bristles, Rods & Tubes. A key factor in the reduced loss was a positive change in inventories of finished goods, work-in-progress, and stock-in-trade, which contributed ₹46.99 lakh to the bottom line, compared to a deduction of ₹6.98 lakh in the same quarter last year. Employee benefit expenses decreased to ₹54.12 lakh from ₹69.46 lakh in the prior quarter, aiding cost containment.

What the Numbers Show

While revenue declined sharply, the narrowing loss indicates that operating leverage is beginning to work in the company’s favor. The significant swing in inventory valuation—turning from a negative contributor in Q4FY25 to a positive one in Q4FY26—played a crucial role in mitigating the impact of lower sales. However, with revenue still well below levels seen a year ago, the sustainability of this improved profitability remains dependent on demand recovery in the nylon products segment.

The financial results were reviewed by the Audit Committee and subjected to a limited review by the statutory auditors, Jayesh Dadia & Associates LLP. The audit report confirmed that the statements comply with Indian Accounting Standards (Ind AS) and SEBI Listing Regulations.