Garware Synthetics Limited held its 57th Annual General Meeting on September 30, 2026, through video conferencing. The meeting focused on adopting financial statements for FY26 and approving key board appointments.

Nihal Chandrakant Garware, Chairman and Non-Executive Director, chaired the session. He briefed members on virtual attendance protocols and e-voting procedures. The requisite quorum was present, allowing the meeting to proceed formally.

Ordinary business resolutions

The shareholders considered two primary ordinary business items. First, they reviewed and adopted the audited balance sheet as at March 31, 2026, along with the statement of profit and loss. This included the reports of the Board of Directors and the auditors.

Second, the meeting addressed the retirement by rotation of Deepak Pandurang Kamble. Being eligible, he offered himself for re-appointment as a Director. The resolution sought member approval for his continued tenure on the board.

Special business and remuneration

A special resolution was tabled to approve remuneration payable to Nihal Garware, Non-Executive Director and Chairman. This item required specific shareholder consent under applicable corporate governance norms.

Voting process details

The company provided remote e-voting facilities to ensure broad participation. The voting window opened at 9:00 am on September 27, 2026, and closed at 5:00 pm on September 29, 2026. Additionally, e-voting was available during the live meeting for 15 minutes for those who had not voted remotely.

Suhas Ganpule, Proprietor of SG & Associates, served as the scrutinizer. He was tasked with verifying the voting process and submitting a consolidated report within two working days of the meeting's conclusion.

What the numbers show

The proceedings highlight a standard governance cycle with no extraordinary financial disclosures or strategic pivots announced during the AGM. The focus remained strictly on compliance-related approvals, including the adoption of FY26 financials and routine directorial changes. The use of video conferencing underscores the continued adherence to digital-first governance practices mandated by regulatory frameworks.

Garware Synthetics reported a net profit of ₹36.22 lakh for FY26, a significant improvement from the ₹1.30 lakh profit recorded in FY25. The company has scheduled its 57th Annual General Meeting for September 30, 2026, to adopt these audited financial results and address a special resolution regarding executive compensation.

The meeting will be conducted via video conferencing or other audio-visual means in compliance with Ministry of Corporate Affairs circulars. Shareholders can participate remotely through the CDSL e-voting platform.

Financial Performance

Revenue from operations stood at ₹1,033.92 lakh in FY26, down slightly from ₹1,072.99 lakh in the previous year. However, operational efficiency improvements contributed to a marked rise in profitability. Profit before tax increased to ₹41.62 lakh from ₹6.76 lakh in FY25. The Board did not recommend any dividend for the year, aiming to strengthen the financial position for future growth.

Agenda Highlights

The ordinary business includes considering and adopting the Audited Balance Sheet as at March 31, 2026, and the Statement of Profit and Loss for the year ended on that date. Additionally, members will appoint Deepak Pandurang Kamble as a director in place of his retirement by rotation.

Remuneration Revision

The special business item seeks member approval to increase the monthly remuneration of Mr. Nihal Garware, Non-Executive Director and Chairman. The proposed revision raises his salary from ₹1,00,000 to ₹2,50,000 per month.

The Board approved this proposal on August 26, 2026, based on recommendations from the Nomination and Remuneration Committee and Audit Committee. The decision aims to align compensation with industry benchmarks and the Chairman's level of involvement.

Mr. Garware’s tenure runs from July 1, 2025, to June 30, 2030. He will also receive a Chairman’s office and reimbursement for expenses such as car, mobile, and telephone usage as per company policy.

Voting Details

Remote e-voting will be available from September 27, 2026, at 9:00 am until September 29, 2026. The record date for determining eligibility is September 23, 2026. Individual shareholders holding shares in demat mode can vote through their depository accounts with CDSL or NSDL.

Physical shareholders and non-individual entities must use the CDSL e-voting system at www.evotingindia.com . The facility allows up to 1,000 members to join the virtual meeting on a first-come, first-served basis, excluding large shareholders holding 2% or more.