Garware Technical Fibres has notified the stock exchanges of an upcoming Board of Directors meeting, pursuant to Regulation 29(1)(a) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The meeting is scheduled for Wednesday, May 20, 2026, and was communicated to the exchanges via a formal intimation dated May 13, 2026.

Board Meeting Agenda

The board meeting has been convened to address key financial and corporate matters for the concluded fiscal year. The following items are on the agenda:

• Consideration, approval, and taking on record of the Standalone and Consolidated Audited Financial Results for the quarter and year ended March 31, 2026
• Consideration and recommendation of a final dividend, if any, for the Financial Year 2025-26

Key Meeting Details

The table below summarises the key details of the scheduled board meeting:

About the Company

Garware Technical Fibres, formerly known as Garware – Wall Ropes Ltd., is registered at Plot No. 11, Block D-1, M.I.D.C., Chinchwad, Pune 411 019, India. The intimation was signed by Sunil Agarwal, Company Secretary (M. No. FCS6407), on behalf of the company.

The board meeting represents a significant corporate event as it will mark the formal adoption of the company's audited financial performance for the full fiscal year ended March 31, 2026, along with a decision on shareholder returns through dividend distribution.

Garware Technical Fibres has published a public announcement dated May 11, 2026 for the buyback of up to 16,17,500 (Sixteen Lakh Seventeen Thousand Five Hundred) fully paid-up equity shares at a price of INR 680 per share, payable in cash, for an aggregate amount not exceeding INR 110 crores. The announcement was published on May 12, 2026 in Daily Business Standard (English and Hindi, all editions) and Dainik Prabhat (Marathi, Pune edition), pursuant to Regulation 7 of the SEBI (Buy-Back of Securities) Regulations, 2018. The buyback will be conducted on a proportionate basis through the tender offer route using the stock exchange mechanism, with BSE Limited as the designated stock exchange. The submission was signed by Company Secretary Sunil Agarwal on May 12, 2026.

Buyback Details

The board of directors approved the buyback at its meeting held on Friday, May 08, 2026. The buyback represents 1.63% of the total paid-up equity share capital of the company. The aggregate buyback size of INR 110 crores represents 9.46% and 9.35% of the aggregate of the company's fully paid-up equity share capital and free reserves as per the latest audited standalone and consolidated financial statements for the year ended March 31, 2025, respectively — within the prescribed statutory limit of 10% under the Board approval route. Since the buyback is less than 10% of paid-up equity share capital and free reserves, shareholder approval is not required.

The buyback price is exclusive of transaction costs including brokerage, securities transaction tax, goods and services tax, stamp duty, filing fees payable to SEBI, advisors and legal fees, intermediary fees, public announcement costs, and other incidental expenses. In terms of Regulation 5(via) of the SEBI Buyback Regulations, the Board may, until one working day prior to the Record Date, increase the buyback price and decrease the number of equity shares proposed to be bought back, provided there is no change in the buyback size.

Buyback Price and Premiums

The buyback price of INR 680 per equity share was arrived at after considering factors including trends in volume weighted average prices on the stock exchanges, the net worth of the company, impact on other financial parameters, and the possible impact on earnings per share. The buyback price represents the following premiums over market prices:

Necessity for the Buyback

The buyback is being undertaken after taking into account the strategic and operational cash requirements of the company in the medium term and for returning surplus funds to shareholders in an effective and efficient manner. The Board considered the accumulated free reserves as well as cash liquidity reflected in the latest available audited financial statements as on March 31, 2025. The buyback is intended to return surplus cash to shareholders broadly in proportion to their shareholding, improve the company's return on equity, and provide eligible shareholders with the option to either participate and receive cash or retain their shares and benefit from a resultant increase in their percentage shareholding. A reservation of up to 15% of the buyback size has been made for Small Shareholders — defined as shareholders holding equity shares with a market value of not more than INR 2,00,000 on the basis of closing price on the record date.

Sources of Funds

The buyback will be funded from the company's free reserves (including securities premium account) or such other sources as may be permitted under the SEBI Buyback Regulations or the Companies Act. Borrowed funds from banks or financial institutions will not be used for the buyback. An escrow account will be opened with HDFC Bank Ltd. in accordance with Regulation 9(xi) of the SEBI Buyback Regulations. The company confirms there are no defaults subsisting in repayment of deposits, debentures, preference shares, term loans, or dividends.

Statutory Auditor's Report

Mehta Chokshi and Shah LLP, the statutory auditor of the company, issued a report confirming that the buyback capital payment of Rs. 11,000 Lakh is within the permissible capital payment of Rs. 11,626.47 Lakh calculated based on the audited financial statements. The auditor also confirmed that the Board has formed the opinion that the company will not be rendered insolvent within a period of one year from the date of the Board Meeting. The permissible capital payment was computed based on the following financials:

Promoter Non-Participation and Committee Formation

The promoters and promoter group of the company have expressed their intention not to participate in the buyback, as confirmed through letters of intention dated May 08, 2026. Given this non-participation, equity shares held by the promoters and promoter group shall not be considered for computing the entitlement ratio, resulting in a higher buyback entitlement ratio for other eligible shareholders. A Buyback Committee comprising Mr. S. S. Rajpathak (Director), Mr. Shashank Gupta (CFO), and Mr. Sunil Agarwal (Company Secretary) has been constituted and delegated powers to undertake all necessary acts in relation to the proposed buyback. The declaration of solvency has been authorised to be signed jointly by Mr. Vayu Ramesh Garware, Chairman and Managing Director, and Mr. Shridhar Shrikrishna Rajpathak, Director.

Pre-Buyback Shareholding Pattern

The shareholding pattern of the company as on March 31, 2026, prior to the buyback, is as follows:

The aggregate shareholding of the Promoter and Promoter Group as on the date of the Board Meeting and the Public Announcement totalled 5,29,70,480 equity shares, representing 53.36% of the paid-up equity share capital. Garware Capital Markets Limited holds the largest promoter group stake at 1,82,01,250 shares (18.34%), followed by Vayu Ramesh Garware at 61,57,400 shares (6.20%). The post-buyback shareholding pattern will be ascertained following the completion of the buyback.

During the six months preceding the Board Meeting, Garware Capital Markets Limited (Promoter Group) purchased 3,61,400 equity shares through open market transactions at prices ranging from INR 700.90 to INR 704.00 on November 28, 2025.

Key Intermediaries Appointed

The Board has appointed several intermediaries to facilitate the buyback process:

Trading Window and Regulatory Filing

The trading window for designated persons of the company has been closed since Wednesday, April 1, 2026, for the purpose of consideration of audited financial results for the quarter and year ended March 31, 2026. The trading window closure has been extended to cover the buyback proposal and will be reopened 48 hours after the submission of the audited financial results. Garware Technical Fibres Limited, formerly known as Garware-Wall Ropes Ltd., is registered at Plot No. 11, Block D-1, M.I.D.C., Chinchwad, Pune 411 019, India, with CIN: L25209MH1976PLC018939.