Garware Hi-Tech Films Limited , a leading manufacturer of specialty films, held its 68th Annual General Meeting (AGM) on September 24, 2025, where the company reported exceptional financial results for the fiscal year 2025 and announced key strategic developments.

Financial Highlights

The company achieved record-breaking results for FY25, demonstrating strong growth across key financial metrics:

Garware Hi-Tech Films maintained its net debt-free status, showcasing a robust balance sheet that positions the company well for future growth and investments in innovation.

Dividend Increase

The company announced an increase in dividend payout, raising it to 120% of par value from the previous 100%, reflecting its strong financial performance and confidence in future prospects.

Strategic Developments and Expansion

The AGM highlighted several key developments and expansion initiatives:

• New Paint Protection Film Line: Launched on the day of the AGM to meet growing demand.
• GAS Distributor Network Expansion: Expanded to over 250 distributors, enhancing market reach.
• Thermoplastic Polyurethane Plant: Investment in a new plant for backward integration, expected to improve operational efficiencies and drive product innovation.
• Garware Home Solutions: Pilot project launched in key Indian cities, aiming to provide end-to-end solutions for residential consumers.

Awards and Recognition

Garware Hi-Tech Films received several accolades during the year, including:

• Recognition as a top 50 innovative company by the Confederation of Indian Industry (CII)
• Inclusion in Dun & Bradstreet's "India's Top 500 Value Creators of 2024"
• Featured in CII and Grant Thornton's list of fastest-growing Indian-owned companies in the UK
• Gold Award in the "India Green Manufacturing Challenge (IGMC) 2025"
• Green Pro Certification from the India Green Building Council (IGBC)

Future Outlook

Ms. Monika Garware, Vice-Chairperson and Joint Managing Director, who chaired the AGM, expressed optimism about the company's future. She highlighted the untapped potential in the Indian market for sun control films and paint protection films, particularly in the growing electric vehicle segment.

Corporate Governance and Shareholder Approvals

The AGM saw shareholders approve key business items, including:

1. Adoption of audited financial statements
2. Declaration of the final dividend
3. Re-appointment of directors
4. Appointment of joint statutory auditors and secretarial auditors
5. Ratification of cost auditors' remuneration
6. Adoption of a new set of Memorandum of Association

All proposed resolutions are expected to pass with the requisite majority, reflecting strong shareholder support for the company's direction and governance.

Garware Hi-Tech Films Limited continues to demonstrate its commitment to innovation, sustainability, and shareholder value, positioning itself as a leader in the specialty films industry both in India and globally.

Garware Hi-Tech Films Limited , a prominent player in the specialty films industry, has announced significant changes in its top management and compliance structure. The company recently disclosed that its Chief Financial Officer (CFO), Pradeep Mehta, will be stepping down from his position.

CFO Resignation

Pradeep Mehta, who has been serving as the CFO of Garware Hi-Tech Films Limited, is set to resign from his role. The company had initially announced Mehta's resignation on July 5, 2024. His tenure will officially conclude at the close of business hours on August 14, 2024.

Changes in Authorized Persons

Following Mehta's departure, he will no longer serve as an Authorized Person under the Securities and Exchange Board of India (SEBI) Listing Regulations. To ensure continued compliance and smooth operations, Garware Hi-Tech Films has designated two new authorized persons:

1. Mohan S. Adsul: Whole Time Director
2. Awaneesh Srivastava: Company Secretary and Compliance Officer

These newly appointed authorized persons will be responsible for determining the materiality of events for stock exchange disclosures. They will carry out this crucial task under the guidance of the Chairman and Managing Director of the company.

Implications for Investors

This management change and the appointment of new authorized persons underscore Garware Hi-Tech Films' commitment to maintaining transparency and adhering to regulatory requirements. The company's proactive approach in designating new authorized persons ensures that it remains compliant with SEBI Listing Regulations, which is crucial for investor confidence and corporate governance.

Investors and stakeholders will likely be watching closely to see how these changes impact the company's financial reporting and disclosure practices in the coming months. As Garware Hi-Tech Films navigates this transition, the market will be keen to observe any potential shifts in strategy or financial management under the new authorized persons' oversight.