Garware Technical Fibres Limited has shared comprehensive business updates and strategic initiatives through an investor presentation, as disclosed under SEBI Regulation 30. The presentation, digitally signed by Company Secretary Sunil Agarwal on March 08, 2026, showcases the company's position as a leading player in technical textiles with significant achievements and growth prospects.

Company Highlights and Innovation

The company has established itself as a prominent technical textiles manufacturer since 1976, demonstrating strong innovation capabilities and financial stability.

Aquaculture Solutions Portfolio

Garware Technical Fibres has developed comprehensive solutions for the aquaculture industry, addressing key challenges including fish escapes, bio-fouling management, and predation. The company's product portfolio includes lice skirts, mooring ropes, knotless nets, and braided nets designed with focus on strength retention, stiffness, and fouling resistance.

The global salmon market presents significant opportunities, with salmon consumption value increasing by 98.00% from 2014 to 2024. The industry experienced 8.00% demand growth compared to 3.00% supply growth over the past decade, with demand growing by 10.00% in 2025.

VAR Business and OTS Acquisition

The company's VAR (Value Added Ropes) business focuses on UHMWPE, fabricated slings, and high-strength polyolefin products for mooring, towing, offshore, transmission, and defense applications. The OTS acquisition has strengthened the company's brand presence and delivered planned financial performance in 2025, contributing positively to ROCE and EPS.

Geosynthetics Growth Strategy

The geosynthetics division continues to show strong performance with significant growth opportunities ahead. The division has secured major projects in rockfall protection, slope protection, and coastal protection works across various states.

Sustainability and Social Initiatives

Garware Technical Fibres has made substantial progress toward carbon neutrality, achieving 65.00% power from renewable sources and 24.00% reduction in GHG emissions. The company has also reduced water consumption by 25.00% and fossil fuel consumption by 25.00%, while recycling 65.00% of waste produced.

The Garware Youth Development Centre in Wai, launched in October 2023, has benefited 333 individuals through foundation courses, with 283 completing skilling courses and 127 securing employment or starting their own ventures.

Garware Technical Fibres Limited has disclosed receiving fine waiver approval from the National Stock Exchange of India for regulatory non-compliance during the quarter ended December 31, 2025. The company had faced penalties from both BSE and NSE for violating board composition requirements under SEBI regulations.

Regulatory Non-Compliance Details

The company received notices from both stock exchanges on February 27, 2026, regarding the imposition of fines for non-compliance with Regulation 17(1) of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015. The violation pertained to the company having fewer than six directors and not maintaining a woman independent director during part of the quarter ended December 31, 2025.

Board Composition Changes

The non-compliance situation arose when Ms. Malika Sagar ceased to be an Independent Director upon completion of her second term on August 28, 2025. This created a gap in the board composition, leaving the company without the required number of directors and without a woman independent director.

The company had identified Ms. Kirti Dharmesh Mangwani as a replacement, with the Nomination and Remuneration Committee recommending her appointment in their meeting held on April 29, 2025. However, her appointment required prior approval from the Director General of Civil Aviation (DGCA), Government of India.

Resolution and Fine Waiver

Garware Technical Fibres submitted the necessary application to DGCA on May 19, 2025, seeking regulatory approval for the director appointment. Upon receiving the required approval, Ms. Kirti Dharmesh Mangwani was appointed as Non-Executive Independent Director effective from November 25, 2025, bringing the company into complete compliance with Regulation 17(1).

Financial Impact

The company has confirmed that there will be no financial impact from these regulatory notices, as the National Stock Exchange approved the waiver of fines on February 16, 2026. The waiver covers fines for delay in compliance pertaining to Regulation 17(1)(a) and 17(1)(c) for the quarters ended September 30, 2025 and December 31, 2025.

According to the company's disclosure, the fine waiver means that the penalties of Rs. 2,75,000 plus GST each from both exchanges will not be required to be paid. The company has stated that there is no impact on its financial, operational, or other activities due to this regulatory matter.