Meeting Details

The 69th Annual General Meeting (AGM) of Garware Hi-Tech Films Limited was held on Wednesday, September 23, 2026. The meeting commenced at 11:30 A.M. at the Registered Office of the Company at Naigaon, Post Waluj, Chhatrapati Sambhajinagar (Aurangabad) – 431133.

Chairperson of the Meeting

In the absence of Dr. S. B. Garware, the Chairman and Managing Director, Dr. Nayan Rawal (Independent Director) proposed the name of Ms. Monika Garware, the Vice-Chairperson and Joint Managing Director, to take the Chair. This was seconded by Ms. Sonali Mehta (Independent Director). Ms. Monika Garware subsequently chaired the meeting.

Summary of Proposed Resolutions

Four ordinary resolutions, as per the Notice dated August 06, 2026, were transacted at the meeting:

  • Item 1: Adoption of Audited Standalone and Consolidated Financial Statements for the year ended March 31, 2026, together with Reports of the Board of Directors and Auditors.
  • Item 2: Declaration of Final Dividend on Equity Shares for the financial year ended March 31, 2026.
  • Item 3: Re-appointment of Ms. Sonia Garware (DIN: 00135995) as a Director, who retired by rotation.
  • Item 4: Ratification of remuneration of the Cost Auditors.

All resolutions were to be passed with a requisite majority.

Voting Process

The company provided a facility for members to cast votes electronically (remote e-voting) on all resolutions prior to the meeting. Members present at the AGM who had not voted remotely were provided an opportunity to cast their votes through ballot papers.

Scrutinizer Appointment

The Board of Directors appointed Mr. Mannish L. Ghia (Membership No. FCS: 6252 and CP No. 3531), Partner of M/s. Manish Ghia & Associates, Company Secretaries, Mumbai, as the Scrutinizer. His role was to scrutinize the votes cast through both the remote e-Voting platform and the ballot papers at the AGM venue.

Compliance and Other Information

The requisite quorum was present for the meeting. The Auditors' Report was noted to contain no qualifications or adverse remarks. Statutory Registers were kept open for inspection by members at the venue as required under the Companies Act, 2013. The meeting concluded at 11:55 A.M.

The voting results pursuant to Regulation 44(3) of the SEBI LODR and the Scrutinizer's Report were stated to be submitted to the exchanges in due course.

Financial and Operational Highlights from Chairperson's Speech

The enclosed speech by Chairperson Monika Garware provided a business update, though it was not part of the formal voting items. Key highlights included:

  • FY2026 Performance: Consolidated revenue was ₹2,120 crore (highest ever), EBITDA was ₹500 crore, and profit after tax was ₹338 crore.
  • Q4 FY2026 Performance: Revenue was ₹597 crore, EBITDA was ₹157 crore, and EBITDA margin was 26.2%.
  • Q1 FY2027 Performance: Revenue increased 28% year-on-year to ₹633 crore. EBITDA increased 56% to ₹192 crore, with an EBITDA margin exceeding 30% for the first time. Profit after tax increased 60% to ₹133 crore.
  • Strategic Update: The company is transforming into a specialty materials and high-value films company, focusing on Paint Protection Films, Sun Control Films, and Architectural Films.
  • Capex: The Board approved a ₹191 crore investment in a new state-of-the-art Sun Control Film line and is progressing with a TPU extrusion project.
  • Global Ambition: The company aims to deepen its international presence and compete globally.