Garware Technical Fibres Approves Buyback of Up to 1,617,500 Shares at INR 680 Each

Garware Technical Fibres has announced that its Board of Directors, at its meeting held on Friday, May 08, 2026, approved a proposal to buy back up to 1,617,500 fully paid-up equity shares at a price of INR 680 per share, for an aggregate amount not exceeding INR 110 crores. The buyback will be conducted on a proportionate basis through the tender offer route using the stock exchange mechanism, in accordance with the Securities and Exchange Board of India (Buy-Back of Securities) Regulations, 2018. The outcome was disclosed pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Buyback Details

The approved 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. The buyback price and key parameters are summarised below:

Parameter: Details Number of Shares: Up to 1,617,500 equity shares % of Paid-Up Capital: 1.63% Buyback Price: INR 680 per equity share Aggregate Buyback Size: Not exceeding INR 110 crores Face Value: INR 10 per share Method: Tender offer via stock exchange mechanism Record Date: Wednesday, May 20, 2026 Board Meeting Time: 12:30 PM to 2:30 PM

The buyback price is exclusive of transaction costs, including brokerage, securities transaction tax, goods and service 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.

Promoter Non-Participation and Committee Formation

The Board has taken note that the promoters and promoter group of the company have expressed their intention not to participate in the buyback. Additionally, the Board has constituted a "Buyback Committee" and delegated its powers to undertake all acts, deeds, matters, and things as may be necessary, expedient, or proper in relation to the proposed buyback.

Pre-Buyback Shareholding Pattern

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

Category of Shareholder: Number of Equity Shares % of Equity Share Capital Promoters & Promoter Group: 52,970,480 53.36% Foreign Investors (NRIs, FIIs, Foreign Mutual Funds): 10,658,896 10.73% Financial Institutions / Banks & Mutual Funds: 10,212,440 10.28% Others (Public, Public Bodies Corporate, etc.): 25,424,029 25.63% Total: 99,265,845 100%

The post-buyback shareholding pattern will be ascertained following the completion of the buyback.

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 as well and will be reopened 48 hours after the submission of the audited financial results. The board meeting intimation was signed by Sunil Agarwal, Company Secretary (M. No. FCS6407), on behalf of Garware Technical Fibres Limited, and was addressed to both BSE Limited and the National Stock Exchange of India Ltd. 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.

Garware Technical Fibres Limited has submitted its mandatory disclosure regarding borrowing framework compliance for FY 2025-26 to stock exchanges, revealing a debt-free position in long-term borrowings while maintaining strong credit ratings.

Outstanding Borrowings Position

The company reported zero outstanding long-term borrowings as of March 31, 2026. This disclosure was made pursuant to SEBI Circular SEBI/HO/DDHS/DDHS-RACPOD1/P/CIR/2023/172 dated October 19, 2023, along with related operational circulars from August 10, 2021, and November 26, 2018.

Parameter Details Outstanding Long-term Borrowings (March 31, 2026) NIL Borrowing Definition As per SEBI Circulars Company Classification Not a Large Corporate

Credit Rating Performance

Despite having no outstanding long-term debt, Garware Technical Fibres maintained robust credit ratings during FY 2025-26. ICRA assigned the company a Long Term AA+ rating with Stable outlook, alongside a Short Term A1+ rating, reflecting strong financial health and creditworthiness.

Rating Category Rating Agency Long Term AA+ (Stable) ICRA Short Term A1+ ICRA Rating Period FY 2025-26 -

Regulatory Compliance Status

The disclosure was signed by Company Secretary Sunil Agarwal and Chief Financial Officer Shashank Gupta on April 15, 2026. The company confirmed it does not qualify as a Large Corporate under SEBI's applicability criteria, making certain borrowing framework requirements not applicable to its operations.

Corporate Information

Garware Technical Fibres Limited, formerly known as Garware-Wall Ropes Ltd., operates with CIN L25209MH1976PLC018939. The company's registered office is located at Plot No. 11, Block D-1, M.I.D.C., Chinchwad, Pune 411 019. The disclosure indicates that provisions for paying fines to stock exchanges in case of borrowing shortfalls are not applicable given the company's current debt-free status and classification.

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