Garware Technical Fibres logo

Garware Technical Fibres CEO, MD, chairman, board of directors and AGM

NSE: GARFIBRESBSE: 509557Textiles & ApparelsSmall Cap

Formerly Garware Wall Ropes
Last close ₹740.30down ₹9.30 (1.24%)BSE ₹740.75

Share price at the NSE close on 23 Oct 2026. Previous close ₹749.60.

52-week range of traded prices to 23 Oct 2026
₹579.75Low, 30 Mar 2026₹863.40High, 6 Aug 2026
Market cap
₹7,229 Cr702nd largest listed
P/E
34.4
P/B
5.3
Dividend yield
1.22%
ROE
16.2%
ROCE
19.3%
Debt to equity
0.03
Volume, NSE
39,84746.0% delivered

Garware Technical Fibres board of directors

At the end of the quarter to Jun 2026, as the company filed it; changes since are in its announcements.Their trades in its shares

  • Chairperson and managing director and CEOVAYU RAMESH GARWARE
  • Company Secretary and Compliance OfficerSunil Agarwal

6 directors4 independent1 executive1 non-executive

  • VAYU RAMESH GARWARE · Chairperson and managing director and CEOExecutive · joined Dec 1995 · reappointed Dec 1995 · 1 listed board · 2 committee seats
  • MAYURI VAYU GARWARENon-executive · joined Aug 2014 · reappointed Aug 2014 · 1 listed board
  • SHRIDHAR SHRIKRISHNA RAJPATHAKIndependent · joined Nov 2021 · reappointed Nov 2021 · 55 months as independent · 1 listed board · 1 as independent · 2 committee seats, 2 as chair
  • ANIL SADASHIV WAGLEIndependent · joined Jan 2024 · reappointed Jan 2024 · 29 months as independent · 1 listed board · 1 as independent · 2 committee seats
  • ASHISH DHURVENDRA GOELIndependent · joined May 2024 · reappointed May 2024 · 25 months as independent · 1 listed board · 1 as independent · 2 committee seats
  • KIRTI DHARMESH MANGWANIIndependent · joined Nov 2025 · reappointed Nov 2025 · 7 months as independent · 1 listed board · 1 as independent

An independent director has no business or family tie to the company, its promoters or its managers beyond the seat. Listed boards counts the boards of listed companies the director sits on, this one included, and "as independent" how many of those seats are independent ones. Committee seats are audit and stakeholder committee seats across those companies. Months as independent is filed for independent directors only, whose terms the rules cap. Disqualified is the company's own mark that a director may not serve under company law.

1 director who left
  • MALLIKA SAGAR, left 28 Aug 2025: Tenure Completion

Committees and meetings

Who sits on each, and how often they met.Board meeting notices and outcomes

  • Board

    • 20 May 20266 of 6 present4 independent · 11 days in between
    • 8 May 20263 of 6 present3 independent · 85 days in between
    • 11 Feb 20266 of 6 present4 independent

  • Audit Committee

    Chair SHRIDHAR SHRIKRISHNA RAJPATHAK

    VAYU RAMESH GARWARE, ANIL SADASHIV WAGLE, ASHISH DHURVENDRA GOEL

    • 20 May 20264 of 4 present3 independent · 97 days in between
    • 11 Feb 20264 of 4 present3 independent

  • Nomination and remuneration committee

    Chair ANIL SADASHIV WAGLE

    VAYU RAMESH GARWARE, SHRIDHAR SHRIKRISHNA RAJPATHAK, ASHISH DHURVENDRA GOEL

    • 20 May 20264 of 4 present3 independent

  • Stakeholders Relationship Committee

    Chair SHRIDHAR SHRIKRISHNA RAJPATHAK

    VAYU RAMESH GARWARE, ANIL SADASHIV WAGLE, ASHISH DHURVENDRA GOEL

    • 16 Jun 20263 of 4 present3 independent · 26 days in between
    • 20 May 20264 of 4 present3 independent · 34 days in between
    • 15 Apr 20263 of 4 present2 independent · 14 days in between
    • 31 Mar 20262 of 4 present2 independent · 6 days in between
    5 earlier meetings
    • 24 Mar 20262 of 4 present2 independent · 17 days in between
    • 6 Mar 20264 of 4 present3 independent · 24 days in between
    • 9 Feb 20264 of 4 present3 independent · 19 days in between
    • 20 Jan 20263 of 4 present2 independent · 17 days in between
    • 2 Jan 20264 of 4 present3 independent

  • Risk Management Committee

    Chair VAYU RAMESH GARWARE

    SHRIDHAR SHRIKRISHNA RAJPATHAK, ANIL SADASHIV WAGLE

    • 12 Jun 20263 of 3 present2 independent

  • Corporate Social Responsibility Committee

    Chair SHRIDHAR SHRIKRISHNA RAJPATHAK

    VAYU RAMESH GARWARE, MAYURI VAYU GARWARE, ASHISH DHURVENDRA GOEL

    • 20 May 20264 of 4 present2 independent · 97 days in between
    • 11 Feb 20264 of 4 present2 independent

  • Banking and Operation Committee

    Chair VAYU RAMESH GARWARE

    SHRIDHAR SHRIKRISHNA RAJPATHAK, ANIL SADASHIV WAGLE

    • 8 Jun 20263 of 3 present2 independent · 18 days in between

Meetings in the quarter filed and the one before it. The days in between are as the company files them, neither meeting's day counted; the rules allow at most 120. A quorum is the least number of members who must attend for the meeting to decide anything.

Statutory auditor

Named in the results for the quarter to Mar 2026.

  • Mehta Chokshi & Shah LLPPeer-review certificate valid to Mar 2027

A statutory auditor checks the company's accounts and signs its results. Peer review is the accountants' institute's check of an audit firm's own work, which a listed company's auditor must hold a valid certificate of.

Garware Technical Fibres AGM and shareholder votes

Each resolution, how the votes went, and how institutions voted apart from the promoters. A postal ballot is a vote by post or online, held without a meeting.Garware Technical Fibres dividend history

Annual general meeting, 8 Sep 2026

38,585 shareholders on the register on 1 Sep 2026; present: 31 promoters and 30 others; votes counted by Sridhar Mudaliar / SVD and Associates.The company's voting result (opens in a new tab)

  1. To receive, consider, and adopt: a. the Audited Standalone Financial Statements of the Company for the financial year ended 31st March, 2026, together with the Reports of the Board of Directors and Auditors thereon; and b. the Audited Consolidated Financial Statements for the financial year ended 31st March, 2026 and the Report of the Auditors thereon.MoreLess
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.00%

    Turnout: all 70.51% · promoters 100.00% · institutions 77.57% · other public 5.19%

  2. To confirm the payment of Interim Dividend of Rs. 8.00/- (80%) per equity share of Rs. 10/- each already paid during the year as Interim Dividend for the Financial Year 2025-26.
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.00%

    Turnout: all 70.51% · promoters 100.00% · institutions 77.57% · other public 5.19%

  3. To declare a Final Dividend of Rs 1/- (10%) per equity share of Rs. 10/- each, for the Financial Year 2025-26.
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.00%

    Turnout: all 70.51% · promoters 100.00% · institutions 77.57% · other public 5.19%

  4. To appoint a Director in place of Ms. Mayuri Vayu Garware (DIN 06948274), who retires by rotation and being eligible, offers herself for re-appointment.
    Ordinary
    99.91% for0.09% against

    Against: promoters 0.00% · institutions 0.45% · other public 0.00%

    Turnout: all 70.51% · promoters 100.00% · institutions 77.57% · other public 5.19%

  5. Ratification of Cost Auditors' remuneration.
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.00%

    Turnout: all 70.51% · promoters 100.00% · institutions 77.57% · other public 5.19%

  6. Continuation of the appointment of Mr. Anil Sadashiv Wagle (DIN 03403801), as a Non-Executive Independent Director of the Company.
    Special
    91.57% for8.43% against

    Against: promoters 0.00% · institutions 39.95% · other public 0.08%

    Turnout: all 70.51% · promoters 100.00% · institutions 77.57% · other public 5.19%

  7. Re-appointment of Dr. Shridhar Shrikrishna Rajpathak (DIN 00040387), as a Non-Executive Independent Director of the Company.
    Special
    91.66% for8.34% against

    Against: promoters 0.00% · institutions 39.51% · other public 0.08%

    Turnout: all 70.51% · promoters 100.00% · institutions 77.57% · other public 5.19%

  8. Re-appointment of Mr. Vayu Ramesh Garware (DIN 00092201), as Managing Director of the Company.
    Special
    94.00% for6.00% against

    Against: promoters 0.00% · institutions 28.43% · other public 0.08%

    Turnout: all 70.51% · promoters 100.00% · institutions 77.57% · other public 5.19%

For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.

Postal ballot, 18 Jan 2026, 1 resolution

43,648 shareholders on the register on 12 Dec 2025; votes counted by Sridhar Mudaliar / SVD and Associates.The company's voting result (opens in a new tab)

  1. Appointment of Ms. Kirti Dharmesh Mangwani (DIN: 07235467) as a Non-Executive Independent Director of the Company.
    Special
    99.35% for0.65% against

    Against: promoters 0.00% · institutions 3.00% · other public 0.04%

    Turnout: all 69.99% · promoters 100.00% · institutions 77.39% · other public 5.34%

For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.

Annual general meeting, 2 Sep 2025, 6 resolutions

43,958 shareholders on the register on 26 Aug 2025; present: 31 promoters and 26 others; votes counted by Sridhar Mudaliar / SVD and Associates.The company's voting result (opens in a new tab)

  1. To receive, consider, and adopt a. the Audited Standalone Financial Statements of the Company for the financial year ended 31st March, 2025, together with the Reports of the Board of Directors and Auditors thereon and b. the Audited Consolidated Financial Statements for the financial year ended 31st March, 2025 and the Report of the Auditors thereon.MoreLess
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.00%

    Turnout: all 67.91% · promoters 100.00% · institutions 64.51% · other public 5.23%

  2. To declare Dividend on equity shares for the financial year ended 31st March, 2025.
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.00%

    Turnout: all 67.91% · promoters 100.00% · institutions 64.51% · other public 5.23%

  3. To appoint a Director in place of Mr. Vayu Ramesh Garware DIN 00092201, who retires by rotation and being eligible, offers himself for reappointment.
    Ordinary
    98.31% for1.69% against

    Against: promoters 0.00% · institutions 8.47% · other public 0.00%

    Turnout: all 67.91% · promoters 100.00% · institutions 64.51% · other public 5.23%

  4. Ratification of Cost Auditors remuneration.
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.00%

    Turnout: all 67.91% · promoters 100.00% · institutions 64.51% · other public 5.23%

  5. Appointment of Secretarial Auditor
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.00%

    Turnout: all 67.91% · promoters 100.00% · institutions 64.51% · other public 5.23%

  6. To continue the appointment of Dr. Shridhar Shrikrishna Rajpathak DIN 00040387, as a Non-Executive Independent Director of the Company
    Special
    93.74% for6.26% against

    Against: promoters 0.00% · institutions 31.39% · other public 0.00%

    Turnout: all 67.91% · promoters 100.00% · institutions 64.51% · other public 5.23%

For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.

Postal ballot, 21 Dec 2024, 2 resolutions

The company's voting result (opens in a new tab)

  1. Increase in Authorised Share Capital and Consequent Alteration to the Capital Clause of the Memorandum of Association and Article 3 of the Articles of Association
    Special
    99.96% for0.04% against

    Against: promoters 0.00% · institutions 0.12% · other public 0.46%

    Turnout: all 70.91% · promoters 100.00% · institutions 80.46% · other public 5.89%

  2. Issue of Fully Paid-up Bonus Shares.
    Ordinary
    99.19% for0.81% against

    Against: promoters 0.00% · institutions 3.47% · other public 0.43%

    Turnout: all 70.91% · promoters 100.00% · institutions 80.46% · other public 5.89%

For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.

Annual general meeting, 19 Sep 2024, 4 resolutions

Present: 31 promoters and 40 others.The company's voting result (opens in a new tab)

  1. To receive, consider, and adopt:na. the Audited Standalone Financial Statements of the Company for the financial year ended 31st March, 2024, together with the Reports of the Board of Directors and Auditors thereon; andnb. the Audited Consolidated Financial Statements for the financial year ended 31st March, 2024 and the Report of the Auditors thereon.nMoreLess
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.00%

    Turnout: all 70.59% · promoters 100.00% · institutions 79.24% · other public 6.02%

  2. To declare Dividend on equity shares for the financial year ended 31st March, 2024.
    Ordinary
    99.44% for0.56% against

    Against: promoters 0.00% · institutions 2.45% · other public 0.00%

    Turnout: all 70.59% · promoters 100.00% · institutions 79.24% · other public 6.02%

  3. To appoint a Director in place of Ms. Mayuri Vayu Garware (DIN 06948274), who retires by rotation and being eligible, offers herself for re-appointment.
    Ordinary
    99.92% for0.08% against

    Against: promoters 0.00% · institutions 0.33% · other public 0.00%

    Turnout: all 64.38% · promoters 88.30% · institutions 79.24% · other public 6.02%

  4. Ratification of Cost Auditors' remuneration.
    Ordinary
    99.99% for0.01% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.28%

    Turnout: all 70.59% · promoters 100.00% · institutions 79.24% · other public 6.02%

For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.

Postal ballot, 19 Jul 2024, 1 resolution

The company's voting result (opens in a new tab)

  1. Appointment of Mr. Ashish D. Goel (DIN: 00147449) as Non-Executive Independent Director of the Company
    Special
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.09%

    Turnout: all 71.07% · promoters 100.00% · institutions 82.67% · other public 6.02%

For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.

Postal ballot, 6 Mar 2024, 3 resolutions

The company's voting result (opens in a new tab)

  1. TO CONTINUE THE APPOINTMENT OF MR. SHRIKANT PANDHARINATH KULKARNI (DIN 00006914), AS A NON-EXECUTIVE INDEPENDENT DIRECTOR OF THE COMPANY
    Special
    87.15% for12.85% against

    Against: promoters 0.00% · institutions 56.87% · other public 0.14%

    Turnout: all 70.02% · promoters 100.00% · institutions 81.86% · other public 5.37%

  2. APPOINTMENT OF MR. ANIL SADASHIV WAGLE (DIN 03403801) AS A NON-EXECUTIVE INDEPENDENT DIRECTOR OF THE COMPANY
    Special
    92.95% for7.05% against

    Against: promoters 0.00% · institutions 31.20% · other public 0.14%

    Turnout: all 70.01% · promoters 100.00% · institutions 81.86% · other public 5.35%

  3. APPROVAL FOR BUYBACK OF EQUITY SHARES
    Special
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.13%

    Turnout: all 70.02% · promoters 100.00% · institutions 81.86% · other public 5.36%

For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.

Annual general meeting, 18 Sep 2023, 4 resolutions

Present: 31 promoters and 34 others.The company's voting result (opens in a new tab)

  1. To receive, consider, and adopt:na. the Audited Standalone Financial Statements of the Company for the financial year ended 31st March, 2023, together with the Reports ofnthe Board of Directors and Auditors thereon; andnb. the Audited Consolidated Financial Statements for the financial year ended 31st March, 2023 and the Report of the Auditors thereon.MoreLess
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.06%

    Turnout: all 69.02% · promoters 100.00% · institutions 80.10% · other public 6.41%

  2. To declare Dividend on equity shares for the financial year ended 31st March, 2023.
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.02%

    Turnout: all 69.02% · promoters 100.00% · institutions 80.10% · other public 6.41%

  3. To appoint a Director in place of Mr. V. R. Garware (DIN 00092201), who retires by rotation and being eligible, offers himself for re-appointment.
    Ordinary
    98.86% for1.14% against

    Against: promoters 0.00% · institutions 4.93% · other public 0.03%

    Turnout: all 62.55% · promoters 87.73% · institutions 80.10% · other public 6.41%

  4. Ratification of Cost Auditors' remuneration
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.03%

    Turnout: all 69.02% · promoters 100.00% · institutions 80.10% · other public 6.41%

For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.

How mutual funds voted

Fund houses must disclose how they vote at every meeting of a company they hold.Funds that hold it

Mutual fund votes, meeting of 8 Sep 2026, 3 fund houses so far (houses' deadline to file 15 Oct 2026)

  • To receive, consider, and adopt: a. the Audited Standalone Financial Statements of the Company for the financial year ended 31st March, 2026, together with the Reports of the Board of Directors and Auditors thereon; and b. the Audited Consolidated Financial Statements for the financial year ended 31st March, 2026 and the Report of the Auditors thereon.MoreLess
    3 for0 against
  • To confirm the payment of Interim Dividend of Rs. 8.00/- (80%) per equity share of Rs. 10/- each already paid during the year as Interim Dividend for the Financial Year 2025-26.
    3 for0 against
  • To declare a Final Dividend of Rs 1/- (10%) per equity share of Rs. 10/- each, for the Financial Year 2025-26.
    3 for0 against
  • To appoint a Director in place of Ms. Mayuri Vayu Garware (DIN 06948274), who retires by rotation and being eligible, offers herself for re-appointment.
    3 for0 against
  • Ratification of Cost Auditors' remuneration.
    3 for0 against
  • Continuation of the appointment of Mr. Anil Sadashiv Wagle (DIN 03403801), as a Non-Executive Independent Director of the Company.
    Against Edelweiss Mutual Fund
    • Edelweiss Mutual FundCompliant with law. Governance Concern: Prolonged association with the Group and Proposed appointee has been a past employee of the company. Low attendance at Board and Audit committee meetings.
    2 for1 against
  • Re-appointment of Dr. Shridhar Shrikrishna Rajpathak (DIN 00040387), as a Non-Executive Independent Director of the Company.
    Against Edelweiss Mutual Fund, SBI Mutual Fund
    • Edelweiss Mutual FundCompliant with law. No Concern on the merit of the proposed appointee. Governance Concern: Prolonged association with the Group and Proposed appointee has been a past employee of the company. Potential Conflict of Interest for NID to ID without Cooling off period.
    • SBI Mutual FundDr. Shridhar S. Rajpathak, 75, is former Associate VP, Commercial, Garware Technical Fibres Ltd. He was appointed as Non-Executive Non-Independent Director on the board of the company from May 2017 to 10 November 2021 and then subsequently appointed as Independent Director from 11 November 2021, without serving the requisite cool off period. Further, public sources and company filings show that he has been associated with the company for more than 29 years. He has attended all five (100%) board meetings held in FY26. Given his long association with the company, we do not consider him Independent. We do not support the resolution.
    1 for2 against
  • Re-appointment of Mr. Vayu Ramesh Garware (DIN 00092201), as Managing Director of the Company.
    Against Edelweiss Mutual Fund
    • Edelweiss Mutual FundComplaint with law. No Concern on the merit of the proposed appointee. Governance Concern: No absolute cap on variable pay.
    2 for1 against

Mutual fund votes, meeting of 18 Jan 2026, 11 fund houses

  • Appointment of Ms. Kirti Dharmesh Mangwani (DIN: 07235467) as a Non-Executive Independent Director of the Company.
    Against Angel One Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund
    • Angel One Mutual FundTransparency Concern: No clarity on whether the proposed appointee holds two full-time positions.
    • Edelweiss Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual FundCompliant with law. Transparency Concern: No clarity on whether the proposed appointee holds two full-time positions.
    7 for4 against
6 earlier meetings

Mutual fund votes, meeting of 2 Sep 2025, 12 fund houses

  • To receive, consider, and adopt a. the Audited Standalone Financial Statements of the Company for the financial year ended 31st March, 2025, together with the Reports of the Board of Directors and Auditors thereon and b. the Audited Consolidated Financial Statements for the financial year ended 31st March, 2025 and the Report of the Auditors thereon.MoreLess
    12 for0 against
  • To declare Dividend on equity shares for the financial year ended 31st March, 2025.
    12 for0 against
  • To appoint a Director in place of Mr. Vayu Ramesh Garware DIN 00092201, who retires by rotation and being eligible, offers himself for reappointment.
    Against Angel One Mutual Fund, Bandhan Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund
    • Angel One Mutual FundGovernance Concern: Board will be non-compliant with the requisite number of board members and Woman independent Director. The Director is Nomination & Remuneration Committee Member and board chairman is equally accountable for such non-compliance; the Combined position of Chairman & Managing Director.
    • Bandhan Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual FundCompliant with Law. Governance Concern: Board will be non-compliant with the requisite number of board members (Non-compliant board as per Section 17(1)c of SEBI LODR) and Woman independent Director. The Director is NRC Member and board chairman is equally accountable for such non-compliance; the Combined position of Chairman & Managing Director.
    7 for5 against
  • Ratification of Cost Auditors remuneration.
    12 for0 against
  • Appointment of Secretarial Auditor
    12 for0 against
  • To continue the appointment of Dr. Shridhar Shrikrishna Rajpathak DIN 00040387, as a Non-Executive Independent Director of the Company
    Against Angel One Mutual Fund, Bandhan Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, HDFC Mutual Fund, ICICI Prudential Mutual Fund, Mirae Asset Mutual Fund, Motilal Oswal Mutual Fund, WhiteOak Capital Mutual Fund
    • Angel One Mutual FundGovernance Concern: Board will be non-compliant with requisite number of board members and also with the Woman independent Director, Director is Nomination & Remuneration Committee Chairman is equally accountable for such non-compliance. Prolonged association. Potential Conflict of Interest for Non-Executive Independent Director to Independent Director without Cooling off period, Ex-Employee.
    • Bandhan Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual FundCompliant with Law. Governance Concern: Board will be non-compliant with requisite number of board members (Non-compliant board as per Section 17(1)c of SEBI LODR) and also with the Woman independent Director, Director is NRC Chairman is equally accountable for such non-compliance. Prolonged association. Potential Conflict of Interest for NID to ID without Cooling off period, ExEmployee.
    • HDFC Mutual FundDr. Shridhar S. Rajpathak, 74, is former Associate VP, Commercial, Garware Technical Fibres Ltd and has been closely associated with Garware Technical Fibres for the past twenty-three years. We do not support his long association with the company without a cooling off period. We do not support the resolution.
    • ICICI Prudential Mutual FundDr. Shridhar S. Rajpathak, 74, is former Associate VP, Commercial, Garware Technical Fibres Ltd and has been closely associated with Garware Technical Fibres for the past twenty-three years. He was appointed as Non-Executive Non-Independent Director on the board of the company in May 2017 and was subsequently redesignated as independent director for five years from 11 November 2021. Given his long association with the company spanning over two decades, the AMC has voted againt the resolution.
    • Mirae Asset Mutual FundAs per advisory recommendation (Passive holding)
    • WhiteOak Capital Mutual FundDr. Shridhar S. Rajpathak, 74, is former Associate VP, Commercial, Garware Technical Fibres Ltd He was appointed as Non-Executive Non-Independent Director on the board of the company in May 2017 and was subsequently redesignated as independent director for five years from 11 November 2021. He attended all six (100%) board meetings in FY25. Given his long association with the company, we cannot consider him as independent. Accordingly, we do not support his appointment as an Independent Director and, therefore, his continuation on the Board.
    3 for9 against

Mutual fund votes, meeting of 21 Dec 2024, 4 fund houses

  • Increase in Authorised Share Capital and Consequent Alteration to the Capital Clause of the Memorandum of Association and Article 3 of the Articles of Association
    4 for0 against
  • Issue of Fully Paid-up Bonus Shares.
    4 for0 against

Mutual fund votes, meeting of 19 Sep 2024, 5 fund houses

  • To receive, consider, and adopt:na. the Audited Standalone Financial Statements of the Company for the financial year ended 31st March, 2024, together with the Reports of the Board of Directors and Auditors thereon; andnb. the Audited Consolidated Financial Statements for the financial year ended 31st March, 2024 and the Report of the Auditors thereon.nMoreLess
    5 for0 against
  • To declare Dividend on equity shares for the financial year ended 31st March, 2024.
    5 for0 against
  • To appoint a Director in place of Ms. Mayuri Vayu Garware (DIN 06948274), who retires by rotation and being eligible, offers herself for re-appointment.
    5 for0 against
  • Ratification of Cost Auditors' remuneration.
    5 for0 against

Mutual fund votes, meeting of 19 Jul 2024, 5 fund houses

  • Appointment of Mr. Ashish D. Goel (DIN: 00147449) as Non-Executive Independent Director of the Company
    5 for0 against

Mutual fund votes, meeting of 6 Mar 2024, 7 fund houses

  • TO CONTINUE THE APPOINTMENT OF MR. SHRIKANT PANDHARINATH KULKARNI (DIN 00006914), AS A NON-EXECUTIVE INDEPENDENT DIRECTOR OF THE COMPANY
    Against Groww Mutual Fund, HDFC Mutual Fund, ICICI Prudential Mutual Fund, Kotak Mahindra Mutual Fund, Motilal Oswal Mutual Fund
    • Groww Mutual FundNo Concern identified with profile and attendance of the appointee. Governance Concern: Prolonged association with the Company/Group. Directors has been executive director at the Company and the Group Level in the past. Director is the Chairperson of Audit Committee and Nomination and Remuneration Committee.
    • HDFC Mutual FundGiven his past association with the group we do not consider him as an independent director
    • ICICI Prudential Mutual FundMr. Shrikant Kulkarni was associated with the Garware group from 1973 till his retirement in 2011. In his last role, he served as Wholetime Director of Garware Elastomerics Limited. Prior to his role at Garware Elastomerics Limited, he served as Head of Exports and Projects at Garware Technical Fibres Limited. He has been on the board of the company since July 2007. He attended all four board meetings held in FY2023 and all four board meetings held in FY2024 till the date of shareholder notice. Given his overall board tenure of more than ten years and his past association with the group, he cannot be classified as independent and hence, the AMC has voted against the resolution.
    • Kotak Mahindra Mutual FundAlthough no concern is identified on merits of the director, the director holds past association with the company and has prolonged association with the company. This opposes the spirit behind the provision of SEBI LODR 2015. Moreover, Mr S.P. Kulkarni is the chairman of Audit Committee (AC) & Nomination & Remuneration Committee (NRC) which raises a governance concern. Hence voting against.
    • Motilal Oswal Mutual Fund"No Concern identified with profile and attendance of the appointee. Governance Concern: Prolonged association with the Company/Group. Directors has been executive director at the Company and the Group Level in the past. Director is the Chairperson of Audit Committee and Nomination and Remuneration Committee."
    2 for5 against
  • APPOINTMENT OF MR. ANIL SADASHIV WAGLE (DIN 03403801) AS A NON-EXECUTIVE INDEPENDENT DIRECTOR OF THE COMPANY
    Against Groww Mutual Fund, HDFC Mutual Fund, ICICI Prudential Mutual Fund, Kotak Mahindra Mutual Fund, Motilal Oswal Mutual Fund
    • Groww Mutual Fund, Motilal Oswal Mutual FundNo Concern identified with profile and attendance of the appointee. Governance Concern: Proposed appointee has been a past-employee of the company.
    • HDFC Mutual FundGiven his past association with the group we do not consider him as an independent director
    • ICICI Prudential Mutual FundAnil Wagle has previously served as Company Secretary and Legal Head of Garware Technical Fibres Limited for over ten years; the company’s annual reports indicate that he was associated as company secretary till FY2012. He served as Director, liable to retire by rotation, on the board of Garware Capital Markets Limited (promoter group company) from October 2022 till November 2023. Given his past association with the group, he cannot be classified as independent and hence, the AMC has voted against the resolution.
    • Kotak Mahindra Mutual FundMr. Anil Sadashiv Wagle holds past association with the company and has prolonged association with the company. This opposes the spirit behind the provision of SEBI LODR 2015.
    2 for5 against
  • APPROVAL FOR BUYBACK OF EQUITY SHARES
    7 for0 against

Mutual fund votes, meeting of 18 Sep 2023, 7 fund houses

  • To receive, consider, and adopt:na. the Audited Standalone Financial Statements of the Company for the financial year ended 31st March, 2023, together with the Reports ofnthe Board of Directors and Auditors thereon; andnb. the Audited Consolidated Financial Statements for the financial year ended 31st March, 2023 and the Report of the Auditors thereon.MoreLess
    7 for0 against
  • To declare Dividend on equity shares for the financial year ended 31st March, 2023.
    7 for0 against
  • To appoint a Director in place of Mr. V. R. Garware (DIN 00092201), who retires by rotation and being eligible, offers himself for re-appointment.
    Against Motilal Oswal Mutual Fund
    • Motilal Oswal Mutual FundCompliant with law. Governance Concern: Combined position of Chairman & Managing Director.
    6 for1 against
  • Ratification of Cost Auditors' remuneration
    7 for0 against

Each fund house counted once, from its own disclosure; the reasons are its own words.

Investor complaints and compliance

Quarter by quarter.

Investor complaints received and resolved, the company's own count

  • Received
  • Resolved

Open at the quarter's end

None open at any quarter's end.
The board is made up as the listing rules require
Yes
The board has a regular chairperson
Yes
The company has a risk management committee
Yes
The chair is related to the managing director
Yes
The filing has a part on fines and penalties
No
The filing has a part on tax disputes
No
There was a cyber security incident in the quarter
No

The company's own answers in its filing.