Garware Hi-Tech Films Limited has informed the Exchange regarding Notice of Postal Ballot
GRWRHITECH · price
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Garware Hi-Tech Films has issued a postal ballot notice seeking shareholder approval for the appointment of Mr. Uday Vasantrao Joshi (DIN: 09753984) as Whole-time Director for a period of three years, from February 1, 2026 to January 31, 2029. Mr. Joshi, who was first appointed as an Additional Director on February 1, 2026, holds a B.E. (Production) from VJTI Mumbai and brings around 35 years of experience in BOPET film manufacturing, process, and quality control. He will receive a gross remuneration of Rs. 1.11 crore per annum (Rs. 9.25 lakh per month inclusive of all), plus reimbursements for petrol, telephone, and entertainment expenses, and the resolution also seeks approval to pay this as minimum remuneration in case of inadequate profits. The remote e-voting window runs from February 23, 2026 (9:00 AM) to March 24, 2026 (5:00 PM), with results expected by March 26, 2026. For context, the company reported FY25 turnover of Rs. 1,995 crore and net profit of Rs. 339 crore.
This is a routine board-strengthening move with no immediate material effect on financials, but shareholders should note the proposed annual payout of about Rs. 1.11 crore to a key operational director. Approval is being sought as a special resolution, so the outcome will depend on how shareholders vote during the e-voting window.