On recommendation of Nomination and Remuneration Committee of the Board, the Board of Directors of the Company at its meeting held today i.e. 20th May 2026 has considered and approved the ....
GARFIBRES · price
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Garware Technical Fibres reported FY2026 audited results with standalone revenue declining 4.7% to Rs 1,41,898 lakhs and consolidated revenue declining 0.7% to Rs 1,52,879 lakhs. Standalone PAT fell 1.3% to Rs 21,127 lakhs while consolidated PAT dropped 14.2% to Rs 19,867 lakhs due to an exceptional item of Rs 1,390 lakhs from new labour code implementation. The company completed acquisition of Offshore & Trawl System AS and Advanced Mooring System AS (Norway) in July 2025, whose results are included in consolidated figures making YoY comparison not directly comparable. Board recommended final dividend of Rs 1 per share (total Rs 9.93 crore) in addition to Rs 8 interim already paid. Re-appointed Mr. V.R. Garware as Chairman & Managing Director for 5 years from December 2026, re-appointed Dr. Shridhar Rajpathak as Independent Director for second term, and appointed Ms. Poonam Gupta as CHRO. A share buyback of up to 16.17 lakh shares at Rs 680 per share (max Rs 11,000 lakh) was approved with record date May 20, 2026.
Revenue and profit declined year-on-year though consolidated results are affected by new acquisitions and exceptional labour code charges. Share buyback may provide support to stock price. Clean audit opinion with no going concern or qualified remarks indicates financial health.