Garware Technical Fibres Limited (GTFL) has officially announced a proposal for the buyback of up to 1,617,500 fully paid-up equity shares. This strategic move represents approximately 1.63% of the company’s total paid-up equity share capital. The Board of Directors, in their meeting held on May 08, 2026, approved the buyback at a price of INR 680 per equity share. The total aggregate amount for this buyback will not exceed INR 110 Crores, excluding transaction costs.

The buyback will be conducted through a “tender offer” route on a proportionate basis, utilizing the stock exchange mechanism. GTFL has fixed Wednesday, May 20, 2026, as the ‘Record Date’ to determine the eligibility of shareholders for this offer. Notably, the promoters and promoter group of the company have indicated their intention not to participate in this buyback process. To manage the execution of this initiative, the Board has constituted a “Buyback Committee” with delegated powers.

Garware Technical Fibres is a leading player in the technical textiles industry, specializing in application-focused solutions like high-performance polymer ropes, aquaculture cages, and geosynthetics. In 2025, the company expanded its global footprint through the acquisition of Offshore & Trawl Supply (OTS) in Norway, strengthening its position in the value-added ropes segment. GTFL continues to focus on innovation, having filed over 100 patents to date, and sees significant growth opportunities in infrastructure projects like highway slope stabilization and waste management liners due to new environmental regulations effective from 2025-26.

For the quarter ended December 31, 2025 (Q3 FY26), Garware Technical Fibres reported a robust financial performance with revenue from operations reaching INR 404.95 Crores. This represents a 13.4% growth compared to the previous quarter’s (Q2 FY26) revenue of INR 357.24 Crores. On a year-on-year basis, revenue increased by 12.6% from INR 359.60 Crores in Q3 FY25. Net profit for the quarter stood at INR 56.35 Crores, marking a significant 76.4% jump from the INR 31.94 Crores recorded in the preceding quarter and a 17.9% increase from INR 47.79 Crores in the same period last year. As of March 2025, prominent shareholders include Vayu Ramesh Garware with a 6.20% holding.