Garware Hi-Tech Films Limited (GHFL) has announced the reappointment of Mrs. Sarita Garware Ramsay (DIN: 00136048) as the Joint Managing Director (JMD) of the company for a period of three years, commencing from May 26, 2025, to May 25, 2028. The decision was taken during the Board of Directors meeting held on Friday, March 28, 2025.

Key Decisions from the Board Meeting

During the meeting held on March 28, 2025, the Board of Directors approved the following key resolutions:

1. Approval of Annual Business/Operational Plan:
   The Board reviewed and approved the company's business and operational plan for the upcoming financial year, setting strategic objectives to drive growth and enhance operational efficiency.

2. Reappointment of Mrs. Sarita Garware Ramsay as JMD:
   Based on the recommendation of the Nomination and Remuneration Committee (NRC), the Board approved the reappointment of Mrs. Sarita Garware Ramsay as Joint Managing Director for a term of three years, effective from May 26, 2025, to May 25, 2028.

3. Postal Ballot for Shareholder Approval:
   The reappointment is subject to shareholder approval, which will be sought through a postal ballot. The postal ballot notice will be filed with the stock exchanges and dispatched to shareholders in due course.

Profile of Mrs. Sarita Garware Ramsay

Mrs. Sarita Garware Ramsay holds an MBA degree from the European University in Switzerland, with a specialization in marketing. She has been associated with Garware Hi-Tech Films Limited as a Director since 1993 and has played a pivotal role in the company's growth and success.

With over three decades of extensive experience in marketing, corporate affairs, legal, secretarial, and human resources, Mrs. Ramsay has contributed significantly to the company’s strategic development and operational efficiency. Her vast knowledge and leadership have been instrumental in driving the company's business objectives and maintaining high standards of corporate governance.

Disclosure of Relationship with Directors

As per the disclosure made under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, Mrs. Sarita Garware Ramsay is:

• Daughter of Dr. S. B. Garware

• Sister of Ms. Monika Garware and Ms. Sonia Garware

Regulatory Compliance and SEBI Requirements

The company has confirmed that Mrs. Sarita Garware Ramsay is not debarred from holding office of a director by virtue of any SEBI order or any other such authority. This disclosure complies with SEBI Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024.

Additionally, information required under BSE Circular No. LIST/COMP/14/2018-19 and NSE Circular No. NSE/CML/2018/02 dated June 20, 2018, has also been provided in the company’s disclosure.

Reappointment Period and Terms

• Reappointment Period: May 26, 2025, to May 25, 2028

• Liable to Retire by Rotation: As per the Articles of Association and applicable regulations, Mrs. Ramsay will be liable to retire by rotation.

• Approval Process: The reappointment will be formalized upon receiving shareholder approval through a postal ballot.

Annual Business/Operational Plan Approved

The Board of Directors also approved the Annual Business/Operational Plan for the upcoming financial year, aligning with the company's long-term vision and growth strategy. The operational plan focuses on:

• Expanding product offerings to meet evolving customer demands.

• Enhancing production efficiency and cost optimization.

• Strengthening market presence across key geographies.

Corporate Governance and Shareholder Transparency

Garware Hi-Tech Films Limited continues to uphold high standards of corporate governance and transparency in all its operations. The company has ensured that all necessary disclosures and compliance requirements are met in line with SEBI (LODR) Regulations, 2015.

Postal Ballot Process for Shareholder Approval

The company will initiate the postal ballot process to seek shareholder approval for the reappointment of Mrs. Sarita Garware Ramsay as Joint Managing Director. The postal ballot notice, along with detailed information regarding the resolution, will be filed with the stock exchanges and dispatched to shareholders shortly.

Significance of Reappointment for Garware Hi-Tech Films

The reappointment of Mrs. Sarita Garware Ramsay as Joint Managing Director is a strategic decision aimed at leveraging her vast experience and leadership acumen to drive the company’s continued growth and success. Her proven track record in marketing, corporate affairs, and strategic planning positions her well to guide the company through its next phase of expansion.

Impact on Business Strategy and Growth

Mrs. Ramsay’s continued leadership is expected to:

• Strengthen the company’s growth trajectory through strategic decision-making.

• Enhance operational efficiency by implementing best practices across departments.

• Foster innovation and market leadership through her expertise in marketing and business management.

Conclusion

The decision to reappoint Mrs. Sarita Garware Ramsay as Joint Managing Director reflects the company’s commitment to maintaining leadership continuity and driving long-term value for its shareholders. With a clear focus on business growth, operational efficiency, and corporate governance, Garware Hi-Tech Films Limited remains well-positioned to capitalize on future opportunities and achieve sustainable growth.

The postal ballot process for shareholder approval will ensure transparency and stakeholder engagement, aligning with the company's dedication to maintaining the highest standards of corporate governance.

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