Garware Technical Fibres, in an exchange filing released on Tuesday, said that its board will meet on May 8 to consider and approve a proposal for buyback of equity shares of the company, having a face value of Rs 10 each. It added that the trading window is already closed for designated persons since April 1 for the consideration of its Q4 results.
Garware Technical Fibres share buyback history
The company had last announced a buyback of shares worth nearly Rs 200 crore in 2024, at a buyback price of Rs 3,800 apiece. This marked a premium of more than 11% over the levels at which the shares of the company were trading at the time of announcement.
Before that, Garware Technical Fibres announced a share buyback worth Rs 90 crore at a buyback price of Rs 3,750 apiece, implying a premium of nearly 11% over the market price.
ICRA on Garware Technical Fibres
ICRA, in a recent report, reaffirmed its ratings on Garware Technical Fibres, noting the company’s “strong business and financial profiles along with a market leadership position across many of the segments for the geographies that it operates in”. “The company remains well diversified across geographies and industry segments. The ratings also continue to factor Garware Technical Fibres’ strong conservative capital structure and robust liquidity position along with healthy profitability indicators, supported by an improved product mix, prudent working capital management and strong cash flow generation,” it said.
The domestic ratings agency also highlighted Garware Technical Fibres’ sizeable quantum of share buybacks and dividend payouts over the years. With an expected strong cash flow generation, and limited avenues for capital expenditure (capex), ICRA expects the company to continue buybacks and dividend payouts to the equity shareholders.
Garware Technical Fibres share price
Garware Technical Fibres shares gained around 3% to trade at Rs 641.90 apiece on Wednesday, as seen at 12.30 pm. The stock has gained around 5% in one week and more than 7% in one week. The stock however declined nearly 8% in 2026 so far and 26% in one year.
In the longer term, the shares of the company delivered 10% return over three years and 20% return over five years. The company currently has a market capitalisation of around Rs 6,372 crore.