~GARWARETECHNICAL FIBRES

GTFl:SEC:2018 August 13, 2018

BSEUmitedCorporate Relationship Department,New Trading Ring,Rotunda Building, P.J. Towers,Dalal Street, Fort,Mumbai 400001. (Company code: 509557)

• National Stock Exchange of India ltd.Exchange Plaza, Plot No. C/1, 'G' Block,Bandra-Kurla Complex,Bandra East,Mumbai 400051. (Symbol: GARWALLROP,Series: EQ)

Dear Sirs,

Sub: Outcome of meeting of the Board of Directors of the Company held on Monday, 13th

August, 2018

We refer to our letter dated August 06, 2018 and inform that the Unaudited Standalone FinancialResults for the quarter ended so" June, 2018 were taken on record and approved by the Board ofDirectors of the Company at its meeting held today l.e, Monday, is" August, 2018.

We refer to the Regulations 30 and 33 of Securities and Exchange Board of India (listing Obligationand Disclosure Requirements) Regulations, 2015 and accordingly enclosed herewith:

a. The Unaudited Standalone Financial Results for the quarter ended 30th June, 2018.b. limited Review Report on the Unaudited Standalone Financial Results for the quarter ended

so" June, 2018.c. Change in Chief Financial Officer (Key Managerial Personnel) of the Company.

In terms of Regulation 30 read with Clause 7 of para A of Part A of Schedule III of SEBI (lODR)Regulation, 2015, we hereby intimate the change of Chief Financial Officer (CFO) (Key ManagerialPersonal) as mentioned below:

1) Cessation of Mr. S. H. Bamne as Chief Financial Officer:

Sr. No. Particulars Disclosures1. Reason for change viz., appointment, Otherwise- Cease to hold the position of

resignation, removal, death or otherwise Chief Financial Officer (Key ManagerialPerson) of the Company

2. Date of afJfJaiAtffieAt ( cessation (as Closing business hours of Monday, 13tnI

applicable) & teFffiS af afJfJaiAtffieAt August, 2018.

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Registered OfficeGarware Technical Fibres Ltd. (Formerly Garware- Wall Ropes Ltd.): Plot No. 11, Block D-1, M.l.D.C., Chinchwad, Pune 411 019, India.T +9120 3078 000010306 E pune_admin@garwarefibres.com www.garwarefibres.corn CIN: L25209MH1976PLC018939

~GARWARETECHNICAL FIBRES

2) Appointment of Mr. Mukesh Surana as a Chief Financial Officer (Key Managerial Personnel) ofthe Company:

The Board of Directors at its meeting held today i.e. Monday, 13th August, 2018 has appointed Mr.Mukesh Surana as a Chief Financial Officer (Key Managerial Personnel) of the Company under theprovisions of Section 203 of the Companies Act, 2013 and Rules made thereunder and the Securitiesand Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015,based on the re-commendation of the Nomination and Remuneration Committee and approval ofthe Audit Committee of the Board.

Sr. Particulars DisclosuresNo.1. Reason for change viz., appointment, resignation, Appointment

removal, death or otherwise2. Date of appointment l eessatieA (as applicable) & Tuesday, 1411'1August, 2018.

terms of appointment

3. Brief Profile (In case of Appointment) Mr. Mukesh Surana (aged 38 years) isa member of the Institute ofChartered Accountants of India andhaving around two decades of globalexperience in field of Businessstrategy, Mergers and Acquisitions,Investor relations, and the entiregamut of finance, accounts, taxationand information technology.

4. Disclosure of relationship between Directors (In N.A.case of Appointment of Director)

•The Board Meeting was commenced at 11.00 a.m. and concluded at 03.30 p.m.

Kindly acknowledge.

Thanking you,

Yours faithfully,

For GARWARETECHNICALFIBRESLIMITED•&::1---

Sunil AgarwalCompany SecretaryM. No. FCS6407Encl.: as above

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Registered OfficeGarware Technical Fibres Ltd. (Formerly Garware- Wall Ropes Ltd.): Plot No. 11. Block 0-1. M.l.D.C., Chinchwad, Pune 411 019, India.T +912030780000/0306 I·: pune_admin@garwarefibres.com www.garwaretibres.corn CIN: L25209MH1976PLC018939

'" GARWARETECHNICAL FIBRES

• 2. Post applicability of Goods and Service Tax (G5T) w.e.f. 1st July. 2017. the "Revenue from Operations" is disclosed net of G5T. Accordingly. the"Revenue from operations" for the quarter ended 30th June. 2017. are inclusive of excise duty. and is not comparable with "Revenue fromoperations" for the quarter ended 30th June. 2018 to that extent.

3. The Company has opted to publish only unaudited standalone financial resuhs. The company would be consolidating and presentingits Consolidated Financial Statements as at and for the year ended 31st March. 2019.

4. These resuhs have been prepared in accordance with the Companies (Indian Accounting Standards) Rules. 2015 (Ind-AS)prescribed under Section 133 of the Companies Act. 2013 and other recognized practices and policies to the extent applicable.

5. The figures for the quarter ended 31st March. 2018. are the balancing figures between audited figures of the year ended 31st March.2018 and the published figures of the nine months ended 31st December. 2017.

6. Ind-AS 115. Revenue from Contracts with Customers. mandatory for reporting periods beginning on or after 1st April. 2018. replacesexisting revenue recognition requirements. Under the modified retrospective approach. there were no significant adjustmentsrequired to the retained earnings as at 1st April. 2018. Also. the application of Ind-AS 115 did not have any significant impact onrecognition and measurement of revenue and related items in the financial resuhs of the Company.

7. The Unaudited Financial Results for the quarter ended 30th June. 2018. were reviewed by the Audit Committee and have been takenon record and approved by the Board of Directors at its meeting held on Monday. 13th August, 2018. The Statutory Auditors of theCompany have carried out a "limited Review" of the financials for the quarter ended 30th June. 2018.

For Garware T

(The figures of previous periods have been regrouped I rearranged wherever necessary to confirm current period's presentation.)Notes:1. The Company has changed its name from Garware- Wall Ropes limited to Garware Technical Fibres limited with effect from 20th July. 2018.

Place: Pune• Date: 13th Au ust 2018

Registered OfficeGarware Technical Fibres Ltd. (Formerly Garware- Wall Ropes Ltd.): Plot No. 11. Block 0-1. M.l.D.C.•Chinchwad, Pune 411 019. India.T +91 ~O 3078 0000/0306 E pune_admin@garwarefibres.com www.garwarefibres.corn CIN: L25209MH1976PLC018939

~ ffflwklu fJ ~CHARTERED ACCOUNTANTS

Independent Auditors Review Report on Interim Financial Results

To Board of Directors,Garware Technical Fibres Limted(Formerly: Garware- Wall Ropes Limited)

We have reviewed the accompanying statement of Standalone Unaudited Financial Results of Ga""lIn'Technical Fibres Limited (Formerly: Garware-Wall Ropes Limited), (the 'Company') for thequarter ended 30th June, 2017 ('the Statement'), being submitted by the Company pursuant to therequirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requiremenls)Regulations, 2015, as modified by Circular No.CIRlCFDIFAC/62/2016 dated July 5, 2016.

This Statement, which is the responsibility of the Company's management and approved by the Boardof Directors, has been prepared in accordance with the recognition and measurement principles laiddown in Indian Accounting Standard (Ind AS) 34 on 'Interim Financial Reporting', prescribed underSection 133 of the Companies Act, 2013 read with relevant niles issued thereunder; and otheraccounting principles generally accepted in India. Our responsibility is to issue a report on the Statementbased on our review.

We conducted our review of the Statement in accordance with the Standard on Review Engagement(SRE) 2410 on 'Review ofInterim Financial Information Performed by the Independent Auditor or theEntity', issued by the Institute of Chartered Accountants ofIndia. This standard requires that we planand perform the review to obtain moderate assurance as to whether the Statement is free from materialmisstatement. A review is limited primarily to inquiries of Company personnel and analyt icalprocedures applied to financial data and thus provides less assurance than an audit. We have 110tperformed an audit and accordingly, we do not express an audit opinion.

Based on our review conducted as stated above, nothing has come to our attention that causes us tobelieve that the accompanying Statement, prepared in accordance with the aforesaid Indian Account ingstandards and other accounting principles generally accepted in India, has not disclosed the informationrequired to be disclosed in terms of Regulation 33 of SEBI (Listing Obligations and Disclos ureRequirements) Regulations,201S, as modified by Circular No.CIRlCFD/FAC/62/2016 dated July 5,2016, including the manner in which it is to be disclosed, or that it contains any material misstatement.

For Mehta Chokshi & ShahChartered Accountants

(FRN: 106201W)

lebbPartner

(Membership Number: 046088)Place of Signature: PuneDate: 13" August, 2018

/'v\AKER BHAVAN 3, 214, 2ND FLOOR. NEW MARINE LINES. MUMBAI - 400 020.TEL. : 2205 7309 • 22088743 • 6633 4067 • Fax: 2205 5432 • Email : chetanshah@camcs.in

A-l0l, 'MDESHWAR' S.V.P. ROAD, (MANDPESHWAR ROAD). BORIVALI (W), MUMBAI- 400092_Tel. 2893 0502 • Telefax : 2893 05 03 • Email : abhaymehta@camcs.in