Kindly take on your record the ANNUAL REPORT 2026 of the Company.

(GanWaRE) wa | GARWARE MARINE INDUSTRIES LIMITED Regd. Office: A/304, Naman Midtown, Senapati Bapat Marg, Prabhadevi (West), Mumbai — 400 013 Phone: 022 45857806; Email: investorredressal@garwaremarine.com; Website: www.garwaremarine.com 31.08.2026 The Listing Department BSE Limited Phiroze Jeejeebhoy Towers Dalal Street, Mumbai — 400 001 SCRIP CODE: 509563. Subject: Submission of Annual Report for the Financial Year 2025-26. Ref.: Regulation 34(1) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 Dear Sir/Madam, Pursuant to Regulation 34(1) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and the applicable provisions of the Companies Act, 2013, we hereby submit the Annual Report of the Company for the Financial Year 2025-26. The said Annual Report is being submitted in connection with the 48th Annual General Meeting (‘AGM’) of the Company, which is scheduled to be held on Wednesday, 23 September, 2026 at 11:30 am., through Video Conferencing (“VC”) / Other Audio-Visual Means (“OAVM’), in accordance with the applicable provisions of the Companies Act, 2013 and the rules made thereunder, read with the applicable circulars and notifications issued by the Ministry of Corporate Affairs and the SEBI (LODR) Regulations, 2015. The deemed venue of the said 48" AGM shall be: A/304, Naman Midtown, Senapati Bapat Marg, Prabhadevi (West), Mumbai — 400 013. The Annual Report, inter alia, contains the Audited Financial Statements of the Company for the financial year ended 31st March, 2026, together with the Board’s Report, Auditors Report and other applicable reports and disclosures as required under the Companies Act, 2013 and the applicable provisions of the SEBI (LODR) Regulations, 2015. We request you to kindly take the above submission on record and disseminate the same on your website. Thanking you, Yours faithfully, For Garware Marine Industries Limited Digitally signed by PALLAVI PALLAVI SHEDGE Date: 2026.08.31 SH EDG 14:53:35 +05'30' Pallavi P. Shedge Company Secretary & Compliance Officer A29787 (GARWARE) GARWARE MARINE INDUSTRIES LIMITED 48™ ANNUAL REPORT 2025-26 Board of Directors Mr. Aditya A. Garware - Chairman Mrs. Shefali S. Bajaj - Non Executive Director Mr. Sanjay V. Chinai - Independent Director (till 14" October, 2025) Mr. Vikas D. Sadarangani - Independent Director Mr. Piyush V. Patel - Independent Director Mr. Amir J. Pradhan - Independent Director (w.e.f. 12'" August, 2025) Mr. Shyamsunder V. Atre - Executive Director Company Secretary Ms. Pallavi P. Shedge Chief Financial Officer Mrs. Vipulata S. Tandel Bankers IDBI Bank Ltd. Indian Overseas Bank Auditors Messrs. D. Kothary & Co., Chartered Accountants Registered Office A-304, Naman Midtown, Senapati Bapat Marg, Prabhadevi (West), Mumbai — 400013 CIN L12235MH1975PLC01 8481 Registrar & Share Bigshare Services Private Limited Transfer Agent $6-2, 6th Floor, Pinnacle Business Park, Next to Ahura Centre, Mahakali Caves Road, Andheri - East,Mumbai 400093 INDEX Notice Boards’ Report 16 Report on Corporate Governance 31 Management Discussion & Analysis 50 Auditors’ Report 54 Balance Sheet 62 Profit & Loss Statement 63 Cash Flow Statement 64 Notes to the Financial Statements 66 GARWARE MARINE INDUSTRIES LIMITED 48™ Annual Report 2025-26 NOTICE NOTICE is hereby given that the Forty Eighth Annual General Meeting (AGM) of the Members of Garware Marine Industries Limited will be held on Wednesday, 23" September, 2026 at 11:30 AM, through two-way Video Conference (VC) / Other Audio Visual Means (OVAM) facility organized by the Company, deemed venue to be Company’s Registered office located at A/304, Naman Midtown, Senapati Bapat Marg, Prabhadevi (West), Mumbai — 400 013 to transact the following business. ORDINARY BUSINESS: 1. To receive, consider and adopt the Audited Balance Sheet as at 31st March, 2026 and Statement of Profit and Loss and Cash Flow Statement for the year ended on that date together with the Directors’ and Auditors’ Report thereon; 2. To appoint a Director in place of Mr. Aditya A. Garware (DIN: 00198146) who retires by rotation and being eligible, offers himself for re-appointment. SPECIAL BUSINESS: 3. To consider and approve the re-appointment of Mr. Shyamsunder V. Atre (DIN: 01893024) as Executive Director, with effect from 31% October, 2026 for a period of two years and if thought fit, to pass with or without modification(s), the following resolution as a Special Resolution: “RESOLVED THAT pursuant to the provisions of Sections 196, 197, 203 and other applicable provisions, if any, of the Companies Act, 2013 read with Schedule V and the applicable Rules made thereunder and other applicable Regulations of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended from time to time and the Article No. 138 of Articles of Association of the Company, Mr. Shyamsunder V. Atre (DIN: 01893024), be and is hereby re-appointed as Executive Director, for a period of two years with effect from 31° October, 2026, on the terms and conditions, including remuneration, as mentioned in the Explanatory Statement attached to this notice, with liberty to the Board of Directors to vary, amend or revise the remuneration within the maximum ceiling in accordance with the provisions of the Act, and as may be agreed to between the Board of Directors and Mr. Shyamsunder V. Atre. “RESOLVED FURTHER THAT the Board of Directors and the Company Secretary of the Company be and is hereby authorized to do all such acts, deeds, matters and things, as it may, in its absolute discretion deem necessary, proper or desirable to give effect to the aforesaid resolution.” 4. To consider and approve the appointment of Mr. Hasan Alibhai Bhinderwala, (DIN: 06751723), as a Non-Executive Independent Director of the Company with effect from 12" August, 2026 for a period of five years (first term) and if thought fit, to pass with or without modification, the following Resolution as a Special Resolution: “RESOLVED THAT pursuant to the provisions of Sections 149, 150, 152, 161, Schedule IV and other applicable provisions of the Companies Act, 2013 (“Act”) read with the Rules framed thereunder, and applicable provisions of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, (“LODR Regulations”) (including any statutory modification or re-enactment thereof for the time being in force), the Articles of Association of the Company, approvals and recommendation of the Nomination and Remuneration Committee and that of the Board of Directors, Mr. Hasan Alibhai Bhinderwala, (DIN: 06751723), who was appointed as an Additional Director in the capacity of Non-Executive Independent Director with effect from 12'" August, 2026 and who meets the criteria for independence under Section 149(6) of the Act and the Rules made thereunder and Regulation 16(1)(b) of the SEBI LODR Regulations, be and is hereby appointed/ designated as a Non-Executive Independent Director of the Company for a period of five years till 11th August, 2031 (first term), and that he shall not be liable to retire by rotation. RESOLVED FURTHER THAT the Board be and is hereby authorized to delegate all or any of the powers to any committee of directors with power to further delegate to any other Officer(s) / Authorized Representative(s) of the Company to do all acts, deeds and things and take all such steps as may be necessary, proper or expedient to give effect to this resolution.” By Order of the Board of Directors Pallavi P. Shedge Company Secretary Registered Office: A/304, Naman Midtown, Senapati Bapat Marg, Prabhadevi (West), Mumbai — 400 013 CIN: L12235MH1975PLC840811 Date : 12" August, 2026 Place: Mumbai NOTES: GENERAL INFORMATION 1. The Ministry of Corporate Affairs, Government of India (“MCA”) has vide its circular No. 9/2023 dated 25 September, 2023, read with circulars dated 8 April, 2020, 13 April, 2020, 5 May, 2020, 13 January, 2021, 8 December, 2021 and 2 [Showing first 8,000 characters — download PDF for full document]