Galaxy Bearings reported FY26 net profit of ₹3.31 crore, down 76% from ₹13.71 crore in FY25, with revenue declining 35% to ₹67.51 crore.
The company remains on OFAC's SDN List since October 2024, blocking USD/EURO transactions and incurring ₹70 crore legal fees for removal efforts.
Board reapproved M/s. M N V Patel & Co LLP as internal auditor and M/s. Mitesh Suvagiya & Co as cost auditor for FY26-27.
Statutory auditors issued unmodified opinion on financial results despite OFAC designation uncertainty impacting operations.