Galaxy Bearings Limited

Board Meeting Outcomes

  • Considered and approved the Unaudited Financial Results of the Company for the Quarter and half year ended September 30, 2026 in accordance with Regulation 33 of SEBI Listing Regulations
  • Considered and approved all other business as per agenda circulated
  • The financial results were accompanied by a Limited Review Report issued by Statutory Auditor J. T. Shah & Co.

Financial Results for Quarter Ended September 30, 2026 (Standalone)

Income Statement (₹ in Lakhs):

  • Revenue from operations: ₹2,309.01
  • Other Income: ₹40.71
  • Total Income: ₹2,349.72

Expenses:

  • Cost of Materials consumed: ₹1,232.25
  • Changes in inventories: ₹(428.21)
  • Employee benefits expense: ₹197.99
  • Finance costs: ₹38.15
  • Depreciation and amortization expense: ₹41.55
  • Other expenses: ₹1,046.18
  • Total Expenses: ₹2,127.91

Profitability:

  • Profit before tax: ₹221.82
  • Tax Expense: ₹72.63 (Current tax: ₹94.00, Deferred tax: ₹(21.37))
  • Profit for the period: ₹149.18
  • Other Comprehensive Income: ₹(0.07)
  • Total Comprehensive Income: ₹149.12

Per Share Data (Face Value ₹10):

  • Basic EPS: ₹4.69
  • Diluted EPS: ₹4.69

Half-Year Performance (April 1, 2026 to September 30, 2026)

Income Statement (₹ in Lakhs):

  • Revenue from operations: ₹3,903.93
  • Other Income: ₹333.74
  • Total Income: ₹4,237.67
  • Total Expenses: ₹3,618.35
  • Profit before tax: ₹619.33
  • Tax Expense: ₹140.38
  • Profit for the period: ₹478.94
  • Total Comprehensive Income: ₹478.83
  • Basic EPS: ₹15.06
  • Diluted EPS: ₹15.06

Comparative Performance

Quarterly Comparison (₹ in Lakhs):

  • Q2 FY2026 Revenue: ₹2,309.01 vs Q2 FY2025: ₹1,510.21
  • Q2 FY2026 Net Profit: ₹149.18 vs Q2 FY2025: ₹(215.20) loss

Half-Year Comparison (₹ in Lakhs):

  • H1 FY2026 Revenue: ₹3,903.93 vs H1 FY2025: ₹3,198.75
  • H1 FY2026 Net Profit: ₹478.94 vs H1 FY2025: ₹44.01

Balance Sheet Highlights as at September 30, 2026 (₹ in Lakhs)

Assets:

  • Property, Plant and Equipment: ₹2,889.71
  • Capital Work-In-Progress: ₹1,327.35
  • Other Intangible Assets: ₹6.51
  • Inventories: ₹2,723.65
  • Investments: ₹3,667.54
  • Trade Receivables: ₹3,847.35
  • Cash and Cash Equivalents: ₹28.51
  • Total Assets: ₹15,409.66

Liabilities and Equity:

  • Share Capital: ₹318.00
  • Other Equity: ₹11,168.43
  • Total Equity: ₹11,486.43
  • Deferred Tax Liabilities: ₹259.78
  • Borrowings: ₹2,058.98
  • Trade Payables: ₹1,444.81 (Micro & small enterprises: ₹889.10, Others: ₹555.71)
  • Total Current Liabilities: ₹3,663.45

OFAC Sanctions Resolution

The Limited Review Report contains an Emphasis of Matter regarding the company's removal from the OFAC SDN List. Key details:

  • The company was placed on the US Department of Treasury SDN List on October 30, 2024, for allegedly providing Russia with technologies for military operations
  • This designation prevented the company from accessing USD & EURO through official markets
  • The company engaged US legal counsel and submitted an application to OFAC for removal
  • OFAC removed the company from the SDN List vide letter dated June 30, 2026
  • The company informed the stock exchange of this development on July 1, 2026, under Regulation 30
  • The proceedings relating to the company's designation are now concluded
  • The removal permits the company to engage in transactions involving U.S. persons and through the U.S. financial system
  • The company expects the removal to facilitate gradual normalization of international business operations

Additional Information

  • The company does not have any Subsidiary/Associates
  • Figures for previous periods have been regrouped/reclassified where necessary
  • The company operates primarily in the business of Ball & roller Bearings with no separate reportable business segments
  • Paid up Equity Share Capital remains unchanged at ₹318.00 lakhs (Face value ₹10 each)

Cash Flow Statement Highlights (Half-Year Ended September 30, 2026)

  • Net cash from operating activities: ₹54.72 lakhs
  • Net cash used in investing activities: ₹(220.50) lakhs (mainly Purchase of Fixed Assets: ₹346.19 lakhs)
  • Net cash from financing activities: ₹168.12 lakhs (mainly Proceeds from Short Term Borrowings: ₹245.62 lakhs)
  • Net increase in cash: ₹2.34 lakhs