Key Board Meeting Outcomes

1. Approval of Audited Financial Results

The Board considered and approved the Audited Financial Results of the Company for the quarter and financial year ended 31st March, 2026.

2. Declaration on Audit Report

3. Reconstitution of Committees

Due to the demise of Mr. Vijai Singh Dugar, Independent Director, and resignation of Mr. Sunil Samal, Non-Executive Director, the Board reconstituted the Nomination & Remuneration Committee and Stakeholders Relationship Committee with immediate effect.

Financial Results Summary (Rs. in Lakhs)

Income Statement Highlights

  • Revenue from operations: Q4 FY26: ₹1,185.47; FY26: ₹4,231.43 (FY25: ₹1,523.16)
  • Other Income: Q4 FY26: ₹4.30; FY26: ₹8.51 (FY25: ₹90.79)
  • Total Income: Q4 FY26: ₹1,189.77; FY26: ₹4,239.94 (FY25: ₹1,613.95)
  • Net Profit/(Loss) for the period: Q4 FY26: ₹167.28; FY26: ₹151.88 (FY25: ₹(329.08))
  • From continuing operations: Q4 FY26: ₹85.07; FY26: ₹136.55 (FY25: ₹89.54)
  • From discontinued operations: Q4 FY26: ₹82.21; FY26: ₹15.33 (FY25: ₹(418.61))

Earnings Per Share (of Rs. 10/- each)

  • Continuing operations - Basic: Q4 FY26: ₹0.17; FY26: ₹0.28 (FY25: ₹0.19)
  • Discontinued operations - Basic: Q4 FY26: ₹0.17; FY26: ₹0.03 (FY25: ₹(0.89))
  • Total - Basic: Q4 FY26: ₹0.34; FY26: ₹0.31 (FY25: ₹(0.70))

Balance Sheet Position as at March 31, 2026

  • Paid-up Equity Share Capital: ₹4,977.77 lakhs
  • Other Equity: ₹(6,801.58) lakhs
  • Total Equity: ₹(1,823.82) lakhs
  • Total Assets: ₹1,963.63 lakhs
  • Non-Current Liabilities: ₹803.37 lakhs
  • Current Liabilities: ₹2,984.08 lakhs

Cash Flow Statement for FY26

  • Net cash from operating activities: ₹201.07 lakhs
  • Net cash from investing activities: ₹(66.14) lakhs
  • Net cash from financing activities: ₹(148.49) lakhs
  • Net decrease in cash: ₹(13.56) lakhs
  • Cash and cash equivalents at end: ₹78.13 lakhs

Critical Notes to Financial Results

4. Going Concern Uncertainty

The entire networth of the Company has been eroded due to losses incurred in previous years, and current liabilities exceed current assets, indicating material uncertainty that may cast significant doubt on the Company's ability to continue as a going concern. The Company is committed to improving operational efficiency, boosting sales, reducing costs, and diversifying into supermarket stores operations. Management is confident that initiatives will yield positive net worth and sustainable cash flows in the near future.

5. Discontinued Operations

The Company has shutdown commissary units at:

  • Bangalore unit (effective October 12, 2022)
  • Mumbai unit (effective January 31, 2024)
  • Gurugram unit (effective September 30, 2024)

Profit/(loss) from the Commissary division has been shown as discontinued business operations. Fixed assets of this division are classified as held for sale.

6. Contingent Liability

Contingent liability amounting to ₹290.46 lakh relates to employees of closed Bangalore Commissary which is yet to be finalized. The Company has made a complete provision of ₹290.46 lakh for possible settlement.

10. Debtors Write-off

The Company wrote off ₹257.50 lakhs of debtors balances relating to discontinued business against existing doubtful debt provisions.

11. Creditors Write-back

The Company wrote back unclaimed creditors amounting to ₹82.16 lakhs including ₹50.52 lakhs towards MSME interest provisions relating to discontinued business based on management's assessment that they are no longer payable under the Limitation Act 1963.

12. Interest Waiver

The Company reversed interest provision pursuant to receipt of interest waiver letter from M/s. NU Business Ventures Private Limited. Unpaid accrued interest amounting to ₹53.39 lakhs on Inter Corporate Deposit for April 2025 to December 2025 was waived, and interest for January 1, 2026 to March 31, 2026 was also waived.

13. Company Name Change

The Company changed its name from Galaxy Cloud Kitchens Limited to Galaxy Supermarket Limited effective 12th January, 2026.

Audit Report Emphasis Matters

The Statutory Auditors highlighted four emphasis matters in their unmodified opinion:

1. Eroded net worth and current liabilities exceeding assets indicating going concern uncertainty

2. Discontinuation of commissary operations at Bangalore, Mumbai and Gurugram

3. Write-back of unclaimed creditors including MSME interest provisions without confirmation/waiver letters from parties

4. Write-back of interest provision on inter-corporate loan to related party based on waiver letter