Approval of unaudited Financial Results of the Company for the quarter ended 30th June 2025.
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On the reaction day the stock moved 1.9 pts more than Nifty Microcap 250 and 2.0 pts more than its Industrial Products peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Galaxy Agrico Exports' board approved unaudited Q1 FY26 results showing a net loss of Rs 12.01 lacs on total income of Rs 93.60 lacs, reversing last year's same-quarter profit of Rs 4.74 lacs. More importantly, the board approved selling the company's entire operating business — manufacturing and trading of Agricultural Equipments and Bearings (Forged Rings) — to Forgex Rings Private Limited on a slump sale basis for a lump-sum consideration of Rs 9.25 crore, which is above the independent valuation of Rs 8.95 crore. This business contributes 100% of the company's revenue (Rs 383.58 lacs in FY25) and has net assets of Rs 402.33 lacs. The sale is subject to shareholder approval via postal ballot and is expected to close in the last quarter of FY 2025-26. The auditor also flagged that the company has not maintained a fixed asset register and has not conducted physical verification of inventory.
This is effectively a sale of the company's entire core business, which will leave it as a shell entity pending use of sale proceeds. Shareholders should watch for the postal ballot outcome, post-sale capital allocation plans, and whether any distribution or reverse merger is proposed. Short-term, the weak Q1 results and audit control lapses add near-term uncertainty, though the sale price at a premium to valuation is a positive signal for shareholder value.