Notice of 31st Annual General Meeting
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Awaiting price reaction for this filing.
Galaxy Agrico Exports has called its 31st AGM on September 29, 2025 at 4:00 PM at its registered office in Rajkot, Gujarat. The key item is the proposed slump sale of the company's entire operating business — manufacturing and trading of Agricultural Equipments and Bearings (Forged Rings) — to Forgex Rings Private Limited for a lump sum of INR 9.25 Crores (excluding taxes). This business currently contributes 100% of the company's revenue. The sale price is at a INR 30 lakh premium over the independent valuation of INR 8.95 Crores, with a SEBI-registered merchant banker confirming fairness. Proceeds are intended to fund a pivot into chemicals, petrochemicals, alkalis, acids, and related sectors (object clause already altered last year). Other items include adoption of FY25 audited results, reappointment of director Sanjay Jayantilal Patel (retiring by rotation), reappointment of statutory auditors H.B. Kalaria & Associates for two more years (till FY27), appointment of Ramesh Chandra Bagdi & Associates as secretarial auditor for five years (FY26–FY30), and increasing the company's borrowing and investment limits under Sections 180(1)(c) and 186 to INR 150 Crores each.
This is a major restructuring event — the company is selling its entire revenue-generating business and pivoting to a new sector (chemicals/petrochemicals), so shareholders should pay close attention to the slump sale resolution, which requires approval including a majority of public shareholders. The raised borrowing and investment ceilings (INR 150 Cr each) give the board significant flexibility to fund and execute the new business direction, which will determine the stock's future trajectory.