Outcome of Board Meeting for Audited Financial Results for the year ended 31st March, 2026
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Galaxy Agrico Exports Ltd reported audited financial results for FY2026 with total income of Rs. 285.66 lakhs (down from Rs. 383.58 lakhs). However, profit after tax surged to Rs. 381.42 lakhs from Rs. 8.16 lakhs, largely driven by Rs. 524.69 lakhs in exceptional items from slump sales. EPS improved to Rs. 10.29 from Rs. 0.30. The company completed a rights issue of 1,36,58,100 shares at Rs. 35.87, raising Rs. 4720.17 lakhs with 96.35% subscription. Balance sheet expanded significantly with total assets growing from Rs. 634.67 lakhs to Rs. 5592.35 lakhs. Statutory auditor H.B. Kalaria & Associates resigned citing professional commitments and was replaced by M/s N K S C & Co effective June 1, 2026.
The company shows strong profit growth driven by asset sales (slump sales), while revenue declined. The substantial rights issue significantly strengthened the balance sheet. The auditor change during the year warrants monitoring for any governance concerns.