Outcome of Board Meeting held on 27th October, 2025
Price
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Awaiting price reaction for this filing.
Galaxy Agrico Exports Ltd's Board has approved the draft Slump Sale Agreement to sell its entire business undertaking — comprising manufacturing and trading of Agricultural Equipments and Bearings (Forged Rings) — to Forgex Rings Private Limited (FRPL), a non-related party. The business being divested accounts for 100% of the company's turnover, revenue, and net worth, making this effectively a full exit from its current operations. The deal is valued at Rs. 9.25 crores (excluding taxes), which represents a premium of Rs. 30 lakhs over the fair market value determined by an independent valuer. Members had already approved the slump sale via special resolution at the AGM on 29th September 2025. The agreement is expected to be signed within 15-20 days and completed by the end of Q4 FY25-26. The Board stated the current business is unprofitable and the sale proceeds will be redeployed into a new business line for future growth.
For shareholders, this is a major restructuring event — the company is selling its entire operating business, so post-completion Galaxy Agrico will essentially be left with cash to pursue a new business direction. The stock could see volatility given the company will be a non-operating entity temporarily, but the sale at a premium to fair value and clear strategic rationale (exiting a loss-making business) provides some comfort.