In reference to captioned subject, we hereby inform you that the Board of Directors of the Company, in their Board Meeting held today i.e. Monday, October 27,2025, at the registered office ....
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Galaxy Bearings Limited's Board, which met on October 27, 2025, approved the unaudited financial results for Q2 FY26 and H1 FY26 (quarter and half-year ended September 30, 2025). Revenue from operations for Q2 FY26 stood at Rs. 1,510.21 lakhs, a sharp drop of about 58% compared to Rs. 3,593.73 lakhs in Q2 FY25. The company reported a loss before tax of Rs. 243.46 lakhs in Q2 FY26, with Basic EPS at Rs. -6.77. A major drag was Rs. 5.59 crores in non-recurring professional fees related to the US OFAC sanctions, under which the company remains on the SDN list and cannot access USD/EURO through official channels. The Board adopted the FY25 Directors' Report and scheduled the 35th AGM for November 25, 2025 via video conferencing. Mrs. Bhumikaben Mukeshbhai Teli was appointed as the new Company Secretary and Compliance Officer effective October 27, 2025. Instameet was named as the remote e-voting agency and M/s. Jignesh Kotodiya & Co. as scrutinizer for the AGM.
The continuing US OFAC sanctions remain the biggest overhang, severely restricting export earnings and weighing on quarterly profitability. Until the OFAC delisting application succeeds, revenue and earnings recovery will be difficult. Shareholders should monitor AGM updates closely, as removal from the SDN list is the single most important catalyst for the stock.