With reference to the captioned subject we hereby enclosing unaudited financial results for the quarter and half year ended September 30, 2025 along with its limited review report.
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Awaiting price reaction for this filing.
Galaxy Bearings Limited reported a loss of Rs. 2.15 crore in Q2 FY26 (ended September 30, 2025), swinging from a profit of Rs. 4.73 crore in the year-ago quarter. Revenue from operations dropped to Rs. 15.10 crore from about Rs. 26.73 crore in Q2 FY25, a decline of over 43%. For the first half of FY26, profit after tax collapsed to just Rs. 44 lakh from Rs. 8.05 crore in H1 FY25, a plunge of roughly 94%. The steep fall is largely due to the lingering impact of US OFAC sanctions placed on the company in October 2024 over alleged exports of dual-use goods to Russia, which has blocked its access to USD and EUR through official banking channels. The company incurred Rs. 5.59 crore in one-time legal/professional fees during H1 to seek removal from the sanctions list. The statutory auditor flagged this as an 'Emphasis of Matter' but otherwise issued an unmodified limited review report. The board also cleared the draft FY25 annual report, scheduled the 35th AGM for November 25, 2025 via video conferencing, and appointed Mrs. Bhumikaben Teli as the new Company Secretary.
Clearly negative for shareholders — a quarterly loss, a near-95% crash in half-yearly profits, and unresolved US sanctions that restrict foreign currency access and customer outreach. Investors should closely track the OFAC removal application outcome, as a successful delisting is critical to business normalisation.