With reference to the Captioned Subject, We hereby inform that the board of Directors, in their Board Meeting held Today i.e.10th February,2026 at the registered office of the Company situated ....
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Galaxy Bearings' board met on February 10, 2026 and approved its unaudited standalone results for Q3 FY26 (quarter ended December 31, 2025). The company swung to a net loss of Rs. 215.21 lakhs in Q3 FY26, translating to a negative EPS of Rs. (6.77), compared to a profit of Rs. 223.26 lakhs in the preceding quarter (Q2 FY26). Revenue from operations was Rs. 1,469.82 lakhs, broadly flat year-on-year. For the nine months ended December 2025, net profit stood at Rs. 152.52 lakhs (EPS Rs. 4.80), a steep fall from Rs. 957.44 lakhs in the same period last year. The earnings hit is largely due to a one-time, non-recurring Rs. 5.9 Crores in legal/professional fees linked to the company's ongoing OFAC (US Treasury) sanctions matter, where it remains on the SDN List since October 30, 2024 over alleged dual-use exports to Russia, limiting its access to USD/EUR through official channels. A removal application has been filed via US-based legal counsel.
Near-term: heavy legal costs and restricted currency access continue to pressure earnings, with Q3 slipping into a loss. Stock price is likely to stay sensitive to news flow from the OFAC removal process — a favourable ruling would remove the legal cost overhang and restore access to global markets, while delays mean more drag on profitability.