BSE: 526073
GALAXY BEARINGS LTD.
Manufactures bearings, classified under Industrial Products / Abrasives & Bearings, with FY26 revenue from operations of ₹6,751.10 lakhs, down from ₹10,421.86 lakhs in FY25. Profit after tax fell to ₹330.99 lakhs (FY25: ₹1,371.15 lakhs), weighed by a one-time ₹6.70 crore professional fee linked to OFAC delisting work. Materials account for 33.3% of revenue, employees 9.5%, other operating expenses 41.5% and depreciation 2.6%. The company was on the US Treasury OFAC SDN List from 30 October 2024 until removal on 30 June 2026, over alleged dual-use exports to Russia, which restricted access to USD and EUR banking channels during that period. It is evaluating the sale of its ~20,234 sq m industrial land at Sanaswadi, Pune, and has advanced ₹3.51 crore toward a ₹6 crore purchase of ~7,588 sq m of land at Shapar, Gujarat, for business purposes. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Bearings. Small, asset-heavy bearings manufacturer with active real-estate transactions
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · standalone | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 104 | 119 | 127 | 104 | 68 |
| EBITDA (ex other income) | 18 | 21 | 21 | 19 | 6 |
| margin % | 17.6 | 17.7 | 16.4 | 18.4 | 9.5 |
| Owners' profit | 13 | 16 | 19 | 14 | 3 |
| EPS, as reported (₹) | 41.78 | 50.14 | 59.26 | 43.12 | 10.41 |
| ROE % · ROCE % | 22.7 · 30.9 | 21.4 · 29.3 | 20.2 · 27.2 | 12.8 · 18.1 | 3.0 · 6.1 |
| Debt / equity (x) | 0.06 | 0.05 | 0.17 | 0.27 | 0.16 |
| Cash from operations | 2 | 24 | 5 | (2) | 20 |
| Capex | (2) | (14) | (16) | (6) | (5) |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 36 | 16 | 30 | 17 | 15 | 15 | 21 | 16 |
| Profit before tax | 7 | 2 | 6 | 3 | (2) | 2 | 1 | 4 |
| Net profit | 5 | 2 | 4 | 3 | (2) | 2 | 1 | 3 |
| EPS (₹) | 14.86 | 4.80 | 13.01 | 8.15 | (6.77) | 5.64 | 3.39 | 9.40 |
Exhibit 3: Peers — basic industry group, by market cap
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| TIMKEN INDIA LTD. | 21,206 | 63.8 | 7.28 | 31.6 | 14.2 | 18.4 | — | 20.0 |
| CARBORUNDUM UNIVERSAL LTD | 20,669 | 98.0 | 5.16 | 39.3 | 4.2 | 5.9 | 14.6 | 12.6 |
| GRINDWELL NORTON LIMITED | 20,594 | 38.8 | 8.08 | 30.8 | 16.3 | 20.7 | 13.4 | 22.6 |
| SKF IND (INDUSTRIAL) LTD | 11,964 | 91.3 | 8.10 | — | 14.7 | 14.9 | — | 10.1 |
| WENDT (INDIA) LIMITED | 1,368 | 80.8 | 5.39 | 35.7 | 5.7 | 8.9 | 11.6 | 17.6 |
| GALAXY BEARINGS LTD. ◆ | 318 | 85.8 | 2.89 | — | 3.0 | 4.1 | — | 29.7 |
| NRB INDUS. BEARINGS LTD. | 68 | — | — | — | 53.4 | (75.7) | 6.0 | (4.0) |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 85.8 | 17.6 | 313 of 337 | 7% |
| P/B | 2.9 | 1.9 | 207 of 316 | 34% |
| ROCE | 4.1 | 9.7 | 268 of 373 | 28% |
| ROE | 3.0 | 8.7 | 242 of 322 | 25% |
| Debt / Equity | 0.2 | 0.2 | 149 of 320 | 54% |
| EBITDA margin | 29.8 | 11.9 | 33 of 317 | 90% |
| Revenue growth | (5.5) | 13.7 | 240 of 311 | 23% |
| Profit growth | 15.3 | 25.5 | 183 of 314 | 42% |
| Market cap | 318 | 203 | 169 of 383 | 56% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 27 Oct 2026 · Galaxy Bearings publishes Q2 and half-year FY27 results | compliance | minimal | — | — |
| 26 Oct 2026 · Revenue up 53%, post-tax profit swings from loss; OFAC issue ends | results | high | — | — |
| 26 Oct 2026 · Q2 profit rebounds on higher sales; US sanctions proceedings end | board shareholder meetings | low | — | — |
| 19 Oct 2026 · Board meeting on Oct 26, 2026 to consider Q2/H1 FY27 results | results | low | — | — |
| 6 Oct 2026 · Monthly RTA report on physical share transfer and demat for September 2026 | compliance | minimal | — | — |
| 6 Oct 2026 · Quarterly Compliance Certificate under SEBI Regulation 74(5) | compliance | minimal | — | — |
| 3 Oct 2026 · Newspaper notice published on SEBI physical securities demat window | compliance | minimal | — | — |
| 25 Sept 2026 · Land sale Tranche 2 execution delayed; deal not cancelled | strategic transactions | high | — | — |
| 25 Sept 2026 · Insider Trading Window Closed Until Q2 FY26 Results Declared | compliance | minimal | — | — |
| 23 Sept 2026 · 36th AGM results: All 4 resolutions passed with over 99.99% approval | compliance | minimal | — | — |
How to read this document
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions | an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
Sources, method and disclosures
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.