Gala Global Products Limited convened an Extra-Ordinary General Meeting (EGM) on May 7, 2026, through Video Conferencing (VC), to seek shareholder approval for the initiation of insolvency resolution proceedings under the Insolvency and Bankruptcy Code, 2016. The meeting was held pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and was attended by a total of 47 members. Following the conclusion of the EGM, the company disclosed the voting results and scrutinizer's report pursuant to Regulation 30 and 44(3) of the SEBI Listing Regulations, confirming that the Special Resolution was duly passed with the requisite majority.

EGM Overview

The meeting was chaired by Mr. Vishal Mulchandbhai Gala, Director of the Company, and was welcomed and facilitated by Ms. Vandana Arun Baldi, Company Secretary. The EGM notice was dispatched electronically to all shareholders on April 15, 2026, through the National Securities Depository Limited (NSDL), with the cut-off date for shareholder eligibility set at May 1, 2026. As the meeting was conducted through VC, attendance via proxies was not permitted.

Key details of the EGM proceedings are summarised below:

Agenda: Insolvency Resolution Process Approval

The sole agenda item placed before shareholders for approval was the initiation of a Pre-Packaged Insolvency Resolution Process (PPIRP) / Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code, 2016. The resolution was classified as a Special Resolution, with promoters and promoter group having no interest in the agenda. The Chairman informed attendees that the consolidated results of remote e-voting and e-voting conducted during the EGM would be declared shortly after the meeting's conclusion and subsequently uploaded to the stock exchanges, NSDL, and the company's website.

E-Voting Process

The company facilitated both remote e-voting and e-voting during the EGM through NSDL. The voting process was governed by the following key parameters:

• Remote e-voting period: Monday, May 4, 2026, from 09:00 A.M. (IST) to Wednesday, May 6, 2026, at 05:00 P.M. (IST)
• Eligibility: Shareholders holding shares as on the cut-off date of May 1, 2026
• E-voting during EGM: Available to shareholders present at the meeting, within 15 minutes from the conclusion of the meeting
• Voting by show of hands: Not permitted
• Shareholders who voted via remote e-voting were requested to abstain from the e-voting process during the EGM

Mr. Sachin Thakkar of M/s Sachin Thakkar and Associates, Practicing Company Secretaries, was appointed as Scrutinizer for both remote e-voting and e-voting during the meeting. The votes cast electronically were unblocked on May 7, 2026, after the conclusion of the EGM, and were witnessed by two independent witnesses, Ms. Hetashri Mehta and Mr. Chetan Prajapati, who were not in the employment of the company or its Registrar and Transfer Agent.

Voting Results

Based on the Scrutinizer's report, the Special Resolution was passed with the requisite majority. A total of 2,64,954 votes were polled out of 5,45,88,083 shares held, representing 0.49% of outstanding shares. The breakdown of votes in favour and against the resolution is presented below:

Votes in Favour of the Resolution:

Votes Against the Resolution:

Category-wise Voting Breakdown

The detailed category-wise voting results pursuant to Regulation 44 of the SEBI Listing Regulations are as follows:

The promoter and promoter group cast 79,000 votes entirely in favour of the resolution, representing a 100.00% approval from this category. Among public non-institutional shareholders, 1,78,784 votes were cast in favour against 7,170 votes against, translating to 96.14% approval within this category.

Board Attendance

The meeting was attended by all Directors of the Company, with the exception of Vipul Laxmichand Maru (Independent Director) and Yagnik Kishorbhai Movaliya (Independent Director). The proceedings and voting results were signed off by Director Vishal Mulchandbhai Gala (DIN: 00692090) on behalf of Gala Global Products Limited. The electronic data and all other relevant records relating to remote e-voting and electronic voting conducted at the EGM are under the Scrutinizer's safe custody and will be handed over to the Company Secretary/Chairman for preservation after the minutes of the EGM are approved and signed.

Gala Global Products Limited filed revised unaudited standalone financial results for the quarter and nine months ended December 31, 2025, with BSE on April 29, 2026. The revised submission was made in response to a discrepancy communication received from the exchange dated March 5, 2026, under Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Rectification Details

The company addressed two key points raised by BSE in its discrepancy notice. First, the results were revised to strictly adhere to the Schedule III format of the Companies Act, 2013, which included the addition of the Other Comprehensive Income (OCI) section. Since OCI for the reported period is Nil, the figures in this section are reported as zero. Second, the company clarified that the number of columns and their presentation were already in accordance with SEBI Regulations and Schedule III requirements, and these have been maintained in the revised filing for consistency.

Quarterly Financial Performance

The revised results reflect a deterioration in profitability compared to the year-ago quarter. The company reported a net loss from continuing operations for the quarter ended December 31, 2025, compared to a net profit in the same period of the prior year. The following table presents the key financial metrics across reported periods (Amount in Rs Lakhs):

Nine-Month Performance

For the nine months ended December 31, 2025 (Year Till Date), the company reported a net loss of Rs 274.61 lakhs on revenue from operations of Rs 1,835.41 lakhs. This compares to a net profit of Rs 144.91 lakhs on revenue from operations of Rs 2,234.22 lakhs for the corresponding nine-month period ended December 31, 2024. The following table provides a comparative overview of the year-till-date and full-year figures (Amount in Rs Lakhs):

Key Expense and Capital Details

Among the major expense line items for Q3 FY26, the cost of materials consumed stood at Rs 843.48 lakhs, while finance costs were Rs 23.87 lakhs and depreciation and amortization expenses were Rs 6.37 lakhs. The paid-up equity share capital remained unchanged at Rs 2,729.40 lakhs across all reported periods, with a face value of Rs 5.00 per share. Other Comprehensive Income was Nil across all periods, resulting in total comprehensive income being equal to the net profit/(loss) for each respective period.

Auditor's Review

The revised financial results were reviewed by R. B. Gohil & Co., Chartered Accountants (ICAI Firm Registration Number: 119360W), with the review report dated February 13, 2026, signed by CA Raghubha B. Gohil (Membership No. 104997) at Jamnagar. The auditors conducted their review in accordance with Standard on Review Engagements (SRE) 2410 and stated that nothing came to their attention that causes them to believe the accompanying statement contains any material misstatement or has not disclosed the information required under the Listing Regulations. The revised results were signed by Prahlad Kumar Agarwal, Managing Director (DIN: 09851691), and filed from Ahmedabad on April 29, 2026.