Gala Precision Engineering has signed a Memorandum of Understanding (MoU) to acquire approximately 10.16 acres of industrial land in Palghar, Maharashtra, for an aggregate consideration of ₹9 crore. The transaction is aimed at supporting the company's existing business operations and future expansion plans by facilitating the establishment of new manufacturing and operational facilities. The land is located at Village Vardha, Taluka Wada, and bears Gut Nos. 25, 29/2, 33/3 and 33/5.

Transaction Details

The acquisition involves a total consideration of ₹9 crore, with a token amount of ₹11,99,000 paid as per the terms of the MoU. The agreement was entered into with six sellers, including Shri Dilipsingh Analsingh Hira and Shri Surendrasingh Analsingh Hira, who are the legal heirs of the original landowners. The company confirmed that the sellers are not related parties, and the transaction does not fall within related party transactions.

Conditions and Timeline

The proposed acquisition is subject to the completion of title verification, legal and technical due diligence, and mutation formalities. Possession of the land will be handed over only upon the execution and registration of the final sale deed. The timeline for the execution of the final sale deed is proposed to be within the period agreed between the parties, contingent upon the fulfilment of these conditions precedent.

Gala Precision Engineering Limited has scheduled its 18th Annual General Meeting (AGM) for July 1, 2026, via video conferencing to approve the audited financial statements for the year ended March 31, 2026. The company reported a 32.12% increase in profit after tax (PAT) to ₹35.54 crores for FY26, driven by a 32.15% rise in revenue from operations to ₹314.30 crores. The meeting will also seek shareholder approval for the re-appointment of three independent directors and the ratification of the cost auditor's remuneration.

Financial Performance

The standalone revenue from operations grew to ₹314.30 crores in FY26 from ₹237.84 crores in the previous year. Standalone PAT rose to ₹35.54 crores from ₹26.90 crores. On a consolidated basis, revenue from operations matched the standalone figure at ₹314.30 crores, while PAT increased 32.14% to ₹35.48 crores from ₹26.85 crores. The Board of Directors has not recommended any dividend for the year.

Key financial ratios as at March 31, 2026, showed a current ratio of 3.42 and a debt-equity ratio of 0.12. The return on capital employed improved to 15.55% from 14.41% in the prior year.

Agenda for the 18th AGM

The AGM will be held on Wednesday, July 1, 2026, at 3:30 PM IST. Shareholders will vote on the re-appointment of Mr. Balkishan Jalan (DIN 02876873), Whole-time Director, who retires by rotation. Special resolutions have been proposed for the re-appointment of Ms. Neha Rajen Gada (DIN: 01642373) as an Independent Director for a second term of 3 years commencing from November 30, 2026, and Mr. Snehal Bhupendra Shah (DIN: 00128595) as an Independent Director for a second term of 5 years commencing from November 30, 2026. Additionally, Mr. Sudhir Tokarshi Gosar (DIN: 10460551) is proposed for re-appointment as an Independent Director for a second term of 3 years commencing from January 11, 2027.

An ordinary resolution seeks the ratification of remuneration for M/s. Shekhar Joshi & Co., Cost Auditors, at ₹100,000 per annum plus applicable taxes and out-of-pocket expenses for FY 2026-27.

E-Voting and Compliance

Remote e-voting facilities are available through MUFG Intime India Private Limited from June 27, 2026, to June 30, 2026. The cut-off date for determining voting eligibility is June 24, 2026. The statutory auditor, SCA & Associates, issued an unmodified opinion on the financial statements. The company operates in the Springs Technology and Special Fastening Solutions sectors and holds ISO 9001:2015, ISO 14001:2015, ISO 45001:2018, and IATF 16949 certifications.