Galaxy Bearings board approved the sale of industrial land parcels in Pune for a total consideration of ₹275 lakh. The transaction involves two separate tranches executed with unrelated buyers in September 2026.

The Board of Directors granted definitive approval during its meeting on September 15, 2026. This follows preliminary disclosures made on May 2, 2026, regarding the potential disposal of the asset located at Gat No. 1091, Sanaswadi.

Transaction Structure

The company will dispose of the land in separate tranches. The first tranche involves the sale of 6,100 sq. meters to BRK Infra Leasing LLP for ₹125 lakh. The sale deed execution is scheduled for September 17, 2026.

The second tranche covers 5,700 sq. meters sold to Treefac Works LLP for ₹150 lakh. The definitive sale deed for this portion is set for execution on September 24, 2026.

Regulatory and Operational Context

Both transactions are classified as non-related party deals. They do not fall under Section 188 of the Companies Act, 2013, or Regulation 23 of the SEBI (LODR) Regulations, 2015. Neither buyer belongs to the promoter group.

The land block is described as unutilized industrial land that does not contribute to operational revenue. Consequently, there is no turnover or net worth contribution impact from these assets. The remaining balance area of the land parcel will be executed in subsequent tranches, with updates filed upon finalization of terms.

Galaxy Bearings has scheduled its 36th Annual General Meeting (AGM) for Tuesday, September 22, 2026. The meeting will be held via Video Conferencing (VC) or Other Audio-Visual Means (OAVM) at 3:30 pm. Shareholders can access the FY26 Annual Report on the company website.

The company dispatched the notice to eligible shareholders electronically on August 27, 2026. This disclosure was made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and Section 91 of the Companies Act, 2013. The notice was also published in Western Times (English and Gujarati editions) on August 28, 2026.

Agenda Items

The AGM will transact ordinary and special business. Key resolutions include:

• Adoption of Audited Financial Statements for FY26 ended March 31, 2026.
• Re-appointment of Mr. Devang Maheshchandra Gor as a Non-Executive Director, retiring by rotation.
• Re-appointment of Mr. Bharatkumar Ghodasara as Whole-time Director for five years, including continuation after attaining age 70.
• Ratification of remuneration for cost auditors M/s. Mitesh Suvagiya & Co. for FY27.

Director Re-appointments

Mr. Bharatkumar Ghodasara seeks re-appointment as Whole-time Director from September 1, 2026 to August 31, 2031. His proposed remuneration includes a salary of ₹2,00,000 per month and perquisites not exceeding ₹5,00,000 per annum. The Board cited his extensive experience in the bearing industry and strategic leadership as justification for his continued tenure beyond age 70.

Mr. Devang Maheshchandra Gor, a Non-Executive Director, is due for retirement by rotation. He holds 1,00,602 equity shares directly and 2,70,000 shares indirectly. His re-appointment was recommended by the Nomination and Remuneration Committee.

E-Voting Details

Remote e-voting will commence on Saturday, September 19, 2026 at 9:00 am and end on Monday, September 21, 2026 at 5:00 pm. The cut-off date for determining voting eligibility is Tuesday, September 15, 2026. Members holding shares as on this date can cast their votes electronically via CDSL or NSDL platforms.

The company announced that the register of members and share transfer books will remain closed from Tuesday, September 15, 2026 to Tuesday, September 22, 2026, both days inclusive. This closure determines eligibility for the meeting and e-voting.

Members desirous of registering themselves as Speaker Shareholders for the AGM may send their request to investor@galaxybearings.com on or before Tuesday, September 15, 2026.