Galaxy Agrico Exports Limited has announced a board meeting scheduled for January 19, 2026, to finalize the terms and conditions of its rights issue of equity shares. The meeting will determine crucial parameters for the previously authorized rights issue worth up to ₹49.00 crores.

Rights Issue Authorization and Approval Timeline

The rights issue process began with the board of directors' meeting held on November 29, 2024, where the board authorized a rights issue aggregating to an amount not exceeding ₹49.00 crores. Following this authorization, BSE Limited approved the Draft Letter of Offer on December 4, 2025, in accordance with the Companies Act, 2013, and the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018.

Key Decisions Expected from January 19 Meeting

The upcoming board meeting will address several critical aspects of the rights issue. The board will consider, discuss, and decide upon the terms and conditions and other related matters concerning the rights issue of equity shares. The meeting agenda includes determining the following parameters:

• Rights issue price determination
• Payment mechanism structure
• Final issue size within the authorized limit
• Rights entitlement ratio for existing shareholders
• Record date for rights eligibility
• Opening and closing dates of the issue

Additionally, the board will approve the Letter of Offer and other related documents in connection with the rights issue.

Trading Window Closure and Compliance

In compliance with the Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations, 2015, and other applicable laws, the company has implemented a trading window closure. The trading window for dealing in the company's securities has been closed and will remain closed until 48 hours after the outcome of the January 19, 2026 meeting is declared.

Regulatory Framework

The rights issue is being conducted in accordance with multiple regulatory frameworks including the Companies Act, 2013, and the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, as amended. The company has maintained compliance with all applicable laws throughout the process, from initial authorization to the current stage of finalizing terms and conditions.

Galaxy Agrico Exports Limited has delivered exceptional financial results for the third quarter ended December 31, 2025, reporting a net profit of ₹531.45 lakhs compared to a loss of ₹8.47 lakhs in the corresponding quarter of the previous year. The remarkable turnaround was primarily driven by an exceptional item worth ₹570.78 lakhs related to a strategic business transaction completed during the quarter.

Financial Performance Overview

The company's quarterly financial performance showed mixed operational trends alongside the exceptional gain:

The company's operational performance before exceptional items showed challenges, with expenses rising significantly to ₹114.43 lakhs from ₹80.42 lakhs in the previous year. Employee benefit expenses decreased to ₹19.06 lakhs from ₹31.07 lakhs, while other expenses increased substantially to ₹62.92 lakhs from ₹52.92 lakhs.

Strategic Business Divestiture

The exceptional financial performance stems from a major corporate restructuring initiative. On November 29, 2025, Galaxy Agrico Exports completed a slump sale of its existing business to Forgex Rings Pvt. Ltd. on a going concern basis for a total consideration of ₹9.25 crores. The company has indicated its intention to utilize these funds for establishing new business opportunities in the near future, maintaining its operations on a going concern basis.

Nine-Month Performance Analysis

For the nine months ended December 31, 2025, the company demonstrated strong overall performance:

Board Meeting Outcome and Leadership Changes

The Board of Directors meeting held on January 7, 2026, considered and approved the unaudited financial results for the quarter ended December 31, 2025. The meeting, which commenced at 2:30 PM and concluded at 3:30 PM, also addressed significant changes in board composition.

These changes are subject to shareholder approval at the ensuing general meeting and represent a significant restructuring of the company's executive leadership.

Earnings Per Share Performance

The company's earnings per share metrics reflected the exceptional performance, with basic and diluted EPS reaching ₹19.46 for Q3 FY26 compared to a loss of ₹0.31 per share in Q3 FY25. For the nine-month period, EPS improved dramatically to ₹18.26 from ₹0.21 in the corresponding period of the previous year.

Regulatory Compliance and Audit Review

The unaudited financial results were reviewed by the company's Audit Committee and approved by the Board of Directors. The statutory auditors, HB Kalaria & Associates, conducted a limited review of the results in accordance with Standard on Review Engagements (SRE) 2410. The auditors specifically highlighted the impact of the slump sale transaction in their review report, emphasizing its significance to the current reporting period's financial performance. The results were prepared in accordance with Indian Accounting Standards 34 "Interim Financial Reporting" prescribed under section 133 of The Companies Act, 2013.