Galaxy Agrico Exports has executed a Business Transfer Agreement with Forgex Rings Private Limited on November 29, 2025, for the sale and transfer of its manufacturing and trading business of Agricultural Equipment and Bearings as a going concern on slump sale basis. This development follows the company's earlier announcement of a board meeting scheduled for October 27, 2025, to approve a draft Slump Sale Agreement.

Key Details of the Transaction

Understanding the Slump Sale

A slump sale is a transfer of one or more undertakings as a result of the sale for a lump sum consideration without values being assigned to individual assets and liabilities. In this case, Galaxy Agrico Exports has agreed to transfer its entire agricultural equipment and bearings manufacturing and trading business to Forgex Rings Private Limited as a going concern.

Implications and Next Steps

The execution of this Business Transfer Agreement marks a significant milestone in Galaxy Agrico Exports' strategic restructuring. The company has moved from the planning stage to the implementation of its business transfer strategy.

This strategic move may allow Galaxy Agrico Exports to streamline its operations and focus on core competencies. However, the full impact of this transaction on the company's future operations and financial position will become clearer as more details of the agreement are disclosed.

Shareholder Approval

The member approval for this transaction was obtained through a Special Resolution passed at the Annual General Meeting held on September 29, 2025. This demonstrates that the company has followed proper corporate governance procedures in executing this business decision.

Regulatory Compliance

The company has made this disclosure in compliance with Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, demonstrating its commitment to transparent communication with shareholders and the market.

As this corporate action progresses, market participants may be interested in understanding the valuation of the deal and its strategic rationale, which may be revealed in subsequent communications from Galaxy Agrico Exports. Investors and stakeholders should continue to monitor further announcements from the company regarding the implementation of this agreement and its potential impact on the company's business strategy and financial outlook.

Galaxy Agrico Exports has announced a significant change in its upcoming board meeting, rescheduling it to August 11, 2025. The company's board of directors is set to convene to discuss and potentially approve a major business transaction, among other important matters.

Potential Business Sale

The primary focus of the meeting will be to consider the sale and transfer of Galaxy Agrico's agricultural equipment and bearings manufacturing and trading business. The proposed transaction would involve selling the business as a going concern on a slump sale basis to Forgex Rings Private Limited, a non-related entity.

According to the company's disclosure, this potential sale would include:

• The entire business undertaking of manufacturing and trading activity of Agricultural Equipments and Bearings (Forged Rings)
• Balance of plant
• Respective assets and liabilities
• Concerned licenses, consents, and approvals
• Employees and contracts

It's important to note that this transaction, if approved by the board, would still require approval from the company's members and potentially other necessary approvals.

Additional Agenda Items

Besides the potential business sale, the board meeting will address several other crucial matters:

1. Review and approval of the Annual Report for the financial year 2024-25
2. Fixing the date for the Annual General Meeting (AGM) for 2024-25
3. Approval of the appointment of Ramesh Chandra Bagdi & Associates as the company's secretarial auditor
4. Review and approval of unaudited financial results for the quarter ended June 30, 2025

Transparency and Compliance

In line with regulatory requirements, Galaxy Agrico Export Ltd has stated that it will provide an update on the meeting's outcome immediately after its conclusion. This commitment to transparency aligns with the Securities and Exchange Board of India (SEBI) Listing Obligations and Disclosure Requirements Regulations, 2015.

Investors and stakeholders will be keenly watching for the results of this crucial board meeting, particularly regarding the potential business sale, which could significantly impact the company's future direction and operations.