Galaxy Cloud Kitchens Limited , a company specializing in food, beverages, and grocery products, has announced significant changes in its management and released its financial results for the quarter and half-year ended September 30, 2025. The company faces ongoing financial challenges but shows signs of operational restructuring.

New CFO Appointment

The Board of Directors has approved the appointment of Mr. Shashikant Sandbhor as the new Chief Financial Officer (CFO) and Key Managerial Personnel, effective November 13, 2025. Mr. Sandbhor brings 19 years of experience in accounts, audit, taxation, and finance. He holds a Bachelor's degree in Commerce and has completed the Executive/Inter Programme of the Institute of Company Secretaries of India (ICSI).

Financial Performance

Galaxy Cloud Kitchens reported the following financial results for the quarter ended September 30, 2025:

The company's revenue from operations has shown significant growth compared to the previous year. However, the net profit has been impacted by losses from discontinued operations.

Going Concern Issues

The auditor's review report highlighted material uncertainty regarding the company's ability to continue as a going concern. The entire net worth of the company has been eroded due to losses incurred in previous years, and current liabilities exceed current assets. Despite these challenges, management remains confident about future prospects, citing initiatives to boost sales, reduce costs, and diversify business activities into supermarket store operations.

Discontinued Operations

Galaxy Cloud Kitchens has discontinued operations from its Commissary Units in Bangalore, Mumbai, and Gurugram. The company has made necessary accounting provisions related to these closed-down business operations as per applicable accounting standards.

Contingent Liabilities

A contingent liability of Rs. 290.46 lakhs relates to employees of the closed Bangalore Commissary. The company has made a complete provision for this amount, anticipating a possible settlement.

Arbitration Settlement

The company has agreed to pay Rs. 5.81 lakhs in addition to old dues of Rs. 3.19 lakhs for the settlement of an arbitration matter. This includes the transfer of movable and immovable assets situated at Veerasandra Industrial Area, Bengaluru.

Audit Observations

The auditor's report noted several issues, including:

• Non-recognition of gratuity and leave encashment liability for the half-year ended September 30, 2025
• Computation of Earnings Per Share based on total shares outstanding instead of weighted average
• Non-identification of creditors under the Micro, Small and Medium Enterprises Development Act, 2006

Despite these challenges, Galaxy Cloud Kitchens is taking steps to improve its operational efficiency and financial position. The appointment of a new CFO and the focus on diversifying business activities indicate the company's efforts to navigate through its current financial difficulties.

Galaxy Cloud Kitchens Limited , a player in the cloud kitchen industry, has announced a significant change in its top management. Prince Singh, the company's Chief Financial Officer (CFO), has submitted his resignation, which will take effect at the close of business hours on November 7, 2025.

Resignation Details

Company's Response

The Board of Directors of Galaxy Cloud Kitchens Limited has acknowledged Singh's resignation and is taking steps to ensure a smooth transition. Key points regarding the company's response include:

• The Board will appoint a suitable replacement for the CFO position.
• The appointment process will adhere to the timeframe permitted under the Companies Act, 2013 and relevant listing regulations.
• The Nomination and Remuneration Committee will provide recommendations for the new CFO appointment.

This development comes at a time when many companies are experiencing shifts in their executive leadership. The company's commitment to finding a suitable replacement within the regulatory timeframe suggests a focus on maintaining continuity in its financial leadership.

Stakeholders of Galaxy Cloud Kitchens Limited will likely be watching closely for announcements regarding the new CFO appointment and any potential changes in the company's financial strategy that may follow this transition.