Latest news about Galaxy Bearings
US OFAC Removes Galaxy Bearings From Specially Designated Nationals And Blocked Persons List
Galaxy Bearings
900.05
+0.30(+0.03%)
Company Performance:
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6M+96.90%
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5Y+154.18%
More news about Galaxy Bearings
02May 26
Galaxy Bearings Limited Discloses Advance Payments of ₹3.51 Crore for Proposed Land Purchase in Gujarat
Galaxy Bearings Limited has disclosed advance payments totaling ₹3.51 crore made toward the proposed purchase of agricultural land in Gujarat. The total indicative consideration for the transaction is ₹6 crore, with the land measuring approximately 7,588 sq. meters situated at Village Shapar, Taluka Kotda Sangani, District Rajkot. The transaction remains at a preliminary stage, with no formal agreement executed yet, and is subject to due diligence, finalization of commercial terms, and applicable statutory approvals. The Board of Directors had authorized designated officials to explore and negotiate the transaction in December 2025.
02May 26
Galaxy Bearings Limited Reports FY26 Audited Results, Re-appoints Auditors
Galaxy Bearings Limited announced its audited financial results for the quarter and financial year ended March 31, 2026, following a Board meeting held on May 02, 2026. The company reported a total income of Rs. 6968.18 lakh for FY26, compared to Rs. 10674.65 lakh in the previous year. Revenue from operations stood at Rs. 6751.10 lakh, while other income amounted to Rs. 217.08 lakh. Profit after tax declined significantly to Rs. 330.99 lakh from Rs. 1371.15 lakh in FY25. Basic and diluted earnings per share for FY26 stood at Rs. 10.41, compared to Rs. 43.12 in the previous year. The Board re-appointed M/s. Mitesh Suvagiya & Co. as Cost Auditor and M/s. M N V Patel & Co LLP as Internal Auditor for FY26-27. The statutory auditors, M/s. J T Shah & Co., issued an audit report with an unmodified opinion. The company disclosed its designation on the SDN List by OFAC since October 30, 2024, which has impacted USD and EURO denominated transactions. The company incurred a significant non-recurring expenditure of Rs. 6.70 Crores towards professional fees for legal counsel seeking removal from the SDN List.
14Apr 26
Galaxy Bearings Limited Declares Non-Applicability of Large Corporate Framework for FY26
Galaxy Bearings Limited has declared to BSE that it does not qualify as a Large Corporate under SEBI framework for FY26, exempting it from enhanced disclosure requirements. The company reported outstanding borrowings of Rs. 18 crore as of March 31, 2026, with no credit rating during the previous financial year. The declaration was submitted on April 14, 2026, by Company Secretary Bhumika Teli and CFO Dixit Patel in compliance with SEBI circular requirements.
06Apr 26
Galaxy Bearings Limited Submits March 2026 Monthly Report on Physical Securities Transfer Under SEBI Guidelines
Galaxy Bearings Limited submitted its March 2026 monthly report to BSE Limited on April 6, 2026, detailing physical securities transfer activities under SEBI guidelines. The report shows 5 transfer requests were received during March 2026, with all requests being rejected and an average processing time of 12 days, as reported by RTA Alankit Assignments Limited.
06Apr 26
Galaxy Bearings Limited Publishes SEBI Special Window Notice for Physical Securities Transfer
Galaxy Bearings Limited published a public notice on April 4, 2026, in Western Times newspapers regarding SEBI's special window for transfer and dematerialisation of physical securities. The special window, open from February 5, 2026, to February 4, 2027, allows investors with transfer deeds executed prior to April 1, 2019, to submit requests through registrar Alankit Assignments Limited. Transferred securities will be credited in dematerialised form with a one-year lock-in period as per SEBI guidelines.
11Feb 26
Galaxy Bearings Completes Q3FY26 Results Publication Under Regulation 47
Galaxy Bearings Limited completed regulatory compliance by submitting newspaper publication documentation to BSE for Q3FY26 financial results under SEBI Regulation 47. The company reported improved profitability with net profit rising 17.50% to ₹179.25 lakhs despite revenue declining to ₹1,469.82 lakhs, while continuing to face challenges from OFAC sanctions.
03Feb 26
Galaxy Bearings Announces Special Window for Physical Share Transfer and Dematerialisation
Galaxy Bearings Limited has announced SEBI's special one-year window from February 5, 2026 to February 4, 2027 for transfer and dematerialisation of physical shares with transfer deeds executed before April 1, 2019. The initiative covers fresh lodgements and previously rejected transfer requests, with securities to be credited only in dematerialised form subject to a one-year lock-in period. Investors must submit requests through M/s Alankit Assignments Limited with requisite documentation as per SEBI guidelines.
27Oct 25
Galaxy Bearings Reports Q2 Loss, Grapples with US Sanctions, and Appoints New Company Secretary
Galaxy Bearings Limited reported a net loss of ₹6.77 lakhs in Q2 2025, compared to a profit of ₹8.15 lakhs in Q2 2024. Revenue decreased by 10.56% to ₹1,510.21 lakhs. The company's performance was significantly impacted by US sanctions imposed in October 2024. Galaxy Bearings incurred ₹25.59 crores in legal expenses to address the sanctions. The company appointed Mrs. Bhumikaben Mukeshbhai Teli as the new Company Secretary and Compliance Officer. The 35th AGM is scheduled for November 25, 2025.
08Aug 25
Galaxy Bearings Reports Q1 FY2026 Results Amid Ongoing US Sanctions Challenge
Galaxy Bearings Limited released unaudited Q1 FY2026 results, showing resilience despite US Treasury sanctions imposed in October 2024. The company reported revenue of Rs. 1,688.54 lakhs, net profit of Rs. 259.21 lakhs, and EPS of Rs. 8.15. Galaxy Bearings faced challenges accessing USD and EURO markets and potential disruptions to international operations due to sanctions. The company has engaged US legal counsel to request removal from the Specially Designated Nationals list, asserting unawareness of its products being associated with sanctioned entities.
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