Galaxy Bearings Limited (BSE Scrip Code: 526073) announced its unaudited standalone financial results for the quarter ended June 30, 2025. The company reported a profit after tax (PAT) of ₹259.21 lakh on total revenue of ₹1,944.18 lakh, which includes ₹1,688.54 lakh from operations.

Despite the ongoing challenge posed by sanctions imposed by the United States Department of Treasury’s Office of Foreign Assets Control (OFAC) in October 2024, Galaxy Bearings demonstrated operational resilience. The sanctions, stemming from the company’s alleged involvement in supplying technologies to Russia related to its military operations, have restricted the company's ability to access USD and Euro currencies through official market channels since the sanction date.

The company has submitted an application through its US-based legal counsel requesting expedited removal from the OFAC Specially Designated Nationals (SDN) List. This move is aimed at restoring normal trade operations and easing access to foreign currency markets.

The unaudited financial results were reviewed by J T Shah & Co., Chartered Accountants, who issued a limited review report stating that the financial statements are prepared according to Indian Accounting Standards (Ind AS 34) and contain no material misstatements. The audit firm emphasized the impact of OFAC sanctions as an area of note but did not modify their opinion.

Key Financial Highlights for Q1 FY26:

• Revenue from operations: ₹1,688.54 lakh

• Other income: ₹255.65 lakh

• Total expenses: ₹1,596.98 lakh

• Profit before tax: ₹347.21 lakh

• Profit after tax: ₹259.21 lakh

• Earnings per share (Basic and Diluted): ₹8.15 (face value ₹10 each)

The company continues to operate with prudence and is focusing on resolving sanctions issues while maintaining business continuity. The management and auditors have reassured stakeholders that the financial disclosures are accurate and in compliance with applicable regulations.

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