Galaxy Bearings FY26 net profit drops 76% to ₹33.1 crore
AI Market Summary
Galaxy Bearings' FY26 results showed a 76% drop in net profit alongside a sharp revenue contraction, driven by weak demand, higher finance costs, and elevated OFAC-related legal fees. However, its June 30, 2026 removal from the U.S. SDN list reduced legal expenses and supported a stronger Q1 FY27 profit despite lower sales, improving the outlook for normalized cross-border transactions.
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Galaxy Bearings’ FY26 net profit slumped 75.86% to ₹3.31 billion, while revenue fell 35.22% to ₹6.75 billion. Legal costs tied to an OFAC matter rose to ₹670 million from ₹214 million, and finance costs jumped 79.13%. The company was removed from the U.S. SDN list in June 2026, but total assets still declined to ₹13.95 billion.
