Galaxy Agrico Exports Ltd has approved the sale of its agricultural equipment and bearings business to Forgex Rings Pvt Ltd for ₹92.5 million. The move marks a strategic exit from its core operations, aimed at unlocking value and pivoting toward new business opportunities in FY2025–26.
In a significant strategic shift, Galaxy Agrico Exports Ltd has approved a slump sale of its entire manufacturing and trading business—comprising agricultural equipment and bearings—to Forgex Rings Private Limited for a total consideration of ₹92.5 million. The transaction includes the transfer of all assets, liabilities, licenses, contracts, and employees associated with the business.
The company cited profitability concerns and the need to diversify into new business lines as the rationale behind the sale. Notably, the divested unit contributed 100% of Galaxy Agrico’s turnover in the previous financial year. The deal value exceeds the independent valuation of ₹89.5 million and is expected to be completed by the end of FY2025–26.
Key Highlights:
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Sale Value: ₹92.5 million via slump sale to Forgex Rings Pvt Ltd
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Business Scope: Includes all assets, liabilities, and employees of the agri-equipment and bearings division
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Strategic Rationale: Exit from core business to explore new growth avenues
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Valuation Premium: Sale price exceeds independent valuation of ₹89.5 million
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Completion Timeline: Expected by Q4 FY2025–26
This move signals a bold pivot for Galaxy Agrico as it seeks to redefine its business model and unlock shareholder value.
Sources: ScanX News, Dhan, Screener