Galaxy Agrico Exports has approved a sale agreement to transfer its entire manufacturing business of agricultural equipment and bearings to Forgex Rings for ₹9.25 crore. The move aims to refocus the company on new growth avenues following profitability concerns, with the sale expected to conclude by FY25-26's end.
Galaxy Agrico Exports Ltd., a renowned manufacturer and exporter in the agricultural, gardening, and industrial tools sector, has announced a strategic divestment of its entire agricultural equipment and bearings manufacturing business to Forgex Rings Private Limited for ₹9.25 crore. This move, approved by the company's board and shareholders, is part of a broader business restructuring plan aimed at diversifying its portfolio for growth.
The sale includes assets, liabilities, licenses, employees, and contracts involved in the manufacturing and trading of forged rings, which contributed 100% of Galaxy Agrico’s turnover last financial year. The company cited profitability concerns in its current business line as the primary reason for the divestment and intends to utilize the proceeds to develop new, potentially more profitable ventures.
Forgex Rings, a non-related entity based in Rajkot, Gujarat, will acquire the business, which is expected to be finalized by the end of FY25-26. This strategic shift marks Galaxy Agrico’s focus on exploring new opportunities in the industrial and chemical sectors, aligning with evolving market dynamics.
Key Highlights
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Sale of agricultural equipment & bearings business to Forgex Rings for ₹9.25 crore.
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Approved by Galaxy Agrico’s board and shareholders in late 2025.
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Business contributed fully to last year's revenue, now divested to pursue new ventures.
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Transaction includes assets, liabilities, licenses, and employees; expected completion by FY25-26 end.
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Sale reflects strategic move away from unprofitable segments towards diversified growth.
Sources: ScanX Trade, Bajaj Finserv, Galaxy Agrico official filings