• The company that is primarily engaged in the manufacturing of agricultural, gardening and industrial tools and related equipments.
• It marked clumsy financial performances with many information missing from the offer document.
• It has kept silence on its performance and has not given any info on its financial data post March 2025.
• The counter is well maintained above the RI price to tempt investors.
• The RI is priced exorbitantly, and investors may skip it being high risk/low return bet.
ABOUT COMPANY:
Galaxy Agrico Exports Ltd. (GAEL) is a well-established player in the agricultural tools and equipment manufacturing sector. Founded with a mission to provide high-quality agricultural tools, the company has grown to become a prominent exporter of a wide range of products, including hand tools, agricultural implements, and other related items.
The Company specializes in the production of a diverse array of agricultural tools, such as hoes, sickles, pickaxes, spades, and more. The company’s product line is designed to meet the needs of farmers and agricultural workers globally, focusing on durability, ease of use, and efficiency. The company operates state-of-the-art manufacturing facilities equipped with modern machinery and technology. These facilities are designed to ensure high-quality production standards while maintaining cost efficiency. The Company emphasizes precision engineering and stringent quality control measures to produce tools that meet international standards. Quality is a cornerstone of Company operations. The company adheres to strict quality control protocols at every stage of production, from raw material inspection to the final product testing. The Company products are designed to withstand rigorous usage, and the company ensures that each item meets the required specifications before it reaches the market.
Currently, Galaxy Agrico Exports Limited, headquartered in Rajkot, focusing on the manufacturing and trading of agricultural. Gardening and industrial tools. The company, led by an experienced management team, capitalizes on extensive industry connections to facilitate transactions within Gujarat market. Engaging in bulk trading, the company maintains an offline presence, predominantly dealing with prominent merchants in the region. Transactions are executed with precision, leveraging the established network to streamline sourcing, trading, and distribution processes. The business strategy prioritizes localized operations, emphasizing relationships and efficiency within the Gujarat market. Compliance with organic certification standards ensures adherence to quality and ethical practices. GAEL’s market approach centers on reliability, transparency, and leveraging its Promoters’ industry experience to sustain a prominent position in the agro commodities trading sector. The company’s operations are oriented toward practicality, responsiveness to market demands, and maintaining a stronghold in the competitive Gujarat spices market. It has a total 19 employees on its role including 15 management staff.
ISSUE DETAILS:
The company is coming out with its Rights Issue (RI) of 13658100 equity shares of Rs. 10 each at a fixed price of Rs. 35.87 per share to mobilize Rs. 48.99 cr. The RI opens for subscription on February 02, 2026, and will close on February 11, 2026. The company is offering RI in the ratio of 5 for 1 to its eligible stakeholders as of the record date of January 23, 2026. The company is asking for full payment on application for the number of shares applied. Post allotment, RI shares will be listed on BSE. The company is spending Rs. 0.80 cr. for this RI process, and from the net proceeds, it will utilize Rs. 20.00 cr. for purchase of property for commercial purpose in Hyderabad, Rs. 10.00 cr. takeover of company for expansion plans, Rs. 6.20 cr. for working capital, Rs. 12.00 cr. for general corporate purposes.
The RI is solely lead managed by the company itself., and Purva Sharegistry (India) Pvt. Ltd. is the registrar to the issue.
Post-RI, company’s current paid-up equity capital of Rs. 2.73 cr. will stand enhanced to Rs. 16.39 cr. Based on the RI pricing, the company is looking for a market cap of Rs. 58.79 cr.
FINANCIAL PERFORMANCE:
On the financial performance front, for the last three fiscals, the company has posted total revenue / net profit/ -(loss), of Rs. 6.16 cr. / Rs. 1.45 cr. (FY23), Rs. 7.48 cr. / Rs. – (0.56) cr. (FY24), Rs. 3.84 cr. / Rs. 0.08 cr. (FY25). Surprisingly, there is no financial data available in the offer documents post April 2025 onwards. The company is issuing RI with the set of financial data for FY23, FY24, and FY25 only. There appears to be a deliberation of suppressing latest info.
DIVIDEND POLICY:
The company has not paid any dividends for the reported periods of the offer document. It will adopt a prudent dividend policy, based on its financial performance and future prospects.
SCRIP PERFORMANCE: BASED ON BSE WEBSITE DATA: SCRIP CODE: 531911 (FV Rs. 10).
The scrip last closed on cum-right basis at Rs. 51.45 on January 22, 2026, and opened on an ex-right basis at Rs. 36.56 on January 23, 2026. Since then, it has marked a high/low of Rs. 43.12 / Rs. 36.56. The scrip last closed at Rs. 43.12 as of January 30, 2026. For the last 52 weeks’ it has posted a high/low of Rs. 46.85 / Rs. 25.58. The counter is currently under GSM: Stage 2.
The promoters’ holding has marginally increased from 61.47% for Quarter ended June 30, 2025, to 65.22% for quarter ended December 31, 2025. The counter is well managed to keep it above RI price to tempt investors.
Conclusion / Investment Strategy
GAEL is primarily engaged in the manufacturing of agricultural, gardening and industrial tools and related equipments. It marked clumsy financial performances with many information missing from the offer document. It has kept silence on its performance and has not given any info on its financial data post March 2025. The counter is well maintained above the RI price to tempt investors. Six-fold jump in its post-RI equity base may face its servicing issue. The RI is priced exorbitantly, and investors may skip it being high risk/low return bet.
