Galaxy Cloud Kitchens Ltd

Q1 June 30, 2026 results

• Revenue from operations: Rs 1,222.62 Lakhs for the quarter.
• Total income from operations: Rs 1,222.88 Lakhs.
• Total expenses: Rs 1,266.43 Lakhs.
• PBT before tax: Rs -43.54 Lakhs.
• Net profit from continuing operations: Rs -43.54 Lakhs.
• Net profit from discontinued operations: Rs -2.44 Lakhs.
• Net profit for the period: Rs -45.99 Lakhs.
• EPS (continuing operations) basic: Rs -0.09.
• EPS (continuing operations) diluted: Rs -0.09.
• EPS (continuing & discontinued): Rs -0.09.
• Name change to Galaxy Supermarket Limited effective 12 Jan 2026.
• Single active segment: Dealing and Trading in Food, Beverages & Grocery.
• Going concern basis; management targets improved sales and cash flows.
• Closed Bengaluru, Andheri (Mumbai) commissaries; discontinued operations reflected.
• Contingent liability Rs 290.46 Lakhs; full provision recognised for Bengaluru employees.

Meeting Details

• Board meeting scheduled for 14 August 2026; time and venue not disclosed.

Key Agenda Items

• Consider and approve unaudited financial results for the quarter ended 30 June 2026.

Other Notes

• Trading window closed for designated persons and immediate relatives until 48 hours after 14 Aug 2026 results.

Dematerialisation processing status

• Dematerialisation requests processed; securities confirmed to depositories.
• Securities dematerialised were listed on the exchanges where previously listed.
• Physical certificates for dematerialisation mutilated and cancelled after verification; depository name substituted as registered owner within prescribed timelines.

Meeting Details

• Board meeting scheduled for 22 May 2026.
• Meeting time and location were not disclosed.

Key Agenda Items

• Approve audited financial results for quarter and year ended 31 March 2026.

Other Notes

• Trading window closed from 1 April 2026 until 48 hours after results announcement.

Financial Performance 📊

• Q3 FY26 revenue from operations was Rs 923 lakh, down 13% YoY and QoQ.
• Q3 FY26 total income was Rs 927 lakh versus Rs 1,062 lakh in Q2 FY26.
• Q3 FY26 EBITDA loss was Rs 60.4 lakh versus Q2 FY26 profit of Rs 25.35 lakh.
• Q3 FY26 net loss after tax was Rs 61.21 lakh versus Q2 FY26 net profit of Rs 1.49 lakh.
• Nine-month FY26 revenue was Rs 3,046 lakh, up from Rs 986 lakh year ago.
• Nine-month FY26 net profit was Rs 51.48 lakh versus prior year loss of Rs 240.45 lakh.
• EPS for Q3 FY26 was negative Rs 0.12 (basic and diluted).

Risks & Accounting Notes ⚠️

• Entire net worth eroded; current liabilities exceed current assets, raising going concern doubts.
• Contingent liability of Rs 290.46 lakh for closed Bangalore commissary employee settlements fully provided.
• No provision made for gratuity and leave encashment liabilities, understating expenses and liabilities.
• EPS computed using total shares outstanding, not weighted average, deviating from Ind AS 33.
• MSMED Act creditors not identified; interest on delayed payments not provided, impact unknown.
• Rs 50 lakh advance receipt disputed in NCLT; no provision or contingent liability disclosed.

Operations & Segment 🗒️

• Company closed commissary units in Bengaluru, Mumbai, and Gurugram; losses classified as discontinued operations.
• Company has one active segment: dealing and trading in food, beverages, and grocery products.

Audit & Reporting 🧾

• Financials prepared on going concern basis; management confident of returning to positive net worth.
• Auditor’s review report unqualified but highlighted going concern uncertainty and accounting deviations.

Financial Performance 📊

• Board approved unaudited standalone financial results for quarter ended December 31, 2025, with limited review.
• Company reported net loss of Rs. 61.21 lakh for the quarter ended December 31, 2025.
• Net worth fully eroded; current liabilities exceed current assets, indicating material uncertainty on going concern.

Operations and Provisions 📍

• Company closed commissary units in Bangalore, Mumbai, and Gurugram; operations classified as discontinued.
• Provision of Rs. 290.46 lakh made for contingent liability related to employees of closed Bangalore commissary.

Auditor Remarks ⚠️

• Auditor noted no material misstatements but highlighted going concern uncertainty and discontinued operations.
• Auditor noted non-recognition of gratuity and leave encashment provisions under Ind AS 19, understating liabilities.
• Earnings per share computed on total shares outstanding, not weighted average, possibly non-compliant with Ind AS 33.

Legal and Compliance ⚖️

• Company has not identified MSME creditors or provided interest for delayed payments under MSMED Act; impact unknown.
• Legal dispute ongoing over Rs. 50 lakh advance adjusted as bad debt; no provision or contingent liability disclosed.