Galaxeye Space Solutions Annual Reports, Balance Sheet & Financials

GalaxEye Space Solutions Private Limited Standalone Balance Sheet (Rs in Crores)

Particulars	31-03-2025	31-03-2024
Equity
Share capital	2.46	2.45
Reserves and surplus	92.30	17.82
Share Application Money Pending Allotment	-	1.06
Non-Current liabilities	-	-
Current liabilities
Trade payables	0.11	0.17
Other current liabilities	1.53	0.71
Short-term provisions	0.01	0.01
Total Equity and Liability	96.41	22.22
Non-current assets
Property, Plant and Equipment	0.10	0.03
Capital work-in-progress	42.39	17.91
Current assets
Current Investments	43.34	0.17
Trade receivables	0.25	-
Cash and cash equivalents	3.44	1.73
Other Current assets	6.88	2.38
Total Assets	96.41	22.22

 

GalaxEye Space Solutions Private Limited Standalone Profit & Loss Statement (Rs in Crores)

Particulars	31-03-2025	31-03-2024
Revenue from operations	0.92	0.03
Other income	1.09	0.21
Total Revenue	2.02	0.23
Expenses
Employee benefits expense	5.95	2.10
Finance costs	-	0.01
Depreciation and amortization expense	0.04	0.03
Other expenses	5.60	4.55
Total Expenses	11.59	6.69
Profit before tax	-9.57	-6.46
Tax expense	-	-
Profit/(Loss) for the period	-9.57	-6.46
Earnings per Equity Share
Basic	-9,120.32	-3,974.65
Diluted	-5,346.16	-3,974.65

 

GalaxEye Space Solutions Private Limited Standalone Cash Flow Statement (Rs in Crores)

 

Particulars	31-03-2025	31-03-2024
Cash flow from operating activities
Profit before tax	-9.57	-6.46
Adjustments for:
Depreciation and amortization	0.04	0.03
Operating profit before working capital changes	-9.53	-6.43
Movements in working capital:
Increase/(decrease) in trade payables	-0.07	-0.15
Increase/(decrease) in other liabilities and provisions	0.82	0.38
Decrease/(increase) in other Current assets	-4.75	-1.34
Net cash flow used in operating activities	-13.53	-7.53
Cash flows from investing activities
CWIP (Net)	-24.49	-16.29
Mutual Fund	-33.17	-0.17
Fixed Deposit	-10.00	-
Purchase of Asset	-0.11	-
Net cash flow from investing activities	-67.77	-16.46
Cash flows from financing activities	-	-
Proceeds from receipts of share application money (pending allotment)	-1.06	1.06
Share Premium receipts	84.06	-
Net cash flow used in financing activities	83.01	1.06
Net increase/(decrease) in cash and cash equivalents	1.72	-22.94
Cash and cash equivalents at the beginning of the year	1.73	24.66
Cash and cash equivalents at the end of the year	3.44	1.73

Summary of Cash Flow Statement for the years 2025 and 2024:

Cash Flow from Operating Activities

The company reported a net cash outflow from operating activities of ₹13.53 crore in FY2024–25, compared to an outflow of ₹7.53 crore in FY2023–24, indicating a significant increase in cash consumed by its core operations. The primary reason was the higher loss before tax of ₹9.57 crore, reflecting continued investment in business development and the absence of sufficient operating revenues to offset expenses. Although depreciation remained minimal at ₹0.04 crore, the operating loss before working capital changes increased to ₹9.53 crore. Additionally, a substantial increase in other current assets (₹4.75 crore) absorbed considerable cash, suggesting higher advances, receivables, or prepaid expenses. While an increase in other liabilities and provisions of ₹0.82 crore partially supported liquidity, it was insufficient to offset the operational cash drain. Overall, the operating cash flow indicates that the company is still in a growth phase and relies on external funding rather than internally generated cash.

 

Cash Flow from Investing Activities

The investing activities resulted in a net cash outflow of ₹67.77 crore during FY2024–25, a sharp increase from ₹16.46 crore in FY2023–24. This substantial outflow reflects the company's aggressive investment strategy aimed at strengthening its technological capabilities and future growth. The largest component was capital work-in-progress (CWIP) amounting to ₹24.49 crore, indicating significant investment in ongoing infrastructure, research, or development projects that are yet to become operational assets. The company also invested ₹33.17 crore in mutual funds, suggesting temporary deployment of surplus funds in liquid investment instruments for better returns. Furthermore, ₹10.00 crore was placed in fixed deposits, strengthening short-term treasury management, while ₹0.11 crore was utilised for the purchase of fixed assets. Although these investments resulted in heavy cash outflows, they represent strategic capital allocation rather than operational weakness and are expected to support future business expansion.

 

Cash Flow from Financing Activities

The financing activities generated a net cash inflow of ₹83.01 crore in FY2024–25, compared to a modest inflow of ₹1.06 crore in FY2023–24. This remarkable improvement was primarily driven by share premium receipts of ₹84.06 crore, indicating successful equity fundraising from investors. However, there was a net outflow of ₹1.06 crore relating to share application money pending allotment, which likely represents the adjustment or allotment of previously received application funds. The absence of borrowings or debt-related financing suggests that the company has primarily relied on equity financing to meet its funding requirements. This strong capital infusion significantly strengthened the company's liquidity position and enabled it to finance both operating losses and substantial investment activities without increasing financial leverage.

 

Net Change in Cash and Cash Equivalents

Despite significant cash outflows from operating and investing activities, the company reported a net increase in cash and cash equivalents of ₹1.72 crore during FY2024–25, reversing the decline of ₹22.94 crore recorded in the previous year. Consequently, the cash balance increased from ₹1.73 crore at the beginning of the year to ₹3.44 crore at the end of the year. This improvement was made possible by the substantial equity infusion received during the year, which more than compensated for the negative operating and investing cash flows. The increase in closing cash balance indicates that the company maintained adequate liquidity despite its expansionary spending and operating losses.

 

Financial ratios of GalaxEye Space Solutions Private Limited

 

Particulars	31-03-2025	31-03-2024
Current Ratio	32.65	4.77
Return on Equity Ratio	-0.10	-0.32
Trade Receivables Turnover Ratio	3.71	-
Net Capital Turnover Ratio	0.01	0.00
Return on Capital Employed	-0.10	-0.30
Return on Investment	0.01	0.03

 

Summary of Financial ratios for the year 2025 and 2024:

 

Current Ratio:
The current ratio increased significantly from 4.77 in FY 2023-24 to 32.65 in FY 2024-25, indicating a substantial improvement in the company's short-term liquidity position. This reflects a strong ability to meet current liabilities, primarily due to higher current assets relative to current obligations.

 

Return on Equity
The return on equity improved from -0.32 to -0.10, although it remained negative during the year. This indicates a reduction in losses attributable to shareholders' funds, reflecting an improvement in overall financial performance.

 

Trade Receivables Turnover Ratio
The trade receivables turnover ratio stood at 3.71 in FY 2024-25, while no comparable ratio was available for the previous year. The ratio indicates that the company collected its receivables approximately 3.71 times during the year, reflecting an efficient receivables management process.

 

Net Capital Turnover Ratio
The net capital turnover ratio improved marginally from 0.00 to 0.01. This indicates a slight enhancement in the company's ability to generate revenue from its working capital, although the utilisation remains relatively low.

 

Return on Capital Employed
The return on capital employed improved from -0.30 to -0.10, but continued to remain negative. This suggests that while the company reduced operating losses relative to the capital employed, it is yet to generate positive returns from its investments.

 

Return on Investment
The return on investment declined from 0.03 to 0.01 during the year. This indicates a lower return generated on investments compared to the previous year, though the ratio remained positive.