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Galaxy Surfactants Results: Latest Quarterly Results & Analysis

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Galaxy Surfactants Ltd. 13 Nov 2025 12:37 PM
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Q2FY26 Quarterly Result Announced for Galaxy Surfactants Ltd.

Specialty Chemicals company Galaxy Surfactants announced Q2FY26 results

  • Total Revenue: Rs 1,332.0 crore against Rs 1,071.7 crore during Q2FY25, change 24.3%.
  • EBITDA: Rs 116.3 crore against Rs 136.3 crore during Q2FY25, change -14.7%.
  • EBITDA Margin: 8.7% for Q2FY26.
  • PAT: Rs 66.5 crore against Rs 84.7 crore during Q2FY25, change -21.5%.
  • PAT Margin: 5.0% for Q2FY26.
  • EPS: Rs 18.75 for Q2FY26.

K. Natarajan, Managing Director, Galaxy Surfactants, said: “Q2FY26 volumes remained broadly flat on both YoY and QoQ basis, reflecting short-term turbulence across markets. Specialty segment delivered strong double-digit growth, offsetting a higher single-digit decline in the Performance segment.

India’s domestic performance faced temporary headwinds, with volumes flat YoY and QoQ. The GST rate reduction on FMCG products triggered inventory recalibration by large players while elevated feedstock prices led reformulation by some customers, also contributing to a volume drop in the Performance segment. Despite this, Non-Tier 1 customers posted robust growth YoY and QoQ, cushioning the softness among Tier-1 customers. We remain confident that GST reforms will unlock medium-term consumption upside.

In AMET, volumes declined modestly—single digit QoQ and higher single digit YoY—driven by Tier-1 share erosion in Egypt amid intensified local competition.

The Rest-of-World segment sustained its growth trajectory, led by LATAM and APAC with double-digit YoY gains across both Performance and Specialty segments. North America faced pressure from reciprocal tariffs impacting specialty care margins, particularly in the masstige segment, though prestige products from Tri-K continued to perform well.

Supply-side conditions showed mixed trends. Freight costs eased, but shipment delays persisted due to port congestion and blank sailings. Raw material availability improved slightly, yet feedstock prices remained elevated, driven by lower-than-expected Palm Kernel Oil output.

As we navigate through a challenging environment and work to strengthen our market position, sharpening our strategic focus will be critical. This includes implementing tactical adjustments, enhancing operational agility, and fortifying our portfolio to ensure resilience and sustained relevance in an evolving market landscape.”

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Specialty Chemicals company Galaxy Surfactants announced Q1FY26 results

  • Total Revenue: Rs 1,289.2 crore compared to Rs 979.5 crore during Q1FY25, change 31.6%.
  • EBITDA: Rs 135.1 crore compared to Rs 129.5 crore during Q1FY25, change 4.3%
  • EBITDA Margin: 10.5% for Q1FY26.
  • PAT: Rs 79.5 crore compared to Rs 79.7 crore during Q1FY25, change -0.3%.
  • PAT Margin: 6.2% for Q1FY26.

K. Natarajan, Managing Director, Galaxy Surfactants, said: “Q1FY26 Volume grew at 5% YoY and nearly double-digit sequential growth across both performance and speciality care segments, reflecting a sign of improvement across all regions.

India’s domestic performance reflects a market in transition and evolution, with flat YoY and double-digit QoQ volume growth. Strategic product adjustments in response to multinational shifts, coupled with favourable macro factors such as a good monsoon, rate cuts, and rural stimulus, support a cautiously optimistic outlook.

In AMET, while Egypt and Turkey faced headwinds, resilience in the Gulf and Sub-Saharan markets helped maintain momentum. Our supply chains adapted swiftly despite geopolitical tensions, ensuring continuity and responsiveness.

ROW region led growth with a strong 16% YoY increase, driven by LATAM and APAC, while Europe delivered a richer product mix aligned with our Vision 2030. Supply-side challenges persisted with tight raw material availability and regional congestion, but price pass-through mechanisms and inventory vigilance helped mitigate the impact.

As we reaffirm our long-term strategy, we remain focused on innovation, agility, and sustainability, confident in our ability to navigate current complexities and deliver enduring value to all stakeholders.”

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Specialty Chemicals company Galaxy Surfactants announced Q4FY25 & FY25 results

Q4FY25 Financial Highlights:

  • Total Revenue stood at Rs 1,152.7 crore compared to Rs 952.9 crore in Q4FY24, registering a growth of 21.0%.
  • EBITDA was Rs 134.7 crore compared to Rs 125.6 crore in Q4FY24, recording an increase of 7.3%.
  • EBITDA Margin was 11.7% compared to 13.2% in Q4FY24, reflecting a decline.
  • PAT stood at Rs 75.9 crore compared to Rs 77.5 crore in Q4FY24, showing a decrease of 2.1%.
  • PAT Margin was 6.6% compared to 8.1% in Q4FY24, indicating a decline.

FY25 Financial Highlights:

  • Total Revenue was Rs 4,249.5 crore compared to Rs 3,829.8 crore in FY24, marking an increase of 11.0%.
  • EBITDA stood at Rs 510.0 crore compared to Rs 497.7 crore in FY24, reflecting a growth of 2.5%.
  • EBITDA Margin was 12.0% compared to 13.0% in FY24, showing a decline.
  • PAT stood at Rs 304.9 crore compared to Rs 301.5 crore in FY24, registering an increase of 1.1%.
  • PAT Margin was 7.2% compared to 7.9% in FY24, indicating a decrease.

Commenting on the performance K. Natarajan, Managing Director, Galaxy Surfactants, “Q4FY25 has been mixed quarter for us,, with India continuing to face headwinds. The anticipated recovery in demand remained elusive, impacted by the lingering effects of the previous quarter’s slowdown and a sharp rise in fatty alcohol prices from Q2 onwards.

The AMET region also remained flat. However, early signs of stabilization in demand and easing supply chain constraints make us cautiously optimistic. We are proactively strengthening our presence to capture emerging opportunities as the region stabilizes.

ROW continued to be the bright spot and delivered a strong performance for Q4 and FY25. This reflects our strategic focus on expanding our global footprint and meeting the growing demand for masstige specialties, particularly in Europe, APAC, North America, and Latin America. We registered volume growth of 9% and 17% for Q4FY25 and FY25, respectively.

Key Highlights for Q4FY25 were EBITDA/MT stood at Rs 21,715, marking a 24% increase on QoQ. For FY25, EBITDA/MT stood at Rs 19,868, broadly in line with FY24 levels. Despite market volatility, this reflects our continued focus on operational efficiency and cost optimisation.

For India, encouraging macro indicators ahead, such as easing inflation, declining interest rates, and supportive fiscal measures,set the stage for a potential revival. On the supply side, fatty alcohol prices are expected to remain elevated for at least one more quarter. International logistics continue to face disruptions due to factors like the postponement of reciprocal tariffs by the USA and Congestion in key regions such as Europe, China, and Southeast Asia, which is impacting both export and import shipments.

Despite these ongoing challenges, we are actively working to mitigate the impact on our operations by, engaging with multiple suppliers, and exploring alternative sourcing options. We remain committed to navigating this dynamic environment with agility and resilience, ensuring we continue delivering value to our stakeholders.”

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Specialty Chemicals company Galaxy Surfactants announced Q3FY25 results

  • Total Revenue: Rs 1,045.7 crore compared to Rs 946.9 crore during Q3FY24, change 10.4%.
  • EBITDA: Rs 109.5 crore compared to Rs 118.9 crore during Q3FY24, change -7.8%.
  • EBITDA margin: 10.5% for Q3FY25.
  • PAT: Rs 64.6 crore compared to Rs 71.4 crore during Q3FY24, change -9.5%.
  • PAT margin: 6.2% for Q3FY25.

K. Natarajan, Managing Director, Galaxy Surfactants, said: “Q3FY25 has been a slow quarter for us primarily impacted by the slowdown in India. While the festive season failed to reignite demand in India, an improving supply chain scenario supported by a stable inflationary environment ensured QoQ improvement in our AMET Volumes. Despite seasonal holidays, demand momentum remained strong in ROW markets.

At first glance, the quarter may appear weak, due to the decline in EBITDA/MT, which stood at Rs 19,269/MT for 9MFY25. However, multiple steps have been taken to ensure improvement going ahead. From new product launches to pick up in premium specialties, we strongly believe the groundwork laid over the last 2 years will yield positive results.

While Q4FY25 mayremain muted given India's cyclical slowdown, there is a strong probability of demand improving from Q1FY26. Despite the current pessimism, we remain confident this is a blip and that the structural growth story remains intact”

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Specialty Chemicals company Galaxy Surfactants announced Q2FY25 results

  • Total Revenue: Rs 1,071.7 crore compared to Rs 985.8 crore during Q2FY24, change 8.7%.
  • EBITDA: Rs 136.3 crore compared to Rs 127.6 crore during Q2FY24, change 6.9%.
  • EBITDA Margin: 12.7% for Q2FY25.
  • PAT: Rs 84.7 crore compared to Rs 77.4 crore during Q2FY24, change 9.4%.
  • PAT margin: 7.9% for Q2FY25.

K. Natarajan, Managing Director, Galaxy Surfactants, said: “Q2FY25 was a mixed quarter for us. While this Quarter has seen sequential Volume growth as well as YoY mid single digit volume growth driven primarily by our Specialty Care products; a slowdown in India remains an area of concern. The significant uptick in raw material prices combined with supply chain challenges did disturb momentum in this quarter and remains a major risk going ahead. While EBITDA/MT came in below the guided band of Rs 20,500-21,500 at 20,097/MT; improvement in premium specialties business should aid margins going ahead. We strongly believe, the sequential improvement seen in this quarter, is a major positive and the same should continue going ahead.”

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Specilaity Chemicals company Galaxy Surfactants announced Q1FY25 results:

  • Total Revenue: Rs 979.5 crore
  • EBITDA: Rs 129.5 crore
  • PAT: Rs 79.7 crore
  • Performance Surfactant
    • Revenue: Stood at Rs 580 crore
    • Volume: Mid single Digit Volume Growth YOY
  • Specialty Care
    • Revenue: Stood at Rs 399 crore
    • Volume: Low teens Volume Growth YOY

Commenting on the performance K. Natarajan, Managing Director, Galaxy Surfactants Limited, said, “In a world destabilized by volatile macros, logistical challenges and elongated lead times, attaining the upper range of guided volume growth was a major positive in this quarter. We strongly believe the volume momentum should be sustained going ahead, driven by growth across all geographies. While volume growth of 8% was in line with our expectations, the EBITDA/MT came in at Rs 20,197/MT,slightly below the guided band of Rs 20,500 – 21,500 /MT. Higher freight costs due to the abnormal increase in Freight rates across all locations contributed towards this. Despite multiple challenges, we are on track to regain our profitability trajectory. There are visible signs of improving demand for our premium specialties, which should improve our overall profitability. Volume Growth across all regions and segments was a major positive this quarter.”

Result PDF

Speciality Chemicals company Galaxy Surfactants announced FY24 results:

  • Total Revenue: Rs 3,829.8 crore
  • EBITDA: Rs 497.7 crore
  • PAT: Rs 301.5 crore
  • Performance Surfactant:
    • Revenue: Stood at Rs 2,259.6 crore
    • Volume: Low-single-digit volume growth YoY
  • Specialty Care:
    • Revenue: Stood at Rs 1,570.2 crore
    • Volume: Mid-double-digit volume growth YoY

Commenting on the performance, K. Natarajan, Managing Director, Galaxy Surfactants Limited, said, “FY24 has been a positive year for us. While the EBITDA/MT did decline compared to FY23, the QoQ stabilization of the absolute EBITDA and the Volume growth reported every quarter, were the major positives.

Double-digit Volume growth in ROW Markets, despite the destocking cycle playing out for a major part of the year, was a major highlight.

The India story continues to shine; rural recovery and above average rainfall hold the key going ahead. While the Red Sea escalation did impact AMET volumes in January, demand made a strong comeback in February and March.

Looking ahead, while FY 24 saw the resumption of the volume momentum, we strongly believe FY25 will see the resumption of our profitability momentum. Accelerated approvals, along with pickup in Premium specialties, will be the key drivers for the same.”

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Specialty Chemicals company Galaxy Surfactants announced Q2FY24 & H1FY24 results:

Financial Performance:

  • Total Revenue: Galaxy Surfactants reported a total revenue of Rs 1,930.1 crore for H1FY24.
  • EBITDA: The company achieved an EBITDA of Rs 253.2 crore.
  • PAT: The Profit After Tax (PAT) stood at Rs 152.6 crore.

Operational Performance:

  • Volume Growth: The company saw volume growth across all regions and segments in Q2FY24.
  • India: There was a strong positive performance with an upward trend in volume growth.
  • AMET (Africa Middle East and Turkey): There was a recovery in performance-surfactant volumes.
  • ROW (Rest of the World): There was a low single-digit sequential improvement in Q2FY24.

Sales Volume:

  • Performance Surfactants: Maintained strong double-digit growth in H1FY24 and Q2FY24.
  • Specialty Care: Masstige segments returned to growth with high single-digit volume growth YoY and double-digit growth in Q2FY24.

Commenting on the performance U. Shekhar, Managing Director, Galaxy Surfactants said, “This has been a Good Quarter for us. Volume growth registered across all regions and segments in Q2FY24 is a strong positive. While the Profitability has declined marginally, across-the-board volume growth implies demand revival. India continues to remain a big positive for us. Easing inflation and macro issues in Africa Middle East, and Turkey have enabled strong performance-surfactant volume recovery. Barring any adverse spillover effects of the War, we do see this trend continuing.

While Masstige specialties have done very well in India, AMET, and ROW, premium specialties continue to lag due to the inventory destocking situation in North America and recessionary conditions in Europe. But given the low single-digit sequential improvement seen in Q2FY24, we do expect a better 2024 for our premium specialties.

Going ahead, barring any adverse supply-led shocks, volume growth should remain in the upper band of 6- 8%. Easing inflation and improvement in demand for premium specialties will gradually ensure improvement in EBITDA/MT from FY 2024-25.”

Specialty Chemicals company Galaxy Surfactants announced Q1FY24 results:

  • Total Revenue of Rs 944.3 crore in Q1FY24 compared to Rs 986.6 crore in Q1FY23
  • EBITDA of Rs 125.7 crore in Q1FY24 compared to Rs 141.5 crore in Q1FY23
  • PAT of Rs 75.2 crore in Q1FY24 compared to Rs 90.5 crore in Q1FY23

Commenting on the performance U. Shekhar, Managing Director, Galaxy Surfactants said, “This has been a relatively stable quarter for us. Progressive improvement of supply-side factors along with a pickup in demand ensured a healthy 7.4% Volume growth for this Quarter. While India delivered solid double-digit growth for this quarter, inflationary pressures and high channel inventory continued to adversely impact performance surfactants demand in AMET and specialty care demand in North America.

Going ahead, we remain positive on the India growth story. Easing inflationary pressures and progressive improvement in macros should aid consumption in AMET and Developed Markets. We see the situation slowly but steadily improving in the coming quarters.”

 

 

Result PDF

Specialty Chemicals company Galaxy Surfactants announced consolidated FY23 results:

  • Total volumes stood at 2,30,785 MT for FY23, down 1.5% YoY basis
  • Total Revenue (including other income) stood at Rs 4,455.1 crore, a YoY growth of 20.5%
  • EBITDA stood at Rs 578.1 crore, a YoY growth of 39.9%
  • PAT stood at Rs 381.0 crore, a YoY growth of 45.0%

Commenting on the performance U. Shekhar, Managing Director, Galaxy Surfactants said, “This has been a good year for us. While the volume decline is a cause of concern, we do see the situation improving in FY24. The decline in Raw material prices, freight rates, and improved availability not only aided our performance in FY23 but shall also enable recovery in demand going ahead in FY24. The India story is here to stay, and we consciously believe this momentum shall continue for years to come.

The geopolitical headwinds and strengthening Dollar did impact consumption in Europe and Africa Middle East Turkey; but with the situation slowly but steadily improving on the ground, we see growth in these markets in the coming 1-2 Quarters. In addition, the uptick in premium consumption seen in India was a major positive for our Specialty as well as Performance Surfactants. This further aided our performance this year.

To conclude, while global headwinds did impact our volumes adversely this year, we strongly believe the structural story of Home and Personal Care consumption remains intact. FY 2023-24 will be all about sustainable volume-led growth; capitalising on emerging trends through our innovations, growing our existing businesses sustainably and ensuring sustainable volume-led growth for both segments.”

 

Result PDF

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