Galaxy Surfactants PAT surges 55% yoy to Rs184 crore during Q2FY23

10 Nov 2022 , 09:20 AM

Galaxy Surfactants Limited, a leading manufacturer of performance surfactants and specialty care products with over 220+ product grades used in the Home and Personal Care industry, has announced its un-audited financial results for the quarter and half year ended September 30, 2022.

H1FY23 Consolidated Performance:

• Total volumes stood at 1,14,555 MT for H1FY23, down 3.5% yoy basis
• Total Revenue (including other income) stood at Rs2,389.6 crore, a yoy growth of 39.5%
• EBITDA stood at Rs278.8 crore, yoy growth of 47.6%
• PAT stood at Rs184.2 crore, yoy growth of 55.1%

Commenting on the performance U. Shekhar, Managing Director, Galaxy Surfactants Limited said, “As it is said 'Offence wins Games but Defence wins Championships, ' and the first half this year has truly tested our defence. In a half that has seen Fatty Alcohol prices correct by more than 50%, freight rates correct upwards of 50%, and demand contract globally, a good defense i.e., risk management combined with a robust product portfolio, judicious price calls along with experience in handling such volatility enabled us to deliver a 100% growth in Profits for Q2FY23 and 55% for the first half vis-a-vis H1FY22. Thus, enabling the momentum garnered in Q4FY22 to continue into the H1FY23.

While the underlying pressure on volumes continues, demand continues to remain resilient in India. The continued slowdown in Europe and a hyper inflationary scenario which adversely impacts the mass and masstige segments remain the key risks going ahead.

Though supply led volatility has reduced in the first half, it yet remains at elevated levels. To conclude,while the first half has been good for us, pickup in volumes remains the key going ahead.”

On Thursday early morning trade, Galaxy Surfactants Ltd is currently trading at Rs2,813.45 per share up by Rs7.85 or 0.28% from its previous closing of Rs2,805.60 per share on the BSE.

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