Galaxy Surfactants becomes water positive company; Stock gains over 1%

23 Mar 2022 , 01:15 PM

Galaxy Surfactants Ltd, one of the largest manufacturers of performance surfactants and Specialty Care Products in the country has achieved the status of being a water-positive company. Commemorating World Water Day, 2022, Galaxy Surfactants emerged as among the very few Indian companies and the second Indian Chemical company to be 1.4 times water positive.

At around 1.20 pm, Galaxy Surfactants Ltd was trading at Rs2,972.45 per piece up by Rs36.4 or 1.24% from its previous closing of Rs2,936.05 per piece on the BSE.

The certification was granted by DNV Business Assurance India Private Limited which carried out verification of Galaxy’s Water Accounting Data for its operational plants at Tarapur, Taloja and Jhagadia and Corporate Office at Navi Mumbai in India. According to the data, Galaxy Surfactants restored 4,15,261 (CuM) cubic metres of water back to the environment in comparison to its withdrawal of 2,97,513 CuM of water.

India is home to 18% of the global population but only possesses 4% of the global water resources. According to OECD, by 2050, the consumption of water by manufacturing industries will be 400% of what it was in 2000. Galaxy Surfactants, with the principles of Water Stewardship, has directed its operations to ensure the usage of water, socially and culturally equitable, environmentally sustainable, and economically beneficial.

K. Natarajan, Executive Director & COO of Galaxy Surfactants said, “Sustainability lies at the core of our business. Through water stewardship, we have always aimed to ensure that our business practices align with the needs of the community. Our goal is to not just remain Water Positive and Water Secure, but to bring in a greater positive change in the environment for the larger good of the society.”

DNV adopted a risk-based approach and conducted the onsite and off-site evaluation of the qualitative and quantitative information and Water Debit and Credit data presented in Galaxy Surfactants’ Water Report. Accordingly, Galaxy Surfactants obtained a water balance index of 1.40, a rare achievement by a Chemical company.