Galaxy Surfactants soars ~3% on achieving highest PAT of Rs100.40 crore in Q1FY23

10 Aug 2022 , 11:03 AM

Galaxy Surfactants Limited announced its results for the quarter ended June 30, 2022.

The company reported total revenue of Rs1,156.90 crore in Q1FY23, registering a growth of 39.20% yoy. Sequentially, revenue grew by 9.7% on the back of improved sales mix and realizations.

Company’s EBITDA for Q1FY23 stood at Rs146 crore, registering a y-o-y growth of 29.20%, while remaining flat on a quarterly basis.

Galaxy Surfactants achieved the highest-ever quarterly PAT at Rs100.40 crore in Q1FY23, up by 30.70% yoy, and 2% sequentially.

Company’s total volumes stood at 55,272 MT for Q1FY23, down 7.7% yoy basis and 3.9% on a QoQ basis.

While demand side risks had an impact on the company’s volumes, a healthy mix and leveraging on emerging opportunities ascertained the highest profitability in this quarter.

As previously stated, FY23 will be all about handling supply and demand risks. While supply-side factors improved this quarter, they are still not back to pre-pandemic levels, stated the company.

The European energy crisis and the impending slowdown continue to be a source of concern and risk for the company’s specialty care products in the future.

Following results announcement, Galaxy Surfactants gained 3.08% at Rs3,248.65 per piece, against its previous closing of Rs3,151.45 on the BSE. The scrip opened at Rs3,171.05 and has touched intraday high and low of Rs3,310 and Rs3,169 respectively.