Galaxy Surfactants Limited - 9MFY24 Consolidated Performance

Galaxy Surfactants Limited, a leading manufacturer of performance surfactants and specialty care products with over 210+ product grades used in the Home and Personal Care industry, has announced its unaudited financial results for the quarter and nine months ended 31st December 2023.

Total Revenue - Rs. 2,876.9 cr
EBITDA - Rs. 372.1 cr
PAT - Rs. 224.0 cr

Commenting on the performance Mr. U. Shekhar, Managing Director, Galaxy Surfactants Limited, said, "This has been a relatively stable quarter for us. While the underlying volume growth stood at 8.4%, well above the guided range of 6-8%, EBITDA/MT stood at Rs 18,781/MT, below the guided band of Rs 19,500 - Rs 20,500/MT impacted by certain one-offs.

Volume momentum remained strong across markets, barring North America. This is particularly positive as the consistent volume uptick across markets implies a receding effect of Inflation and demand revival. While the quarter began on a strong note, the RED Sea escalation did dampen sentiments in the second half of December, thus adversely impacting volumes for this quarter. This remains the biggest risk going ahead.

To conclude, while certain macro risks persist, we strongly believe the underlying demand improvement should be sustained in FY25. Combined with the recovery of our premium specialty portfolio; we expect EBITDA/MT to exceed the guided band in FY25, thus implying an improved performance going ahead."

Shares of Galaxy Surfactants Limited was last trading in BSE at Rs. 2645.85 as compared to the previous close of Rs. 2632.45. The total number of shares traded during the day was 1824 in over 454 trades.

The stock hit an intraday high of Rs. 2674.95 and intraday low of 2617.00. The net turnover during the day was Rs. 4821183.00.

Source : Equity Bulls

Keywords

GalaxySurfactants INE600K01018 Q3FY24 9MFY24 ResultUpdate