Galaxy Surfactants Limited announces Q1FY23 results

09 Aug 2022

• Total volumesstood at 55,272 MT for Q1FY23, down 7.7% YoY basis and 3.9% on QoQ basis
• Total Revenue (including other income)stood at Rs. 1,156.9Cr, a YoYgrowthof39.2% and QoQ growth of 9.7%on account of improved sales mix and realizations
• EBITDA stood at Rs. 146Cr, YoY growth of 29.2% while being flat on QoQ basis
• Achieved highest ever quarterly PAT ofRs. 100.4Cr, YoY growth of 30.7% and QoQ growth of 2.0%

Commenting on the performance Mr. U. Shekhar, Managing Director, Galaxy Surfactants Limited said,

“Coming to Q-1 FY 23, this has been a strong quarter for us. While materialization of demand side risks did impact our volumes adversely, a healthy mix and leveraging on emerging opportunities ensured the highest profitability in this quarter.

As stated previously, FY 23 will be all about managing supply as well as demand side risks. While supply side factors did improve in this quarter, they are yet to revert to the Pre-pandemic levels. The inflationary scenario globally combined with the deterioration of macro factors of a few countries severely impacted the mass categories which in turn impacted our performance surfactant volumes adversely. The energy crisis in Europe and the impending slowdown remain a cause of worry and risk for our specialty care products going ahead.

While the input feedstock prices have sharply corrected in this quarter, a reversal of demand cutbacks is yet to be seen. While Q-1 FY 23 has been a good start, going ahead, a conducive environment will be helpful to ensure the momentum continues. At Galaxy, we remain committed to enabling and ensuring the same.

In FY 2016, Galaxy’s full-year Profit stood at 101 Crores. It gives me immense pleasure to share with you all that despite numerous challenges we have witnessed in the last 6 years, Galaxy’s march has consistently continued; capitalizing on the emerging opportunities thus enabling it to log in a Quarterly Profit of 100 Crores in this Quarter.

While growth is never linear, structural factors enabling this continue to remain robust thus ensuring a healthy outlook for your company in the years to come.”

• Total volumes stood at 55,272MT for Q1FY23as against 59,864MT inQ1FY22, down by7.7% YoY
  • • ROW markets de-grew by 5.5% YoY
    • Indian market grewby 2.6% YoY
    • AMET market de-grew by 21.3% YoY
  • Performance Surfactants volume stood at 35,443MT forQ1FY23,down by 8.6% on a YoY basis
  • Specialty Care Products volume stood at 19,829MT for Q1FY23,down by 6.0%on a YoY basis
• EBITDA/MT stoodat Rs. 26,418for Q1FY23as againstRs. 18,879in Q1FY22, a growth of 39.9%on a YoY basis.