Galaxy Surfactants Limited has announced its financial results for Q1 FY23

2024-04-24 06:09:48 Business

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Mumbai, 10th August 2022: 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 ended 30th June 2022.

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.?

Q1FY23 Performance

? Total volumes stood at 55,272 MT for Q1FY23 as against 59,864 MT in Q1FY22, down by 7.7% YoY

? ROW markets de-grew by 5.5% YoY

? Indian market grew by 2.6% YoY

? AMET market de-grew by 21.3% YoY

o Performance Surfactants volume stood at 35,443 MT for Q1FY23, down by 8.6% on a YoY basis

o Specialty Care Products volume stood at 19,829 MT for Q1FY23, down by 6.0% on a YoY basis

? EBITDA/MT stood at Rs. 26,418 for Q1FY23 as against Rs. 18,879 in Q1FY22, a growth of 39.9% on a YoY basis.

About Galaxy Surfactants Limited:

Incorporated in 1986, Galaxy Surfactants Ltd is leading manufacturers of Performance Surfactants and Specialty Care products with over 220+ product grades. These products are used in consumer-centric Home and Personal care products like hair care, oral care, skin care, cosmetics, soap, shampoo, lotion, detergent, cleaning products etc. Preferred suppliers to leading MNC?s, Regional and Local FMCG brands. Our key customers include Unilever, Reckitt Benckiser, P&G, L?OREAL, Himalaya, Colgate Palmolive, CavinKare etc. Company has its manufacturing facilities located in India (5), Egypt (1) and USA (1).